What tools do you use to help manage the M&A Process?
I was recently asked this during our M&A Express videocast “Why You Need a Roadmap.” There are two key ways I would answer that question.
First the macro view. Look at the big picture and develop — or adopt — an end-to-end process. This is a very simple principle, but I have come to realize that few companies actually have a process of any sort for approaching acquisitions.
Second, use well-designed tools within the process itself to help you evaluate and prioritize companies.
For example, in Phase 1 of the Roadmap to Acquisitions, we establish and develop weighted criteria and throughout the process we use a pipeline management tool to track our progress. Throughout each step of the Roadmap, tools like this can help you minimize emotion and increase objectivity as you identify and evaluate strategic opportunities.