Due diligence is a crucial element in any business transaction. Due diligence is a process to verify information about the business and to ensure that assets or transactions are safe. The manual process of conducting this investigation can be costly and time-consuming. However using a due diligence software program, it’s possible to streamline the process and minimize the risk.
The right solution will provide tools for visual screening, vetting and monitoring of third parties. It should also offer complete audit trails and an integrated platform for all your activities.
HyperComply is a comprehensive due diligence software that permits users to simplify the entire process. It includes a dashboard for vendors and offers a range of useful features like document management, data analysis, collaboration tools, and much more. It also offers an array of templates that can be customized to speed up and provide more precise results. It is a great option for businesses that wish to reduce the risk of a data breach and improve security processes.
Whistic is an instrument for vendor due diligence that can automate tedious tasks and offers detailed security assessment templates. It also comes with the Whistic Trust Catalog which contains details about the security practices of a multitude of vendors. This allows teams to review vendors without having to send questionnaires and then wait for responses. Whistic pricing information is available on request.
Intralinks is another well-known due diligence software product that provides a variety of tools to manage the process. Its streamlined communication tools, centralized data room and unifying reporting make it easy to manage the process. It is equipped with tools to track the progress of a project, scheduling meetings, and aiding in decision-making.