Establishing an Integration Strategy and Roadmap by Eric Roch on January 27th, A recent Perficient post highlighted the need for an integration strategy and outlined the problems with legacy integration approaches and tools.
Now whether you are acquiring a Billion dollar business or a small bolt on acquisition, integrating quickly is often the key to success. Overview Chair a meeting of the integration team and create a master to-do list broken down into themes including key items that arose in due diligence. Allocate a manager, for each theme.
Be realistic with timetables. Break items down into executables within 30, 60 and 90 days. Below are some ideas to get you started: Ensure all accounts are receiving the best group interest rate now that the target is part of a larger entity.
Establish operating budgets including capex with authorization guidelines. Establish a new management information pack timetable. In the early stages of integration — metrics will be key. Review balance sheets for adequacy of provisions. Drive through planned cost savings quickly and effectively with clear communication.
People Establish a reporting structure to ensure continuing trading is seamless. Review reward structures to ensure continuity of management especially if an earn-out excludes some key people. Anomalies between acquirer and target sales commissions will require urgent action as sales teams talk.
Do a quick and dirty review of problem employment contracts and put resolutions in place to minimize exposure. Organize immediate training related to closing sales and keeping customers happy. Establish a key meetings schedule to allow free and timely flow of information.
Systems Deal with exposures revealed by due diligence, prioritizing those related to keeping the trains running! Cleanse all sales forecasts ASAP and integrate the revised version into the group cash forecasting system.
Review cross selling opportunities between key customers of buyer and seller. PR Announcements Communicate often and clearly with staff and key stakeholders externally, especially key customers. The sellers will have signed off on the joint press release on the deal. This is a great opportunity to motivate staff and impress existing customers with the correct tone of message.
Marketing Set a timetable for all web site changes and allocate a webmaster to drive the project. Collateral may need to change to reflect the new products of the merged entity.
Legal Draw up a detailed checklist of leases, obligations, trade contracts, employment contracts, IPR, change of control provisions and articulate any commercial issues that require decisions by the leadership team. Note if an earn-out formed part of the deal, there may be quite onerous conditions regarding managing the newly acquired company.
These will need to be factored into the integration plan. Insurance and risk exposure reviews should be conducted as a high priority.
Tax and accounting matters related to regulatory compliance may require urgent action. Overall, the key message is to be prepared and to execute the integration with confidence. The worst thing you can do is to procrastinate.
Make your acquisitions a success and remember nothing succeeds as planned but failing to plan is planning to fail.
You have organize a great checklists. By doing your homework you are entering these meetings in a relaxed state of mind but make … Submit a Comment Your email address will not be published.Integrated Business Planning is a planning process that integrates across two or more functions in a business or government entity referred to as an enterprise to maximize financial value.
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