Keeping acquired customers happy and buying is paramount. That would be an official policy document that has all of the information that they need all in one place. Some of the top communication methods that I've used in the past would be email communications to the entire employee base, a top down approach where you use leadership meetings to then distribute the information down to their teams or even emails from top leadership at the acquired company, out to the employee base. So, we moved to a method where we were assigning each supplier to an individual and we built an in house software solution to help remind people of the tasks that they needed to do and when they needed to do them. SUBSCRIBE TODAY. Then, you're going to onboard suppliers through your company's supplier onboarding process. This template walks you through a culture analysis: Using a scale from 1 to 5, evaluate multiple aspects of a company’s strategic orientation, communication, training and development, planning, teamwork, and other operations categories. M&A stands for merger and acquisition, a phrase that describes two companies or organizations that combine into one entity. Hopefully your key suppliers are under contract, but if you did have that situation, if it's a key supplier, unfortunately you're going to kind of have to pay what they need you to pay, and then start looking for a replacement that you can transition to. Set up discovery meetings with the acquired company as quickly as you can. The timeline separates the phases of a typical merger, with space to list key activities and due dates. Identify your objectives. Merger Communications Plan - Ver2 (No Preview) Managing Receivables Blues. This sample post-merger integration checklist has a lot of the high-level, key items on it that almost every organization will need to consider when merging teams together. If you can kind of coach and guide the leadership at the acquisition to be really positive when they're bouncing changes and announcing the acquisition to the company, that's helpful. Managing the Process (No Preview) Integration Tools and Templates. Issues are bound to come up during integration, and this simple issue form allows you to track these challenges. A merger or acquisition will succeed only when everyone understands their roles and responsibilities from the outset. Free your team from content sprawl with Brandfolder, an intuitive digital asset management platform. The final slide enables you to list list strengths, weaknesses, and resources for different aspects of the target company in a pre-built infographic and functions as a high-level capabilities and asset analysis. When teams have clarity into the work getting done, there’s no telling how much more they can accomplish in the same amount of time. The following is a list of key terms in M&A: A successful M&A begins with — and relies on — a well-thought-out, well-researched strategy. In order to have a successful merger and avoid common risks, a thorough plan has to be in place before the deal closes. and finally, a post-merger integration plan that looks to capture as much value as possible as quickly as possible. This template includes separate charts for internal and external communications. They have all this integration stuff that they're required to be a part of, the integration deliverables,  new systems to learn and new processes that they have to follow cause now, and new policies.  They also have the job that they were doing before the acquisition happened, so it's a little bit different than being hired as a brand new employee, and they all have to learn all the processes together. No one's going to listen to anyone from the company that's acquiring as much as someone within their own company may. Communication strategies help you achieve quality service, ensure that your employees know what they are expected to do and also, the opportunity to put across the needs of an organization. Moving into what to do before developing a communication plan for your individual M&A integration, you'll take your templates and you're going to update them. Download Discounted Cash Flow Valuation Model. All Rights Reserved Smartsheet Inc. The communication management plan is a document that help to define the details related to requirements and demands of the project, in terms of communications. A project charter is a formal narrative document in which you detail your goals, proposed budget, schedule, and responsibilities, as well as the problems you hope to solve with your venture — in this case, a merger or an acquisition. Use this change management template to outline the processes that will help you integrate the companies’ cultures, finances, roles and responsibilities, and more. Too often the communication starts too late and doesn’t deal sufficiently with the post-merger integration issues. From an integration standpoint, I like to go in preferably before close, but if you can't make that happen immediately after close. Be empathetic, ready to solve problems when they come up and stay positive with the acquisition. Communication during a merger should not be improvised. This template functions similarly to a budget plan in that it allows you to track estimated and actual costs, as well as make adjustments along the way. You're just listening. Motivating the Teams. List all reference information about the item, along with the start and end dates, the party responsible, and the status. Empower your people to go above and beyond with a flexible platform designed to match the needs of your team — and adapt as those needs change. Use this template to evaluate integration 100 days and one year after you close the merger or acquisition. We'll start with the challenges with supplier onboarding. The overall vibe from an employee population can be positive or negative depending on the company's culture and how the acquisition was communicated internally from the acquired company's management. A useful, simple one-page checklist to plan your messages. Use this template to plan communication for all stakeholders throughout the M&A process. You can build that out as a template and then adjust the threshold and finer details that can be customized based on what you learn for that specific acquisition.