CINXE.COM

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class="_3as1uIe-"><div class="_27Nn-1w0"><div class="_1-0WQpiP"><img data-src="/getmedia/641dc61b-0a21-4850-9b16-cfa3efc45b19/magician.png?width=780" alt="" class="lazyload _2AgUj77b" data-srcset="/getmedia/641dc61b-0a21-4850-9b16-cfa3efc45b19/magician.png?width=500 500w, /getmedia/641dc61b-0a21-4850-9b16-cfa3efc45b19/magician.png?width=300 300w, /getmedia/641dc61b-0a21-4850-9b16-cfa3efc45b19/magician.png?width=780 780w, /getmedia/641dc61b-0a21-4850-9b16-cfa3efc45b19/magician.png?width=1560 1560w" data-sizes="(max-width: 1000px) 500px, (max-width: 600px) 300px, 780px"/><noscript><img src="/getmedia/641dc61b-0a21-4850-9b16-cfa3efc45b19/magician.png?width=780" alt="" class="_2AgUj77b" srcSet="/getmedia/641dc61b-0a21-4850-9b16-cfa3efc45b19/magician.png?width=500 500w, /getmedia/641dc61b-0a21-4850-9b16-cfa3efc45b19/magician.png?width=300 300w, /getmedia/641dc61b-0a21-4850-9b16-cfa3efc45b19/magician.png?width=780 780w, /getmedia/641dc61b-0a21-4850-9b16-cfa3efc45b19/magician.png?width=1560 1560w" sizes="(max-width: 1000px) 500px, (max-width: 600px) 300px, 780px"/></noscript></div></div></div><article><div class="_27Nn-1w0 _2jRKp3m1 lrpNGd0Y"><div class="_3AtkvlaE _3KcyXQGv">Due diligence refers to the steps taken to manage risk when making decisions, usually when investing, either in part or all of a company. It’s how the buyer or investor determines that a business is ethical, compliant and profitable as claimed.  <br /> <br /> Here, we’re going to look at some examples of due diligence in business and how to make the <a href="https://www.ansarada.com/due-diligence/process">due diligence process</a> seamless.  <h4><meta charset="utf-8" /><b id="docs-internal-guid-49c95017-7fff-3ba3-b3d1-e3918c6f2a6a">Transform your due diligence with Ansarada Deals™—<a href="https://www.ansarada.com/freemium-signup/corporate">start for free today</a>!</b></h4> </div></div><section id="what-is-due-diligence"></section><div class="_27Nn-1w0 _2jRKp3m1 lrpNGd0Y"><div class="_3AtkvlaE _3KcyXQGv"> <h2>What is due diligence in business?</h2> Due diligence is the systematic examination of a business ahead of an event such as a merger or acquisition, capital raise, IPO, or audit. The purpose of this investigation is to assess commercial and legal risks, as well as opportunities arising from the transaction. <h3>Buying, selling or merging a company requires due diligence</h3> Due diligence before an <a href="https://www.ansarada.com/mergers-acquisitions">acquisition or merger</a> involves a rigorous examination and evaluation of a target company’s critical documentation and data before the deal is sealed. This includes operational, financial and legal information.<br /> <br /> The goals of M&A due diligence are to ensure a fair price is paid, potential risks in the purchase are surfaced, and the buyer has a solid grasp of the opportunity.  <h3>Raising capital and gaining investment requires due diligence</h3> Startups or businesses seeking to <a href="https://www.ansarada.com/capital-raise">raise capital</a> to grow or develop an idea also undertake due diligence before seeking investors. Start-up due diligence presents potential investors with a clear view of the current financial situation of the start-up. <br /> <br /> Investors may want to know about the reputation and strategy, intellectual property, regulatory landscape, and forecasting to show how investment funds will be used to grow the business, plus potential returns for angel or venture capital investors. The audit process will vary depending on the investor and the size of the investment. <br /> <br /> An <a href="https://www.ansarada.com/transactions/ipo">initial public offering</a> also requires due diligence to ensure the company is ready and able to function as a publicly-listed company, and is in the best shape to drive a high-value outcome. <h3>Due diligence can support informed decision-making</h3> Elements of due diligence come into any large transaction, particularly where there is risk involved. From <a href="https://www.ansarada.com/features/procure">tenders and procurement</a>, where supplier due diligence and regular audits can help to eliminate, identify or prevent <a href="https://www.ansarada.com/procure/fraud">procurement fraud</a>, to <a href="https://www.ansarada.com/asset-management/financing">asset management</a>, where visibility of the bigger picture can help identify when to divest or whether an off-market bid is worthwhile, due diligence provides the data that drives intelligent decision-making. <br /> <br /> <a href="https://www.ansarada.com/transactions/strategic-review">Data-driven strategic review</a> can help methodically assess a business and identify risks and opportunities, informing decision-makers about the current state of a business and supporting preparation for change. <h3>Business exits or insolvency requires due diligence</h3> <a href="https://www.ansarada.com/business-exits">Exiting a business</a>, whether selling to a partner, family succession, or undergoing IPO or facing an event like liquidation or <a href="https://www.ansarada.com/bankruptcy">bankruptcy</a> will require due diligence. Whatever the reason for exit, due diligence to surface the legal structure, financial details, assets and liabilities, existing customer base, key contracts and staffing arrangements, accreditations and awards and compliance factors prepares a company for the next phase.