IBTech Solutions

Using Due Diligence Software to Speed Up the Due Diligence Process

Due diligence is a process carried out by a company prior investing in a business. This involves looking through the company’s documents, verifying references and looking for 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 example, if you are conducting a tech due diligence, the person performing it will require all your documentation for your product that includes architectural diagrams, integrations and tech solutions, backup and recovery, servers, and the process frameworks used to develop the product. This documentation can help speed up the process, and also reduce the risk associated with potential deals.

Another common due diligence process is a tax examination, which is where the buyer reviews the tax profile of the company that is being targeted. This could uncover tax liabilities, such as overstated losses, underreported expenses and tax liabilities for sales-and-use. Furthermore, it is able to determine tax credits that aren’t reported or deductibles.

One of the best tools to conduct due diligence is the virtual data room, which can offer a safe place to save and share files. It should have the ability to support formats for files like due diligence software PDF, Word, Excel and many more. It should also come with a search and browse feature, collaboration tools and file sharing. Additionally it should permit easy uploads via drag and drop as well as multiple levels of security and an integrated viewer. It should support all major mobile devices and browsers. SS&C Intralinks is a good option, since it provides powerful collaboration tools and an intuitive user interface. It has a free version with up to 10GB storage and a 250MB upload limit. It works with Android or iOS devices. It also has security features like AES 256-bit encryption as well as ISO 27701 certification.

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