In brief: SaaS diligence should test recurring-revenue quality, churn, customer concentration, code ownership, security, infrastructure and founder dependence.
Revenue quality
- Reconcile MRR or ARR to billing records.
- Review logo and revenue churn.
- Analyze cohorts and expansion or contraction.
- Measure customer concentration.
Product and code
- Confirm source-code ownership.
- Review architecture and technical debt.
- Check dependency licenses.
- Assess security, backups and incident history.
Infrastructure
- Review cloud spend and scaling behavior.
- Map production services and monitoring.
- Identify founder-only credentials or undocumented systems.
Customers and support
- Review support load and response expectations.
- Inspect major customer contracts.
- Understand onboarding and implementation burden.
Transfer
Plan repositories, cloud accounts, domains, billing, support systems, analytics, documentation and seller engineering support as one coordinated handover.