London-based software company HighQ has introduced a new product designed to help legal and corporate professionals in creating due diligence reports.
In a Thursday (Sept. 19) press release, HighQ stated that its new product, HighQ Diligence, helps professionals charged with conducting due diligence analysis at companies, firms, or corporations generate more accurate reports and spend less time doing so. Cloud-based HighQ Diligence uses customizable templates to automatically generate due diligence reports in a matter of seconds, the company says on its website. It also has a program management feature that helps users monitor the due diligence process and keep track of potential problems. Additionally, HighQ Diligence records every step a company, firm or individual takes, allowing officers in charge of submitting reports to make them as detailed as desired, the company notes.
According to the press release, HighQ Diligence uses other HighQ products, particularly Dataroom, which helps user securely share documents, as well as Collaborate, which lets users interact and communicate with one another. The firm's homepage singles out law firms Allen & Overy, DLA Piper, Linklaters, and Morrison & Foerster as clients.
“One of our mid-sized legal clients writes-off well over £2 million per annum on unbillable hours lost in creating diligence reports, and we were genuinely amazed that there was no technology in place that could assist," said HighQ Chief Financial Officer Veenay Shah in the press release. "Having looked at HighQ Diligence, our clients think they can save as much as eighty percent on write-offs using it, which translates to millions of pounds per annum for some of them.”
Attorney Victor Li is a staff reporter at LTN Email: [email protected]. Twitter: @victorli_alm.com
