Our customers store thousands of transactions on our platform (including closed transactions). The data stored for each transaction is different for each company dependent on the needs of the advisor and deal type. We have been servicing customers for three years and during this time we have seen some unique uses of data. This post highlights 10 of the surprising ways our customers are using their transaction database to run their business.
Transaction data is not just for comparables
We built Pitchly to put data back into the hands of transaction advisors to break their reliance on third party “top down” data aggregation platforms such as S&P Capital IQ. While the primary use of our transaction database is to record and leverage comparable transaction data, we are seeing an increased number of our customers using transaction data to better manage their business. Large firms are using Pitchly to facilitate resource allocation, benchmarking and communication between team members in the following three ways:
1) Efficient allocation of human capital by determining the best suited team members for an engagement based on prior assignments they worked on and team members they have previously worked with.
2) Benchmark proposed fee structures to fee structures of comparable transactions previously advised to determine if the level or risk is commensurate with the level of expected return.
3) Democratize transaction data by inviting marketing and communications teams the ability to analyze transaction information for attention grabbing publicity and reporting.
Legacy deals as important as firm deals
When building Pitchly we underestimated the importance of transactions completed by current deal team members at prior firms, or as we refer to them, legacy deals. Legacy deal experience is just as important as firm deals but how you display and record them differs:
4) Disclose the transaction as a legacy deal, two common methods are a simple footnote accompanied with a unique design feature.
5) The deal team member responsible for the legacy deal should be presenting it to clients. Credibility is lost when deals are presented in which the deal team has little experience with, especially if the firm was not the brand behind the engagement.
6) An acquihire may be an easy way to increase transaction experience in a particular sector and is becoming increasingly popular in the transaction professional service advisor space.
Accountability drives enhanced value
One of the problems our customers use Pitchly to solve is marrying a tombstone to a particular transaction. In a large organization tombstones are not easy to pair with a particular transaction if the deal team member is no longer at the firm. This often leads to confusion between the deal team and marketing, the risk of misinformation being presented to prospective clients, and ultimately the tombstone losing its credibility and value. When building Pitchly we wanted to grow our user base so we included functionality for the person recording the transaction to “tag” colleagues to notify them via email of their inclusion in a tombstone. Howeverm our customers knew better and decided to use this feature in a couple of unique ways:
7) Record Senior team member(s) and junior team member(s) who executed a particular transaction;
8) Request tagged team members to verify accuracy of the transaction information; and
9) Easily search and analyze deals performed by an individual or team.
Real-time insights crucial
We consume data constantly through apps, inboxes, and mass media. So it came as no surprise to us when we received requests for a simple dashboard to digest data on the go. Time is the most valuable commodity to an advisor.
10) By providing advisors an easy way to discover specific deal insights in minutes advisors can use Pitchly to answer questions on a phone call or in a meeting room on the spot.
We are investing more resources to expand this capability. Stay tuned for some exciting announcements in the coming months!
Pitchly is a transaction database for M&A professionals to record and share deal intelligence and tombstones easily. Professional service firms use Pitchly to record information about transactions they advise to better advise and market to clients. Customers can easily create or migrate a custom database or list of fields to record for each transaction. Pitchly makes it easy to distribute, audit and manipulate this information while automating transaction tombstones to market firm experience easily. Sign up for a demo or a free account now.