How to Choose the Right Due Diligence Software

Due diligence is an essential step in any business transaction. Due diligence is an investigation to confirm the authenticity of information about the business and ensure that the assets or transactions are secure. This process can be very time-consuming and costly if it’s done manually. Due diligence software can speed up the process, while reducing risk.

The best solution will provide tools that allow you to visually examine, vet and continually monitor third parties. It should also permit you to maintain 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 for vendors and provides a variety of useful features like document management and data analysis, as well as collaboration tools, and much more. The solution also comes with an array of templates that can be customized to ensure faster and more accurate results. It’s a great option for companies that want to minimize the risk of a data breach and improve security operations.

Whistic is a vendor due diligence tool that can automate tedious tasks and also provides comprehensive security assessment templates. It also contains the Whistic Trust Catalog which contains information on the security posture of a multitude of vendors. This allows teams to evaluate vendors without needing to send questionnaires and wait for answers. Whistic pricing information is available on request.

Intralinks, a different popular software solution for due diligence, comes with a range of tools to help manage the process. Its easy-to-use communication tools as well as a virtual data room centralized and unified reporting makes it simple to manage. It also comes with tools to monitor project progress as well as coordinate meetings and aid in decision-making.

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