Transaction processes require more than just legal and financial expertise. They demand structure, foresight, and effective collaboration between all parties involved. By preparing early and aligning expectations, parties can reduce risk, increase efficiency, and ensure smoother deal execution.
Below, we outline five key areas of focus for ensuring transaction readiness this autumn: Efficiency, Predictability, Communication, Knowledge, and Coordination.
Efficiency – Laying the Groundwork for a Smooth Process
To avoid delays, it is crucial to establish clear roles and tools early in the process. Setting up a virtual data room (VDR) from the beginning, defining responsibilities, and using standardized templates can save time and prevent confusion later on.
Key actions:
- Define roles for client and team
- Set up a virtual data room early
- Use standardized templates
Predictability – Avoiding Surprises Along the Way
Uncertainty can derail even the most well-structured transactions. Clearly defining the transaction objectives and timeline helps everyone stay aligned. Preparing clients for typical due diligence “red flags” and sharing a documentation delivery plan ahead of milestones increases transparency and keeps the process on track.
Key actions:
- Clarify transaction objectives and timeline
- Prepare the client for common “red flags” typically identified during due diligence
- Share a delivery plan for documentation that must be ready before key transaction milestones
Communication – Setting Expectations Early
Miscommunication is one of the most common causes of inefficiency in transactions. Agreeing on communication channels, availability, response times, and reporting formats ensures all parties remain aligned. A simple contact list for the entire team also streamlines collaboration.
Key actions:
- Define communication channels, availability, and response times
- Create a contact list for the team (WGL)
- Agree on reporting formats
Knowledge – Get to know the entire business
Advisors should go beyond financials and legal matters to truly understand the client’s operations, strategy, and industry context. This broader perspective builds trust and ensures that advice reflects both the company’s needs and its long-term value.
Key actions:
- Incorporate industry perspective into the client’s situation
- Review the client’s strategy, products, and operations
- Understand the values of the client’s business beyond their legal/financial needs
Coordination – Ensure consistency in advice
Large transactions often involve advisors from multiple disciplines. Regular status meetings and cross-team coordination help maintain a unified strategy and consistent communication with the client.
Key actions:
- Coordinate the advisory team across disciplines
- Establish regular status meetings
