VDR software provides a secure and encrypted environment to share sensitive documents with multiple parties. It is typically used during M&A due diligence, but also for bankruptcy, fundraising, and many other business transactions that call for document sharing. It’s important for advisors to be aware of ways they can make use of VDR technology to improve client outcomes.
Like any other tech stack, it’s vital to ask a prospective VDR partner for data on performance and reliability. You should look for information on average uptime, interruptions and delays. In addition it’s a good additional reading itsoftup.com/the-role-of-virtual-data-room-service-providers/ idea to look for third-party security certifications such as SOC. These certifications offer independent proof that the VDR partner has taken all the steps to protect the data of its customers.
A reputable VDR provider will also provide professional customer service via many channels. Check for live chats within the app, phone and email support that is available in multiple languages as well as training videos, dedicated teams and managers. Unlike physical data rooms, most modern providers are available 24/7.
Then, think about how you can ensure that the VDR is created with your customers need in mind. Does it have a clear, intuitive user interface? Does it allow large downloads and uploads? Does it come with an option that lets you quickly access the most popular documents and search for specific terms? These features can make your customers feel less stressed and help them save time throughout the process.