About the Company:
- Beacon Specialized Living Services was founded in 1998, and it offers behavioral healthcare through community living service apartments and residential adult foster care facilities across Michigan
- It services the developmentally disabled, mentally ill, and autistic adults in a behavioral healthcare setting
- Beacon Specialized Living’s goals for the programs are to help the residents gain life skills that will help them move forward to achieve independent living
Beacon Specialized Living was looking to continue to expand its company and increase its space in multiple aspects. Since they are very active acquirers, they wanted to bring in new software that could streamline communication and remove redundancies in a singular platform.
They experienced a lot of disorganization; different people were asking the same questions, causing their M&A process to be frustrating and sometimes unprofessional.
Their current methods were outdated, and their tools were very basic, making them realize they needed a change to save time and money.
- Redundancies causing frustration and unprofessionalism
- Inconveniences using many different platforms
- Organization of documents, tracking what was where
- Coordination of who had access to what information
- Original tools were very basic and standard
- Communicating properly with internal functional leaders when planning for integration
- Difficulties teaching new people how to navigate and find answers quickly
After Beacon Specialized Living looked at over ten different M&A platform possibilities, they realized DealRoom would be the best fit for their needs.
They liked the fact that it wasn’t just a data room but also software that could manage the full spectrum of requests and communication flow amongst all the parties involved.
It was intuitive enough for everyone to use, and it kept everyone organized no matter what aspects of the process they were a part of, eliminating their big issue of redundancies.
- Admins can put everything on one platform and choose who can access what, ultimately saving time and reducing redundancies since modifications to data room users, documents, and access controls can be accessed without needing external permission
- It’s a tool that they would continuously use to keep all M&A information organized in one cohesive space, capable of adapting as the company does
- An intuitive platform means less time onboarding new team members and external users
- The chat function improved the streaming consciousness of communication; everything that's related to a diligence request can be captured in the chat functions in conjunction with the document flow
In the long run, Beacon Specialized Living found that DealRoom helped them cut weeks off their M&A processes, and they saved thousands of dollars using the platform.
The legal team alone can streamline their scope of work from 20% to 25% by not having to start from scratch, which in turn lowers costs. They were able to customize DealRoom to their liking due to the flexibility of the software.
Better collaboration between internal and external parties occurred, making the process easier on everyone, especially their team leaders.
There was an extreme compression in the timeline on the diligence side for integration, and they could go through the diligence process while also doing integration planning in parallel.
- Replaced multiple tools with just one, resulting in a cleaner interface, and causing less confusion and redundancies amongst all parties using the platform
- Saved a lot of time with legal teams, tax advisors, and others, resulting in time-based costs greatly reducing
- Streamlined communication and more time spent on value-added activities due to no longer needing to chase people down for information because it’s presented to the right people at all times
- Improved relationships due to less frustration, saved time, stronger communication, and a better reputation during deals