VDR software offers a secure encrypted environment for sharing sensitive documents with multiple parties. It is often used for M&A due diligence, but also for fundraising, bankruptcy procedures as well as other business transactions that require document sharing. It is essential that advisors know how to utilize VDR technology to improve their client outcomes.
Requesting performance and reliability information is essential 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 examine third-party security certifications such as SOC. These provide independent verification that a VDR partner has taken the necessary steps to secure customer data.
A quality VDR will also provide professional customer support through a variety channels. Check for live chats within the app or phone support that is available in multiple languages along with training videos and dedicated teams and managers. Unlike physical data rooms, most modern providers are available 24/7.
Consider how the VDR was developed with the needs of your client in mind. Does it come with an intuitive user interface that is clean and easy to use? Does mergers and acquisitions it support bulk uploads and downloading? Does it allow you to quickly access the most frequently used documents and search for specific words? These features can make your clients’ experience much less stressful and save them hours during the transaction.