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DealCloud Differentiator – Push Button Tear sheets

Most firms have consistent reporting formats that need to be generated on an agreed upon schedule, like weekly or monthly. Great examples of this are a firm’s pipeline report, fund raising status, or a client facing buyers list report.

For most firms, generating these reports means putting together an excel spreadsheet and spending time to properly sort and format the report every time it needs to be created. Why Excel? What other options do you really have?

The Five Must-Have People on Your CRM Task Force

For most private equity firms and investment banks, the past two decades have been a period of overall growth and strong performance. A confluence of factors including higher deal multiples and an increasingly fragmented market have made it more difficult for these market participants to boast the same numbers. In response, countless capital markets firms have turned to technology – and, more specifically, CRM solutions – to help automate tasks, organize processes, and streamline dealmaking efforts.

Investing in technology, no matter the size or strategy of a firm, can be a daunting task. Just as there’s a ton of pressure and stress involved in the final stages of closing a transaction, there’s typically a lot riding on the success (or failure) of an internal technology roll-out. With over 600 successful CRM implementations under our belt, the team at DealCloud and I have one major recommendation for all firms to follow: get the right people involved in the decision-making process.

In this article, we explore the five key personalities who will play a crucial role on your “CRM Task Force,” and how involving each of them impacts both the buying process and the post-implementation outcome. Believe us when we say: it takes a village!

The Skeptic

Let’s be honest – there’s always going to be at least one person on your team who doesn’t believe that a CRM can transform the way your business is run. Instead of keeping them far away from the buying process, their voice and concerns should be heard.

Whether they say “Our proprietary process is complicated and I doubt it can be properly represented by technology,” “We tried this once before and it failed,” or “I like the way we do things now” – it’s critical that your CRM Task Force face all doubts head-on. By including the skeptics in the process, you create a more productive dialogue about the feasibility and use cases for the technology, as well as the best practices for encouraging user adoption.

The Optimist

There’s also always going to be at least one person on your team who will think that a CRM system will solve every problem your firm has. While there’s no denying the fact that CRM systems drive meaningful value for capital markets firms, there’s no “one size fits all” approach.

Implementing a CRM properly requires time and commitment to getting it right. Instead of letting the optimists in the group run away with unrealistic expectations, be sure to craft a sensible calendar of milestones for the implementation process and work together to establish a set of short- and long-term goals.

The Strategist

Many capital markets firms are flocking to CRM solutions either because they’ve used one in the past and have seen its positive effects, or they know their competition uses it and they want to stay on a level playing field. That’s why we recommend adding to the Task Force anyone who has prior knowledge or experience with CRM solutions. Their insights, anecdotes, and strategies will serve as very helpful considerations for making the right decision for your firm.

The Procrastinator

With over 200 new clients added in 2018, it’s easy for us to think that implementing a CRM solution is an absolute imperative… but we also know that some people may never feel that sense of urgency. That’s why your CRM Task Force should be prepared to answer the following question: “why now?”

While it may seem like the procrastinator of the group is just being lazy or unwilling to change, it’s critically important that everyone be prepared to carve out time and energy for the new technology. It may never be a “good time” to make such a substantial process and behavior change, but coming up with a solid answer for the “why now?” question will not only help you build consensus across the organization, but it will encourage user adoption.

The Controller

It should be no surprise that high-value, high-powered, and purpose-built solutions come at a cost. That’s why we recommend that the person who controls the budget be included on the CRM Task Force in its early days. 

The entire Task Force will significantly benefit from having an understanding of what its able to spend on the solution itself, the implementation process, and any enhancements the group needs or wants. This person is often uniquely suited to assess the return on investment for the solution – and that’s something everyone will be focused on.

Conclusion

If you’re considering implementing a CRM solution at your firm and want help putting together a Task Force, contact out team now! We’re happy to share our blueprints and best practices.

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The Forbes M+A Group Deploys DealCloud

The Forbes M+A Group, a Denver, CO-based transaction advisory firm, has deployed DealCloud. The firm serves buyers or sellers in middle-market M&A transactions, and its senior advisors have more than 150 years of combined experience in transactions across a wide variety of industries, transaction types, sizes, and structures.

