Due diligence is an essential part of any M&A or investment transaction. Making use of the appropriate due diligence software can streamline the process and ensure that all pertinent data is available for review.

A good due diligence tool can help reduce the risk of purchasing third-party vendors. The best solution will automate the process of evaluating the security and compliance capabilities of the third-party. This will result in an efficient and cost-effective diligence process.

One of the most sought-after due diligence solutions for M&A is the cloud-based software platform Kira. Kira’s due diligence software makes use of artificial Intelligence to detect and extract data from contracts. It includes a library with more than 1,000 model of provisions that cover the most frequently reviewed provisions. It also includes a feature that enables users to program the system to incorporate additional or unique clauses.

Another top due diligence tool is CENTRL’s DD360 which is one platform that simplifies the entire process of due diligence. Its single dashboards, in-depth analytics and reporting tools allow users to concentrate on getting more insight into risk rather than navigating several different options.

Whistic, another due diligence tool, comes with numerous features that make it easier to assess vendors. Its dashboard for vendors gives an accurate overview of all potential vendors for businesses and its automated templates and scheduling of questionnaires reduces the time spent waiting for responses. Machine-learning algorithms can fill questionnaires up to 90 percent accuracy, which further enhances the vetting process.