{"id":840,"date":"2019-10-22T10:20:10","date_gmt":"2019-10-22T14:20:10","guid":{"rendered":"https:\/\/treehousetechgroup.com\/?p=840"},"modified":"2021-05-20T11:18:07","modified_gmt":"2021-05-20T15:18:07","slug":"3-thing-you-should-know-about-the-future-of-due-diligence","status":"publish","type":"post","link":"https:\/\/treehousetechgroup.com\/3-thing-you-should-know-about-the-future-of-due-diligence\/","title":{"rendered":"3 Thing You Should Know About the Future of Due Diligence"},"content":{"rendered":"\n
The world of due diligence has come a long way. Now, it\u2019s poised for even more change as technology continues to shape the way lawyers and other parties secure agreements.<\/p>\n\n\n\n
In December 2018, Merrill Corporation<\/a> released the results of a poll of 400 dealmakers around the globe. According to the report, 22 percent of respondents say technology is the factor driving the most change in due diligence. That could be because another 36 percent of respondents say the private equity sector is becoming increasingly focused on speed and efficiency, two areas proven to benefit from advanced technology. <\/p>\n\n\n\n The report indicates technology is poised to solve a number of problems in due diligence. Thirty percent of respondents said technology will help address document self organization and project management, while 29 percent chose contract review, analysis and redaction. Another 20 percent said technology could help with predictive deal analytics, 12 percent said audit trails and regulatory readiness, and 9 percent said actionable benchmarks.<\/p>\n\n\n\n From this report, it\u2019s clear due diligence can benefit from new tech solutions, but there are a number of other ways tech will shape the process moving forward. Here are three things you need to know about the future of due diligence. <\/p>\n\n\n\n The Merrill report specifically references the increasing role of cybersecurity in the due diligence process and the ways in which technology can help protect data. Eight percent of respondents in the poll said tougher data protection was the factor driving the most change in due diligence, and 14 percent said cybersecurity threats were the greatest obstacle to ensuring data protection and privacy during the deal process.<\/p>\n\n\n\n In the future, due diligence teams will begin to prioritize cybersecurity and data protection in their processes. They will integrate technology to better document and assess risks and to implement uniform cybersecurity procedures to ensure data is protected. <\/p>\n\n\n\n While AI is currently being applied to a variety of industries, it\u2019s more than just a buzzword. AI can help due diligence firms automatically search unstructured documents and contracts and extract essential data. It can also help with privacy protection by redacting proprietary information and personal HR information.<\/p>\n\n\n\nCybersecurity<\/h2>\n\n\n\n
Artificial Intelligence<\/h2>\n\n\n\n