VDR software provides a secure and encrypted environment for sharing sensitive files with multiple parties. It is typically used during M&A due diligence, but it can also be used for fundraising, bankruptcy procedures and a variety of other business transactions that call for document sharing. It is crucial for advisors to be aware of ways they can utilize VDR technology to improve the results of their clients.
As with any other tech stack, it’s vital to ask a potential VDR partner for performance and reliability information. You should seek out data on the average amount of time to uptime, interruptions and delays. It’s recommended to verify third-party certifications like SOC. They provide independent proof that the VDR partner has taken the necessary steps to safeguard the customer’s information.
A reputable VDR will also offer professional customer support through a variety channels. You should look for live chat in-app or phone assistance that spans several languages along with training videos and dedicated managers and teams. Modern providers are accessible 24 hours a day 7 days a week.
Also, think about how the VDR is designed with your clients’ needs in mind. Does it have a clear, intuitive user interface? Does it support bulk uploads and downloading? Does it allow you to swiftly access the most frequently used documents and search for specific keywords? These features can make the experience of your clients less stressful, and they can help you save time during a deal.