<br /> </div></div><div class="_27Nn-1w0 _2jRKp3m1"><div class=""><img data-src="/getmedia/ac20cc1b-fa6f-4a14-97f7-da32bc272d48/2022_Deals_PAI_1.jpg?width=780" alt="Types of due diligence" class="lazyload _2AgUj77b" data-srcset="/getmedia/ac20cc1b-fa6f-4a14-97f7-da32bc272d48/2022_Deals_PAI_1.jpg?width=500 500w, /getmedia/ac20cc1b-fa6f-4a14-97f7-da32bc272d48/2022_Deals_PAI_1.jpg?width=300 300w, /getmedia/ac20cc1b-fa6f-4a14-97f7-da32bc272d48/2022_Deals_PAI_1.jpg?width=780 780w, /getmedia/ac20cc1b-fa6f-4a14-97f7-da32bc272d48/2022_Deals_PAI_1.jpg?width=1560 1560w" data-sizes="(max-width: 1000px) 500px, (max-width: 600px) 300px, 780px"/><noscript><img src="/getmedia/ac20cc1b-fa6f-4a14-97f7-da32bc272d48/2022_Deals_PAI_1.jpg?width=780" alt="Types of due diligence" class="_2AgUj77b" srcSet="/getmedia/ac20cc1b-fa6f-4a14-97f7-da32bc272d48/2022_Deals_PAI_1.jpg?width=500 500w, /getmedia/ac20cc1b-fa6f-4a14-97f7-da32bc272d48/2022_Deals_PAI_1.jpg?width=300 300w, /getmedia/ac20cc1b-fa6f-4a14-97f7-da32bc272d48/2022_Deals_PAI_1.jpg?width=780 780w, /getmedia/ac20cc1b-fa6f-4a14-97f7-da32bc272d48/2022_Deals_PAI_1.jpg?width=1560 1560w" sizes="(max-width: 1000px) 500px, (max-width: 600px) 300px, 780px"/></noscript></div></div><div class="_27Nn-1w0 _2jRKp3m1 lrpNGd0Y"><div class="_3AtkvlaE _3KcyXQGv"><br /> </div></div><section id="types-of-due-diligence"></section><div class="_27Nn-1w0 _2jRKp3m1 lrpNGd0Y"><div class="_3AtkvlaE _3KcyXQGv"> <h2>Types of due diligence </h2> Due diligence covers aspects of a business from finances and tax to legal, regulatory and operational factors. During due diligence on large transactions, a variety of professionals will be engaged, from financial analysts and advisors to business experts and owners. <br /> <br /> In each of these areas, due diligence aims to audit a business and identify risks and opportunities, ensuring a fairer transaction for both the buy-side and the sell-side. <br /> <br /> The types of due diligence listed below is not an exhaustive list, but it’s a great starting point when preparing to undergo a major transaction or audit. (Scroll down to find a due diligence checklist you can work from too). <h3>Financial Due Diligence</h3> Financial due diligence of a business focuses on assessing the historical financial performance of the company. This might be done by an internal accounting team or external auditors. <br /> <br /> The aim is to build a clear picture of the current value of the business and future prospects. Auditors and accountants will ensure financial statements are complete, accurate and assess whether financial performance is sustainable.  <h3>Legal Due Diligence</h3> Legal due diligence includes examining compliance with laws and regulations that apply to the business as well as intellectual property, contracts and any pending litigation. <br /> <br /> The goal is to reveal any hidden actual or potential legal issues.  <h3>Tax Due Diligence </h3> This step assesses the company’s tax obligations, compliance with tax law and identifies any potential tax risks. Buyers or investors will want to be aware of any impending tax liabilities and the impact this could have on cash flow. <h3>Operational Due Diligence</h3> Operational due diligence considers the strategic plan, policies and processes and work instructions. The aim is to assess efficiency and identify potential for improvements. Operational due diligence can support <a href="https://www.ansarada.com/integrations/post-merger-integration">post-acquisition integration</a> and enables new owners to plan for a smooth integration process. <h3>Intellectual Property Due Diligence </h3> IP due diligence considers the risks and benefits of a target company’s intellectual property portfolio, before a buy-contract is signed or investment proceeds.  <h3>Commercial Due Diligence</h3> The commercial due diligence processes audit the target company’s historical activity and forecasts performance, long-term viability and potential.   <h3>Information Technology Due Diligence </h3> Technology is central to modern business. IT due diligence assesses infrastructure, systems, data security and identifies potential vulnerabilities. <h3>HR Due Diligence </h3> An assessment of the human capital of a target company, including key skillsets and key person risk. <h3>Regulatory Due Diligence  </h3> Regulatory due diligence explores the compliance of the company with relevant regulations, as well as supplier, employee, project and partner compliance. It’s a comprehensive review that considers any potential breaches, whether there has been a warning or penalty or not. <br /> <br /> To find out more about all the different types of due diligence, see here: <a href="https://www.ansarada.com/due-diligence/types">Types of Due Diligence</a><br /> <br /> </div></div><div class="_27Nn-1w0 _2n7tnUu7 _2jRKp3m1"><div class="_3Jedet0f"><h2 class="_2uMJG3w_">Business due diligence checklist</h2><div class="_3AtkvlaE _3Z5eQS_4">Make due diligence a breeze with proper preparation with the ultimate due diligence checklist</div><a href="https://www.ansarada.com/due-diligence-checklist" class="odK3cdhn _3KsBTf5T JQu1tGA0">Download the checklist</a></div></div><div class="_27Nn-1w0 _2jRKp3m1 lrpNGd0Y"><div class="_3AtkvlaE _3KcyXQGv"><br /> </div></div><section id="hard-vs-soft-due-diligence"></section><div class="_27Nn-1w0 _2jRKp3m1 lrpNGd0Y"><div class="_3AtkvlaE _3KcyXQGv"> <h2>The differences between ‘hard’ and ‘soft ’due diligence</h2> Hard due diligence is all about calculations and numbers, focused on data that is easy to quantify and measure. Soft due diligence requires a different set of skills and tools to assess aspects of a business like culture, management and critical internal and external relationships. <br /> <br /> Both soft due diligence and hard due diligence will consider the company’s annual reports, but the approach beyond this is quite different. <br /> <br /> The types of due diligence considered above contain elements of both soft and hard due diligence. Let’s take a closer look.  <h3>Undertaking hard due diligence</h3> Hard due diligence addresses concrete data and facts. It focuses on the financial aspects of the business, such as financial statements, expenditures and projects. This is the primary type of due diligence that is used to assess whether profit can be generated from the deal.