Due diligence is a crucial step in any business transaction. It’s an investigation that is done to verify information about a business, and it aids in the protection of transactions or assets. This process can be extremely time-consuming and expensive if done manually. However with a due diligence software solution, it’s easy to speed up the process and reduce the risk.
The best solution will include tools for visual screening for vetting, vetting and monitoring other parties. It should also enable you to keep complete audit trails as well as a central platform for all your operations.
HyperComply, a full due-diligence software, allows users to simplify their entire process. It has a dashboard for the vendor and offers several useful features like document management data analysis, collaboration tools, and more. The software also comes with a library of customizable templates for faster and more accurate results. It is safe data sharing a great choice for companies who want to reduce the risks of a data breach and improve their security operations.
Whistic is a different vendor due diligence tool that aims to help companies speed up the process by automating tedious tasks, and by providing detailed templates for security assessments. It also includes the Whistic Trust Catalog which contains details on the security status of a multitude of vendors. This allows teams to evaluate vendors without having to send questionnaires and then wait for responses. Pricing information for Whistic is available upon request.
Intralinks, another well-known software solution for due diligence, comes with various tools to help manage the process. Its streamlined communications tools and virtual data rooms centralized and unified reporting makes it simple to manage. It comes with tools for tracking the progress of projects, coordinating meetings, and aiding in decision-making.