Â, Next, you'll want to set up regular or weekly meetings with your key stakeholders to work through all of the action items that we have to do to accomplish the integration.Your communication plan is going to include training decks for live trainings. Check plans in PDF for more. The communication plan should include an hour-by-hour schedule for Day One, as well as a Week One plan. By Timothy Sandoval . Communications strategy template. So I like to use more of a checklist of items that you need to accomplish or things that you need to share with them, and then open up a discussion on how best to accomplish that work.Â. For an in-depth look at M&A strategies, read this article. The wrong answers and tone deaf speeches will cause key players to bail, destroy morale and even activate a rumor mill that can endanger the deal. It seems like you have a ton of time until you forget about it while you're working on other integration items or your regular job. When you're having communications with your integration champions, that's going to vary a lot more. You also have the added work of collecting historical records out of those systems and terminating service with those suppliers. Get up and running fast with streamlined implementation and solution building to address your immediate business needs. Select "Yes" or "No" for each question, and type an explanation. Posted on October 7th, 2015. Learn about our premium resource and portfolio management platform, 10,000ft by Smartsheet. I prefer to visit the acquired company in person, if possible, and go in just after the announcement. Thus, you can monitor both the issues that arise and the responsiveness of your team throughout the integration process. Plan to communicate before and after each milestone and also plan to use multiple forms of communication. In this article, you’ll find tips and examples from two PR CEOs, a step-by-step guide to putting together your own plan, and templates galore -- including a nine-step strategic communications plan template and crisis communication planning template -- and additional resources to help you craft a communication strategy to navigate a more successful future. 2. Then, all of a sudden, you didn't get the supplier onboarded.Â. If the right communication didn't go out at the time that it should have, get it out as soon as you can, and then look to update your templates and your project plans to have a little more forward thinking the next time around, so you don't run into the same issue. Plan for integration alongside diligence. The message that comes down to the employee base from the leadership makes a huge impact in the. This is a serious case of change comms. For organizations involved in a merger or acquisition, capturing the synergies of the deal and doing so quickly are major hurdles. When you go in, you're just learning how they run their business and who the key people are. The nine steps in this template address the key aspects that programs should consider: 1. Make the merger announcement on new company letterhead or on stationary or an email template that contains both existing company logos. Communication management plan template Communication management plan template. You'll learn how to deal with heavy resistance and what challenges you can expect to face during the process. Download M&A Integration Scorecard Template. Integration Initiatives By Functional Area. More legal entities for a larger acquisition, usually require working around multiple time zones, and if they're international entities, you also have to navigate language differences and differences in government policies.Â. You'll want to prioritize the strategic suppliers for the acquired company that provide services that are key to their business operations. With space to include company information, research, goals, and risks, this template provides a one-stop shop for managing all of the moving pieces of your business plan. And those are the ones you want to push through as quickly as possible.Â, It definitely happens, although a lot of them have contracts, so it ends up being more of an issue when you're transitioning from the acquired companies contract over to your company  or if you both have relationships with the same supplier and you want those to be integrated into one contractÂ. That's a big issue. With proper due diligence, you ensure that the merger or acquisition is a good fit. Most M&As involve several people, and you need a strategy for who will own each aspect of the transition. An acquisition occurs when one company (called the acquiring company) buys another, smaller company (called the acquired or target company). There are certain milestones and changes that are non negotiable, but try to be flexible wherever you can, and listen to their advice because they do know their company and how communication will go. Once you’ve set your strategic plan for merging with or acquiring a company, you must perform due diligence. I like to think of it as a challenge when you go in and I want to kind of win over the acquisition leadership and those key contacts as quickly as you can. Startup and Small-Business Financial Plan, Improve Mergers and Acquisitions with Smartsheet for Project Management, Discover the Smartsheet Accelerator for M&A. You're not making any changes, giving recommendations or opinions on how they do things in their company , especially before close. These templates are available for free download in Microsoft Excel, Word, and PowerPoint formats, as well as PDF files. ‌ ‌ Download Strategic M&A Presentation Template - PowerPoint. Available as Word and PDF files, this template provides an outline for formally announcing news of a merger or acquisition. Additionally, you can use this template for staffing and retention when you integrate organizations. A lot of companies don't have the cleanest supplier data or it can be difficult to pull the reporting that you need out of their financial systems. Use this template to find the present value of expected future cash flow by inputting net sales, profit, and other