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 company’s documents as well as checking references and looking for any hidden information. Due diligence software assists companies manage the process. With it, they can document and centralize processes like assessments environmental, financial corporate and social (ESG) diligence and more.

For instance, if you are doing a tech due diligence, the person executing it will need all of your product documentation such as architectural diagrams, integrations and tech solutions such as backup and recovery servers, and the process frameworks that were used to develop the product. All of this documentation can assist in speeding the process, as well as reduce the risk of potential deals.

A tax examination is a common due diligence procedure, that is where the acquirer looks at the tax profile of the targeted company. It can reveal tax liabilities such as unreported losses, overstated loss and tax liabilities for sales-and-use. It also can reveal tax deductions not reported as well as credits.

A virtual data room is among the best tools to use for due diligence. It can serve as a secure location to store files and share them with others. It should be able to support formats for files like PDF, Word, Excel and more. It should also include the ability to search and browse along with collaboration tools and file sharing. It should also permit drag-and-drop uploads with multiple security levels and a built in viewer. It should also work with all major browsers and mobile devices. SS&C Intralinks is a good option as it comes with an effective collaboration tool as well as an intuitive user interface. It comes with a free version that provides up to 10GB of storage space and 250 MB of upload limit and is compatible with Android and iOS devices. It also comes with security features like AES 256 bit encryption and ISO 27701 certificate.

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