“Our software allows customers to track acquisition targets and manage integrations at every phase, add notes, action items, documents, emails, and measure synergy realization through real-time visualizations.”
The typical merger and acquisition approach is characterized by multiple barriers and scores of critical activities. Don’t be dependent on limited visibility and lack of a consistent process for critical decisions. Unlock the secret to success with Devensoft.
Devensoft, a software-as-a-service company, provides acquisition and integration management solutions to M&A teams. It offers Transact, a solution that enables corporate development teams to track an unlimited number of targets, organize various data points, manage due diligence, and evaluate risks critical to the acquisition; and Integrate, which helps post-merger integration teams plan and manage all aspects of a successful integration. The software comes with built-in due diligence checklists and integration playbooks, which can be customized to fit the needs of any deal. Both modules include an extensive list of reports and customizable dashboards. The software is accessible from cloud data centers in the US or Europe. It serves mid-size to large companies throughout the world. Devensoft is certified in ISO 27001, ISO 27018 and the EU-US Privacy Shield.
Devensoft was incorporated in 2013 and is headquartered in Chantilly, Virginia.
Nick Perdikis, Devensoft CEO, spoke exclusively to The Silicon Review. Below is an excerpt.
Why was the company set up? And what do you propose to bring into the market?
Having been involved in mergers and acquisitions, we were stunned at the inefficiencies and lack of collaboration tools to manage acquisitions and integrations, especially since M&A is considered strategic for many companies. Based on our decades of experience, we knew there had to be a better way. During our market research, we heard similar frustrations from corporate development executives and integration leads. The process was inefficient, time-consuming and there was a lack of software to help manage the end-to-end process.
Our cloud-based Devensoft M&A platform allows companies to efficiently and cost-effectively manage their M&A programs, from the pipeline to post-merger integration. Certified in ISO 27001, ISO 27018 and the EU-US Privacy Shield, we adhere to the highest level of information security and data privacy, including GDPR. Our software allows customers to track targets and manage integrations at every phase, add notes, action items, documents, emails, and measure synergy realization through real-time visualizations.
How successful was your first project roll out? Share the experience?
Our first customer in 2013 was a Fortune 1000 cosmetics and beauty care product company. The company closed on an acquisition valued at over $600M and was looking for software to manage and report on integration costs and financial synergies. The company used our software to successfully track and report on all financial aspects of the integration across multiple countries.
What kind of responses have you received from your customers over the years? How have they motivated you to shape your offerings/grow the company?
Our customers are highly satisfied with the out-of-the-box functionality of our software and ease-of-use. With a renewal rate of 96%, I am incredibly proud of the work our Customer Success Team does every day to make sure customers are getting the most value from their investment. Most of the new features and improvements we’ve made to our platform over the years have been a result of real-world customer feedback. We place a lot of emphasis on the user experience, from where we place fields and controls on each page, to smooth and fast interaction throughout the software. Each change goes through a multi-step design and QA review process with internal and external users to ensure we deliver the highest quality software with each release.
One area that gets considerable attention, and rightfully so, is security. We place a high degree of attention on security and implemented internal processes and controls to protect customer data against unauthorized access. We possess the highest level of security certifications available by the international community in ISO 27001 and ISO 27018. We stepped up to the plate early on GDPR and received our certification on the EU-US Privacy Shield to demonstrate our on-going commitment to data privacy for our EU customers.
What were the grounds on which you have expanded your company and its offerings over the years?
When we launched Devensoft, we expected that as more and more customers signed up, they would find new ways to use our software within their companies. This is now a reality. Several of our larger Fortune 1000 customers have been using our software for other strategic programs, including cost optimization, transformation and value creation initiatives. They found the ease-of-use of our platform, combined with its powerful financial and KPI tracking capabilities, made it an obvious choice. We knew this broader adoption would eventually take place, but it has happened faster than originally expected.
Another unique feature of our software is our legal NDA workflow. Customers that need to track when team members had knowledge of a deal find this feature to be incredibly useful. It aids them with compliance reporting and responding to potential FINRA requests.
How often do you innovate? Is it only when there is a need in the market?
Innovation is a core value of Devensoft. Our creativity is not limited by what is in front of us. We study emerging technologies and trends so we can continue to experiment and innovate at a rapid rate. Through this insatiable appetite to explore, learn and grow, we are building a company and a culture with unlimited potential.
Do you have any new products ready to be/getting ready to be rolled out into the market?
We have listened to the market and will be launching a couple of new products in the coming months. One such add-on product is a due diligence collaboration portal for buyers and sellers. This is going to increase speed and productivity in responding to due diligence requests and Q&A.
The second product is a version of our software for strategic program management. As I mentioned earlier, our customers are beginning to use our software for more than mergers and acquisitions. Based on feedback from our user-base, we are building a version that will focus on the needs of strategic program managers to include, transformations, cost optimizations, and value creation initiatives.
Where do you see your company a couple of years from now?
We are incredibly excited about the future of our company. No one knows what the economy will look like in two years, but our plans are to diversify our product portfolio so that we continue to add value regardless of the economic conditions. Our goal is for customers to use our products for acquisitions, as well as, strategic initiatives that optimize spend and create value. We continue to expand geographically and expect more international customers in the years ahead.
For more information on Devensoft’s award-winning M&A platform, please visit:
Nick Perdikis: A Brief Background
Nick is an experienced executive with over 30 years in the information technology industry, with a focus on SaaS solutions and professional services. His leadership style and unique combination of business management, sales, finance and technology skills have enabled him to successfully build technology companies into established and recognizable players in the market.