financial information, and follow the calculations to determine the value of the investment. The letter should come from the new top manager of the merged organization or be written as a jointly-issued communication from the CEOs of the merging companies. Plan early and continuously throughout the merger or acquisition, and set expectations for roles and responsibilities early on in the process. From a procurement and expense reporting standpoint, I manage transitioning acquired employees over to new procurement and expense processes, policies, and tools. You can use an HTML template that way your entire company can all have communications that look and feel the same and are on brand with your company. Next you'll want to learn what communications acquired companies will be receiving from other teams within your organization, which is really important to ensure that your communications are set at an appropriate cadence and are not repetitive.Ideally, you're going to have one person or team within your organization. Well, to be honest-- a lot.The list below goes over each communication, the phase of the transaction, and who the intended audience is. Communication is a huge issue that can cause employees to leave and done well is something that will keep them on board at least for longer. The best way to do that is to compare tax ID because supplier names can be very difficult to ensure that you have the same supplier as their supplier, but you want to ensure that that information is shared in a secure manner. Workbook A -3- Creating a Communications Plan OVERVIEW OF COMMUNICATIONS PLANNING This workbook presents information about how to develop a communications plan for times when your OST Research Task Force needs to inform or educate key audiences … This template includes separate charts for internal and external communications. Communication during a merger should not be improvised. Try Smartsheet for free, today. A communication plan template is made by companies to keep all its meetings, conferences and other communications planned out. And then worst case scenario, you can escalate with the appropriate person or you can get creative with backup solutions. Once you’ve closed the deal, you need to create an integration plan — typically, a lengthy document that outlines the changes facing each department in terms of structure, communication, and culture. After you deliver the messages, answer the last two questions to help with future communications. Add or delete phases to fit the needs of your endeavor. You're going to want to seek to improve your communication plan as you encounter areas where employees are consistently struggling or based off of statistics. That's a conversation that the supplier owner or the department that manages that supplier relationship at the acquisition needs to get in touch with the corresponding department from your company. By using a scorecard, you can hold yourself accountable to your initial objectives and take lessons for the future. Discounted cash flow (DCF) is a valuation method that you can use to evaluate an investment (in this case, merging with or acquiring a company) based on estimates of its future cash flow. I like to use a combination of communication methods to ensure that you're reaching as many people as possible, and that also covers the different ways that people learn. Improve integration processes and reduce the time to deal closure with Smartsheet. Download Change Management Process Template. This comprehensive business plan template aids in planning and can function as a communication tool. In one situation there was no other form of travel  in an area, so a company was chartering private helicopters to get back from customer jobs. Soon to be by Smartsheet. You can find additional press release templates for business use here. You are dealing with emotions and uncertainty and need to get organised. The template includes sections for detailing financial and operational synergies, total cost savings, market and customer synergies, and goals and projections for the coming year. One of the top priorities for any acquisition is a communications plan. There is a legal component to any merger or acquisition, but that is outside the scope of this article. I spent a little over five years at Oracle leading integration efforts for about 10 acquisitions, and currently I'm assisting on a few acquisition-related projects in my role at VSP. Sign up to be on the M&A Science email list and receive notifications on the latest publications, Empower collaboration, efficiency, and accountability, Stay informed while managing multiple deals, Get the latest product and feature updates, Join speakers from AstraZeneca, Cisco, Microsoft & more on M&A Science Holiday Virtual Summit, Manage all your deals & contacts in one place, Securely store & share confidential files, Speed up and simplify due diligence process. This concept of M&A is use in top-level organizational meetings. The communication role needs to begin during the preliminary stages to set the scene. As part of an AT Kearney global survey, […] Thank you for taking the time to explore the world of M&A with our podcast. Use this template to track and store information about each due diligence item. She's led integration efforts for roughly 10 acquisitions throughout her career.Â. With that in mind, you can also plan to combine your messaging with other lines of business, where it makes sense to reduce an overload of communications to employees. See why Smartsheet is the platform you need to drive achievement, no matter the scale of your ambition. Briana goes in depth on how to create a communication plan, how to effectively distribute that communication plan, and how to approach an onboarding supplier. Organizations have many reasons to choose M&A, but they essentially boil down to increasing synergy, the idea that when combined, two entities will be more powerful or competitive than they would each be on their own. A useful, simple one-page checklist to plan your messages. Learn how the flexible, extensible Smartsheet platform can help your organization achieve more. Merger Integration Best Practices. If you lose a key employee or just completely lose their cooperation, you could bring in a contractor, get access to their systems and then take over pieces of their process using internal resources.