Do you want to make the due diligence process for your business easier, more efficient, and cost-savvy? Find the best Due Diligence Software in the industry:
Due diligence is the process of collaboration between a buyer and a seller, for the purpose of sharing company records and other information.
The process of mergers and acquisitions can not happen unless the buyer has full knowledge about the target company that he is going to acquire or merge with.
Thus, the buyer gets due diligence software for that purpose.
What You Will Learn:
What is M&A Due Diligence Software Platform?
This software offers the following top features:
- Virtual data room for due diligence documents.
- You can upload your documents to the virtual data room securely and add participants (third parties/buyers/bidders) to the room who can view or download the documents
- E-sign feature
- Q&A tools
- Watermarking to ensure the safety of your documents
- Data security
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In this article, you will get a list of the top best due diligence software. Detailed reviews are given about each of the software so that you can get enough information on which one to choose.
Market Trends: As per a report by Markets and Markets, the global Virtual Data Room market had an estimated value of $1.6 billion in 2021, which is expected to grow at a Compound Annual Growth Rate (CAGR) of 14.5% from the year 2021 to 2026 and reach a net worth of $3.2 billion by 2026.
Expert Advice: Data Security should be the most important thing that you should keep in mind while making a due diligence software checklist. Plus, a number of file formats are supported and data storage allowed should also be looked after beforehand.
Frequently Asked Questions
Q #1) What is due diligence software?
Answer: Due diligence software is a platform for centralizing the due diligence process and making it more efficient and time savvy, by offering tools for secure virtual data storage, collaboration with third parties, communication, and investigation tools, all in a single place.
Suggested Reading =>> Comparisons of the top Virtual Data Room providers
Q #2) Why is it called due diligence?
Answer: The term ‘Due diligence’ is made of two words: Due and Diligence. Due is a Latin word that means ‘to owe’ and diligence means ‘attentiveness’. Thus, procedures that need your utmost attention so that you do not fall into a trap come under the category of ‘Due Diligence’.
Q #3) What is the due diligence checklist?
Answer: A due diligence checklist is an organized way of undertaking the due diligence process so that no important task is left undone.
A due diligence software checklist may include the following points:
- Learn about the company’s assets
- Liabilities of the company
- Its contracts
- Benefits
- Growth potential
- Potential risks involved
Q #4) How secure is a virtual data room?
Answer: Storing important documents from your company in a virtual data room is highly secure, as almost all virtual data room providers offer you standard data security in the form of certifications and compliance.
They also ensure data encryption, run audit trails, and adopt 24/7 monitoring measures in their data centers to avoid any data discrepancies.
Q #5) What is a data room due diligence?
Answer: A data room or a virtual data room is basically cloud storage provided to store your company’s documents, in order to keep them secure and share them with potential third parties.
List of the Best Due Diligence Software
Listed below are popular Due Diligence software solutions:
- iDeals
- DealRoom
- DD360
- ShareVault
- DiliVer
- Midaxo
- Nexis Diligence
- GAN Integrity
- Box
- Intralinks
Comparison of Some Best Due Diligence Solutions
| Software Name | Deployment | Price | Customer Services | Data Security |
|---|---|---|---|---|
| iDeals | On Cloud, SaaS, Web, Mac/Windows/Linux desktop, Windows/Linux Premises, Android/iOS mobile, iPad | Starts at $460 per month | 24/7 services through email, chat and phone. | SOC 1/2 & ISO 27001:2013 Certification and GDPR, HIPAA, PCI DSS compliance |
| DealRoom | On Cloud, SaaS, Web | Starts at $1,000 per month | 24/7 support through email, chat and phone. | 256-bit AES data encryption, Compliance with data privacy laws, SOC 1/SSAE 16/ISAE 3402, SOC 2 Type II, ISO 9001 / ISO 27001 certifications |
| DD360 | On Cloud, SaaS, Web | Starts at $2,100 per month | Email, Phone Support, Knowledge Base. | SSAE-16 Type II compliant data centers, AES-256/SHA2 encryption. |
| ShareVault | On Cloud, SaaS, Web, Mac/Windows desktop, Android/iOS mobile, iPad. | Contact directly for a price quote. | 24/7 support through email and phone. | ISO 27001:2013 Certification, AES 256 encryption, GDPR, HIPAA compliance. |
| DiliVer | On Cloud, SaaS, Web | Contact directly for a price quote. | 24/7 customer services. | Standard data security practices are adopted. |
Detailed Reviews:
#1) iDeals
Best for being an easy-to-use and cost-effective platform.
iDeals offers you tools that help you in closing your deals faster. This 14-year-old due diligence data room service provider is one of the best in the field.
