Effective Use of Vendors in M&A Deal Processes
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Choosing where to use vendors is a critical element and force multiplier for your team. Outside vendors are often seen as a gap-filling resource. But we know this is not the case. Lawyers and investment bankers have long been viewed as a standard part of the deal process because they bring a level of specific expertise that is not found or available in-house.
The same mindset should be applied to other vendors. Corporate development must ensure their internal resources have the right capabilities and that their time is used effectively. The deal leader needs to be willing to have the hard conversations to bring the right resources to bear.
A blended team of corporate development, internal operators, and external vendor experts usually yields the most effective and efficient team when properly structured and integrated. Creating a standard process and playbook for deploying these resources often makes the discussion with business leaders easier.