M&A is a complex process that involves a variety of stakeholders regardless of the industry or size of the company. This requires effective project management as well as collaboration. It’s crucial to find software that’s designed specifically for mergers and acquisitions M&A and has features such as project tracking, a central repository, and document storage, with privacy and version control settings. In addition, many companies utilize a variety of collaboration tools to help with their M&A processes. It is crucial to test the user-friendliness of these tools and ensure that they integrate with the tools that your team uses frequently.

The M&A process starts with a thorough study phase. This includes internal discussions about the reasons why a company might think about the possibility of a merger or acquisition as well as market research to evaluate possibilities, the development of a list with potential companies, and initial meetings with management teams. Traditionally, these processes are supported by databases that allow users to look up companies by name, industry specialization, location, revenue of the company and other criteria.

Once a deal is established, it’s the time to conduct due diligence on the target. This requires a thorough assessment of the financial health of the target and market position, as well as its customer base, and growth potential. Advanced analytics tools can be used to provide more valuable data and predictive modeling that can help to create a more robust and well-informed due diligence process.

The tools that Company X used initially were cost-effective, but ultimately led to delays in the M&A process and security risks that increased legal, operational and IT costs. The company eventually realized that it made a strategic mistake in deciding to leave Devensoft and decided to go back to the platform.