Due diligence is a key element of making high-stakes decisions like buying a house, selecting a college, or acquiring an enterprise. It’s also an integral part of everyday life, whether choosing an app, deciding on the safety of restaurants, or pondering your next career move. You must be well-informed and prepared prior to making any decision. This includes analyzing all the positive and negative aspects from every possible perspective. This is where due diligence software comes in.
Designed to streamline the vendor due diligence process, HyperComply offers automation tools that include a variety of questionnaire templates, and collaborative features. It also makes it easy for procurement managers to assess the security of vendors due to its machine-learning algorithms that fill in security questionnaires with greater than 90% accuracy.
Nexis Diligence is another popular solution that assists companies in monitoring third-party entities and minimize risk. Users can look up more than 1.4 million people, track domestic sanctions lists and find politically exposed individuals (PEPs). Nexis Diligence helps companies screen potential employees, by checking their background and social media accounts. It also checks criminal records, educational levels, and much more.
Other due diligence tools like the CENTRL DD360 software lets companies centralize their search, filter and filtering of documents as well as issues, assessments and documents. It lets users collaborate both within their organization as well as with external parties, while preserving the audit trail and limiting access. DD360 also includes reports and dashboards that highlight the risks, exceptions and more. It is used by OCIOs and asset owners, as well as wealth management groups.