How to Choose the Right Due Diligence Software

Due diligence is a crucial aspect of any business deal. Due diligence is an investigation to confirm the authenticity of information about the company and to ensure that the transactions or assets are safe. Manually performing this process can be expensive and time-consuming. However, with a due diligence software program, it’s possible to streamline the process and reduce risk.

The best solution should include tools to visually screen, vet and constantly keep track of third parties. It should also enable you to keep full audit trails and a centralized platform to manage all your operations.

HyperComply is a complete due diligence tool that allows users to simplify the entire process. It comes with a dashboard of the vendor, as well as several useful features, like document management, data analytics, collaboration tools, and much more. The solution comes with an array of templates that can be customized to ensure more efficient and accurate results. It is a great option for businesses looking to decrease the chance of a data breach and improve security operations.

Whistic is another vendor due diligence tool that aims to help organizations speed up the process by automating time-consuming tasks, and by providing detailed templates for security assessments. Whistic Trust Catalog contains information regarding the security capabilities of thousands of vendors. This allows teams to review vendors without having to send questionnaires and wait for responses. Whistic pricing information is available upon request.

Intralinks is another popular due diligence software that offers a range of tools to manage the process. Its streamlined communications tools as well as a virtual data room centralized and unified reporting makes it simple to manage. It comes with tools for tracking project progress, coordinating meetings, and aiding in decision-making.