Modern VDR is not just beneficial to clients but also advisors and their teams. For advisors that are used to working on older, bulky systems, a quick review of a modern VDR can make the entire due diligence process more simple and efficient. For instance, things like ‘view as’ and easy to use user permissions, a search feature that permits more specific searches, and a simple to navigate branded interfaces are just a few of the most essential features available on many modern systems.
It is also essential to choose a provider that provides an open file system that can be interpreted logic, multiple levels of permissions, and control of document versions. This allows users to locate what they’re looking to find quickly, without spending time looking through a congested Dropbox drive. Q&A tools are also helpful for due diligence. They enable users to communicate and avoid sending emails which might be misinterpreted or lost among the daily flood of emails that buyers receive.
The ability to create workspaces and folders for projects and track activities with detailed audit trails, and restrict access to view helps ensure a high level of transparency during a critical transaction. Watermarking, fence view, encryption and 2-factor authentication are among the features that can help keep documents secure and protected. Many VDR providers provide a free trial to customers, so they can test how the platform actually works. They also offer an extensive demo of the product, if needed.
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