Due Diligence and Ongoing Monitoring

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Due diligence on software trial

  • 1.  Due diligence on software trial

    Posted 08-20-2020 09:31 AM
    Good Morning, 

    I have a case where a department in my organisation want to do a trial on a web application. Do you do due diligence (SOC review etc....)
    1. Before the trial ?
    2. After they do the trial ?
    3. in conjunction with the trial ? 

    Regards 



  • 2.  RE: Due diligence on software trial

    Posted 08-21-2020 11:29 AM
    Edited by Brittany Padgett 08-21-2020 11:28 AM

    I prefer to perform due diligence before the trial to the degree that you can.  It's been my experience that once the testing has been completed and successful, the users are not excited about waiting for the due diligence review to be completed.  You would also want to identify any issues with due diligence before your teams spend their resources on trial.  Also, be sure to carefully review the terms and conditions of the trial as sometimes the terms provide for continued services after the trial period has been completed.

     

    Melanie Yaptangco 
    AVP, Vendor Management Officer

    Silvergate Logo 

     

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  • 3.  RE: Due diligence on software trial

    Posted 08-21-2020 11:37 AM
    I would do it before hand so that you can get some understanding of their internal controls.  Nothing's worse that find out after the fact that they don't meet certain security requirements, or that they have poor financials etc.