Ever feel like the walls of your data room are closing in? You’re grappling simultaneously with multiple projects and project types – acquisitions, restructurings, divestitures. You’d like to wake up – except you haven’t slept.
We know. Each year we help over 2,000 companies deliver more than 10,000 successful projects. So we’ve been there to soothe away every nightmare there is. Here are our top four – and how to beat them.
You might dream of being able to focus on one thing at a time. The reality today is that even small corporate development teams must multi-task.
Now you juggle a stack of projects ranging from M&A to refinancing, partnerships and more. Each demanding a team effort. Each involving multiple partners. Keeping so many big and small wheels in motion can stretch your resources to their limit.
It’s easier said than done, if you’re working flat-out. But invest a little time in developing repeatable processes and the pay-off in saved hours can be huge.
What parts of your processes are similar? Do you need to reinvent the wheel each time, or could one design work for several? For instance, create a set checklist you can use across all deals. And seek out a technology platform that can handle every project type.
Some issues can lurk unseen on the horizon, then devour months of your time. The redaction process alone can take anything from three to seven weeks. Post-close financing may consume even longer.
The finish line itself can run away from you as deal-end obstacles arise. Will you have to set up clean and dirty rooms for regulatory clearances? Negotiate transition service agreements for carve-outs? Tasks like these can ambush you and take far longer than expected.
Get to know the friction points of each process, where slowdowns tend to occur. Identify the causes of friction and learn what preventative measures you can take.
Treat processes such as redaction, Q&A and post-close activities as mini-projects in their own right. Scope out the hazards and remedies in advance.
Assume unforeseen delays are inevitable. Build your plan around them and set expectations early with your management team and internal partners. Budget time and energy for that last big push and nothing will catch you off-guard.
Rounding up tabbies might actually be easier than keeping tabs on your geographically far-flung team. Collaborating on a host of tasks from redaction to due diligence findings, contacting lawyers and tracking workstream progress, you can end up chasing your own tail.
Transaction management gets overwhelming fast. And that’s before you add version control issues into the mix. When not even your immediate teammates recognize your current version of a checklist, you know you’re in trouble.
Make it a habit to vet new technology. What innovative products and features could make your projects run smoother? What routine tasks can now be automated with AI? And who is offering the smart platforms you need?
Task management is a huge task in itself. The answer is to seek out tech made by those with deep experience of the challenges involved. For example, with Datasite, you can embed your checklists in the data room and automate workstream updates. Now that’s progress!
Compatibility matters. In deals as much as relationships. But you try out assorted products. You set up new suppliers. You work with different partners and departments, each with their own systems. And soon you’re jumping across more platforms than Super Mario.
Lack of integration means an endless treadmill of training users in different products. Every ad hoc purchase, invoice, negotiation and price adjustment just adds to the friction. It's exhausting and expensive.
Move to a single platform that provides everything you need. One designed to let you standardize workflows, improve collaboration, and minimize disruption around onboarding, training, and billing.
Now there’s just one invoice. One place for all the deal tools you’ll need – ever. One source of truth. Isn’t that one very good idea?
When everything’s on the line, you want best-in-class support and technology behind you.
Lean on bulk upload, AI-enabled auto-categorization, and document previews. Email info directly into the data room.
Assess interest by seeing who’s accessing the data room and what documents they’re looking at. Customize and receive reports on automatic so you’re always up-to-speed.
Save 50%+ in time and money with embedded workflow tools like Redaction AI and document translation.
Protect sensitive information with intuitive user permissions, in-app Q&A, and ironclad security. Keep GDPR/CCPA compliant.