The Evolution of Due Diligence in the World of Business Consulting.

The role of Due Diligence in the world of business consulting has undergone significant evolution. During merger and acquisition operations, the Due Diligence phase plays a fundamental role as it allows for a detailed analysis of the financial, economic, and legal situation of the target company. In the dynamic context of business consulting, the critical phase of Due Diligence in mergers and acquisitions has always required a meticulous and professional approach. The importance of this phase is evident not only in ensuring the success of the operation but also in managing and protecting highly sensitive data. Large consulting firms have traditionally played a key role in supporting companies in the exchange and cross-verification of the multitude of information to be examined.

The Traditional Approach

In the past, the sharing of documentation occurred through centralized cloud platforms managed directly by consultants. While this method provided efficiency, it also presented significant challenges in terms of security and privacy. Data, collected in a single access point, were exposed to numerous cyber threats.

Regulatory Evolution

Over time, the increase in cyberattacks and the introduction of increasingly stringent regulations, such as the European GDPR, have emphasized the need to adequately protect exchanged information. Consulting firms have found themselves in the position of having to radically change their processes and digital infrastructures.

Transition to Decentralized Clouds in Business Due Diligence

Today, blockchain solutions allow for maintaining the same data flow advantages typical of cloud platforms while balancing them with a much higher level of security. By distributing documents across multiple nodes, the risk of unauthorized access is significantly reduced. This is what Certiblok does by offering an innovative and continuously evolving product. Certiblok is an innovative solution that provides two important document management advantages: complete versioning and access to audit rooms.

The versioning functionality of Certiblok allows for keeping all document versions readily available. This is particularly useful for contract management and the Due Diligence phase. With Certiblok, it is possible to track and store every change made to a document over time, ensuring the preservation of each iteration. This facilitates the referencing of previous versions and the identification of changes made during contract negotiations. This feature contributes to improved transparency and document integrity, providing reliable auditing and a solid foundation for legal negotiations.

Additionally, Certiblok offers access to audit rooms, which allow for secure and accurate document validation. Audit rooms are virtual environments where stakeholders can collaborate, share, and verify the validity of documents. This functionality is particularly useful during the Due Diligence process as it allows involved parties controlled access to relevant documents. Audit rooms provide a secure and traceable environment where users can review documents and provide comments, simplifying and expediting the validation process. The implementation of these technologies allows consulting firms to maintain information integrity and ensure regulatory compliance.

Benefits for Businesses and Due Diligence Consultants

This transition allows consulting firms to continue conducting Due Diligence efficiently while respecting the privacy of corporate information. Companies can rely on professionals who can keep pace with the times, both digitally and in terms of regulations. The use of a single centralized environment for collecting and analyzing documents makes the Due Diligence process more efficient. The decentralization of the cloud simultaneously ensures greater security as data is distributed across different locations, reducing the risk of unauthorized access.

The significance of consulting firms in the Due Diligence process during mergers and acquisitions is crucial for the success of business operations. The evolution towards decentralized cloud-based platforms reflects the need to maintain high standards of security and privacy, thus protecting the sensitive information involved in this delicate process. The ongoing evolution demonstrates the importance for industry players to continuously innovate to ensure increasingly higher standards, benefiting clients and national security.

Gianluigi Michelotto
Co Founder Certiblok

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