VDR software provides a safe and encrypted environment to share sensitive documents with multiple parties. It is typically used for M&A due-diligence, however it can also be utilized to aid in bankruptcy proceedings, fundraising and other business transactions requiring document sharing. It’s crucial for advisors be aware of how they can use VDR technology to improve client outcomes.
Asking for performance and reliability information is important, just as it is with any other tech stack. You should be looking for data on the average of their time to uptime, interruptions and delays. It’s also a good idea for you to check third-party certifications such as SOC. These certifications provide independent verification that the VDR partner has taken the necessary steps to protect the VDR vendors data of its customers.
A good VDR provider will also offer professional customer service via a variety of channels. Check for live chats within the app telephone and email assistance that spans several languages along with training videos and dedicated managers and teams. As opposed to physical data rooms most modern providers are available 24/7.
Consider how the VDR was created with the needs of your client in mind. Does it have a clear user interface? Does it allow large-scale uploads and downloads? Does it allow you to swiftly access the most commonly used documents and search for specific keywords? These features can make your clients’ experience much less stressful and help them save time during the negotiation.