The data center is ISO 27001, certified and audited by EY. They guarantee 99.95% uptime, 24/7/365 customer support in 11 global languages, give you graphic reports representing bidder activity, and much more. This powerful platform makes the due diligence process extremely smooth and time savvy.
Deployment: On Cloud, SaaS, Web, Mac/Windows/Linux desktop, Windows/Linux Premises, Android/iOS mobile, iPad
Data Security: SOC 1/2 & ISO 27001:2013 Certification and GDPR, HIPAA, PCI DSS compliance to ensure utmost data security.
Customer Services: 24/7 service through email, chat, and phone.
Companies using iDeals: BDO, Accenture, KPMG, Toyota, LG, Deloitte
Supported Languages: 12 (English, Deutsch, Espanol, Portuguese, French, Chinese, Turkish, Nederlands, Polski, Italian, Svenska, Japanese, Ukrainian)
Features:
- Examining the financial condition of the target company, for example, checking balance sheets and other financial documents.
- Investigating whether or not the target company has any sort of risky legal liabilities.
- Tools to audit the IT infrastructure deployed by the company.
- Tools to check financial statements, tax returns, and audits.
- Tools to analyze operations, to look for any possible risks.
Pros:
- High data security.
- 24/7 customer services.
- Ease of use.
Cons:
- Prices become very high when the files are of large size.
Verdict: The virtual data room, collaboration, and security features offered by the platform are praiseworthy. The software is easy to use and compatible with all devices and browsers.
The drag-and-drop document upload features, ability to upload files of 25+ formats and many other features make this platform a highly recommended one.
Price: There is a 30-day free trial. Price plans offered by iDeals are as follows:
- Pro: Starts at $460 per month
- Business: Contact directly for pricing details.
- Enterprise: Contact directly for pricing details.
Website: iDeals
#2) DealRoom
Best for data security and easy-to-use tools for the due diligence process.
DealRoom offers you powerful tools for organizing, managing, and creating the due diligence process.
This 10-year-old company was built with the mission of making complex M&A deals more innovative, collaborative, people-driven, and equitable. Another virtue of this company is that it pledges to donate 1% of its equities, profits, time, employees, and software licenses to the community.
Deployment: On Cloud, SaaS, Web.
Data Security: 256-bit AES data encryption, Compliance with data privacy laws, SOC 1/SSAE 16/ISAE 3402, SOC 2 Type II, ISO 9001 / ISO 27001 certifications.
Customer Services: 24/7 support through email, chat, and phone.
Companies using DealRoom: Johnson & Johnson, Energizer, Allstate, Emerson, and more.
Supported Language: English
Features:
- Tools to track the process.
- One unified place for collaboration and communication.
- Easy drag-and-drop tools to upload your documents and save them digitally, in a secure place.
- 10+ templates to help you start the diligence process right away.
Pros:
- Data security.
- Easy to use tools.
- All-in-one M&A platform.
- Integration with Slack, Salesforce, Marketo, and more.
Cons:
- No mobile application.
Verdict: Trusted by more than 2,000 companies from all over the world and being awarded as ‘SOURCEFORGE Leader – Spring 2022’, ‘Crozdesk High User Satisfaction, 2022’, and more, DealRoom is a highly useful and recommended platform for easing up the due diligence process.
Price: There is a free trial for 14 days. Price plans offered by DealRoom are as follows:
- Pipeline only: $1,000 per month
- Single Project: $1,250 per month
- Cross-Team Professional: Contact directly for prices.
- Enterprise: Contact directly for customized prices.
Website: DealRoom
#3) DD360
Best for the digital transformation of the due diligence process.
DD360 is a due diligence management software used by asset owners, OCIOs, asset managers, wealth management groups, consultants, and more. The platform offers you tools for workflow automation, collaboration, automated report generation, and more.
