The modern VDR is not only vertical vs horizontal monopoly good for clients, but it can also save advisors and their teams time and stress. A quick overview of the latest VDR by advisors who have worked with older bulky systems can streamline and improve the efficiency of due diligence. For instance, features like ‘view as’ and easy to use user permissions, a search function that allows for more specific searches and a simple navigate branded interfaces are just a few of the more important features found on many modern systems.
It’s also important to find the right vendor that provides an efficient file system that has multiple levels of permissions as well as document version control. This allows users to locate what they’re looking to find quickly, without the need to spend time looking through a congested Dropbox drive. Other features that help with due diligence include a Q&A tool that makes it easy for users to talk to each other and avoid sending questions through email, which can be misinterpreted or missed in the flood of emails that all buyers receive.
The possibility of creating workspaces and folders for projects and track activity using detailed audit trails, and restrict access to view helps ensure an optimum level of transparency during a crucial transaction. Watermarking, fence views, encryption and 2-factor authentication are a few features that keep your documents safe and secure. Many VDR providers offer a no-cost trial to customers so they can test how the platform actually works. They also offer an entire demonstration of the product if required.