3 steps to execute fast, effective vendor due diligence
Follow the steps to copy your document index into Deal Workflow. Drive new efficiencies and quickly illuminate issues in vendor due diligence.
As an advisor or law firm, conducting this independent analysis and evaluation of your client’s business performance, risks, and opportunities for potential investors can quickly absorb your time, especially if you’re executing the process across client-provided systems, or multiple spreadsheets, emails, Dropbox or Google Drive.
Now, you can execute vendor due diligence in 3 simple steps – and a fraction of the time - and centralize this information to use in subsequent stages of the deal. Best of all, it all takes place in the same environment as the rest of the deal. Retaining a copy of these reports serves as an invaluable source of material for ongoing risk registers and transactional events for you and your client.
Follow the steps to coordinate and centralize review across deal teams quickly.
1. Upload the documents to the index in your Data RoomDoes your client have a pre-existing dataset? Upload the documents into your Data Room index. (If your client doesn’t have one, you can create a template for them or get in touch and we’ll create one for you.) Execute all of this preparation for free in Ansarada Deals.
Now you get a duplication of the index with links to each document - so the index remains the single source of truth: no more version control issues or lengthy back-and-forths. Learn more about importing your Excel spreadsheets here.
2. Copy the index to Excel, and then add it into your Workflow space
3. Add columns for findings, tagging, notifications, and statusOnce your dataset is in there, add in helpful columns from the system to bring it to life, such as a user column to assign responsibilities to team members. Add a status column to track progress, which you can filter to highlight priorities. Add in a date range to instantly visualize your workflows with a Gantt chart view.
You can choose to manage all your activity in one tab or set up separate and discrete tabs for lawyers, accountants, bankers, etc.
By default, when you create a new tab, nobody can see it; you get to decide which teams you want to enable viewing for and get that reassurance. Create your client-facing tab if you want them to see the duck on the pond (and not the legs wildly paddling underneath).
The benefitsTurn your spreadsheet or word document into a fully digitized and centralized review process. Cut down on emails, risks, and get everything you need to find to present your client in one place.
Speed up vendor due diligence, reduce duplication, and finish your deal with a single, transparent record of every part of the process from VDD to completion.
Centralize your end-to-end deal processes with WorkflowVendor due diligence is just one way to use the Deal Workflow tool.
The beauty of your vendor due diligence, NDA/Process Letter tracking, deal due diligence and disclosure records, Q&A, and completion all in one complete archive with a full audit-record of the process? Priceless.
Get a quote and get started now in seconds – with nothing to pay until the deal goes live.