How to balance the day-to-day business with PMI in a smaller company?
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The balance between ‘business as usual’ and post-merger integration is clearly essential for the success of the combined business. As the financial leader of a larger company with significant resources, this balance would seem much more manageable than for the financial leader of a smaller company. What are some recommendations for ensuring this balance for the financial leader of the smaller company?
Hi Peter – I am not in finance, but I do have some thoughts on the subject…While larger companies may have more resources to allocate toward integration efforts, smaller companies can still achieve a successful outcome by having a plan that aligns to the M&A strategy, having flawless execution, and focusing on key areas. Having dedicated functional resources with solid project management skills would likely yield fruitful effects.
I believe it is essential to identify the synergies the acquiring company aims to achieve and the true motivations behind the transaction. In my view, it is important to have clarity on the functional areas of both companies and to establish key personnel for the project. I would also suggest considering the engagement of specialized consultancy services, allowing executives to maintain focus on the core business while consultants manage the integration project.
Wondering if hiring an outside consultant(s) to fill gaps in expertise and resource capacity could be an option to help ensure that the core team stays focused on critical operations while the consultant(s) handle specialized tasks.
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