“We know that every business is unique, and we value our clients’ distinctiveness. We chose DealCloud to help us better understand all the factors that contribute to our clients success,” says Max Eckstein, Vice President at The Forbes M+A Group. “Through DealCloud we are able to deploy our unique and extensive processes that captures a broad universe of data and efficiently put that to work for our clients benefit.”

“The team at The Forbes M+A Group provides hands-on, senior-level leadership on every transaction and has their finger on the pulse of changing market valuations and consolidation activities,” says Ben Harrison, Chief Revenue Officer at DealCloud. “We’re proud to support their team with the technology solutions they need to deliver the best possible outcomes for their clients.”

About The Forbes M+A Group

The Forbes M+A Group is an award-winning Denver, CO-based mergers and acquisitions advisory firm. The firm serves sellers or buyers in middle-market M&A transactions. It applies meticulous attention to detail in helping business owners develop and execute M&A strategy, acquire companies and partner with investor groups for growth, and maximize value in an eventual exit. Senior advisors at The Forbes M+A Group have more than 150 years of combined experience in transactions across a wide variety of industries. For more information on the Company, please visit: www.forbesma.com or (303)770.6017.

About DealCloud

DealCloud, an Intapp company, provides a single-source deal, relationship, and fund management platform to enable over 600 clients to power their deal-making process from strategy to origination to execution. We offer fully configurable solutions purpose-built for the complex relationships and structures of private equity and growth capital firms, investment banks, private and publicly traded companies, debt capital providers, and other investors. For more information, visit www.dealcloud.com.

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Kian Capital Deploys DealCloud

Kian Capital, a Charlotte, NC and Atlanta, GA-based investment firm with over $425 million of capital under management, has deployed DealCloud. The firm provides growth capital to established lower middle-market companies and often serves as the first institutional capital provider to closely-held businesses. The firm is focused on investments in the business services, distribution/logistics, healthcare services, consumer services and products, as well as niche manufacturing industries.

“When I joined Kian, we were using a well-known CRM platform with a “tailored” portal for private investors. Having had the benefit of implementing DealCloud at a prior firm, the contrasts I observed were stark and the choice to switch was an easy one to make. DealCloud’s robust technology backbone, customizable interfaces, elegant design and outstanding customer service stand out,” says Kian Capital’s David Duke, Managing Director of Business Development. “DealCloud has quickly become a critical part of our overall development and deal management efforts. We’ve only scratched the surface on other value-add ways we’ll ultimately utilize DealCoud’s capabilities in areas like fundraising and portfolio management.”

“Kian is a strong, reputable firm that closed over 12 deals in 2018 and is off to an impressive start in 2019,” said Ben Harrison, DealCloud Co-Founder and Chief Revenue Officer. “We’re proud to support them with our deal management and business development platform.”

About Kian Capital

Kian Capital Partners, LLC (“Kian”), an investment firm with over $425 million of capital under management, provides flexible capital solutions to established lower middle-market companies, often serving as the first institutional capital provider to closely held businesses. Kian has the flexibility to participate in all forms of junior capital, including common stock, preferred equity and subordinated debt. Kian’s investments typically incorporate both equity and subordinated debt and Kian can act in either a control or non-control capacity. Kian has offices in Atlanta, GA and Charlotte, NC. For more information, visit www.kiancapital.com.

About DealCloud

DealCloud, an Intapp company, provides a single-source deal, relationship, and fund management platform to enable over 600 clients to power their deal-making process from strategy to origination to execution. We offer fully configurable solutions purpose-built for the complex relationships and structures of private equity and growth capital firms, investment banks, private and publicly traded companies, debt capital providers, and other investors. For more information, visit www.dealcloud.com.

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DealCloud and SourceScrub Form Data Partnership, and Announce Integration with DealCloud DataCortex

Integration of SourceScrub’s verified data into DealCloud’s DataCortex product to provide clients with increased visibility on movements and opportunities within the capital markets.

Jersey City, NJ | February 4, 2019 – DealCloud, a technology leader for CRM and deal management in the capital markets, and SourceScrub, Inc., an origination intelligence and target identification platform, announce today a strategic partnership to integrate SourceScrub data within the DealCloud DataCortex product.