<br /> </div></div><div class="_27Nn-1w0 _2jRKp3m1"><div class=""><img data-src="/getmedia/6c558cc2-cd6d-4113-b37c-83978f9748dd/2022_Due_Diligence_Types_Stock_Image_Man_Woman_Tablet.jpg?width=780" alt="What is soft due diligence?" class="lazyload _2AgUj77b" data-srcset="/getmedia/6c558cc2-cd6d-4113-b37c-83978f9748dd/2022_Due_Diligence_Types_Stock_Image_Man_Woman_Tablet.jpg?width=500 500w, /getmedia/6c558cc2-cd6d-4113-b37c-83978f9748dd/2022_Due_Diligence_Types_Stock_Image_Man_Woman_Tablet.jpg?width=300 300w, /getmedia/6c558cc2-cd6d-4113-b37c-83978f9748dd/2022_Due_Diligence_Types_Stock_Image_Man_Woman_Tablet.jpg?width=780 780w, /getmedia/6c558cc2-cd6d-4113-b37c-83978f9748dd/2022_Due_Diligence_Types_Stock_Image_Man_Woman_Tablet.jpg?width=1560 1560w" data-sizes="(max-width: 1000px) 500px, (max-width: 600px) 300px, 780px"/><noscript><img src="/getmedia/6c558cc2-cd6d-4113-b37c-83978f9748dd/2022_Due_Diligence_Types_Stock_Image_Man_Woman_Tablet.jpg?width=780" alt="What is soft due diligence?" class="_2AgUj77b" srcSet="/getmedia/6c558cc2-cd6d-4113-b37c-83978f9748dd/2022_Due_Diligence_Types_Stock_Image_Man_Woman_Tablet.jpg?width=500 500w, /getmedia/6c558cc2-cd6d-4113-b37c-83978f9748dd/2022_Due_Diligence_Types_Stock_Image_Man_Woman_Tablet.jpg?width=300 300w, /getmedia/6c558cc2-cd6d-4113-b37c-83978f9748dd/2022_Due_Diligence_Types_Stock_Image_Man_Woman_Tablet.jpg?width=780 780w, /getmedia/6c558cc2-cd6d-4113-b37c-83978f9748dd/2022_Due_Diligence_Types_Stock_Image_Man_Woman_Tablet.jpg?width=1560 1560w" sizes="(max-width: 1000px) 500px, (max-width: 600px) 300px, 780px"/></noscript></div></div><div class="_27Nn-1w0 _2jRKp3m1 lrpNGd0Y"><div class="_3AtkvlaE _3KcyXQGv"> <h3>What is soft due diligence?</h3> Soft DD is equally important, but not as immediately obvious or easy to quantify.. Soft due diligence is all about relationships — between the employees and management as well as between the company and suppliers, partners and other stakeholders. It also includes the customer base and how loyal the customers are. <br /> <br /> One key element of soft due diligence considers the human capital in a business, including talent, skills, culture and leadership. The process aims to establish whether key staff members, suppliers or customer groups are likely to stay or leave in the event of the deal going through. <br /> <br /> When M&A deals fail - which according to Harvard Business Review (<a href="https://hbr.org/2020/03/dont-make-this-common-ma-mistake">2020</a>) 70-90% of the time - it is usually because this <a href="https://hbr.org/2007/04/human-due-diligence">human element is ignored</a>). <h3>The due diligence process</h3> In its basic form, the due diligence process consists of the purchaser asking questions of the target business, and the business answering those questions with proof that shows they have answered. The bidder is legally obligated to disclose accurate information. There is then a rigorous <a href="https://www.ansarada.com/features/due-diligence-question-answer">due diligence Q&A</a> process to clarify anything that might need further explanation before the purchase.<br /> <br /> DD is usually conducted after you and the acquiring firm have agreed in principle to a deal, or at least that one may be beneficial, but before any binding contract is signed. <br /> <br /> Find out more: <a href="https://www.ansarada.com/due-diligence/process">How do you perform due diligence</a><br /> </div></div><div class="_27Nn-1w0 _2jRKp3m1"><div class=""><img data-src="/getmedia/18a3dd67-d30a-437b-a1ce-b56ea83e1af3/AdobeStock_196899754.jpeg?width=780" alt="What the buyer should consider" class="lazyload _2AgUj77b" data-srcset="/getmedia/18a3dd67-d30a-437b-a1ce-b56ea83e1af3/AdobeStock_196899754.jpeg?width=500 500w, /getmedia/18a3dd67-d30a-437b-a1ce-b56ea83e1af3/AdobeStock_196899754.jpeg?width=300 300w, /getmedia/18a3dd67-d30a-437b-a1ce-b56ea83e1af3/AdobeStock_196899754.jpeg?width=780 780w, /getmedia/18a3dd67-d30a-437b-a1ce-b56ea83e1af3/AdobeStock_196899754.jpeg?width=1560 1560w" data-sizes="(max-width: 1000px) 500px, (max-width: 600px) 300px, 780px"/><noscript><img src="/getmedia/18a3dd67-d30a-437b-a1ce-b56ea83e1af3/AdobeStock_196899754.jpeg?width=780" alt="What the buyer should consider" class="_2AgUj77b" srcSet="/getmedia/18a3dd67-d30a-437b-a1ce-b56ea83e1af3/AdobeStock_196899754.jpeg?width=500 500w, /getmedia/18a3dd67-d30a-437b-a1ce-b56ea83e1af3/AdobeStock_196899754.jpeg?width=300 300w, /getmedia/18a3dd67-d30a-437b-a1ce-b56ea83e1af3/AdobeStock_196899754.jpeg?width=780 780w, /getmedia/18a3dd67-d30a-437b-a1ce-b56ea83e1af3/AdobeStock_196899754.jpeg?width=1560 1560w" sizes="(max-width: 1000px) 500px, (max-width: 600px) 300px, 780px"/></noscript></div></div><div class="_27Nn-1w0 _2jRKp3m1 lrpNGd0Y"><div class="_3AtkvlaE _3KcyXQGv"><br /> </div></div><section id="buyer-side-considerations"></section><div class="_27Nn-1w0 _2jRKp3m1 lrpNGd0Y"><div class="_3AtkvlaE _3KcyXQGv"> <h2>What the buyer should consider</h2> The purchaser should consider every area of the target’s business and seek to uncover as much detail as possible about its current state of health before making their investment decision. During this process, they should spend time talking to management and key staff, understanding what documents will help confirm the viability of the transaction and verifying the integrity of all the information provided.<br /> <br /> Purchasers should also consider their integration strategy, and how the new business entity will operate as a unified whole to maximize synergies. <h3>Potential red flags</h3> Potential warning signs for the buyer include any unverified, inaccurate or missing material information that could prove to be problematic later on. This could mean the prospective bidder is hesitant to share something that could be perceived as a red flag, or that they are disorganized and don’t actually know these details about their own business.<br /> <br /> Other warning signs to watch for can include:  <ul> <li>declining customer numbers and/or turnover; </li> <li>indications that the industry itself is moving into a difficult period.</li> </ul> </div></div><section id="risks-of-improper-due-diligence"></section><div class="_27Nn-1w0 _2jRKp3m1 lrpNGd0Y"><div class="_3AtkvlaE _3KcyXQGv"> <h2>Target company risks of improper due diligence</h2> To perform due diligence, target companies and their advisors need to carefully scrutinize every aspect of a prospective bidder. The buyer or investor needs to be a good fit for the company, with terms and pricing that is acceptable. <br /> <br /> If there are gaps in the documentation the target compiles and shares gather, the company risks omitting critical information that could result in failure to reach a high valuation and sale price. Even worse - it could impact the reputation and future of their business.