Q: What’s the new feature, and how does it work?
A: Digital NDA badges and Digital CIM badges. When you upload NDAs and CIMs to your next Axial projects, your teaser, email, and other areas of the application will display badges so the buyside members you contact can see what type of process they can expect.
The badges are shown here:
Q: What’s the thinking behind this release?
A: We’ve looked at the data across thousands of deals, and we’re confident that you’ll save yourself a lot of time, and see higher levels of engagement and interest from the buyside if you digitally upload your NDAs and CIMs. These badges make it easier for you to showcase that you have these documents uploaded, and for buyers to act quickly on your deals when you do.
Q: What if I don’t upload an NDA or a CIM?
A: It goes without saying that you should run your process just as you see fit! But while we’re confident that there’s real upside for you if you digitally upload your NDAs and CIMs, should you choose not to use digital documents, the platform will make that clear to buyside members as you invite them into the process, as shown below:
Q: I like to send my NDA via a link, but it looks like you only support document uploads. How do you support that?
A: Great minds 🙃 ! Sending the NDA via a link to your own 3rd party process is the next feature we’re building in 2021. We’ll be releasing it in the next 90 days or so. We’ve got a lot of members who use their own 3rd party NDA processes, and we’re excited to be able to support this approach. For now, you may want to select “Proceed without NDA”, or upload a custom NDA that contains the necessary hyperlink
Q: What about cybersecurity?
A: Axial’s database is encrypted, and we recently dedicated a month of our engineering team’s time to enhancing the robustness of our platform’s security, so your files are safe with us.