Modernizing your VDR is not just good for customers, but also saves advisors and teams from time and stress. For advisors who are accustomed to working with old, bulky systems, a quick review of modern VDR can make the entire due diligence process more simple and efficient. For instance, features like ‘view as’ and easy to use user permissions, a search feature that allows for more specific searches and a simple navigate branded interface are some of the most crucial features available on many modern systems.
Additionally, it is essential to find a company that has an operating system for files that is able to be understood by logic as well as multiple levels of permissions, and control of document versions. This allows users to locate what they’re looking to find quickly, without having to waste time searching through a crowded Dropbox drive. Other features that aid in due diligence include a tool for Q&A that allows users to communicate with one with each other and avoid asking questions via email, which can be misinterpreted or missed in the flood of emails that all buyers receive.
The capability to create workspaces and folders for projects and track activity using detailed audit trails, as well as restrict access to the view area helps maintain a high level of transparency during a critical transaction. The addition of additional features like fence view, watermarking, encryption, and two-factor authentication also aids in keeping documents safe and secure. Many VDR providers offer a free trial to prospective customers to check out how the platform operates in the real world, and can provide a complete demonstration of their product to clients if that is required.
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