Due diligence is a vital element in any business transaction. Due diligence is an investigation to verify information about the business and ensure that the assets or transactions are secure. Doing it manually is costly and time-consuming. However using a due diligence software solution, it’s possible to streamline the process and reduce the risk.
The ideal solution will give you tools for visual screening, vetting and monitoring third parties. It will also allow you to keep full audit trails as well as a central platform for all of your operations.
HyperComply, a comprehensive due diligence software, allows users to simplify their entire process. It includes a dashboard for vendors and provides a variety of useful tools like document management and data analysis, as well as collaboration tools, and much more. The solution includes a library with customizable templates to allow you to get more efficient and accurate results. It is a great choice for businesses that want to minimize the risk of a data breach and enhance their security procedures.
Whistic is a different vendor due diligence software that aims to aid organizations in speeding up the process by automating time-consuming tasks and providing comprehensive security assessment templates. It also contains the Whistic Trust Catalog which contains details about the security practices of a variety of vendors. This allows teams to evaluate vendors without submitting questionnaires and waiting for responses. Whistic pricing information is available on request.
Intralinks is another well-known due diligence software product that offers a wide range of tools to manage the process. Its efficient communication tools, centralized data room and unified reporting help to simplify managing the process. It also comes with tools to track project progress, coordinate meetings and facilitate the process of making decisions.
