How to Choose the Right Due Diligence Software
Due diligence is an essential step in any business transaction. It’s an examination performed to verify the authenticity of information about a company, and it helps to ensure the safety of transactions or assets. The manual process of conducting this investigation can be expensive and time-consuming. However with a due diligence software application, it’s feasible to speed up the process and reduce risk.
The right solution will provide tools for visual screening, vetting and monitoring of third parties. It should also give you complete audit trails and one central platform to manage all of your operations.
HyperComply, a complete due-diligence software that lets users simplify their entire process. It comes with a dashboard for vendors and offers a range of useful tools like document management and data analysis, as well as collaboration tools, and much more. The solution includes a library with customizable templates to help you get more efficient and accurate results. It is an excellent choice for businesses that wish to reduce the risk of a data breach and improve security operations.
Whistic is a tool for due diligence of vendors that helps automate time-consuming tasks and provides detailed security assessment templates. It also comes with the Whistic Trust Catalog which contains information on the security posture of a multitude of vendors. This allows teams to review vendors without having to submit questionnaires and wait for answers. Whistic pricing information is available on request.
Intralinks is another popular due diligence software product which offers a broad range of tools to manage the process. Its efficient tools for communication and a virtual data room that is centralized and unifying reporting makes it simple to manage. It includes tools for tracking the progress of projects, organizing meetings, and aiding in decision-making.