Professional services firms are leaning more heavily on technology to help streamline their business operations and increase client satisfaction. Intapp DealCloud, a specialized platform designed for dealmakers in the private capital markets industry, offers a comprehensive solution for managing deals, relationships, and workflows. The platform is an industry leader in these competitive markets due to continuous innovation by Intapp’s product team, its ease of use, and being purpose-built to serve professional services firms.
Adopting Intapp DealCloud can be a monumental task. The platform offers endless customization and configuration options. Focusing on critical items leading to successful adoption can be challenging with such a wide range of variables.
At Monarch, we’ve completed 1,800+ projects on the Intapp DealCloud platform. These include integrations, implementations, post-go-live support, rebuilds and revamps, and data migrations. Since 2018, we’ve developed a core competency in serving professional services firms on Intapp DealCloud by being do-ers.
We are excited to begin sharing these learnings with the competitive markets we serve – starting with the five key indicators for successful Intapp DealCloud adoption below:
- Leadership Buy-In: Before embarking on any technology adoption journey, it’s essential to secure buy-in from key stakeholders and leadership within your organization. We’ve seen firms decide to purchase Intapp DealCloud at the top, but the vision for the platform can get lost on its way to the Analyst level. Having an executive sponsor of projects goes a long way in signaling importance to the organization. While extreme, some firms say, “If it isn’t in DealCloud, it doesn’t exist.” Demonstrating such a solid commitment to your team is half the battle.
- Proper Training: At the leadership level, platforms like Intapp DealCloud should offer valuable insights into the business’s operations. But, if the broader team is not using the platform for the small stuff, those insights are lost to cluttered inboxes and disparate Excel sheets. Intapp DealCloud should be a time saver, not a time waster. Understanding its full functionality is crucial to adoption. For example, the target builder’s ability to generate counterparty/target lists for investment banks can save an analyst hours. Everyone should find great uses of the platform, from MD to intern, and ensure they know how to use it.
- Real-Time Reporting: Intapp DealCloud offers robust reporting capabilities, allowing users to generate insights and track a wide range of key metrics related to deals, relationships, and pipeline activities. Anyone at the firm can access this centralized reporting anytime, from anywhere. Data-sharing activities outside of the platform are genuine barriers to adoption. This includes taking screenshots and emailing them to those who don’t have access, running reports and manually editing them each week to fit a specific format. Even maintaining legacy spreadsheets can hamper adoption. Intapp DealCloud is your firm’s source of truth. Use it as such – automate your reporting and get creative with dashboards so anyone can quickly log in and find what they need.
- Assign a Platform Owner: Working with a platform owner, whether internally or externally, who has a deep understanding of the product is essential for driving adoption. The platform owner should champion Intapp DealCloud within the organization, advocating for its use and addressing any challenges that arise. They should also look at usage statistics, identify pain points, and stay up to date with new features. Intapp DealCloud expertise takes a long time to develop – we know from experience. We’re happy to help your firm’s platform owner as needed, or if you’d prefer to outsource it, we can do that, too.
- Relationship Management: Intapp DealCloud is much more than a CRM – but it is also a CRM. Encourage users to leverage the platform’s relationship management tools and communication functionalities to nurture and expand their networks. Keep up with prospective clients through AI-driven contact scoring, automated notifications, and task creation. We can make Intapp DealCloud do much more than CRM functionality but don’t forget how valuable a tool a properly implemented CRM can be.
Adopting Intapp DealCloud as part of your business model requires a strategic approach encompassing all the key factors above. These indicators are a great sign that your firm is on track to unlock Intapp DealCloud’s full potential and drive success in dealmaking, relationship management, and other crucial business operations.