This 33-year-old transformation and digitization platform is powerful, secure, and highly recommended for the due diligence process.
Deployment: On Cloud, SaaS, Web
Data Security: SSAE-16 Type II compliant data centers, AES-256/SHA2 encryption.
Customer Services: Email, Phone Support, Knowledge Base.
Companies using DD360: Salesforce, Netflix, Petco, Grant Thornton, Upwork, New York Community Bank, and more.
Language Supported: English
Features:
- Automation tools for DDQ (Due Diligence Questionnaire) and RFI (Request For Information) workflows.
- Automatic report generation tools.
- Virtual data room for secure storage of your important documents.
- Analytical tools for extracting answers from DDQs and more.
Pros:
- High data security.
- Highly useful automation tools.
Cons:
- Costly
Verdict: The platform claims to increase team efficiency by 50%, reduce risks and give you a better insight into the deal process with the help of analytical, reporting, and auditing tools.
This cloud-based platform is suitable for businesses of all sizes.
Price: Price plans are as follows:
- Professional: $2100 per month
- Professional Plus: $3500 per month
- Enterprise: Contact directly to get a price quote.
Website: DD360
Best for being simple and easy to use.
ShareVault offers you transformation tools for the due diligence process. Plus, you get bank-grade security, cloud-based deployment, integration tools, and much more.
ShareVault is used in the industries like Life Sciences, Financial Services, Legal Services, Investment Banking, Private Equity, Oil & Gas, and more.
The platform has some interesting modern-day tools to make the due diligence process efficient, fast, and secure.
Deployment: On Cloud, SaaS, Web, Mac/Windows desktop, Android/iOS mobile, iPad.
Data Security: ISO 27001:2013 Certification, AES 256 encryption, GDPR, HIPAA compliance.
Customer Services: 24/7/365 customer support through email and phone.
Companies using ShareVault: Abbott, LG, Deloitte, and more.
Languages Supported: Arabic, Bengali, Czech, Danish, Greek, English, Persian, French, Hebrew, Hungarian, Armenian, Japanese, Korean, Latin, Mongolian, Punjabi, Polish, Spanish, Thai, Chinese (Simplified), Tibetan.
Features:
- Drag and drop tools to upload documents.
- E-signature feature.
- Q&A, inter-document hyperlinking, bulk downloading, and more features.
- Smart search and filtering tools.
- Detailed audit trail and powerful reporting tools.
Pros:
- Praiseworthy Customer Support.
- Easy-to-use platform.
- Integration with third-party apps like Microsoft 365, Box, Dropbox, and more.
Cons:
- Less intuitive compared to its alternatives.
Verdict: ShareVault offers you a virtual data room for due diligence. The platform is secure and has a good customer support team.
The platform has won awards like ‘High Performer – Winter 2022’ and ‘Momentum Leader – Winter 2022’, and is suitable for organizations of all sizes, for storing their due diligence documents.
Price: There is a free trial for 7 days. Price plans offered by ShareVault are as follows:
- ShareVault Express
- ShareVault pro
- ShareVault Enterprise
Contact them directly to get a price quote for each plan.
Website: ShareVault
#5) DiliVer
Best for offering data-driven solutions that help in decision-making.
DiliVer is an American company that offers virtual data rooms for due diligence. This Financial Technology M&A due diligence software helps the buyers as well as the sellers.
The advanced analytical tools offered by the software help in analyzing an enterprise’s performance and growth potential, thus leading to reduced risks. They also offer consulting services for M&A life cycle management.
Deployment: On Cloud, SaaS, Web
Data Security: Standard data security practices are adopted.
Customer Services: 24/7 customer support services.
Customers using DiliVer: Johns Hopkins University, KiwiTech, Founder Institute, and more.
Language Supported: English
Features:
- Analytics data to help you in decision making.
- Consulting services including ‘Auxiliary services’ and ‘ Optimization services.
- Tools for measuring a seller’s enterprise performance and growth potential.
- Software product named MAST is offered in 3 forms including MAST Buy-Side Due Diligence Application (BDDA), MAST Sell-Side Due Diligence Application (SDDA), and MAST Unification Due Diligence Application (UDDA).
Pros:
- Standard Data Security.
- Highly useful data analysis tools.
Cons:
- No mobile application.
