VDR software provides a secure and encrypted environment for sharing sensitive files with multiple parties. It is commonly used during M&A due diligence, but it can also be used for bankruptcy procedures, fundraising and a variety of other business transactions that call for document sharing. It is essential that advisors know how to use VDR technology to improve the results of their clients.
Inquiring about reliability and performance information is crucial just like it is with any other technology stack. You should look for information on average uptime, interruptions and delays. In addition, it’s a good idea look for third-party security certificates like SOC. They provide independent proof that a VDR partner has taken the necessary steps to safeguard customer information.
A reputable VDR will also offer professional customer service via various channels. You can find live chat on the app, as well as phone and email support that is available in multiple languages, along with training videos, dedicated teams, and managers. Unlike physical data rooms, the majority of modern providers are accessible 24/7.
Take a look at how the VDR was created with the needs of your client in mind. Does it have an easy-to-use user interface? Does it permit large downloads and uploads? 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 more pleasant, and will save hours during a deal.
