Technology Due Diligence Services We Offer
Technology due diligence is auditing and improving processes of a tech-native company with the aim of facilitating their internal operations and enhancing their service. We offer the following tech due diligence services:
Overall tech strategy audit
Forbytes conducts software due diligence, analyzes your tech strategy, and ensures its alignment with your business goals. We do market research, review internal documentation, conduct interviews, look for new digital opportunities, and investigate the competition.
IT processes investigation
We examine your IT documentation to ensure that your work model is consistent and well-communicated to the necessary people. Our diligence team reviews the internal documentation and external reports and cooperates with the staff throughout the company due diligence process.
IT security audit
Why due diligence is important? Because it gives you security and quality assurance. Our specialists review your security-related procedures, risk management plan, and recovery algorithms. We check GDPR compliance, develop a consistent response plan, initiate security testing processes, and elaborate on an effective data security strategy.
IT infrastructure review
Software experts at Forbytes conduct tech diligence and examine the state and reliability of your servers, cloud solutions, and the support you are offered. We present conclusions on the capacity of the infrastructure to serve your business needs in the long run.
Organizational setup analysis
During technical diligence, we check the key roles in your organization and in the teams to suggest improvements and enhance your HR KPIs. Our goal is to ensure tech and social diversity in the workplace, decrease turnover, and add flexibility to your setup.
Software development lifecycle audit
When conducting technology diligence, we review software development lifecycle stages that your company implements to ensure consistency and efficiency not only on paper but also in practice. You get clearly developed algorithms at every step of the development lifecycle.
Technology Due Diligence Process
For each case, we involve a team with industry experience complemented by software development consultants and business analysts. Here is what our product due diligence involves:
We discuss your goals, challenges, and expectations and create a plan. Forbytes determines the scope, outlines the measures to be taken, allocates resources, and mobilizes the team.
We dive into the internal processes of your organization. Our due diligence team uses the guidelines developed in step 1 to review internal documentation and conduct expert interviews.
Then it’s time to refer to external stakeholders. We conduct customer interviews and investigate external documentation. Also, our business analysts conduct market research and study the competition.
Validating the results
We summarize our key findings, insights, and research results and present them to you. Our experts respond to your questions and consider all your suggestions to precisely meet your goals.
We make sure that you get practical value out of completing our technical due diligence checklist. After you validate the audit results, we integrate them into your tech-related processes and operations.
Technology Due Diligence Benefits
Get the maximum
We assist businesses in improving tech-related processes to increase revenues and optimize resource utilization. Less waste and more reliability— these are the common outcomes of the IT due diligence process.
The quality of services is a distinguishing factor under the conditions of huge competition. By checking on how well your company serves client needs, you form the ground for long-lasting relationships with your target audience.
Protect the money
Technology due diligence gives you the real picture of the weak and strong aspects of your business. It helps you make informed decisions, prevent financial waste, and invest money only in result-oriented solutions.
What are the signs that my company needs technology due diligence?
Firstly, unsatisfactory quality of your tech products. If your clients are complaining about software bugs more and more frequently, it’s a sign that you should clarify what goes wrong with your business strategy, who is responsible for the problem happening, and how it can be solved. Secondly, ineffective operation management. You cannot deliver a good tech-related service if there are tech-related gaps within your organization. And thirdly, security and data privacy concerns. Decisions are taken by humans, not technology. Making the wrong decisions leads to tech vulnerabilities. The technical due diligence process allows you to prevent the wrong decisions and eliminate potential security risks.
What are the main features of technology due diligence services?
The technology due diligence checklist may have different forms but here are some universal features to be included. The first characteristic is that technology due diligence brings unbiased results. The audit is conducted by independent third-party specialists who do not possess a personal interest in specific outcomes. As a result, you get an objective overview of your tech-related processes. The second peculiarity is informativeness. Technology due diligence enables businesses to detect tech gaps, reduce/prevent financial losses, and eliminate technology risks. And lastly, the results of technology due diligence are actionable. That is, you are provided not only with data but also with ideas on the practical implementation of this data. Tech specialists present you with the strategy, recommendations, and tools to be used to solve problems.
How to conduct technology due diligence on my own?
What is due diligence in different industries? There are no industry standards for technology due diligence, but the main aspects to be audited are people, processes, and technology. Check the documentation for these three aspects as well as the way everything works in practice. Review software licensing and intellectual property details concerning the products you develop. Also, it is important to extract insights from the analysis and introduce improvements timely.