Verdict: DiliVer is an award-winning virtual due diligence data room service provider. Having $8 million+ as annual revenue, the software is popular and recommendable for businesses of all sizes.
Price: Contact directly for a price quote.
Website: DiliVer
#6) Midaxo
Best for being an all-in-one M&A management platform.
Midaxo is one of the top due diligence software. The company currently offers its services in 5 countries and has offices in Helsinki, Boston, and Amsterdam. It is a unified platform for CRM, VDR, reporting, spreadsheets, and task tracking.
Deployment: On Cloud, SaaS, Web, Android/iOS mobile devices
Data Security: ISO 27001 Certified and GDPR, HIPAA compliant.
Customer Services: Available through email, phone, and a knowledge base.
Companies using Midaxo: Cognizant, Woodbridge International, Philips, Danfoss, Ascensus, Samsung, and more.
Language Supported: English
Features:
- Centralized Data Management.
- Workflow automation and notification tools.
- Consistent reporting and visibility tools.
- Project and document management tools.
- Free Learning Resources.
Pros:
- A secure, cloud-based platform.
- Centralized Document Management.
- Mobile applications for Android as well as iOS users.
Cons:
- Steep learning curve.
Verdict: The company claims to reduce your due diligence costs by 50%, and offers you centralized communication tools, a virtual data room, reporting tools, and much more.
Having more than 300 clients, Midaxo increases the M&A velocity by up to two times and ensures quality with the help of its powerful tools for due diligence and M&A life cycle management.
Price: There is a free trial for 7 days. Contact them directly to get a price quote.
Website: Midaxo
#7) Nexis Diligence
Best for assessing potential risks from any third-party business or person that interacts with your business.
Nexis Diligence is a well-established, reputed company that offers you data on 200 million+ companies, including their legal history so that you can make informed decisions for M&A and due diligence.
The platform also offers you risk mitigation guides and expert advice on due diligence.
Deployment: On Cloud, SaaS, Web
Data Security: ISO, FDA, HIPAA compliant data security.
Customer Services: 24/7 online and phone support is available.
Companies using Nexis Diligence: Avensure, Ashfords, Durham County Council, Eversholt Rail, and more.
Language Supported: English
Features:
- 82 billion public records from over 10,000 data sources, to give you a 360° view of any person or company.
- Analytical resources and data-driven reports.
- Tools to monitor current statutory, case law, and regulatory developments.
- Integrate with many third-party applications like CounselLink, CourtLink, Availity, CaseMap, and more.
Pros:
- Tools to make informed decisions.
- Attractive interface.
Cons:
- A bit difficult to use at the beginning.
- Customer service is reportedly not up to the mark.
Verdict: Nexis Diligence has been awarded as The National Law Journal Best of 2022 Survey, Best Leadership Teams, and Best Company for Professional Development by Comparably.
The UI of Nexis diligence is appealing. We found the searching tools to be very nice. But customer service is reportedly not as good as expected.
Price: There is a free trial for 7 days.
Price plans are as follows:
- Essentials: $595 per month
- Premium: $842 per month
- Premium International: $978 per month
Website: Nexis Diligence
#8) GAN Integrity
Best for continuous monitoring of third parties.
GAN Integrity is a software that manages the due diligence process. The application offers you tools for capturing data, collaborating with stakeholders, and centralizing operations like risk management and more.
The platform also offers you some highly beneficial learning resources on topics like Case Management, Third Party Risk Rating, and more.
Deployment: On Cloud, SaaS, Web
Data Security: ISO 27001 and SOC 2 certifications to ensure data security.
Customer Services: 24/7 support is available.
Companies using GAN Integrity: Lonza, Biontech, Live Nation, Circor International Inc., and more.
Language Supported: English
Features:
- Automated screening tools to give you updated information about third parties.
- Automated alerts to inform you about any newly detected events.
- Tools to create, manage and approve third parties.
- A centralized platform for maintaining full audit trails of all actions and documents.
Pros:
- Customer support is nice.
- API Access.
Cons:
- No mobile application.
Verdict: The platform helps you in visualizing screening, vetting and continuously monitoring every third party that you do business with, thus increasing transparency and efficiency, and reducing risks.
This Cloud-based due diligence management software is more suitable for large enterprises.
Price: Contact directly for prices.
