The modern VDR is not just advantageous for clients, but it can also save advisors and their teams from time and stress. A quick overview of the modern VDR by advisors who have been using older bulky systems can streamline and increase the efficiency of due diligence. Modern systems provide features such as “viewing as” and permissions that are simple to use as well as a search feature that permits more precise searches, and an interface with a logo and feel.
Additionally, it’s essential to find a vendor that offers the file system that has interpretable logic and multiple levels of permissions and control of document versions. This will ensure that users can find what they’re looking for easily, instead of looking through a crowded Dropbox or drive. Q&A tools are also useful in due diligence. They permit users to communicate and avoid sending emails which might be misinterpreted or lost in the flood of emails that buyers receive.
The capability to create workspaces or folders for projects, track activity with detailed audit trails and limit access to documents helps ensure high levels of transparency during critical transactions. Watermarking, fence-views, encryption and 2-factor authentication are all features that can help protect and secure documents. Many VDR providers offer a no-cost trial for customers to experience how the platform functions in practice, and they will provide a complete demonstration of the product to clients if that is required.