Cadence Education was okay with an imperfect M&A system of using Excel trackers and doing everything manually at first, but once they started growing, they knew they needed a more robust system. Using several applications became confusing and time-consuming. More cross-functionality, security, and speed were needed. They went on the hunt for a software system to combat their issues, found DealRoom, and immediately loved what they saw.
Switching to DealRoom allowed Cadence Education to have confidence in their security standards when doing future deals, while also keeping all information in one organized and cohesive space. They were able to make sure that everyone was getting all the appropriate information, especially in their rollups.
Allison: "Using DealRoom, we are able to understand how our brokers, sellers, or other third parties operate on a day-to-day basis."
When Cadence Education does a rollup, there are so many moving parts.
Every rollup is so different from one another and they needed a system that could keep everything moving and accurate in real-time, and DealRoom was able to provide that.
Once Cadence Education switched over to DealRoom, they found that adoption was quite easy and everyone using the platform became very comfortable, very quickly.
Allison: "We love our partnership with DealRoom. M&A is a little different in every industry and the responsiveness to the feedback (functionality requests) we've given has been awesome."
They found that people stayed on tasks easier, the platform kept people moving with fewer hard stops, and there was a ridiculous amount of time savings. Their time savings then resulted in cost savings since people had an easier time prioritizing with the software.
Cadence Education finds that their meetings are shorter and more productive due to being able to find their information quicker due to being more organized.
Allison: "Absolutely. There are a lot of different tools such as Outlook, Teams, Sharepoint.. but DealRoom is a place where we can go back to and have everything we need in one specific location."
They know exactly what tasks are and are not complete, and it is easier for them to follow up with whomever necessary.