FAQs - Completeness Scoring & Risk Scoring
We utilize automated completeness and risk scoring across many of our modules to provide an indication of your company's investment readiness/growth readiness/exit readiness. We can analyze by module, by section within module and for your company overall. Taken together we can provide you a good indication of where your company needs to focus its efforts to improve its corporate organizational strength. We can then benchmark your company against businesses at a similar stage of development - other companies in a portfolio or in your industry sector.
Your individual scores are aggregated, again by algorithm into an overall certification score - bronze, silver gold. For more on certification, please click here.
Q What is the completeness score?
The completeness score is calculated on each module in real time as you complete it so that you (and third parties if you authorize them) can see the extent to which you have completed all the questions/sections of a module. The degree of completeness is an important component in the certification process. You can always return to a section to complete it further.
Q: How it my completeness score calculated?
We have some proprietary algorithms which calculate your completeness score for each module. However, the more of a module you complete (regardless of the nature of your answers) the higher your completeness score will be.
Q: What completeness score is required for bronze, silver and gold certification?
The minimum completeness score thresholds for bronze, silver and gold are contained in the certification module. Company Dashboard > Certification.
Q: How can I improve my completeness score?
Simple -You can improve your completeness score by filling in more sections and answers to questions.
Q: Why is completeness important?
The more of a module you complete, the better picture we can provide you in terms of your company meeting its stated objective.
Q: What is the risk score?
The risk score is calculated on each module in real time as you complete it so that you (and third parties if you authorize them) can see the degree of risk exposure your answers provide. The degree of risk is an important component in the certification process. You can always return to a section to complete or update it further as you undertake improvements and rectification of weaknesses within a section.
Q: How is my risk score calculated?
We have some proprietary algorithms which calculate your risk score for each module. The more areas of your business for which you have effective processes and information, the less risk the business is likely to be exposed to in that area/section. We aggregate the risk profile of each area audited/reviewed into a total risk score, for that section, module and for your business overall.
Q: What risk score is required for bronze, silver and gold certification?
The minimum risk score thresholds for bronze, silver and gold are contained in the Certification module. Company Dashboard > Certification.
Q: How can I improve my risk score?
Simple - You can improve your risk score by demonstrating in your answers to questions that you have effective processes in the section under review.
Q: Why is risk scoring important?
The more of a module you complete where you answer accurately, the better picture we can provide you in terms of your company meeting its stated objective.
Q: What prevents me from manipulating my responses or exploiting your platform to present a less risky view of my business
Nothing. However, presenting an inaccurate picture of your business doesn't benefit you, your advisors, or your investors in the long run. Additionally, investors may request your reports for thorough examination during due diligence and may be displeased if they later perceive any form of deception.
Q: Can investors rely on the risk score?
No - the scoring is merely indicative and should not be relied on without a third party undertaking their own due diligence. The risk score is calculated from the self-auditing of the business (unless that company has opted for Diligentsia Pro Plus - in which case the answers will either be generated by the external advisor, or audited by them. Diligentsia does not guarantee any of the report content delivered via its platform. Diligentsia simply provides the tools.
Q: Is Diligentsia liable for investment decisions taken by investors based on the reports from its platform?
No - Diligentsia simply provides its technology platform. It expressly disclaims responsibility and advises all third parties to undertake their own external due diligence to satisfy themselves.
Troubleshooting
Q: Why is my completeness score not updating?
A: Ensure you’ve saved all completed sections. Refresh your dashboard to see the updated score.
Q: How is the completeness score calculated?
A: Proprietary algorithms calculate your completeness score based on the percentage of completed sections and questions in a module.
Q: What should I do if my completeness score seems incorrect?
A: Review the module to ensure all sections are completed and saved. If the issue persists, contact support.
Q: Can I view completeness scores for individual sections?
A: Yes, completeness scores are calculated for each section within a module and can be viewed in the module report.
Q: How do I improve my completeness score?
A: Complete more sections and provide answers to all questions in the module.
Q: Why is risk scoring important?
A: Risk scoring identifies areas of vulnerability in your business and helps prioritize improvements to meet your company objectives.
Q: How is the risk score calculated?
A: Risk scores are calculated using proprietary algorithms that evaluate your responses for potential exposure and process effectiveness.
Q: Why is my risk score higher than expected?
A: A high-risk score indicates potential vulnerabilities in the answers provided. Review and improve processes in the relevant areas.
Q: What is the minimum completeness score for certification?
A: Minimum thresholds for bronze, silver, and gold certification are detailed in the Certification module (Company Dashboard > Certification).
Q: How can I lower my risk score?
A: Lower your risk score by demonstrating effective processes and providing complete, accurate answers in the module sections.
Q: Can I manipulate my responses to lower my risk score?
A: While possible, it’s not recommended. Misrepresentation can harm your credibility during external due diligence.
Q: Why are completeness and risk scores important for certification?
A: They indicate the extent of due diligence readiness and potential risk, forming key components of certification.
Q: What should I do if my risk score doesn’t reflect my actual risk exposure?
A: Review your responses for accuracy and completeness. Ensure that all processes are properly documented.
Q: Can I view aggregated scores for my company?
A: Yes, scores are aggregated by section, module, and overall company profile, visible in the Certification module.
Q: How frequently are scores updated?
A: Scores are updated in real-time as you complete or modify sections.
Q: Can investors rely solely on the risk score for decision-making?
A: No, the risk score is indicative and should be supplemented with independent due diligence.
Q: Are scores benchmarked against industry standards?
A: Yes, your scores can be compared against industry benchmarks and businesses at similar development stages.
Q: What happens if I don’t achieve the required scores for certification?
A: Certification will remain at the current level until improvements are made and the required scores are met.
Q: Can I export my completeness and risk scoring reports?
A: Yes, reports can be exported for offline use and sharing with stakeholders.
Q: How do I contact support for scoring issues?
A: Use the support bot on the website or email support@diligentsia.co.uk for assistance.