Using Due Diligence Software to Speed Up the Due Diligence Process

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When a firm decides to invest in a company, they conduct due diligence. This involves looking through the company’s records, confirming references and looking for any hidden information. Due diligence software assists companies manage the process. It lets them centralize and document processes like assessments, financial diligence, and environmental social, corporate, and governance (ESG).

For instance, if you are conducting a technology due diligence, the person doing it will need all documentation on your product such as architectural diagrams, integrations and tech solutions, backup and recovery, servers and the process frameworks used to create the product. Making sure that all of this is documented can help accelerate the process and minimize risks of a potential deal.

Another process used in due diligence is a tax examination which is where the buyer reviews the tax profile of the company that is being targeted. It could identify tax liabilities like overstated losses, under-reported expenses and tax liabilities for sales-and-use. Furthermore, it is able to uncover tax credits that have not been reported and deductibles.

A virtual data room is one of the best tools you can use to ensure due diligence. It can be used as a safe place to store and share files them with others. It should be able to support multiple file formats, including PDF, Word, Excel and many more. It should also offer an intuitive search and browse function as well as file sharing features and collaboration tools. It should also permit drag-and-drop uploads and multiple security levels and a built in viewer. It should also work with all major browsers and mobile devices. The best option is SS&C Intralinks, which offers an intuitive user interface and powerful collaboration tools. It comes with a free version that offers up to 10GB storage 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 as well as an ISO 27701 certificate.



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