The Due Diligence Process is Broken
Nearly two thirds of analysts' time is spent on the data gathering process, with only a third spent on actual analysis.
In order to do their work, finance professionals (management consultants, lenders, investors, M & A bankers etc.) ask for a lot of information from their clients. The majority of what's needed is data or document based.
The problem with the process is multiple disconnected systems are needed, for example, email to discuss requests and send small files, a cloud drive to transfer large and bulk files, and Excel to track the status of requests.
Combining and making sense of the data, documents, and comments from all the separate systems, folders, email chains, etc. can take hours by itself. Anyone who's had to update a request list knows this.
|1||Income statements for last 24 months||In Process||Received in email dated 1/5/16 from Cindy; please resend in Excel|
|2||Balance sheets for last 24 months||In Process||Received in email dated 1/7/16 from David; missing November 2014|
|3||A/R agings for last 24 months||Open||Not provided|
|4||Articles of incorporation||Closed||In Dropbox folder titled "Organizational"|
|5||Permits and contracts||Closed||In multiple Dropbox folders titled "Legal," "Suppliers," and "Vendors"|
The Things for Work Diligence Assistant Software is the Solution
The Things for Work Diligence Assistant is an integrated cloud collaboration tool designed for finance professionals and their clients. The software combines workflow tools, file sharing, and team chat to streamline the due diligence process. Diligence Assistant even integrates with selected accounting systems to allow clients to respond to requests at the click of a button!
Who is this for?
Anyone in professional services and their clients who regularly transfer information back and forth. Below is a list of a few such individuals:
|Mergers & Acquisitions||Sellside or buyside due diligence|
|Commercial Lending||Loan originations, underwriting, or ongoing covenant monitoring|
|Private Investing||Private equity or venture capital due diligence and portfolio monitoring|
|Management Consulting||Data requests to support analyses|
The Things for Work Team
Worked in the Investment Banking & Capital Markets Group of Wells Fargo Securities for five years as an Associate and Analyst, providing mergers & acquisition advisory and capital markets execution for middle market companies throughout the U.S. Graduated from Princeton University with a B.S.E. in Operations Research & Financial Engineering; awarded the Ahmet S. Cakmak Thesis Prize for his work on driver behavior as it affects freeway traffic flows.
Worked at Microsoft for three years as a Software Engineer focusing on distributed web systems. Graduated with a B.S. and M.S. in Computer Science from University of Illinois at Urbana-Champaign.
Worked at Microsoft for three years as a Software Engineer on Office's Lync Server Performance Team and Cloud Deployment Team. Graduated from Princeton University with a B.S.E in Operations Research & Financial Engineering and a minor in Computer Science. On a leave of absence from the graduate school at Columbia University, where he was pursing a Masters of Machine Learning.