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How Advisors Can Leverage VDR Software to Improve Client Outcomes
VDR software offers a secure, encrypted environment to share sensitive files with multiple parties. It is often used for M&A due diligence, but it can also be used for fundraising, bankruptcy procedures and other business transactions that call for document sharing. It’s crucial that advisors understand how to use VDR technology to enhance their client’s outcomes.
Like with any tech stack, it’s vital to ask a prospective VDR partner for data on performance and reliability. You should look for data on the average amount of uptime, interruptions and delays. It’s recommended to verify third-party certificates like SOC. They provide independent proof that the VDR partner has taken the necessary steps to protect customer information.
A reputable VDR provider will also offer professional customer service through various channels. You should look for live chat in-app, phone and email support that spans a variety of languages as well as training videos, dedicated managers and teams. In contrast to physical data rooms, the majority of modern providers are accessible 24/7.
Then, think about how you can ensure that the VDR is created with your customers’ needs in mind. Does it have a simple user interface? Does it support large downloads and uploads? Does it include a feature that lets you quickly access the most popular documents and search for specific terms? These features can make your clients experience less stressful and save them hours during the deal.
