Due diligence is an investigation that an individual or business undertakes to verify information about an issue. Home buyers examining a property prior to buying, companies assessing the security practices of the potential acquisition target and employers conducting background checks for new employees are all examples. Due diligence software systems streamline the process and enable individuals to carry out investigations quickly.
The best due diligence software systems reduce costs, allow collaboration, and boost productivity. They also offer high levels of security and a user-friendly interface. SS&C Intralinks, for instance, offers drag-and-drop document uploading, multi-user access control, centralized communication tools, as well as a virtual data room that works with all devices and browsers. The platform can handle large amounts of data and can automate the manual process for hours, saving users time and money.
Whistic is another due-diligence software system that streamlines assessments for vendors by reducing necessity of sending questionnaires and having to wait for responses. Users can design custom and automated questions, access standard or premium security assessment templates, and collaborate with other team members. It also includes a searchable database that helps users find the information they need quickly and easily.
Other features of the top due diligence software include real-time analytics reporting and an adjustable dashboard. These tools keep teams informed and on the same page. They can make informed decisions regarding the status of their requests and spot risks that could impact the timeline of projects. They can also tailor permissions for each workspace, to avoid confusion and conflicts.