“Along with countless product enhancements and opening our first European office, we’ve made several data partnerships over the last year that allow our clients to more confidently move about their day-to-day dealmaking activities,” says DealCloud Chief Operating Officer Lokesh Seth about the integration. “The launch of this particular partnership between DealCloud and SourceScrub signifies to deal professionals that not only can various data streams be accessed via the centralized DealCloud product, it can also be verified with the help of SourceScrub’s expert research team. Together, we want to empower private equity, venture capital, investment banking, and corporate development teams of all sizes to better allocate their time and more effectively validate their prospecting decisions.”

SourceScrub’s data – which is comprised of lists from over 20,000 sources including industry conferences, buyers guides, fast growth publications and market maps – is increasingly sought after by business development and deal professionals for its support in prospecting and diligence activities across the M&A ecosystem.

Through the integration, DealCloud customers can leverage SourceScrub’s private company data using industry-specific data points, such as ownership and size, along with C-level contact information. SourceScrub employs advanced search logic and technology to narrow or widen searches and is fully equipped to export lists via Excel.

“Capital is still a commodity [this far in 2019] and the market remains competitive as ever. SourceScrub provides investment professionals and bankers with relevant private company information that they would otherwise spend countless hours gathering themselves,” said Tyler Fair, CEO and Co-Founder of SourceScrub. “Even if you aren’t a ‘sourcing shop,’ you can utilize SourceScrub simply to identify other assets in a space allowing you to build market landscapes and evaluate an opportunity in real time.”

Over 500 principal investing firms, investment banks, and operating companies rely on DealCloud’s solutions for storage of proprietary data, deal sourcing, origination and deal management. In addition to SourceScrub, DealCloud has data partnerships with Pitchbook, DataFox, and Sutton Place Strategies.

About SourceScrub, Inc.

For M&A business development, SourceScrub provides research and information management systems that incorporates thousands of online sources from trade show exhibitor lists to industry buyers’ guides. SourceScrub is working 24/7 to ensure we offer accurate and current data for prospecting investment opportunities. Our sourcing data and prospecting tools promise to save time and increase deal flow.

For more information, please visit www.sourcescrub.com.

About DealCloud DealCloud, an Intapp company, provides a single-source deal, relationship, and fund management platform to enable over 600 clients to power their deal-making process from strategy to origination to execution. We offer fully configurable solutions purpose-built for the complex relationships and structures of private equity and growth capital firms, investment banks, private and publicly traded companies, debt capital providers, and other investors. For more information, visit www.dealcloud.com.

3 Key Principles to Follow When Rolling Out New Capital Markets Technologies Firm-Wide

It’s completely natural for capital markets leaders and managers to have some worries about the way a new technology solution will impact individuals, teams, and internal processes post-implementation. That’s why some organizations try to “soften the blow” by only rolling out the technology to a smaller, controlled group of users (such as by industry specialization or geographic coverage) instead of broadly across the organization.

Private equity and investment banking leaders usually come to ponder a “phased” or “team-by-team” approach because they’ve never completed a sizable internal technology implementation before; because they want to identify and triage challenges with a smaller group of people rather than expose the masses to a potential issue; or because of other trepidations. But when it comes time to make a decision, the only question that members of the leadership team and the buying committee are really trying to answer is: how painful is this going to be?

In this article, we examine the three fundamental principles to consider when rolling out a new technology. With hundreds of investors, advisors, and lenders faced with the need to make major internal technological shifts each day, these truths can help capital markets professionals decide what approach makes the most sense for their unique organization.

Principle #1: Don’t let what makes your firm unique slow you down

The capital markets are complex. That’s why Principle #1 emphasizes why any new technology being implemented internally should be purpose-built to handle the complex relationships, responsibilities and structures of the industry. In other words, if you have the opportunity to configure your new technology to match the intricate inner-workings of your firm and the strategies you execute on, we recommend leaning into these intricacies rather than shying away from them.

In the state of modern dealmaking, new fundraising, advisory, investment, and other opportunities come from all angles, all the time. If your teams use disparate technology platforms, communication and visibility will decrease, and your firm will miss out on new deals and engagements. To curb this, best-in-class firms are building and designing their technology solutions to meet the needs of the entire firm, however complex or unique each group or individual may be.

A common best practice is to align the technology platform to the existing team orientation, whether that be by product/service offering, coverage designations, function, etc. More often than not, capital markets professionals wear many hats and have overlapping responsibilities, so it’s best to allow all of those instances to be illuminated by the technology. Doing so will drive better outcomes in deals and fundraising processes. It will promote a more interconnected workplace.

