How Recycle Track Systems Discovered Effective Pipeline and Diligence Management with DealRoom

In this customer success story Matt Hillin, VP of Corporate Development at Recycle Track Systems, discusses how RTS used DealRoom to up their M&A game.

About the Company:

  • Recycle Track Systems was founded in 2014 and is an environmentally-focused waste and recycling management company. Recycle Track Systems uses a software platform and a tracking system to provide hauling services for businesses.
  • RTS uses digital solutions with high-touch service to make waste disposal simpler, smarter, and more responsible, pioneering a stronger way to manage waste.
  • Recycle Track Systems helps companies track and optimize their pickups with fully integrated waste management solutions and on-demand removal through the mobile app. RTS empowers and encourages businesses to be fully conscious of their climate impact and waste habits.

Challenges:

As the company progressed, M&A became a core part of Recycle Track Systems’ growth strategy. Recycle Track System’s corporate development lead knew they needed to up their game when it came to the M&A process. They were using platforms such as Excel and Google Drive to manage documents with lawyers, accountants, advisors, sellers, and buyers, and realized the process was a “disaster”. It was very difficult to make sure documents were up to date and finding the proper document was a taxing experience. They were afraid of scaring off skittish sellers if the process were to stay the same, so this is when they knew they needed a platform like DealRoom

  • Inconveniences using traditional spreadsheets
  • Delay in information and version control issues
  • Organization of documents, tracking what was where
  • Coordination of who had access to what information
  • Lack of trust with sellers
  • Efficiency and speed
  • Visibility, traceability, and accountability through the overall process

Solutions:

Unlike Excel and Google Drive, DealRoom could better assist with pipeline management and the full lifecycle of the process. It was an all-in-one solution so that they could easily access all necessary information quickly and in one organized space. They felt DealRoom could really assist with the diligence process and proper prioritization. The integrated requests tracking management system and the user interface were key highlights for solving issues for their team.

  • DealRoom’s capability to have all of its documents in one place for each step of the process allowed for RTS to increase efficiency, timeliness, quality of work, confidence, and accuracy.
  • Admins can choose who can access what, ultimately engaging certain groups in a more focused manner since modifications to data room users, documents, and access controls can be reached without needing external permission.
  • DealRoom’s templates for due diligence, pipeline management, and integration allowed RTS to streamline processes that used to create stress and uneasiness for both the buyer and seller.

Outcome:

Recycle Track Systems now confidently says that they feel calm and comfortable during the M&A process since using DealRoom. They no longer have to worry about gaps of missing information or how to stay organized. RTS knows that they won’t lose a deal due to the process scaring off prospective clients, as this is now a fear of the past. When it comes to pipeline and diligence management, RTS now feels they have clarity and visibility since they never have to rummage around for updated information again. There are fewer steps in the overall M&A process, they have saved money, and have found their clients respond positively to the platform. They now stick to exclusively using DealRoom during their deals.

  • Improved accuracy, quality, visibility, and momentum going into the M&A process.
  • Replaced multiple tools with just one, causing less confusion amongst all using the platform
  • Improved relationships due to less frustration, saved time, stronger communication, and a better reputation during deals
  • A positive response from all parties involved due to DealRoom’s intuitive onboarding process

Adoption with the seller was outstanding. He was super enthusiastic because frankly, he loved it.
Matt Hillin

Customer

Recycle Track Systems

Industry

Environmental Service

COMPANY SIZE

51-200 employees

Location

United States, New York

PRODUCT SOLUTIONS

Recycling, Waste Management, Organics Recycling, Bulk Waste, E-waste, Waste Removal Services, On Demand Waste Removal, On Demand Recycling Removal, Waste Diversion, Food Waste, Recycling Training, LEED Accredited, and Waste Diversion Analytics

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