<br /> <br /> Poor organization can result in the discovery of risks late in the process if a company has exercised due diligence improperly. This creates stress for both parties, costs time to resolve, and increases the chances that the deal will fall through.<br /> </div></div><div class="_27Nn-1w0 _2jRKp3m1"><div class=""><img data-src="/getmedia/ccf37b91-53a7-4207-a8ca-87f113e0f01c/AdobeStock_252807315.jpeg?width=780" alt="Due diligence examples" class="lazyload _2AgUj77b" data-srcset="/getmedia/ccf37b91-53a7-4207-a8ca-87f113e0f01c/AdobeStock_252807315.jpeg?width=500 500w, /getmedia/ccf37b91-53a7-4207-a8ca-87f113e0f01c/AdobeStock_252807315.jpeg?width=300 300w, /getmedia/ccf37b91-53a7-4207-a8ca-87f113e0f01c/AdobeStock_252807315.jpeg?width=780 780w, /getmedia/ccf37b91-53a7-4207-a8ca-87f113e0f01c/AdobeStock_252807315.jpeg?width=1560 1560w" data-sizes="(max-width: 1000px) 500px, (max-width: 600px) 300px, 780px"/><noscript><img src="/getmedia/ccf37b91-53a7-4207-a8ca-87f113e0f01c/AdobeStock_252807315.jpeg?width=780" alt="Due diligence examples" class="_2AgUj77b" srcSet="/getmedia/ccf37b91-53a7-4207-a8ca-87f113e0f01c/AdobeStock_252807315.jpeg?width=500 500w, /getmedia/ccf37b91-53a7-4207-a8ca-87f113e0f01c/AdobeStock_252807315.jpeg?width=300 300w, /getmedia/ccf37b91-53a7-4207-a8ca-87f113e0f01c/AdobeStock_252807315.jpeg?width=780 780w, /getmedia/ccf37b91-53a7-4207-a8ca-87f113e0f01c/AdobeStock_252807315.jpeg?width=1560 1560w" sizes="(max-width: 1000px) 500px, (max-width: 600px) 300px, 780px"/></noscript></div></div><div class="_27Nn-1w0 _2jRKp3m1 lrpNGd0Y"><div class="_3AtkvlaE _3KcyXQGv"><br /> </div></div><section id="due-diligence-examples"></section><div class="_27Nn-1w0 _2jRKp3m1 lrpNGd0Y"><div class="_3AtkvlaE _3KcyXQGv"> <h2>Due diligence examples</h2> As we’ve observed, due diligence can be concise and focused, as for selling a small business or a small part of a business, or vast in scope, where an anticipated large transaction leads to thorough scrutiny of the business. <br /> <br /> Due diligence can take a toll on a business and its people, so streamlining processes is critical. Here are a few examples of where due diligence might impact a business:  <ul> <li><strong>Acquiring a smaller company:</strong> the acquiring company will review the employment agreements, company culture, policy and process, any labor disputes and intellectual property as well as compliance, financial health and assets. </li> <li><strong>Procuring technology:</strong> a non-profit procuring IT services would assess the cybersecurity of infrastructure to identify any risks or compliance issues. </li> </ul> </div></div><section id="due-diligence-checklist"></section><div class="_27Nn-1w0 _2jRKp3m1 lrpNGd0Y"><div class="_3AtkvlaE _3KcyXQGv"> <h2>Due Diligence Checklist</h2> Buying a business is a costly endeavour, so it’s important you are confident you have all the information you need to make a well-informed decision.<br /> <br /> Our <a href="https://www.ansarada.com/due-diligence-checklist">Due Diligence Checklist</a> lays out the framework for everything the seller needs to provide and the buyer needs to consider in order to progress the deal. It is a file structure that has been built from 50 million data points across 23,000+ deals to help you organize your business data and ensure nothing gets missed.<br /> <br /> Ansarada Deals™ is a centralized Deals space bringing together a purpose-built set of solutions into one fully integrated platform. Digitize all your due diligence checklists with Deal Workflow™, a project management tool that gives you complete oversight and control. Use it to start preparing for your deal for free until the deal goes live. <br /> <br /> </div></div><div class="_27Nn-1w0 _2n7tnUu7 _2jRKp3m1"><div class="_3Jedet0f"><h2 class="_2uMJG3w_">Automate your due diligence</h2><div class="_3AtkvlaE _3Z5eQS_4">Start preparing today for free, with no cost until the deal goes live.</div><a href="https://www.ansarada.com/freemium-signup/corporate" class="odK3cdhn _3KsBTf5T JQu1tGA0">Get started for free</a></div></div><div class="_27Nn-1w0 _2jRKp3m1 lrpNGd0Y"><div class="_3AtkvlaE _3KcyXQGv"> <h2>Business due diligence questions</h2> <h3>What are the four Ps of due diligence?</h3> <ul> <li>People: assess how the experience and expertise of leadership</li> <li>Philosophy: focus on whether an investment is likely to drive success and ROI</li> <li>Process: assess how key business processes are implemented and managed</li> <li>Performance: analyse how strategies perform, long term</li> </ul> <h3>How long does business due diligence take?</h3> Timeframes for due diligence depend on the complexity of the transaction and size of the company involved. Generally, advisors allow 30 to 90 days but this may be extended to navigate complex regulatory requirements or evaluate intricate financial structures. Efficient planning and workflow processes, plus clear communication between parties, can expedite the process.  <h3>How can a business prepare for due diligence?