Principle #2: This is an investment… with a high return

Buying a new technology requires money… but implementing one requires time. That’s why Principle #2 of rolling out a new technology emphasizes the time your team will need to commit in order to make the solution valuable.

Going into the implementation and roll-out stages of a technology investment, it’s important that all teams discuss how much time and energy each person can expect to invest. If the purchase is viewed as “just a test,” or a “trial,” it won’t garner the support it needs to spur user adoption and meaningful organizational change. If some people or teams are left out of this mutually agreed upon commitment, or are only included on Phase 3, for example, they are more likely to be disengaged when it’s their turn to participate and feel as though the solution “wasn’t built for them.”

Just as investors would never buy a company, let it sit idle, and only “test” out new ways to generate revenue, investment banking and private equity firms should never buy new technologies without devoting meaningful resources and human capital to the implementation and roll-out. You simply cannot disconnect the financial investment from the investment of time from all parties, and if you do, you’re setting the technology up to fail or fall short of expectations.

Principle #3: You get what you give

Nobody wants to spend weeks (or even months) going through the sales, legal and compliance processes associated with buying a new internal technology solution just to have it fail or be poorly adopted. That’s why Principle #3 of rolling out a new technology emphasizes why buy-in across leadership teams, key stakeholders, and end users is critical to success.

Whether switching systems, or purchasing a technology platform for the first time, it’s extremely important that members of your team see that the technology is being purchased in response to the pain experienced by the firm day-to-day. In other words, teams should be well-oriented with the problems that the technology will address, and how solving those problems will make the firm more efficient and more successful. 

It’s also important that the technology is described as vetted, secure, and impactful by key stakeholders such as Chief Information Officers, Chief Technology Officers, and other team members that have experience in rolling out new technologies firm-wide. Similarly, if Partners and Managing Directors position the technology as the new normal, it will be more quickly adopted. These types of endorsements will inevitably trickle down to the end users, and the end users will be better-positioned to succeed.

Conclusion

If the implementation of your CRM system feels overwhelming and complex, rest assured that following these three simple principles will get your team off to a great start.

And remember – you don’t have to go it alone. Over 600 firms have migrated to DealCloud’s platform because of the way it adapts to meet the complexities of modern deal making and of business development teams of all shapes and sizes. Our dedicated teams are available to provide guidance, and we’re proud to share our best practices and blueprints for making implementation faster and more meaningful.

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BRG Capital Advisors, LLC (BRGCA) Deploys DealCloud

BRG Capital Advisors, LLC (BRGCA), a New York-based provider of strategic advisory services including mergers and acquisitions, balance sheet restructuring/recapitalization, growth equity and debt placements, has deployed DealCloud. BRGCA is the broker–dealer affiliate of Berkeley Research Group (BRG), which has more than 1,100 professionals in over 40 offices around the world. BRG has global experience and teams dedicated to industries where the firm’s track record and depth of understanding are among the best in class.

“DealCloud was the obvious choice for BRGCA. It’s a true end-to-end solution that solves the major issues with managing deal execution,” said Roger Johnson, a Managing Director and BRGCA Executive Team member. “With deal teams in five cities, we can work seamlessly across a single platform.”

“We are thrilled to have the BRG Capital Advisors team as a DealCloud client, and we look forward to helping them leverage our platform for their business development and deal management needs,” says Ben Harrison, DealCloud Co-Founder and Chief Revenue Officer. “We are poised to support more middle market investment banks like BRGCA in 2019 and for many years to come.”

About BRG Capital Advisors, LLC

BRG Capital Advisors (www.BRGCA.com) is a US-registered broker–dealer and member of FINRA and SIPC. Its seasoned investment bankers have worked on a wide variety of transactions for financial institutions and corporate clients. BRGCA is an affiliate of Berkeley Research Group (www.thinkbrg.com).

About DealCloud

DealCloud, an Intapp company, provides a single-source deal, relationship, and fund management platform to enable over 600 clients to power their deal-making process from strategy to origination to execution. We offer fully configurable solutions purpose-built for the complex relationships and structures of private equity and growth capital firms, banks, private and publicly traded companies, debt capital, and other investors. For more information, visit www.dealcloud.com.