20 May Using Due Diligence Software to Speed Up the Due Diligence Process
If a company decides to invest in a business, they conduct due diligence. This entails reviewing the documents of the company, checking references and looking for any hidden information. Due diligence software can help companies manage the process. It allows them to centralize and document processes such as assessments, financial diligence and environmental, social, and corporate governance (ESG).
For instance, if you are conducting a technology due diligence, the person executing it will require all your documentation for your product that includes architectural diagrams, integrations and tech solutions such as backup and recovery servers and the process frameworks that were used to develop the product. Documenting all of this can help speed up the process and reduce the risks associated with a possible deal.
Another process that is commonly used for due diligence is a tax examination in which the acquirer analyzes the tax profile of the company that is being targeted. It could uncover tax liabilities, such as overstated losses, underreported expenses and tax-related exposures for sales and use. It could also reveal unreported tax deductions and credits.
One of the best tools to conduct due diligence is a virtual data board portal features space that provides a secure space to store and share files. It should be able to accommodate a variety of file formats, including PDF, Word, Excel and more. It should also have an intuitive search and browse feature along with file sharing capabilities and collaboration tools. It should also allow drag and drop uploads with multiple security levels and a built-in viewer. It should also work with all major mobile devices and browsers. A good choice is SS&C Intralinks, which offers an intuitive user interface and powerful collaboration tools. It has a trial version that can hold up to 10GB of storage and a 250MB upload limit. It works with Android or iOS devices. It also comes with security features like AES 256-bit encryption as well as ISO 27701 certification.