A unique feature of the Next Generation Due Diligence system are the Due Diligence Standards (DDS) that contain the set of minimum requirements for an effective due diligence support process, including management system requirements suitable for evaluation by a third party (e.g., ISO 9000 Registrars). The DDS prescribes the necessary steps essential in performing and reporting the results of a due diligence support process, including the following:
- The minimum criteria to be evaluated for an effective due diligence support process
- Methods of rating the associated risks
- Content requirements for reporting the conclusions of a due diligence support process with recommendations
The Due Diligence Standards provide the Company with important industry recognition. The DDS is the first standard for the due diligence process. The primary benefits to a standardized approach to due diligence products and support include the following:
- Reduces risk, increases confidence and enhances company image
- Forms an integral part of a customer’s management system
- Provides regular independent assessment of due diligence support systems
- Can be recommended to suppliers as part of both a company’s and its suppliers’ due diligence support