How Flex Successfully Transitioned From an Old System to DealRoom

About company:

• Flex is a multinational electronics contract manufacturer and is the third largest global electronics manufacturing services, original design manufacturing company.
• Founded in 1969 to be the manufacturing partner of choice that helps a diverse customer base design and build products that improve the world.

Challenges:

Flex’s previous methods of conducting M&As were extremely unorganized and inefficient. Each aspect of the M&A was on a different platform, causing them to spend extra time tracking down documents and essential information. They were using older and outdated methods, causing inconveniences like extra calls and emails. They knew they were using too many tools at once, and wanted to go on the hunt for an alternative platform specifically for M&As.

• Due diligence organization
• Flexibility in terms of utilization
• Coordination of who had access to what information
• Inconveniences using traditional spreadsheets
• Weekly calls to stay organized
• Handling all the workload information
• Training for new systems
  

Solutions:

Flex knew that they needed a new platform to put everything together in one space. They wanted something that was very intuitive and easy to understand, and didn’t want to waste time on training or needing constant support. They wanted something that wasn’t too costly but could handle every aspect of the M&As from the due diligence to the finished product that they would use repeatedly.

• An intuitive platform means less time onboarding new team members and external users
• DealRoom’s templates for due diligence, pipeline management, and integration allowed Flex to have repeatable and scalable processes.
• It’s a tool that they would continuously use to keep all M&A information organized in one cohesive space
• Admins can put everything on one platform, and choose who can access what, ultimately saving time since modifications to data room users, documents, and access controls can be accessed without needing external permission

Outcome:

Flex is now able to handle a much larger workload and greatly increase efficiency. All the meetings and spreadsheets previously needed are now a thing of the past. Their due diligence process is organized and they have much more flexibility when it comes to utilization. Flex found a stronger ability to handle more deals due to improved communication and time utilization. DealRoom provided an all-in-one solution to their struggling aspects.

• Replaced 4 tools with just one, causing less confusion among all using the platform
• Real-time results during diligence to see all the different work streams as a deal lead with invaluable insight
• More time spent on value-added activities due to no longer needing to chase people down for information because it’s all presented
• 13 transactions currently in process for Flex using DealRoom

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