Due diligence is a vital element in any transaction, whether it’s buying a home or purchasing a business. Due diligence can be used to weigh the pros and cons in your personal life, like evaluating the benefits and costs of different travel destinations or selecting a college. Due diligence can be long and time-consuming, regardless of the method used. However, if you have the right tools and procedures in place it can be more efficient and productive.
A due diligence software system can help companies streamline the process of conducting research and analysis by centralizing and organizing all the information needed to assess a third-party vendor. It is able to provide a variety of features, like successful business website for fundraising the ability to search through a library of security forms, a collaborating workspace that allows teams to share files and discuss issues and the capability to easily alter and automate tasks. Some of the vendors that provide all of these features are HyperComply, Whistic, and SecurityScorecard.
SS&C Intralinks has become one of the most popular software systems for due diligence available on the market. It’s available in five countries and provides an array of features, including a virtual data room along with collaboration tools and reporting functionality. It’s also GDPR compliant and ISO 27001 certified.
Due Diligence by SS&C Intralinks offers users centralized collaboration and communication tools, including a virtual room and smartphone app. It can also help users complete requests in less time thanks to its project management features. Users can upload files of up to 2.5GB and utilize features like drag-and-drop uploads, 4-levels of permissions and an integrated viewer.