Due diligence is a crucial component of any investment or M&A transaction. Utilizing the right due diligence software tools can simplify the process and ensure that all relevant data is available for review.
A due diligence tool can lower the risk of acquiring third-party vendors. By automating the process of evaluating the security capability, compliance and governance, the right due diligence software systems solution can provide a more efficient and effective diligence process that reduces the risk of a data breach and other costly errors.
Kira is a cloud-based software platform that has grown to become one of the most popular solutions for due diligence in M&A. This due diligence software uses artificial intelligence to automatically detect and extract information from contracts. It comes with over 1,000 provision models built-in to provide the most frequently reviewed provisions. It also comes with an option that allows users to train the system for additional or specific clauses.
Another leading due diligence solution is CENTRL’s DD360 that provides one platform that simplifies the full due diligence process. Its dashboards that are single and comprehensive analytics along with reporting tools, allow users to focus on risk analysis instead of searching through several different solutions.
Whistic, an additional due diligence tool, offers numerous features that make it simpler to vet vendors. Its dashboard for vendors offers an accurate overview of all potential vendors for an organization and its automated templates and questionnaire scheduling can cut down on the time needed to hear back. Its machine-learning algorithm is able to fill questionnaires with up to 90 percent accuracy, which further speeds up the vetting process.