The Era of Mergers and Acquisitions

Resources to help you thrive in new and trying times

Being part of a merger or acquisition (M&A), and still doing your “regular” job, can feel overwhelming. Whether you’re a first-timer or an M&A veteran, thoughtful policy and procedure implementation across your organization can set you up for success—and save a lot of frustration in the process.

In 2019, worldwide M&A activity totaled to $3.9 trillion, the fourth-biggest year on record. Healthcare led the way, with $539.9 billion worth of deals recorded, followed by technology, energy, and the power sectors. The year also marked an M&A “all-time high” for the Life Sciences industry, with that trajectory expected to continue throughout 2020. Recent healthcare crises promise for even further adjustments to the new normal of business practices in the years to come. Being part of an M&A project will not only personally give you more visibility into your organization, but enable you to make a significant, far-reaching, and positive impact. Hard work? Yes. But, it’s also a rare career opportunity, and something worth embracing.

 

Get Your Ducks and Documentation in a Row Ahead of Time

One of the best ways to diffuse the emotional aspect of M&A is through well-documented processes, system setup, and policies. Take the time now to create a step-by-step manual on everything around travel and expenses, from how to book a flight to how to file an expense report.

Get your organization M&A-ready by tightening up the following:

  • Written travel and expense policies and related standards
  • Written back-office and desktop audit procedures
  • Written how-to’s on all travel and expense end-user procedures
  • Written configurations and workflows

This documentation will not only be valuable for system and process consolidation but will also make it easier to create employee training when a merger or acquisition occurs. The key is remembering that this isn’t a “set-and-forget-it” process. You must also assign ownership and put a strategy in place for updates, along with a semi-annual or annual review to keep up with any changes.

 

M&A Due Diligence Checklist: Consolidating Life Sciences Travel and Expense Platforms

When going through a merger or acquisition, the pain is in the details. It’s essential to have all the right players, requirements, and integration points in place when combining or moving travel and expense policies or configurations between companies. Before you dive in, our experts recommend that you develop a comprehensive checklist and discovery templates to ensure that you capture all the required information in a consistent format. Use this handy M&A Due Diligence Checklist as a guide to ensure that no detail is left unexplored.

Asking the right questions can get all of your parties on the same page, so you can collaborate seamlessly. Start with questions like:

  1. Do both companies use SAP Concur solutions? If yes, what products and services does each have and how are they configured?
  2. What are the system dependencies?
  3. What is the travel policy? If using SAP Concur Travel, which Travel Management Companies (TMC) are involved?
  4. What are the existing card programs?
  5. What are the contractual obligations?
  6. Does the company operate in different countries or an industry subject to additional regulatory requirements?

You must also understand current transaction volumes, processes, audit standards, business cycles—and the similarities and differences between the two companies. All of these details are necessary to build out the new, thriving operation.

 

Laying the Groundwork for a Successful Merger and Acquisition

SAP Concur Life Sciences Leadership Council, leaders from SAP Concur and The Lyndon Group, shared their insights, recommendations, and lessons learned from their own M&A journeys.

Download this compilation of practical advice, best practices, and steps you can take right now to make sure you’re ready for when the day that your M&A is announced.

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