</h3> Organise and collate all relevant documents, including financial statements, contracts, legal records and applicable regulations to give buyers or investors transparent, comprehensive information. An internal audit can help identify potential risks and prepare the business for scrutiny, address compliance issues and streamline the process. Seek legal and financial advice to identify questions that may arise during due diligence. <br />  </div></div></article><div class="footer-before" id="footer-before"></div><footer class="_1WXM4L1X"><div class="_3lQkbfaG"><div class="_3I6hftPP"><div class="_1KkQ3RYl"><h2 class="_2oKXlvjN"><button class="_36Zq60vd">Community</button><span class="_2okBbI6W">Community</span></h2><ul class="h068EY5L"><li class="zMPo-zK5"><a href="/blog">Blog</a></li><li class="zMPo-zK5"><a href="/events">Events</a></li><li class="zMPo-zK5"><a href="/customers">Success Stories</a></li></ul></div><div class="_1KkQ3RYl"><h2 class="_2oKXlvjN"><button class="_36Zq60vd">Company</button><span class="_2okBbI6W">Company</span></h2><ul class="h068EY5L"><li class="zMPo-zK5"><a href="/about">About</a></li><li class="zMPo-zK5"><a href="/virtual-data-rooms">Virtual Data Rooms</a></li><li class="zMPo-zK5"><a href="/help-centre">Help Centre</a></li><li class="zMPo-zK5"><a href="/resources">Resources</a></li><li class="zMPo-zK5"><a href="/Careers">Careers</a></li><li class="zMPo-zK5"><a href="/faqs">FAQs</a></li><li class="zMPo-zK5"><a href="/contact">Contact us</a></li><li class="zMPo-zK5"><a href="/pricing">Pricing</a></li></ul></div><div class="_1KkQ3RYl _2sNXjX8_"><h2 class="_2oKXlvjN">Subscribe to our newsletter</h2><div class="_2dI51RXd"><iframe class="lazyload _3ZJMNLj1" title="Form"></iframe><noscript><iframe class="_3ZJMNLj1" title="Form"></iframe></noscript></div></div></div><div class="FTjI5TJ_"><div class="_1ZzYQ76_"><img src="/content/mace/static/b1fa143cff563149ee0df097eb0b12ac.svg" class="_22Cbge9z" width="18" height="18" alt=""/><a class="_3J9oGNiH" href="/legal-policies">Legal</a><a class="_3J9oGNiH" href="/privacy">Privacy policy</a></div><div class="ccNDxBXq"><p>© 2005–2025 Ansarada Pty Ltd. 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Room","categories":[],"link":"/features/data-rooms"}]}},{"type":"Templates","name":"ContentHub","props":{"title":"Due Diligence Hub","subtitle":"Everything you need to know about business due diligence, in one place","image":"/getmedia/641dc61b-0a21-4850-9b16-cfa3efc45b19/magician.png","featuredArticles":[]},"children":[{"type":"Components","name":"RichText","props":{"children":"Due diligence refers to the steps taken to manage risk when making decisions, usually when investing, either in part or all of a company. It\u0026rsquo;s how the buyer or investor determines that a business is ethical, compliant and profitable as claimed. \u0026nbsp;\u003cbr /\u003e\r\n\u003cbr /\u003e\r\nHere, we\u0026rsquo;re going to look at some examples of due diligence in business and how to make the \u003ca href=\u0022https://www.ansarada.com/due-diligence/process\u0022\u003edue diligence process\u003c/a\u003e seamless.\u0026nbsp;\r\n\r\n\u003ch4\u003e\u003cmeta charset=\u0022utf-8\u0022 /\u003e\u003cb id=\u0022docs-internal-guid-49c95017-7fff-3ba3-b3d1-e3918c6f2a6a\u0022\u003eTransform your due diligence with Ansarada Deals\u0026trade;\u0026mdash;\u003ca href=\u0022https://www.ansarada.com/freemium-signup/corporate\u0022\u003estart for free today\u003c/a\u003e!\u003c/b\u003e\u003c/h4\u003e\r\n","layout":"Thin"}},{"type":"Components","name":"Section","props":{"text":"What is due diligence? "}},{"type":"Components","name":"RichText","props":{"children":"\r\n\r\n\u003ch2\u003eWhat is due diligence in business?\u003c/h2\u003e\r\nDue diligence is the systematic examination of a business ahead of an event such as a merger or acquisition, capital raise, IPO, or audit. The purpose of this investigation is to assess commercial and legal risks, as well as opportunities arising from the transaction.\r\n\r\n\u003ch3\u003eBuying, selling or merging a company requires due diligence\u003c/h3\u003e\r\nDue diligence before an \u003ca href=\u0022https://www.ansarada.com/mergers-acquisitions\u0022\u003eacquisition or merger\u003c/a\u003e involves a rigorous examination and evaluation of a target company\u0026rsquo;s critical documentation and data before the deal is sealed. This includes operational, financial and legal information.\u003cbr /\u003e\r\n\u003cbr /\u003e\r\nThe goals of M\u0026amp;A due diligence are to ensure a fair price is paid, potential risks in the purchase are surfaced, and the buyer has a solid grasp of the opportunity.\u0026nbsp;\r\n\u003ch3\u003eRaising capital and gaining investment requires due diligence\u003c/h3\u003e\r\nStartups or businesses seeking to \u003ca href=\u0022https://www.ansarada.com/capital-raise\u0022\u003eraise capital\u003c/a\u003e to grow or develop an idea also undertake due diligence before seeking investors. Start-up due diligence presents potential investors with a clear view of the current financial situation of the start-up.\u0026nbsp;\u003cbr /\u003e\r\n\u003cbr /\u003e\r\nInvestors may want to know about the reputation and strategy, intellectual property, regulatory landscape, and forecasting to show how investment funds will be used to grow the business, plus potential returns for angel or venture capital investors. The audit process will vary depending on the investor and the size of the investment.\u0026nbsp;\u003cbr /\u003e\r\n\u003cbr /\u003e\r\nAn \u003ca href=\u0022https://www.ansarada.com/transactions/ipo\u0022\u003einitial public offering\u003c/a\u003e also requires due diligence to ensure the company is ready and able to function as a publicly-listed company, and is in the best shape to drive a high-value outcome.\r\n\r\n\u003ch3\u003eDue diligence can support informed decision-making\u003c/h3\u003e\r\nElements of due diligence come into any large transaction, particularly where there is risk involved. From \u003ca href=\u0022https://www.ansarada.com/features/procure\u0022\u003etenders and procurement\u003c/a\u003e, where supplier due diligence and regular audits can help to eliminate, identify or prevent \u003ca href=\u0022https://www.ansarada.com/procure/fraud\u0022\u003eprocurement fraud\u003c/a\u003e, to \u003ca href=\u0022https://www.ansarada.com/asset-management/financing\u0022\u003easset management\u003c/a\u003e, where visibility of the bigger picture can help identify when to divest or whether an off-market bid is worthwhile, due diligence provides the data that drives intelligent decision-making.\u0026nbsp;\u003cbr /\u003e\r\n\u003cbr /\u003e\r\n\u003ca href=\u0022https://www.ansarada.com/transactions/strategic-review\u0022\u003eData-driven strategic review\u003c/a\u003e can help methodically assess a business and identify risks and opportunities, informing decision-makers about the current state of a business and supporting preparation for change.