How Paylocity Modernized Their Diligence Management with DealRoom

About the Company:

• Paylocity was founded in 1997 as an all-in-one software platform to assist human resource professionals with a cloud-based payroll management system.
• Paylocity is an easy and innovative solution for automation, insights, and engagement. It is the HR & Payroll company that works with you to help reach your goals so you can spend more time with your employees.

Challenges:

Paylocity was looking for growth opportunities with M&A in both organic and inorganic ways across the business. They wanted a software to differentiate them in the market and help accelerate their roadmap in areas where they didn’t have the expertise in-house. Their current process felt tedious, having to update everything in Excel constantly and not having all the information in one place. They had too many communication channels, and it was very hard to keep track of request lists. Paylocity required software to make the M&A process more seamless and easier to manage asynchronously.

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• Too many communication channels
• Inconveniences using many different platforms
• Organization of documents, tracking what was where
• Coordination of who had access to what information
• Inconveniences using traditional spreadsheets
• Efficiency and speed difficulties.

Solutions:

When searching for a solution to their current efficiency issues, Paylocity researched several different software platforms. DealRoom impressed Paylocity with its integration between not just the data site hosting, but also the commenting features and the request list that synced to the data room. Since a lot of their day was spent managing an Excel tracker, they immediately saw the value in DealRoom and decided to do the free trial.

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• Being able to integrate the request list with the data room kept the company organized and on top of their tasks, saving time and energy
• It’s a tool that they would continuously use to keep all M&A information organized in one cohesive space, creating a single source of true information
• DealRoom’s intuitive onboarding process allowed for quick adaptation to the platform for internal and external users
• The admin permission settings allowed managers to have visibility of the team’s engagement levels and consistent live updates on key risks that may occur during the deal

Outcome:

Paylocity was able to take their manual processes and automate them, accelerating crucial operations where every minute counts. They now get more deals done, send fewer emails, and can have fewer meetings. Their overall project management and communications have improved significantly, ultimately saving them time and money and adding more value-added processes to the deal. They feel they have a much stronger capability of closing deals with DealRoom as their partner.

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• Integrations were completed 4 months faster with DealRoom
• Difficulties were easier to solve asynchronously due to a singular line of communication and proper organization of information
• The amount of searching for information was reduced due to a cleaner interface causing less confusion and redundancies amongst all parties using the platform
• They received great feedback from all employees, including the COO of a target company saying she used DealRoom “religiously” and had “no complaints”
• Paylocity has been a customer of DealRoom for over a year, conducting three successful deals, and will be renewing their contract

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