Why Use a Third Party for Customer Due Diligence?

Based on the emails I receive to my Post, I’m adding this additional Post. Similar to Financial Due Diligence and Legal Due Diligence, Customer Due Diligence is required before an acquisition to mitigate risk. Search fund investors prefer searchers use an independent third party since they don't believe the searcher is objective, especially when they're excited about closing a deal. WHIZDOM is a third party that is objective, independent and unbiased and provides accurate and precise information. WHIZDOM reports are roadmaps for post-acquisition initiatives.

In addition, Sellers are very sensitive about releasing Customer contact information. By releasing that information to WHIZDOM instead of the searcher, Customer contact information is released sooner and Customer Due Diligence can be completed sooner.

WHIZDOM also works with portfolio company CEOs post acquisition in two ways: Within a year of the acquisition, WHIZDOM interviews business Customers to determine the impact of the acquisition on Customer relationships, negatively or positively, in order for the CEO to retain current Customers and reduce churn. After the first year following the acquisition, WHIZDOM interviews business Customers to understand Customer satisfaction, switching behavior, etc. to enable the CEO to grow revenues by retain current Customers, reduce churn and attract new Customers. At the recent 11th Annual Kellogg/Booth ETA Conference in Chicago that I attended, an investor told me that WHIZDOM is the only firm he’s heard of that specializes in conducting Customer Due Diligence.
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