Using Due Diligence Software to Speed Up the Due Diligence Process

When a firm decides to invest in a business, they conduct due diligence. This involves examining the company’s documents in addition to checking references and searching for any hidden information. Due diligence software helps companies manage the process. With it, they can document and centralize processes like assessments, environmental, financial, social and corporate governance (ESG) diligence and other.

For instance, if you are conducting a tech due diligence, the person doing it will need all documentation on your product that includes architectural diagrams, integrations and tech solutions backup and recovery servers and the process frameworks that were used to create the product. All of this documentation will assist in speeding the process, as well as reduce the risks associated with possible deals.

A tax examination is another typical due diligence procedure in which the acquirer examines the tax profile of the target company. This can uncover tax liabilities, including overstated net operating losses as well as tax expenses that are not reported and sales and use tax exposures. It can also reveal unreported tax deductions and credits.

One of the best tools to conduct due diligence is a virtual data space that can provide a safe and secure location to save and share files. It should accommodate a variety of file formats, including PDF, Word, Excel, and others. It should also include an option to search and browse along with file sharing and collaboration tools. In addition it should permit easy uploads via drag and drop with multiple levels of security and an integrated viewer. It should also work with all major mobile devices and browsers. One option is SS&C Intralinks, which offers an intuitive user interface as well as powerful collaboration tools. It offers a no-cost version that gives users up to 10GB of storage and 250MB of upload limit and is compatible with Android and iOS devices. It also offers security features such as AES 256-bit encryption and ISO 27701 certification.