Due diligence is a vital step in any business transaction. Due diligence is an investigation to confirm the authenticity of information about the business and ensure that transactions or assets are safe. Manually performing this process can be expensive and time-consuming. However with a due diligence software application, it’s feasible to speed up the process and reduce the risk.
The best solution will include tools for visual screening and vetting, as well as monitoring third parties. It should also offer full audit trails, and a central platform for all of your operations.
HyperComply is a comprehensive due diligence tool that allows users to streamline the entire process. It has a dashboard for the vendor and provides a variety of useful features, including document management data analysis, collaboration tools, and much more. The software also comes with templates that can be customized for faster and more accurate results. It is an excellent choice for businesses looking to minimize the risk of data breaches and improve security procedures.
Whistic is another vendor due diligence program that aims to help organizations speed up the process by sharing confidential documents automating time-consuming tasks and providing thorough templates for security assessments. Whistic Trust Catalog contains information regarding the security capabilities of a multitude of vendors. This allows teams to review vendors without having to submit questionnaires and wait for responses. Pricing information for Whistic is available upon inquiry.
Intralinks, another well-known software solution for due diligence, offers a range of tools to help manage the process. Its easy-to-use communication tools and a virtual data room that is integrated and centralized reporting makes it simple to manage. It also comes with tools to track project progress to coordinate meetings and help with decision-making.