How smoothly business integration goes after a merger or acquisition can determine the fate of your newly-minted venture. There will undoubtedly be a few glitches as things unfold with your M&一个集成, but if you have planned well in advance you can step right into the future on Day One, 知道你有一个可靠的执行计划.

Laying the groundwork for a successful merger integration starts well before the transaction closes, with a strategic vision that dictates the preliminary transition plan. 超过50%的M&集成工作失败  because the objectives and deal strategy articulation do not meet expectations.

That can be avoided if there is 100% buy-in from the new owner and leadership team 关于购买的战略理由, 谁将致力于这项工作, 这将如何实施, 以及如何衡量成功. 与人合作 M&顾问团队贯穿整个交易过程 可以简化这个过程.

 前100天至关重要

驱动业务集成过程的三个要素:

1. How do you plan to integrate (full integration, partial integration, or best-of-breed hybrid)?
2. How much time are you dedicating to integration planning?  你什么时候出发??  最后，你需要多少时间来积分? 
3. What is your value creation plan and timeline for the new combined entity?

根据规模的不同，集成的时间可能会有很大的不同, 复杂性, 交易类型, 支持人数, 以及积分的类型. 有时是小额交易, it makes the most sense and is easier for everyone and everything to come together on Day One. 这个过程需要时间和奉献精神, along with a structured change management plan ready to go before close. 通常, 然而, 这个过程是渐进的, 在某些情况下, the plan is to continue running things separately for a while as you figure out the details, 然后开始整合流程.

成功的米&一个集成 plays out in four phases (these can overlap somewhat).

1. 在首日交易前转让所有权

保持流程和人员按部就班是至关重要的. Before your deal closes, you must have in place plans that describe how you will handle:

• 所有权、领导权和报告的转换
• Financial and operational capabilities and reporting (select aspects) 
• 工资和福利

2. 稳定

稳定 is paramount because it is the nuances that can kill the value in a deal. 有这么多活动部件, the focus when responsibilities transfer to the new owner has to be on value preservation. That includes melding business operations, culture, and learning about one another.

3. 价值的实现

现在您正在推动集成计划的执行. Works should follow your strategic vision and be guided by the metrics you previously identified.

4. 价值创造

你将如何超越成本协同效应等. 扩大价值? 你的目标可能是增加你的销售队伍, 拓宽你的产品线, or reorganize back-end office operations into shared services to boost efficiencies.

M&咨询优势 

An M&顾问小组 brings specific expertise and experience to drive integration and create the greatest value for the new entity. For small to midsize companies, advisors typically provide specific expertise on:

• 集成过程和优先级
• 财务模型和跟踪
• 流程转换和/或优化 
• 财务和业务报告 
• 操作/变更管理

In some circumstances it is important to bring in subject matter experts to support the process – HR benefits comparison or select revenue-generating technology review are typical examples of niche support. 

你的米&A team should create an integration management office that oversees both integration planning and execution. 这将集中在关键领域(如.g.、财务、运营、人力资源、技术等.), with a team member assigned as a counterpart to each key decision-maker to ensure accountability and follow-through.  

每种情况都是独一无二的, but it is extremely important to ensure the strategic vision is clear and then prioritize the “must-haves” to drive the first stage of the integration. 在此基础上分层, there must be a clear articulation of the technology plan and roadmap of how the systems will transition and impacts related to the timing or to the transition itself.  

• How to transition payroll and benefits administration (working with vendors as needed)
• Define what systems must be transitioned immediately and which ones need to run in parallel
• 接收订单的财务流程的过渡, 支付供应商, 并按要求报告(订单兑现), 促使付款, 记录到报告, 等.)

• Identify the most valuable metrics to assess progress and success
• 为员工建立反馈机制, 客户, 或向供应商询问问题或查找信息

一个好的M&A team helps steer the process and communicate what is going on, in addition to advising.

变更管理与沟通

Nothing happens within any company that is not driven by humans. You have to understand each company’s culture and communication styles. You have to understand each other’s processes and ways of conducting business. 你必须向员工阐明未来的愿景. 有时候，这很难让人接受, especially if corporate cultures are very different between the two companies or employees are not properly informed.

Without deliberate change management, confusion and chaos can ensue. If employee animosity or resistance is detected during due diligence, it 能在交易开始前扼杀它吗. If undetected or unaddressed, negativity or non-support can derail the transition.

Internal communication about the deal and future expectations must start well ahead of time (as appropriate) to keep rumors and fears from circulating among employees. 对于过渡本身, the plan must include communication about what processes will change and how. It should also include information about required training, 对员工来说，持续的沟通是什么样子的, 和一个地方或一个人去寻找答案. 透明度至关重要.

The best way to ensure cooperation and support is to focus on commonalities. 在尽职调查期间启动这个程序, you can get a feel for the leadership teams as well as the down-line employees. Then you can create a change management plan that helps ensure the operational side of the M&集成将是成功的.