VDR software offers a secure encrypted environment for sharing sensitive documents with a variety of parties. It is commonly used to aid in M&A due-diligence, but it could also be used for bankruptcy procedures, fundraising and many other business transactions that require sharing of documents. It’s crucial that advisors understand how to use VDR technology to enhance the outcomes of their clients.
Like any other tech stack, it’s important to ask a potential VDR partner for performance and reliability data. Find out information about average uptime, interruptions, and delays. It’s also a good idea to verify third-party certifications such as SOC. These are independent confirmation that a VDR partner has taken the necessary steps to secure customer information.
A good VDR will also provide professional customer support through various channels. Find live chat on the app, phone and email assistance that is available in a variety of languages, along with training videos, dedicated teams and managers. Modern providers are available 24 hours a day, seven days a week.
Take a look at how the VDR was developed with the needs of your client in mind. Does it have a simple, intuitive user interface? Does it allow bulk uploads and downloading? Does it allow you to quickly access the most popular documents and search for specific terms? These features can make your clients feel less stressed and help them save time throughout the process.
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