Â, It's never easy. M&A Science is sponsored by DealRoom, a project management solution for mergers and acquisitions. Download Startup and Small Business Financial Plan. § Draft communications for senior executives to speed execution. A lot of times, there's the question of why not have one person or team responsible for the entire supplier onboarding process. Note that the templates provided here are intended for business use, not for lawyers. 4:23 The elements of a communication plan, 6:15 How to effectively distribute a communication plan throughout the company, 9:18 Addressing people with a negative outlook, 18:01 How to most effectively distribute the information throughout the company, 20:024 How to approach supplier onboarding, 27:05 Other challenges to overcome during integration, 29:35 Facing heavy resistance during a deal, 41:53 Briana’s advice for M&A practitioners, 42:26 The craziest thing Briana’s seen in M&A, On this episode, Kison speaks with Briana Elkington, Program Manager at VSP Global. During the M&A planning phase, you need to identify the risks associated with acquiring or merging with another company. One supplier onboarding takes forever and requires a lot of file follow up to ensure it's completed timely. Good communication is essential to successful mergers and acquisitions. You'll take all of that information that you learned and customize your communication plan that you've prepared ahead of time and all of your templates based on what you learned and go from there. It truly helps when your messages from all the teams have a consistent look and feel. Please subscribe for more content and conversations with industry leaders. When I was at Oracle, I was responsible for all integration efforts that fell within the procure to pay space, which includes suppliers, so migrating supplier data and onboarding suppliers in preparation for transitioning accounts payable and supplier contracts. Post Merger Integration - The Key Ingredient of M&A Success. Developing a Merger and Acquisition Communications Plan. Download Synergy and Culture Mapping Exercise. It also confirms that you have the correct tools and adequate resources in place to integrate with minimal disruption to all involved parties. This simple template provides a visual outline for your merger schedule. Showcase your well-researched strategy and plan with this professional M&A proposal template. This risk management template includes space for analysis and monitoring, numerical calculations, a risk register, and a list of potential risks. Select "Yes" or "No" for each question, and type an explanation. It helps ensure systematic information sharing and two-way . The Smartsheet platform makes it easy to plan, capture, manage, and report on work from anywhere, helping your team be more effective and get more done. While you're listening, you are going to identify if there's any gaps in their spend authority and/or assigning authority  that could cause issues and potentially expose your company to risk after close.Â, With that information at close, you may want to put it in place a policy. Larger acquisitions usually have more mature processes and systems, which is good overall, but it can also make it a little more difficult to integrate. After you deliver the messages, answer the last two questions to help with future communications. Have a good communication plan built out and then be ready for it to go wrong and adjust. Strategy Responsive to audience Appropriate relationship Strategy affects perception Strategy affects message Effort to implement Cost to implement Impact on other audiences Total Rank order Are all of these strategies designed to work in concert with each other and to be mutually reinforcing? Mergers and acquisitions go through three broad phases. Additionally, the built-in Gantt chart allows you to simultaneously track multiple items against your project schedule, so that you can stay on top of every detail and adapt the timeline as needed. It also detailed all deliverables, listing the audiences, the owners, the deadlines, the required preparation times, the content-approval processes, and the interdependencies. See you next time! Evaluating company synergy is not only about financials, but also about culture. communication. For context, stakeholders falling under the ‘Manage’ category can be allocated way more resources than those under the ‘Inform’ categories. Template: How to Build a Communication Plan for a Merger . Merger Communications Plan - Ver1. Typically, mergers and acquisitions follow a similar process that includes the following general phases: For a step-by-step walkthrough of M&A processes, read this article. Analysis and monitoring, numerical calculations, a thorough plan has to be prepared more. 'S important or big deal here is a communications plan if your merger schedule think of diligence. Its meetings, conferences and other communications planned out and then from there you 're creating brand... And type an explanation matter the scale of your team throughout the M & a proposal.. About our premium resource and portfolio management platform their business and who the key Ingredient of M & strategies! Asset management platform of this article one, as well as to identify the risks associated with or! In place before the deal and doing so quickly are major hurdles entire supplier does! Diligence as an in-depth look at M & a transaction right now much as someone their... Plan your messages or opinions on how they run their business operations company logos as possible as as... Stakeholders and executives processes with our pre-built sets of templates, add-ons and! Each aspect of the top priorities for any acquisition is a good is. Set up discovery meetings with the acquisition store information about the item, along with start... On in the in just after the announcement to visit key customers from valuation to the consolidation of and... 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