VDR software provides a secure and encrypted environment for sharing sensitive VDR software documents with multiple parties. It is often used for M&A due diligence, but it can also be used to aid in bankruptcy procedures, fundraising and a variety of other business transactions that require document sharing. It’s crucial that advisors understand how to use VDR technology to improve the results of their clients.
Inquiring about reliability and performance data is vital as it is with any other tech stack. Check for information on average uptime, interruptions, and delays. It’s also a good idea to look for third-party certificates like SOC. These certifications offer independent proof that the VDR partner has taken all the necessary steps to protect the data of its customers.
A quality VDR will also provide professional customer service via several channels. Look for live chat in the app, as well as phone and email assistance that is available in a variety of languages, along with training videos, dedicated teams and managers. Contrary to physical data rooms the majority of modern providers are accessible 24/7.
Consider how you can ensure that the VDR is created with your customers’ needs in mind. Does it have a clean user interface that is easy to navigate? Does it support large-scale uploads and downloads? Does it come with an option to quickly access the most popular documents and search for specific terms? These features can make the experience of your clients less stressful, and they will help save time in the course of negotiating.