Website: GAN Integrity
#9) Box
Best for offering simple deal management tools.
Box is a virtual due diligence data room provider. The platform has some modern, user-friendly data room due diligence solutions for businesses of all sizes.
The solutions offered include M&A due diligence, bidding, and negotiation tools, plus a mobile application for easy access to the features.
Deployment: On Cloud, SaaS, Web, Mac/Windows desktop, Android/iOS mobile, iPad
Data Security: GDPR compliance and Data encryption.
Customer Services: 24/7 live support is available.
Companies using Box: Airbnb, Morgan Stanley, Intuit, U.S. Airforce, and more.
Language Supported: Dutch, English, French, German, Italian, Japanese, Spanish, Swedish
Features:
- Allows you to store and preview 120+ file types.
- Tools for collaboration with the bidders, inviting participants to share and manage files.
- Permission controls.
- Watermarking to ensure the security of documents.
- MI-based tools for extracting information from documents
Pros:
- More than 1400 integrations including DocuSign and O365
- Mobile application for easy access to your files
- A free plan for a single user
Cons:
- You need to buy additional storage for your files, which makes the platform a bit more expensive than its counterparts.
Verdict: Box is a highly trusted and popular platform for the due diligence data room. The platform offers you a free version that offers you up to 10 GB of storage, 250 MB of file upload limit, secure file sharing tools, mobile app collaboration, and much more.
The platform is simple and easy to use, which is the biggest plus point and makes it highly recommended.
Price: Box offers a 14-day free trial for each plan. Price plans for businesses are as follows:
- Business: $15 per user per month
- Business Plus: $25 per user per month
- Enterprise: $35 per user per month
- Enterprise Plus: Custom Pricing
Three other plans for individuals and teams are also offered:
- Individual: Free (for a single user)
- Personal Pro: $10 per month (for a single user)
- Business Starter: $5 per user per month (for business teams)
Website: Box
#10) SS&C Intralinks
Best for collaboration tools.
SS&C Intralinks is a due diligence software that offers you easy-to-use tools for file management, AI-based organization and analytical tools, collaboration and automation tools, and much more.
The platform currently has more than 3.1 million registered users and executes over 6,000 transactions per year.
Deployment: Cloud, SaaS, Web, Android/iOS mobile, iPad.
Data Security: AES- 256-bit data encryption, ISO 27701 certification, and GDPR compliance.
Customer Services: 24/7 customer support.
Companies using Intralinks: Pinnacle Foods, Raymond James, Galicia, Flipkart, Starbucks, and more.
Languages Supported: German, English, French, Hindi, Italian, Japanese, Korean, Portuguese, Russian, Spanish, Swedish, Chinese (Simplified).
Features:
- Secure mobile access.
- Access control tools, and simplified collaboration tools.
- Watermarking, to ensure the security of your documents.
- Intralinks Q&A feature allows you to automatically route the buyer’s questions to the subject matter experts.
Pros:
- Supports 10+ global languages.
- Mobile application.
- Data security.
Cons:
- Lacks some advanced features, including detailed reporting and more.
Verdict: SS&C Intralinks offers modern, simple, and powerful tools for managing the due diligence process. The mobile application is a plus point.
Plus, data security features and deal management tools are praiseworthy, though the platform needs to add some more advanced tools for due diligence.
Price: Contact directly to get a price quote.
Website: SS&C Intralinks
Conclusion
The due diligence process is a crucial part of the M&A life cycle. The process is necessary to reduce the risks while stepping into an M&A process.
The buyers, as well as the sellers both, benefit from this process. The seller can do a self-assessment that can help him get potential buyers. And, the buyers will do a performance check and measure the growth potential of the target company, in order to make an informed decision.
But, this process can be quite troublesome, so there is the solution of due diligence software that help companies by offering tools for creating virtual data rooms, where they can store their company documents securely, add participants, who can view or E-Sign the documents, communicate with the parties, and much more.
The top best due diligence software is iDeals, DealRoom, DD360, ShareVault, Midaxo, and GAN Integrity.
Research Process:
- Time is taken to research this article: We spent 12 hours researching and writing this article so you can get a useful summarized list of tools with a comparison of each for your quick review.
- Total tools researched online: 19
- Top tools shortlisted for review: 10