Corporate development teams, particularly in larger companies, are increasingly embracing technology platforms and applications, including virtual data rooms (VDRs), to manage their mounting workload, according to a survey conducted by Datasite, a leading cloud-based technology provider for the M&A industry.
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Today’s corporate development teams need tools to help them communicate and collaborate easily and effectively with key stakeholders.
Corporate development teams are open to adopting project management software and VDRs to manage workflows, particularly as their company gets bigger, according to responses from more than 600 corporate professionals surveyed across the Americas, Europe, Middle East and Africa (EMEA), and Asia Pacific (APAC), who work on M&A transactions from global corporate development, finance, legal, and post-merger integration. Respondents at companies valued at over $1 billion were 11% more likely to describe their use of VDRs as continuous compared to smaller companies.
“Today’s corporate development teams act as financial-transaction-management hubs within an organization, working with multiple internal and external stakeholders to shepherd and complete projects, which can include activities beyond M&A, such as financing, fundraising, communications and licensing,” said Rusty Wiley, CEO of Datasite. “This means they need tools to help them communicate and collaborate easily and effectively with key stakeholders.”
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