Strengthen client relationships with intelligent advisory

Greg O’Reilly, Head of Customer Success and Services, thedocyard

Strengthen client relationships with intelligent advisory

Relationships have always been critical to how dealmakers find work and grow their business. But let’s be honest, the most important factor is whether you are efficiently able to get their deal across the line within the timeframe set out. By using thedocyard, you can strengthen relationships by showing clients that you’re not just doing the work – you’re working smarter. Here’s how:

1. Creative not complacent

You’ll find it easier to convince your client that you’re looking out for their best interests and to differentiate from competitors by always looking for smarter ways to get work done on their behalf. Rather than simply doing the work, clients will appreciate it if you stay apprised of the best way to go about it too.

2. Improve trust by making it clear that the work is getting done

Clients want to feel in control and know that you’re on top of their deal. With thedocyard you give the client access to the information they need, when they need it. Clients get accurate answers faster. They can even help themselves, with self-serve reporting at the click of a button.

3. Stop driving clients crazy

Clients may well have become used to the mountain of emails involved in a typical transaction, but you can be sure they don’t enjoy it any more than your team does.

Our customers report that using thedocyard’s end-to-end deal management platform generally results in a 30-50 per cent reduction in emails between parties. There’s less need for email thanks to personalised checklists, notifications, and the ability to assign tasks.
You’ll do both of you a favour and strengthen the partnership in the process by reducing the number of tedious admin tasks your client has to undertake.

4. Spend more time advising, not chasing your tail

Take advantage of technology and give yourself more time to invest in your client relationship to become a truly trusted advisor. With less time stuck in the weeds, sifting through and reviewing endless emails which may or may not be relevant to you, you can spend more time advising your client on what their next best move might be.

5. Spot issues before they get out of hand

Thanks to the visibility of the full deal lifecycle you get from thedocyard, you can catch potential red flags before they blow up into bigger issues. Is the preferred buyer not fully engaged in the deal preparation phase? You’ll have data to back this up. You can intervene early on behalf of your client to figure out where additional support might be needed to get them more engaged and ensure the deal gets across the line.

With these insights in hand, you can gain your clients’ trust with your initiative and intuition.

6. Take the security of their data as seriously as they do

Finely-grained permissions tools and a full audit trail of who has accessed what and when throughout the entire lifecycle of the deal – not just within the data room – will give your client a heightened sense of reassurance. Rather than hoping for the best, it becomes clear to all that you are doing your utmost to look after their most sensitive information throughout the process. You’ll also be ready to do your bit if any questions get asked further down the line, with an accessible audit trail for the entire deal available in three months, one year or six years.

7. Streamline costs

You can expect the deal to flow more smoothly with project management and collaboration tools designed by deal makers, for deal makers, and analytics to help you address bottlenecks. The result is more successful outcomes, faster, putting you in a much better position to strengthen your client relationship going forward and win more work.

8. Get ready for dealtech 3.0

This is just the start. Dealtech 3.0 is coming and promises even more ways to add more value in your relationship with your client. Imagine a real time data feed of all relevant information relative to your transaction. Buying a shoe factory in Vietnam? The data feed picks up murmurs that the Ministry of Shoes might be changing its rules around foreign ownership. You’re among the first to realise.

Planning to pay $700 million for your acquisition? Imagine if the tech could tell you that based on the documentation and data in the system, from your transaction and thousands of others, it suggests your client is probably overpaying. Deal tech 3.0 a significantly more intelligent experience in the tech and that goes specifically to insights, analytics, and real-time benchmarking.

With advances in technology come new ways to deepen and strengthen your relationship with your clients, while making your own job easier at the same time. Just as all of us increasingly expect all companies to meet the digital experience standards set by the leaders, clients also appreciate when those they hire make the most of what’s on offer to get the job done smarter.

With technology it’s possible to augment your client relationships, cement your trusted advisor status, grow your reputation and differentiate from competitors in the coming months and years.

Built by deal-makers for deal-makers, thedocyard provides workflow, compliance and productivity in one platform. Learn more about our end to end deal management platform or book an online demo with our customer success team.