Due diligence software is a digital tool that is used to simplify procedures for conducting extensive reviews and analyses prior to making acquisitions, investments or mergers. The software is used primarily by financial institutions like venture capital companies, investment banks, as well as other businesses that have to conduct deals with high priority. These include healthcare biotech, life sciences, licensing and partnership, M&A, intellectual property management, and other business procedures that require a thorough investigation of the history of the buyer company.
Based on the kind of due diligence process you’re conducting, you can choose among a variety of vendors offering specific features that meet your requirements. HyperComply, Whistic and others are among the vendors who offer these features. HyperComply is designed to make it easier for due diligence of vendors by automating tedious tasks and providing detailed questionnaire templates. It also offers e-signature features to speed approval of documents and agreements. Additionally, it comes with easy Q&A tools that allow efficient communication between teams. It also ensures that all questions are answered in a timely manner, preventing any ambiguity or risk.
Whistic is another top-rated vendor. It simplifies due diligence for vendors by providing an inventory of over 1,000 vendors who have been evaluated. It also offers a visual dashboard that provides a quick overview of ongoing and triggered reviews. It can also monitor alerts, manage issues and pre-populate responses.
Midaxo is another alternative to a platform that is able to perform due diligence. It gives a free trial, along with various features, including a mobile application, document upload limits and collaboration tools. It is used by a range of businesses, including wealth management companies and asset managers.