VDR software offers a secure and encrypted environment for sharing sensitive documents with multiple parties. It is typically employed for M&A due diligence, but it could also be used for fundraising, bankruptcy procedures and a variety of other business transactions that require sharing of documents. It is crucial for advisors to be aware of ways they can utilize VDR technology to improve the results of their clients.
Requesting performance and reliability data is vital as it is with any other technology stack. You should look for information on average uptime, interruptions and delays. Additionally it’s a good idea to look for third-party security certificates like SOC. These certifications offer independent proof that the VDR partner has taken all the steps to protect customers’ personal information.
A quality VDR will also provide professional customer support through a variety channels. Find live chat on the app, as well as phone and email support that’s available in several languages, as well with training videos, dedicated teams and managers. Modern providers are available 24/7, seven days a week.
Then, think about how you can ensure that the VDR is designed with your clients’ needs in mind. Does it have a simple user interface? Does it support bulk uploads and downloading? Does it allow you to quickly access the most commonly used documents and search for specific keywords? These features will make the experience for your clients less stressful, and they will help save time in an agreement.
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