How Advisors Can Leverage VDR Software to Improve Client Outcomes
VDR software provides a safe, encrypted environment to share sensitive files with a variety of parties. It is commonly used to aid in M&A due-diligence, but it can also be utilized for fundraising, bankruptcy procedures and many other business transactions requiring document sharing. It’s crucial for advisors be aware of how they can utilize VDR technology to improve the outcomes of clients.
Like any other tech stack, it’s crucial to inquire of a potential VDR partner for data on performance and reliability. Find out information about average uptime, interruptions, and delays. In addition it’s a good idea to check for third-party security certifications like SOC. These certifications provide independent evidence that the VDR partner has taken the proper steps to protect customer data.
A reputable VDR provider will also offer professional customer service via multiple channels. Check for live chats within the app or phone support that is available in multiple languages as well as training videos, dedicated teams and managers. In contrast to physical data rooms, the majority of modern providers are available all hours of the day.
Finally, consider how the VDR is created with your customers need in mind. Does it have an easy-to-use user interface? Does it support large-scale uploads and downloads? Does it allow you to swiftly access the most frequently used documents and search for specific words? These features will make the experience for your clients much less stressful, and they will save hours during the course of a deal.