\r\n\r\n\u003ch3\u003eBusiness exits or insolvency requires due diligence\u003c/h3\u003e\r\n\u003ca href=\u0022https://www.ansarada.com/business-exits\u0022\u003eExiting a business\u003c/a\u003e, whether selling to a partner, family succession, or undergoing IPO or facing an event like liquidation or \u003ca href=\u0022https://www.ansarada.com/bankruptcy\u0022\u003ebankruptcy\u003c/a\u003e will require due diligence. Whatever the reason for exit, due diligence to surface the legal structure, financial details, assets and liabilities, existing customer base, key contracts and staffing arrangements, accreditations and awards and compliance factors prepares a company for the next phase.\u003cbr /\u003e\r\n","layout":"Thin"}},{"type":"Components","name":"Image","props":{"image":"/getmedia/ac20cc1b-fa6f-4a14-97f7-da32bc272d48/2022_Deals_PAI_1.jpg","alt":"Types of due diligence","layout":"Thin"}},{"type":"Components","name":"RichText","props":{"children":"\u003cbr /\u003e\r\n","layout":"Thin"}},{"type":"Components","name":"Section","props":{"text":"Types of due diligence"}},{"type":"Components","name":"RichText","props":{"children":"\r\n\r\n\u003ch2\u003eTypes of due diligence\u0026nbsp;\u003c/h2\u003e\r\nDue diligence covers aspects of a business from finances and tax to legal, regulatory and operational factors. During due diligence on large transactions, a variety of professionals will be engaged, from financial analysts and advisors to business experts and owners.\u0026nbsp;\u003cbr /\u003e\r\n\u003cbr /\u003e\r\nIn each of these areas, due diligence aims to audit a business and identify risks and opportunities, ensuring a fairer transaction for both the buy-side and the sell-side.\u0026nbsp;\u003cbr /\u003e\r\n\u003cbr /\u003e\r\nThe types of due diligence listed below is not an exhaustive list, but it\u0026rsquo;s a great starting point when preparing to undergo a major transaction or audit. (Scroll down to find a due diligence checklist you can work from too).\r\n\u003ch3\u003eFinancial Due Diligence\u003c/h3\u003e\r\nFinancial due diligence of a business focuses on assessing the historical financial performance of the company. This might be done by an internal accounting team or external auditors.\u0026nbsp;\u003cbr /\u003e\r\n\u003cbr /\u003e\r\nThe aim is to build a clear picture of the current value of the business and future prospects. Auditors and accountants will ensure financial statements are complete, accurate and assess whether financial performance is sustainable.\u0026nbsp;\r\n\u003ch3\u003eLegal Due Diligence\u003c/h3\u003e\r\nLegal due diligence includes examining compliance with laws and regulations that apply to the business as well as intellectual property, contracts and any pending litigation.\u0026nbsp;\u003cbr /\u003e\r\n\u003cbr /\u003e\r\nThe goal is to reveal any hidden actual or potential legal issues.\u0026nbsp;\r\n\u003ch3\u003eTax Due Diligence\u2028\u003c/h3\u003e\r\nThis step assesses the company\u0026rsquo;s tax obligations, compliance with tax law and identifies any potential tax risks. Buyers or investors will want to be aware of any impending tax liabilities and the impact this could have on cash flow.\r\n\r\n\u003ch3\u003eOperational Due Diligence\u003c/h3\u003e\r\nOperational due diligence considers the strategic plan, policies and processes and work instructions. The aim is to assess efficiency and identify potential for improvements. Operational due diligence can support \u003ca href=\u0022https://www.ansarada.com/integrations/post-merger-integration\u0022\u003epost-acquisition integration\u003c/a\u003e and enables new owners to plan for a smooth integration process.\r\n\r\n\u003ch3\u003eIntellectual Property Due Diligence\u2028\u003c/h3\u003e\r\nIP due diligence considers the risks and benefits of a target company\u0026rsquo;s intellectual property portfolio, before a buy-contract is signed or investment proceeds.\u0026nbsp;\r\n\r\n\u003ch3\u003eCommercial Due Diligence\u003c/h3\u003e\r\nThe commercial due diligence processes audit the target company\u0026rsquo;s historical activity and forecasts performance, long-term viability and potential. \u2028\r\n\r\n\u003ch3\u003eInformation Technology Due Diligence\u2028\u003c/h3\u003e\r\nTechnology is central to modern business. IT due diligence assesses infrastructure, systems, data security and identifies potential vulnerabilities.\r\n\r\n\u003ch3\u003eHR Due Diligence\u2028\u003c/h3\u003e\r\nAn assessment of the human capital of a target company, including key skillsets and key person risk.\r\n\r\n\u003ch3\u003eRegulatory Due Diligence\u2028\u0026nbsp;\u003c/h3\u003e\r\nRegulatory due diligence explores the compliance of the company with relevant regulations, as well as supplier, employee, project and partner compliance. It\u0026rsquo;s a comprehensive review that considers any potential breaches, whether there has been a warning or penalty or not.\u0026nbsp;\u003cbr /\u003e\r\n\u003cbr /\u003e\r\nTo find out more about all the different types of due diligence, see here: \u003ca href=\u0022https://www.ansarada.com/due-diligence/types\u0022\u003eTypes of Due Diligence\u003c/a\u003e\u003cbr /\u003e\r\n\u003cbr /\u003e\r\n","layout":"Thin"}},{"type":"Components","name":"CtaText","props":{"title":"Business due diligence checklist","children":"Make due diligence a breeze with proper preparation with the ultimate due diligence checklist","background":"Low","firstCtaBtn":{"text":"Download the checklist","variant":"Outlined","ctaHref":"https://www.ansarada.com/due-diligence-checklist"}}},{"type":"Components","name":"RichText","props":{"children":"\u003cbr /\u003e\r\n","layout":"Thin"}},{"type":"Components","name":"Section","props":{"text":"Hard vs. soft due diligence"}},{"type":"Components","name":"RichText","props":{"children":"\r\n\r\n\u003ch2\u003eThe differences between \u0026lsquo;hard\u0026rsquo; and \u0026lsquo;soft \u0026rsquo;due diligence\u003c/h2\u003e\r\nHard due diligence is all about calculations and numbers, focused on data that is easy to quantify and measure. Soft due diligence requires a different set of skills and tools to assess aspects of a business like culture, management and critical internal and external relationships.