• Financial Services
  • Private capital
  • Intapp DealCloud

Plan more productive private equity business trips

It’s imperative for fundraising, business development, and deal teams to have technology that supports them in their work, including during business trips. According to Business Travel News, more than 80% of business travelers say that in-person touchpoints maximize company success, help enrich co-worker and client relationships, and enhance team morale. Another survey revealed that 9 out of 10 dealmakers believe their travel contributes to the firm’s growth, and that they prefer to close deals face-to-face.

Learn how tools like Intapp DealCloud can help your professionals make the most out of their business trips and seize more dealmaking opportunities.

Create custom dashboards with frequent travel in mind

For commercial real estate (CRE) firms, travel is simply part of the job. Meeting clients, visiting assets, and kicking the tires are all necessary for professionals working in this property-minded market of the financial services industry. To improve organization and efficiency for on-the-road dealmaking, many CRE firms adopt customizable pipeline management systems like DealCloud.

DealCloud lets firms create tailored dashboards where dealmakers can filter and view the properties most relevant to them — even when they’re not in the office. Sterling Organization, for example, utilized DealCloud to create more than 130 customized dashboards, allowing for more granular views of complex real estate transactions.

A screenshot of a real estate investments dashboard in DealCloud
Image source: DealCloud.com (not representative of Sterling Organization)

“DealCloud allows us to be connected,” said Paola Yawney, Director of Business Development at Balfour Pacific Capital. “It gives us a lot of connectivity so that people can draw on that same bucket of knowledge.”

Centralize and democratize workflow and relationship data

Dealmakers on the road may have difficulty organizing information or receiving updates when they’re out of office. That’s why business travelers in the private equity field need a purpose-built customer relationship management (CRM) system that goes wherever they go. Without a customizable pipeline management tool like DealCloud, dealmakers risk missing crucial deal developments and essential client and colleague updates.

“Being by yourself without the rest of the team could [pose] a challenge,” said Brittney Upman, Director of Business Development at ShoreView Industries. “But leveraging technology and being able to stay connected nowadays has never been easier, especially with DealCloud.”

DealCloud lets you view your teams’ recent updates and activities so you don’t miss out on key information while traveling. If, for example, you were headed to an off-site meeting and needed real-time relationship, firmographic, or asset and property information, you could simply search for that data within DealCloud rather than contact your busy analysts.

“If I’m going into a meeting and I need to see which partners have [previously] spoken with [the clients], I can simply log into DealCloud and see what the latest activity looks like,” says Upman. The instant visibility gives her the key background information she needs from her teammates, “even though I’m not at the water cooler with the rest of the team in Minneapolis.”

DealCloud’s web app configurations carry straight over to the mobile app, letting your professionals draw on and contribute to the team’s shared knowledge. For example, team members can scan business cards directly into the CRM and instantly integrate the information into their relationship management network. What used to be a tedious administrative burden is now a low-lift task.

There’s another reason to centralize and democratize deal and relationship information: your firm’s reputation.

“Leveraging the technology and being able to stay connected … is really important for us because, when you go to these meetings, you look like you’re a connected firm,” said Upman. “You can say, ‘The last time you spoke with Jeff…,’ or ‘I understand you connected with Peter over dinner the other day.’ It lets them know that [your professionals] actually do act as one: When you speak with Brittany, you’re also speaking with Tom. We share that information every day.”

Reduce your risk of damaging security breaches

Information security is another critical element of on-the-road dealmaking. When traveling, financial services industry professionals are attacked more often than travelers in other segments, and executives in these firms are six times more likely to be compromised than leaders in other industries.

Leverage your technology to reduce your risk of security breaches that could compromise your clients, your firm, and, of course, your deals. Follow these tips to further strengthen your data security:

  • Store all deal and relationship data in a cloud-hosted system like DealCloud rather than on your on your laptop, as computers can be stolen, lost, or damaged
  • Install all system and program updates on your mobile device and laptop operating systems before your trip
  • Use your firm’s secure VPN if you need to connect to an open Wi-Fi network
  • Apply a privacy screen protector to both your mobile device and laptop
  • Run antivirus scans regularly throughout your trip
  • Avoid using shared or unfamiliar USBs or chargers

Be sure you’re asking your technology providers the right questions so you can be confident that your firm’s vital information is stored in the most secure manner possible.

Start enjoying private equity business trips again

In-person relationships are the number-one reason that dealmakers travel. By giving your team members the right tools to plan and execute their trips effectively, they can keep their focus on developing and maintaining professional connections.

Technology is here to help. With the right tools — and proper, consistent usage — your team will look forward to traveling for business once again.

Ready to explore pipeline management technology built with your traveling dealmakers in mind? Schedule a demo of Intapp DealCloud.