- Free Version: Available for teams of up to 10
- Pricing: Premium plan $24/month (with a free 30-day trial period)
- Platforms supported: Available on mobile app (iOS and Android) or a web-based software
Why use SafetyCulture?
SafetyCulture is an industry-leading cloud-based inspection solution used when conducting investigations before making invaluable mergers or investments. The platform offers numerous due diligence templates (e.g., legal, financial, asset, and operational) that managers or auditors can use when reviewing historical records of third-party groups. These downloadable templates can be converted into comprehensive reports that enable data-driven decision-making, ensuring the success of any venture they engage in.
Features:
- Build due diligence templates from scratch or choose any of the applicable checklists available for download in the Public Library.
- Convert paper forms into digital documents and safely secure them in a central repository for record-keeping.
- Schedule due diligence evaluations and alert relevant personnel via Heads Up.
- Document investigations, attach photos and videos to highlight critical findings, and immediately share with relevant stakeholders for review.
- Confirm facts about the investigation and gain more understanding of findings with robust analytics.
Why use Riskonnect?
This integrated GRC (Governance, Risk, and Compliance) solution can be utilized for due diligence investigations since it allows firms to consolidate risk-related information and map it out to foresee probable outcomes.
Features:
- Document management
- Workflow automation
- Compliance tracker
- Free Version: None
- Pricing: Available upon request (free demo provided)
- Platforms supported: Web
Why use DiliTrust Governance Suite?
This all-in-one governance platform offers a complete range of digital tool that helps companies guarantee financial and legal transparency, mitigate risks, and comply with regulations. With its improved communication functionality and overall workflow automation, DiliTrust Governance Suite is the go-to solution when conducting due diligence.
Features:
- Document management
- Risk assessment
- Collaborative tools
- Free Version: None
- Pricing: Available upon request (free demo provided)
- Platforms supported: Web, On-premise, iOS, Android
Why use Resolver?
This cloud-based GRC solution helps organizations detect risks during due diligence activities to handle possible uncertainties and make the best decision for their company during mergers or when making new investments.
Features:
- Enterprise risk management
- Regulatory compliance
- Incident investigations and management
- Free Version: None
- Pricing: Available upon request
- Platforms supported: Web
Why use Ideagen?
This GRC platform helps companies protect their people, clients, and operations by allowing full collaboration among stakeholders, automating review and reporting, and improving risk mitigation when conducting due diligence activities.
Features:
- Workflow and automation
- Document collaboration
- Analytics and insights
- Free Version: None
- Pricing: Available upon request
- Platforms supported: Web, iOS, Android
Why use Quentic?
This platform integrates EHSQ (Environment, Health, Safety, and Quality) and ESG (Environment, Social, and Governance) so that due diligence reviews are efficiently conducted and subsequent reports are promptly generated.
Features:
- Risks and audits
- Incidents and observations
- Workflow automation
- Free Version: None
- Pricing: Available upon request (free demo offered)
- Platforms supported: Web, iOS, Android
Why use StandardFusion?
This integrated GRC solution helps companies conduct internal and external audits so they can effectively identify possible risks and plan mitigation strategies before signing up any third-party vendor or service provider.
Features:
- Risk assessment
- Compliance management
- Reporting with analytics
- Free Version: None
- Pricing: Starts at $1,500 per month for 3 practitioners (with a 14-day free trial)
- Platforms supported: Web, On-premise
What is Due Diligence Software?
Due diligence software is a specialized digital tool that automates various workflows when conducting comprehensive investigations and evaluations before mergers, acquisitions, or investments are undertaken. While the software is traditionally for financial institutions like venture capital firms and investment banks, this may be used by companies in other sectors like manufacturing, retail, and healthcare as this presents accurate data about any high-priority transactions, analyzes information, and helps managers and top administrators make better decisions to benefit their business and stakeholders.
Benefits
There is nothing more labor intensive than undertaking due diligence. But evaluating the assets and liabilities of a potential partner or the pros and cons of a particular product or service is critical to the success of any venture. Aside from making the task faster and easier, here are the other benefits of employing a digital solution.
- Better data organization – Since there are vast amounts of documents to review, the software helps with efficient recordkeeping, secure storage, and quick retrieval for sharing.
- Efficient documentation and reporting – After completing the review, auditors can create reports of key findings and recommendations and then send these to relevant stakeholders, ensuring that industry best practices are upheld.
- Ensured collaboration – The software allows everyone involved in the due diligence process to communicate effectively, track each other’s progress, and coordinate effectively for prompt decision-making.
Key Features
Due diligence software may be a stand-alone application or a module of a more comprehensive management or GRC platform. Whichever your company goes for, make sure that it has the essentials:
- Document management
- Checklists and template archive
- Data security and privacy
- Workflow automation
- Task management
- Due diligence reporting
- Data analytics
- Collaborative tools
Selecting the Right Due Diligence Software
The digital solutions detailed above will be beneficial to your company when conducting due diligence activities. Take another look at the seven top-rated options below before deciding which is the best due diligence software for you:
| App Name | Free Version | Paid Plan | Mobile App |
| SafetyCulture | Yes | $24/user/month* | Yes |
| Riskonnect | No | Contact for pricing | No |
| DiliTrust Governance Suite | No | Contact for pricing | Yes |
| Resolver | No | Contact for pricing | No |
| Ideagen | No | Contact for pricing | Yes |
| Quentic | No | Contact for pricing | Yes |
| StandardFusion | No | $1,500/month | No |
*billed annually
Eunice Arcilla Caburao