VDR software provides a safe and secure environment for sharing sensitive documents with a variety of parties. It is commonly used during M&A due diligence, but also for fundraising, bankruptcy procedures and a variety of other business transactions that call for document sharing. It is essential that advisors know how to utilize VDR technology to enhance their client’s outcomes.
Requesting performance and reliability information is essential like it is with any other technology stack. Find out information about average uptime, interruptions, and delays. It’s also a good idea for you to check third-party certifications like SOC. These certifications provide independent evidence that the VDR partner has taken all the necessary steps to secure customer data.
A good VDR will also offer professional customer service via multiple channels. Find live chat on the app, as well as phone and email assistance that is available in a variety of languages, along with training videos, dedicated teams and managers. Contrary to physical data rooms most modern providers are accessible all hours of the day.
Then, think about how the VDR is created with your customers requirements in mind. Does it have a clear, intuitive user interface? Does it allow large-scale uploads and downloads? Does it allow you to quickly access the most commonly used documents and search for specific words? These features can make the experience of your clients much less stressful, and they will save hours during the course of a deal.
