Experienced Virtual Chief Financial Officers (VCFOs) can help you get as much value out of your business deals and mergers as possible. One important factor in determining how successful a merger will be is the quality of your post-deal integration plan.
Post-deal integration is the complex process by which two businesses combine and rearrange their structures to ensure efficiency and synergy. This process can be complicated, and often involves multiple parties, so creating a comprehensive plan for integration is a must.
If you are considering a merger or just looking to improve the financial aspects of your business, contact Murray & Kirchner CPA, LLC, to get in touch with the most reliable and capable virtual chief financial officers in McAllen, Texas.
Why Do I Need a Post-Deal Integration Plan?
A good integration plan can mean the difference between a successful merger and a disorganized mess.
Business mergers have so many working parts, if you don’t plan ahead, you can get swept away in the process. Your business and employees need to know exactly what is happening before day one, so you can’t wait until after the fact to decide exactly how your business is going to run.
During a merger, the integration of both companies’ employees can be tense. Planning ahead can help this part go smoothly and can help ensure a good working environment moving forward.
Planning ahead can also help you make sure that each part of the integration is properly executed. Details like IT compatibility, conflicts of responsibility, and turnover can be left out if your planning isn’t thorough and well-conceived.
Value is made during the merger process, but that value can be lost if you don’t have a plan in place.
What Makes a Good Integration Plan?
A good integration plan meets nine different requirements:
- Detail – Does your guide have enough details to allow ease of execution?
- Breadth – Does your plan cover all functions within your organization?
- Precision – Is your plan clear and concise in its descriptions of integration tasks?
- Centralization – Is your plan handled entirely by one central team?
- Roles – Does your plan present clear roles and responsibilities for each activity?
- Involvement – Are all relevant personnel involved in the integration process?
- Organization – Is your plan cohesive and accessible?
- Monitoring – Is there a structure in place to ensure on-demand reporting on integration activities?
- Accessibility – Every part of your plan should be easy to use and meet everyone’s needs.
Your plan needs to outline your company’s strategy moving forward, as well as how the merger fits into that future. Closely examining the details of both companies to make sure their capabilities are compatible before you consider integration is essential. A detailed analysis will help your employees feel confident in the integration process reducing the likelihood of high attrition. Thorough planning before and after the merger will ensure that your business captures as much value as possible.
Murray & Kirchner CPA, LLC, Your McAllen Virtual Chief Financial Officers
Running a business isn’t easy, but the assistance of highly experienced accounting professionals can make a big difference. VCFO services manage all or as much accounting and financial management as you need without the high cost of a full-time controller.
Our team can handle anything from payroll to full-scale mergers, and we look forward to meeting all of your accounting needs.