Using Due Diligence Software to Speed Up the Due Diligence Process

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

For example, if you are conducting a technology due diligence, the person performing it will need all your documentation for your product such as architectural diagrams, tech solutions and integrations, backup and recovery, servers and the process frameworks that were used to develop the product. All of this documentation will help speed up the process, and reduce the risks associated with potential deals.

Another process that is commonly used for due diligence is a tax exam, in which the acquirer examines the tax profile of the target company. It can reveal tax liabilities such as understated net operating losses as well as tax expenses that are not reported and exposures to sales and use tax. Furthermore, it is able to find tax credits that are not reported and tax deductions.

A virtual data room is one of the best tools to use for due diligence. It can serve as a secure place to store and share files them with others. It should be able to support various file formats, including PDF, Word, Excel and many more. It should also have the ability to search and browse as well as file sharing and collaboration tools. It should also support drag-and-drop uploads and multiple security levels and a built-in viewer. It should support all major mobile devices and browsers. The best option is SS&C Intralinks, which offers an intuitive user interface and powerful collaboration tools. It offers a no-cost version that gives users up to 10GB storage and 250MB of upload limits and is compatible with Android and iOS devices. It also includes security features like AES 256 bit encryption as well as an ISO 27701 certificate.

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