Technology key to well-prepared deal teams

Submitted 02/06/2021 - 2:04pm -

DealCloud, an Intapp Company: Best Secure Workflow Management Provider – Despite operating almost completely remotely, in a post-pandemic world, many dealmakers are expected to become road warriors again. In view of this, technology will remain pivotal to ensuring they are coordinated and prepared for both on-site and remote meetings or due diligence. 

“In an industry that’s perceived as old-school, there has been a dramatic shift from unorganised Excel spreadsheets and scattered email chains to purpose-built technology for deal and relationship management,” comments Matthew Hardcastle, Client Development Director with DealCloud. “Embracing this technology is ultimately improving private equity firms’ bottom lines.”

Data management will always be a challenge for firms because it involves a continuous cycle of change. DealCloud’s technology solution makes it easy for firms to overcome this by enabling them to combine their own, proprietary data with a variety of third-party data providers (Preqin, PitchBook, S&P Global Market Intelligence, etc). They have access to dashboards which clearly compare and contrast different deal opportunities and portfolio performance data sourced from third party platforms. 

“Additionally,” Hardcastle notes, “in today’s environment, LPs are consistently asking their GPs to show proof of progress on their ESG initiatives. It’s important to choose a software solution that can be used to track firm-wide ESG initiatives and assist with automated reporting that keeps LPs — and the internal team — up to date.” 

As the pandemic pushed dealmakers to work from home, there was an instant need for capital markets professionals to connect virtually with their colleagues and a variety of stakeholders, including accountants, investment bankers, lawyers, business owners and more. “To do so, many firms implemented DealCloud for much-needed productivity and collaboration tools. This allowed seamless coordination across deal teams and investor relations,” explains Hardcastle.

Also, Hardcastle outlines, “firms need reliable and secure access to data and institutional knowledge from anywhere — desktop, mobile and wherever they may be working while on-the-go. Through DealCloud’s desktop and mobile apps, we make it possible for professionals to view dashboards, generate pre-formatted reports and more with the click of a button.”

The firm was built by dealmakers for dealmakers and aims to continue serving their most critical needs, from business development and pipeline management, to investor relations and marketing, to conflicts management and reporting.

DealCloud’s team knew industry professionals were frustrated by the fact that GPs and LPs historically saw brand name software platforms as their only options, despite the well-known limitations of those platforms.

Hardcastle pledges to continue building on the solutions currently offered: “We have a strong product roadmap that enhances existing features and makes it easier for dealmakers to manage transactions from origination to execution. DealCloud will continue to speak daily with prospective and existing clients to find out what they want and need, and adjust the product accordingly per their feedback.”

For example, DealCloud is actively building out its conflicts management capabilities to help clients effectively manage risk and ensure compliance with evolving, stringent regulations. 

Ben Harrison, Co-President, Financial Services & Founder
Ben Harrison has more than ten years of experience working in the investment banking, private equity and software end-markets. Prior to DealCloud, Ben worked for the Charlotte-based private equity firm Falfurrias Capital Partners and also in M&A advisory with Harris Williams & Co. and Edgeview Partners. Ben is a co-founding member of DealCloud and works alongside the team to help create and execute the organisation’s vision as the pre-eminent industry-specific software solution for professionals in the private capital markets. Ben is a former director and board member at Reach for Excellence and Sustain Charlotte. He is also a member of the New York Global Shapers, an initiative of the World Economic Forum tasked with creating local programmes that will make a global impact. Ben is a graduate of UNC Chapel Hill’s Kenan Flagler Business School and was awarded the William M. Rawls scholarship.

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