Most firms have a standard process for managing a live transaction. On the buyside you might need to review a Teaser and CIM, then as a deal progresses prepare a presentation for the Investment Committee, sign a Letter of Intent, etc. On the sell side, you likely need to win a mandate, evaluate buyers, and manage the data room.

If you’re a user of a traditional CRM, you probably know all too well that they are only capable of accommodating one-off tasks. Users must go into specific accounts to manually create dozens of individual tasks. For a firm with a standard workflow, this can be a cumbersome and painful process. Having to manually create tasks leaves open the possibility for individuals make manual errors.

Many investors and advisors find it crucial to follow a standardized workflow process during a transaction. In order to do this they normally create and assign predetermined tasks across their firm. Trying to systematize it in a traditional CRM which are not designed to handle these workflows, oftentimes leads to increased costs and lost productivity by resorting to purchasing separate workflow management technology or simply abandoning the CRM, and using Excel spreadsheets and Outlook calendar notifications. These users enter a terrible type of workflow process that leaves them in a loop of frustration.

Not the kind of workflow you want to be in when running a transaction, but one many users find themselves in.

DealCloud is different. DealCloud was designed specifically for Deal Professionals and has a fully configurable workflow engine that is integrated with your dealflow tracking and execution. New workflows can be designed and set up by Platform Managers or anyone with proper permissions. Tasks can be assigned to specific groups on your team with the option to require a step-by-step progression. Furthermore, firms can require all tasks to be completed before progressing a deal through the pipeline.

Workflow design in DealCloud

Ensuring that everyone is following up on their tasks is also critical to managing a process. DealCloud makes managing this easy while providing visibility and updates to those who need them. Each user or deal can have their own dashboard, where tracking what needs to be done is readily available for review.

Task tracking dashboard in DealCloud

DealCloud will also notify assignees about upcoming due dates and pending tasks. This can be done through emails or notifications in the DeaCloud desktop portal and mobile app. The emails themselves will have links that take you directly to what’s been assigned so you don’t have to hunt for them later. Better yet, if you are getting too many emails, you can sign up for a daily digest at the time of your choosing.

Sample email notification from DealCloud with assigned tasks.
Never miss an alert or task assignment in DealCloud.

Investors and advisors benefit from a standard, repeatable process for their transactions. Driving process compliance is often how successful firms differentiate themselves from competitors. If your team is forced to use disparate systems, or work outside of your traditional CRM, it is time to reconsider that platform altogether.

DealCloud’s workflow and notification engine allow users to go far beyond the limitations of traditional CRMs by creating, standardizing, and driving formal processes across their firm.

To learn more about how DealCloud can impact your firm, contact sales@dealcloud.com.

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