FW: Could you provide an overview of how technology is being used in the M&A process today? Are you seeing rising awareness among dealmakers regarding these benefits?
Sanderson: As technology becomes more prevalent in all things process management, we are seeing an increased focus across both the legal and insurance landscapes through InsurTech and LegalTech specifically – two areas that have been slow to capture the efficiencies of automation. Virtual data rooms dating back to the 1980s were just the beginning of streamlining the trading of mass quantities of documents, eliminating the need for dealmakers to physically be onsite to perform diligence. The cloud now makes it easier for these deal professionals to practically digitalise all of their workstreams in some shape or form, to capture the efficiency and transparency that technology solutions are providing.
Hebbar: A growing number of M&A professionals understand and appreciate the benefits of technology for their transactions. In fact, according to a recent study by Accenture Strategy, over 40 percent of all companies polled view technology as a disruptor in their growth strategies. For example, technology has been used as a catalyst during the due diligence process, as well as the expedition of post-closing integrations. The bottom line is that technology will soon be seen as a requisite part of a dealmaker’s toolbox – it is not a question of ‘if’ but more so, ‘when’.
Heuvel: The most prominent way that I have seen technology being used in M&A is through the rise of cloud computing, allowing 24/7 access to crucial deal documents from anywhere in the world. Technology has allowed deal teams to organise deal documents into one central location and facilitate collaboration through the cloud. Other technologies that are being used currently are spin-offs of mass-market technologies like salesforce, 1-to-1 document comparisons, and electronic delivery, signature and banking. While the market has seen steady growth of awareness among dealmakers, there is still limited growth in technology platforms specifically designed for M&A like we find in other industries.
