How Advisors Can Leverage VDR Software to Improve Client Outcomes
VDR software provides a secure, encrypted environment to share sensitive files with multiple parties. It is typically used for M&A due-diligence but it is also used to aid in bankruptcy proceedings, fundraising and many other business transactions requiring document sharing. It is essential that advisors know how to utilize VDR technology to improve their client outcomes.
Like with any tech stack, it’s important to inquire of a potential VDR partner for performance and reliability information. It is important to look for information on the average time to uptime, interruptions and delays. In addition it’s a good idea to look for third-party security certificates such as SOC. These certifications provide independent verification that the VDR partner has taken all necessary steps to protect customers’ personal information.
A good VDR provider will also provide professional customer support through a variety of channels. Look for live chat in the app, as well as phone and email support that’s available in various languages, along with training videos, dedicated teams, and managers. Unlike physical data rooms, most modern providers are available all hours of the day.
Consider how the VDR was developed with the needs of your client in mind. Does it have a simple user interface that is easy to navigate? Does it permit large-scale uploads and downloads? Does it allow you to quickly access the most commonly used documents and search for specific keywords? These features can make your clients experience less stressful and will save them time throughout the process.
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