Many investment banks rely on internal developers and technologists to connect their internal data and system ecosystems, and help teams of bankers and individual dealmakers better communicate using technology. Without these vital systemwide connections and ecosystem stewards, banks are left with disorganized data and mismanaged relationships, leading to poor deal execution and frustrated, burnt-out bankers.
So how exactly can technologists ensure their investment bank is connected efficiently and optimally? We’ll explore three tips for connecting your investment bank’s technology stack.
Automate Data Entry
Rather than relying on your team of busy transaction professionals for manual data entry and augmentation, you can automate your data input. An automated data input process saves bankers time, enhances firm efficiency, and integrates data into a firm’s technology stack. It also lets your firm reduce the number of systems required to optimize and leverage its data. By utilizing modern API integrations, users can manipulate a single data point in one system and automatically update it in all other platforms and reports. This unifies the data and allows for greater knowledge sharing with appropriate team members.
DealCloud’s integration with Microsoft Outlook lets users securely sync information and data directly from their email inboxes into the DealCloud platform. You can create records for new deals, contacts, and companies within the firm’s CRM tool from the very first email exchange. DealCloud then syncs and attaches files and metadata from conversations to the newly created records. The software can also immediately send status updates on existing or active deals to your inbox, allowing relevant parties to have the most recent information readily available at all times.
Firms can also automatically calculate relationship strength data using technology purpose-built for investment bankers. DealCloud’s relationship intelligence layer, for example, passively harvests metadata from Microsoft Exchange emails and events to identify who knows whom. It also establishes a score for that relationship based on the volume, recency, and type of engagement. By automating these types of insights, bankers can spend more time heads-down on deals.
Connect Your Teams and Microsoft Teams
Rather than spreading your organization’s data across different systems, choose a purpose-built solution that serves every team within your company. If your sponsor coverage team, for example, uses a platform that serves only their needs, members outside of that team won’t be able to efficiently receive necessary updates. Without firmwide unity and connectivity, teams become misaligned, and the company suffers overall.
By choosing a solution like DealCloud — built with the ecosystem of capital markets professionals in mind — your firm can build and maintain critical firmwide transparency. Housing your data within a system that serves as single source of truth will help streamline both your team’s work and the firm’s data. You can also ensure that relevant data is available only to appropriate individuals thanks to DealCloud’s permissions and user groups feature.
Internal chat is one often-overlooked system that firms should integrate into their technology ecosystems. The DealCloud platform gained expanded chat and filesharing capabilities when Intapp acquired Repstor, creator of Microsoft 365-based enterprise content management and team collaboration tools. These capabilities help bankers communicate with one another, share information more seamlessly, and boost productivity.
Connecting bankers to one another and to institutional knowledge enhances how transaction professionals leverage Microsoft Teams, Microsoft SharePoint, and Microsoft Outlook. This approach also helps firms get the most out of their Microsoft 365 investments. For this reason, technologists are wise to incorporate cross-team collaboration tools in their technology ecosystem decision-making.
In addition to providing investment banks with optimal data solutions, technologists must protect data and the firm from breaches in security and compliance. Managing risk across multiple systems is time-consuming and inefficient. Conversely, building a single source of truth lets technologists manage the security of just one system, provides better visibility into the firm’s data, and allows better protection of that data.
DealCloud’s conflicts management solution lets technologists audit themselves and check for conflicts of interest within the firm for any transaction. Dealmakers, bankers, and internal compliance teams can do this frequently to ensure the firm follows regulatory rules and avoids potential conflicts of interest.
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