Using Due Diligence Software to Speed Up the Due Diligence Process

Due diligence is performed by a firm before investing in a business. This includes reviewing the company’s documents, confirming references and looking for any hidden information. Due diligence software aids companies manage the process. It helps them centralize and document processes such as assessments, financial diligence, and environmental social, corporate, and governance (ESG).

For instance, if are doing a tech due diligence, the person who is performing it will need all the documentation of your product including architectural diagrams tech solutions and integrations, backup and recovery, servers, and the process frameworks that were used to create the product. Documenting all of this can speed up the process and decrease the risk associated with a potential deal.

Another process that is commonly used for due diligence is a tax inspection, in which the acquirer examines the tax profile of the target company. This may reveal tax liabilities, like understated net operating losses as well as tax expenses that are not reported and exposures to sales and use tax. It also can uncover tax deductions that are not reported and credits.

A virtual data room is among the best tools you can use for due diligence. It can be used as a secure place to store files and share them with others. It should be able to accommodate a variety of file formats, including PDF, Word, Excel, and others. It should also come with an intuitive search and browse feature, file sharing options and collaboration tools. In addition, it should allow for easy uploads via drag and drop as well as various levels of security, and an integrated viewer. It should also work with all major browsers and mobile devices. SS&C Intralinks is a good choice as it offers a powerful collaboration tool and an intuitive user interface. It comes with a no-cost version that can hold up to 10GB of storage and 250MB upload limit. It works with Android or iOS devices. It also provides security features such as AES 256-bit encryption and ISO 27701 certification.