What is needed for Due Diligence?
Due Diligence services are produced using data. Depending on the type of due diligence taking place, access to a company's financial records, contract details, and historical performance may all be required. Typically, a data room is established to collate everything needed for the process.
Challenges may appear when access to information is limited, coordination between relevant stakeholders breaks down, or it is not possible to balance confidentiality with transparency. Adapting best practices in regard to due diligence - such as clear communication, thorough documentation, the ability to adapt to industry specifics, and appointing a skilled and experienced team - will ensure the process can run smoothly.