\u0026nbsp;\u003cbr /\u003e\r\n\u003cbr /\u003e\r\nBoth soft due diligence and hard due diligence will consider the company\u0026rsquo;s annual reports, but the approach beyond this is quite different.\u0026nbsp;\u003cbr /\u003e\r\n\u003cbr /\u003e\r\nThe types of due diligence considered above contain elements of both soft and hard due diligence. Let\u0026rsquo;s take a closer look.\u0026nbsp;\r\n\u003ch3\u003eUndertaking hard due diligence\u003c/h3\u003e\r\nHard due diligence addresses concrete data and facts. It focuses on the financial aspects of the business, such as financial statements, expenditures and projects. This is the primary type of due diligence that is used to assess whether profit can be generated from the deal.\u003cbr /\u003e\r\n","layout":"Thin"}},{"type":"Components","name":"Image","props":{"image":"/getmedia/6c558cc2-cd6d-4113-b37c-83978f9748dd/2022_Due_Diligence_Types_Stock_Image_Man_Woman_Tablet.jpg","alt":"What is soft due diligence?","layout":"Thin"}},{"type":"Components","name":"RichText","props":{"children":"\r\n\r\n\u003ch3\u003eWhat is soft due diligence?\u003c/h3\u003e\r\nSoft DD is equally important, but not as immediately obvious or easy to quantify.. Soft due diligence is all about relationships \u0026mdash; between the employees and management as well as between the company and suppliers, partners and other stakeholders. It also includes the customer base and how loyal the customers are.\u0026nbsp;\u003cbr /\u003e\r\n\u003cbr /\u003e\r\nOne key element of soft due diligence considers the human capital in a business, including talent, skills, culture and leadership. The process aims to establish whether key staff members, suppliers or customer groups are likely to stay or leave in the event of the deal going through.\u0026nbsp;\u003cbr /\u003e\r\n\u003cbr /\u003e\r\nWhen M\u0026amp;A deals fail - which according to Harvard Business Review (\u003ca href=\u0022https://hbr.org/2020/03/dont-make-this-common-ma-mistake\u0022\u003e2020\u003c/a\u003e) 70-90% of the time - it is usually because this \u003ca href=\u0022https://hbr.org/2007/04/human-due-diligence\u0022\u003ehuman element is ignored\u003c/a\u003e).\r\n\r\n\u003ch3\u003eThe due diligence process\u003c/h3\u003e\r\nIn its basic form, the due diligence process consists of the purchaser asking questions of the target business, and the business answering those questions with proof that shows they have answered. The bidder is legally obligated to disclose accurate information. There is then a rigorous \u003ca href=\u0022https://www.ansarada.com/features/due-diligence-question-answer\u0022\u003edue diligence Q\u0026amp;A\u003c/a\u003e process to clarify anything that might need further explanation before the purchase.\u003cbr /\u003e\r\n\u003cbr /\u003e\r\nDD is usually conducted after you and the acquiring firm have agreed in principle to a deal, or at least that one may be beneficial, but before any binding contract is signed.\u0026nbsp;\u003cbr /\u003e\r\n\u003cbr /\u003e\r\nFind out more: \u003ca href=\u0022https://www.ansarada.com/due-diligence/process\u0022\u003eHow do you perform due diligence\u003c/a\u003e\u003cbr /\u003e\r\n","layout":"Thin"}},{"type":"Components","name":"Image","props":{"image":"/getmedia/18a3dd67-d30a-437b-a1ce-b56ea83e1af3/AdobeStock_196899754.jpeg","alt":"What the buyer should consider","layout":"Thin"}},{"type":"Components","name":"RichText","props":{"children":"\u003cbr /\u003e\r\n","layout":"Thin"}},{"type":"Components","name":"Section","props":{"text":"Buyer-side considerations"}},{"type":"Components","name":"RichText","props":{"children":"\r\n\r\n\u003ch2\u003eWhat the buyer should consider\u003c/h2\u003e\r\nThe purchaser should consider every area of the target\u0026rsquo;s business and seek to uncover as much detail as possible about its current state of health before making their investment decision. During this process, they should spend time talking to management and key staff, understanding what documents will help confirm the viability of the transaction and verifying the integrity of all the information provided.\u003cbr /\u003e\r\n\u003cbr /\u003e\r\nPurchasers should also consider their integration strategy, and how the new business entity will operate as a unified whole to maximize synergies.\r\n\u003ch3\u003ePotential red flags\u003c/h3\u003e\r\nPotential warning signs for the buyer include any unverified, inaccurate or missing material information that could prove to be problematic later on. This could mean the prospective bidder is hesitant to share something that could be perceived as a red flag, or that they are disorganized and don\u0026rsquo;t actually know these details about their own business.\u003cbr /\u003e\r\n\u003cbr /\u003e\r\nOther warning signs to watch for can include:\u0026nbsp;\r\n\u003cul\u003e\r\n\t\u003cli\u003edeclining customer numbers and/or turnover;\u2028\u003c/li\u003e\r\n\t\u003cli\u003eindications that the industry itself is moving into a difficult period.\u003c/li\u003e\r\n\u003c/ul\u003e\r\n","layout":"Thin"}},{"type":"Components","name":"Section","props":{"text":"Risks of improper due diligence"}},{"type":"Components","name":"RichText","props":{"children":"\r\n\r\n\u003ch2\u003eTarget company risks of improper due diligence\u003c/h2\u003e\r\nTo perform due diligence, target companies and their advisors need to carefully scrutinize every aspect of a prospective bidder. The buyer or investor needs to be a good fit for the company, with terms and pricing that is acceptable.\u0026nbsp;\u003cbr /\u003e\r\n\u003cbr /\u003e\r\nIf there are gaps in the documentation the target compiles and shares gather, the company risks omitting critical information that could result in failure to reach a high valuation and sale price. Even worse - it could impact the reputation and future of their business.