Due diligence is carried out by a firm before investing in a business. This includes reviewing the company’s documents, verifying references and looking for any hidden information. Due diligence software can help companies manage the process. It lets them centralize and document processes such as assessments, financial diligence, and environmental, social, and corporate governance (ESG).
If you’re conducting due diligence in the field of technology, the person doing it will require your complete documentation for your product. This includes architectural diagrams, technical solutions and integrations, backup and recovery servers, and process frameworks used to develop the product. Having all of this documented can speed up the process and reduce the risks that could arise from a deal.
Another typical due diligence procedure is a tax exam, which is where the buyer reviews the tax profile of the company they are buying. This could uncover tax liabilities, such as overstated losses, under-reported expenses and tax liabilities for sales-and-use. It could also uncover tax deductions and credits.
A virtual data room is among the best tools available to ensure due diligence. It can serve as a secure space to store your files and share them with others. It should be able to work with file formats such as PDF, Word, Excel and more. It should also come with an option to search and browse, collaboration tools and file sharing. It should also permit drag-and-drop uploads with multiple security levels and a built in how to use your phone as a webcam viewer. It should also work with all major mobile devices and browsers. SS&C Intralinks is a good option, since it provides a powerful collaboration tool and an intuitive user interface. It has a trial version that can provide up to 10GB storage and 250MB of upload limit and is compatible with Android and iOS devices. It also includes security features like AES 256 bit encryption and ISO 27701 certificate.
