Due diligence is an essential aspect of any business transaction. Due diligence is an investigation to verify information about the company and to ensure that transactions or assets are safe. The manual process of conducting this investigation is costly and time-consuming. Due diligence software can help streamline the process, minimizing risk.
The best solution should include tools to visually check, vet and continuously keep track of third parties. It will also allow you to keep full audit trails discover here as well as a central platform for all your activities.
HyperComply is a comprehensive due diligence software that allows users to simplify the entire process. It has a vendor dashboard along with a host of useful features, like document management and data analytics, collaboration tools, and much more. The software also includes templates that can be customized to speed up and provide more precise results. It is a great option for businesses who want to reduce the risk of a data breach and improve security processes.
Whistic is a different vendor due diligence program that aims to assist organizations speed up the process by automating time-consuming tasks and providing comprehensive security assessment templates. It also includes the Whistic Trust Catalog which contains details about the security practices of a multitude of vendors. This lets teams evaluate vendors without needing to send questionnaires or wait for responses. Whistic pricing information is available upon request.
Intralinks is another well-known due diligence software solution that provides a variety of tools for managing the process. Its efficient tools for communication and virtual data rooms centralized and unified reporting makes it easy to manage. It also has tools to monitor progress as well as coordinate meetings and aid in decision-making.