\u003cbr /\u003e\r\n\u003cbr /\u003e\r\nPoor organization can result in the discovery of risks late in the process if a company has exercised due diligence improperly. This creates stress for both parties, costs time to resolve, and increases the chances that the deal will fall through.\u003cbr /\u003e\r\n","layout":"Thin"}},{"type":"Components","name":"Image","props":{"image":"/getmedia/ccf37b91-53a7-4207-a8ca-87f113e0f01c/AdobeStock_252807315.jpeg","alt":"Due diligence examples","layout":"Thin"}},{"type":"Components","name":"RichText","props":{"children":"\u003cbr /\u003e\r\n","layout":"Thin"}},{"type":"Components","name":"Section","props":{"text":"Due diligence examples"}},{"type":"Components","name":"RichText","props":{"children":"\r\n\r\n\u003ch2\u003eDue diligence examples\u003c/h2\u003e\r\nAs we\u0026rsquo;ve observed, due diligence can be concise and focused, as for selling a small business or a small part of a business, or vast in scope, where an anticipated large transaction leads to thorough scrutiny of the business.\u0026nbsp;\u003cbr /\u003e\r\n\u003cbr /\u003e\r\nDue diligence can take a toll on a business and its people, so streamlining processes is critical. Here are a few examples of where due diligence might impact a business:\u0026nbsp;\r\n\u003cul\u003e\r\n\t\u003cli\u003e\u003cstrong\u003eAcquiring a smaller company:\u003c/strong\u003e the acquiring company will review the employment agreements, company culture, policy and process, any labor disputes and intellectual property as well as compliance, financial health and assets.\u0026nbsp;\u003c/li\u003e\r\n\t\u003cli\u003e\u003cstrong\u003eProcuring technology:\u003c/strong\u003e a non-profit procuring IT services would assess the cybersecurity of infrastructure to identify any risks or compliance issues.\u0026nbsp;\u003c/li\u003e\r\n\u003c/ul\u003e\r\n","layout":"Thin"}},{"type":"Components","name":"Section","props":{"text":"Due Diligence Checklist"}},{"type":"Components","name":"RichText","props":{"children":"\r\n\r\n\u003ch2\u003eDue Diligence Checklist\u003c/h2\u003e\r\nBuying a business is a costly endeavour, so it\u0026rsquo;s important you are confident you have all the information you need to make a well-informed decision.\u003cbr /\u003e\r\n\u003cbr /\u003e\r\nOur \u003ca href=\u0022https://www.ansarada.com/due-diligence-checklist\u0022\u003eDue Diligence Checklist\u003c/a\u003e lays out the framework for everything the seller needs to provide and the buyer needs to consider in order to progress the deal. It is a file structure that has been built from 50 million data points across 23,000+ deals to help you organize your business data and ensure nothing gets missed.\u003cbr /\u003e\r\n\u003cbr /\u003e\r\nAnsarada Deals\u0026trade; is a centralized Deals space bringing together a purpose-built set of solutions into one fully integrated platform. Digitize all your due diligence checklists with Deal Workflow\u0026trade;, a project management tool that gives you complete oversight and control. Use it to start preparing for your deal for free until the deal goes live.\u0026nbsp;\u003cbr /\u003e\r\n\u003cbr /\u003e\r\n","layout":"Thin"}},{"type":"Components","name":"CtaText","props":{"title":"Automate your due diligence","children":"Start preparing today for free, with no cost until the deal goes live.","background":"Low","firstCtaBtn":{"text":"Get started for free","variant":"Outlined","ctaHref":"https://www.ansarada.com/freemium-signup/corporate"}}},{"type":"Components","name":"RichText","props":{"children":"\r\n\r\n\u003ch2\u003eBusiness due diligence questions\u003c/h2\u003e\r\n\r\n\u003ch3\u003eWhat are the four Ps of due diligence?\u003c/h3\u003e\r\n\r\n\u003cul\u003e\r\n\t\u003cli\u003ePeople: assess how the experience and expertise of leadership\u003c/li\u003e\r\n\t\u003cli\u003ePhilosophy: focus on whether an investment is likely to drive success and ROI\u003c/li\u003e\r\n\t\u003cli\u003eProcess: assess how key business processes are implemented and managed\u003c/li\u003e\r\n\t\u003cli\u003ePerformance: analyse how strategies perform, long term\u003c/li\u003e\r\n\u003c/ul\u003e\r\n\r\n\u003ch3\u003eHow long does business due diligence take?\u003c/h3\u003e\r\nTimeframes for due diligence depend on the complexity of the transaction and size of the company involved. Generally, advisors allow 30 to 90 days but this may be extended to navigate complex regulatory requirements or evaluate intricate financial structures. Efficient planning and workflow processes, plus clear communication between parties, can expedite the process.\u0026nbsp;\r\n\r\n\u003ch3\u003eHow can a business prepare for due diligence?\u003c/h3\u003e\r\nOrganise and collate all relevant documents, including financial statements, contracts, legal records and applicable regulations to give buyers or investors transparent, comprehensive information. An internal audit can help identify potential risks and prepare the business for scrutiny, address compliance issues and streamline the process. Seek legal and financial advice to identify questions that may arise during due diligence.\u0026nbsp;\u003cbr /\u003e\r\n\u0026nbsp;","layout":"Thin"}}]},{"type":"Templates","name":"Footer","props":{"facebookHref":"https://www.facebook.com/AnsaradaPlatform","twitterHref":"https://twitter.com/ansarada","linkedInHref":"https://www.linkedin.com/company/ansarada","youtubeHref":"https://www.youtube.com/user/ansarada","privacyHref":"/privacy","legalHref":"/legal-policies","linkGroups":[{"name":"Community","links":[{"name":"Blog","href":"/blog"},{"name":"Events","href":"/events"},{"name":"Success Stories","href":"/customers"}]},{"name":"Company","links":[{"name":"About","href":"/about"},{"name":"Virtual Data Rooms","href":"/virtual-data-rooms"},{"name":"Help Centre","href":"/help-centre"},{"name":"Resources","href":"/resources"},{"name":"Careers","href":"/Careers"},{"name":"FAQs","href":"/faqs"},{"name":"Contact us","href":"/contact"},{"name":"Pricing","href":"/pricing"}]}],"currentYear":2025,"pardotFormUrl":"https://go.ansarada.com/landing-iframe.html?formid=1013\u0026formstyle=bpxform_kentico1col-footer\u0026noredirect=true"}}]}), document.getElementById("react_0HNAFSD1U3GV7")); </script> </body> </html>