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The 100 Day Plan: How to Set Your New Acquisition Up for Success

After months of discussions and negotiations, your business or investment firm has acquired a new company. The new acquisition checks all the boxes: shared culture, expands your geographic footprint, and offers new products or services. So what’s next?

It’s time to execute a “100 Day Plan,” and a critical component of that plan is integrating the current and new accounting & finance functions.

A 100 Day Plan is the foundation of your newly formed platform’s long-term success b Executing this plan will allow you to better track financial & operational performance, implement strategic plans, and realize expected synergies.

Key Actions to Consider for Your 100 Day Plan:

Design & Implement Your Strategic Plan

It is imperative to keep in mind your strategic plans for your latest acquisition. This will help guide what new processes are put in place, and how your reporting structure needs to be updated. A strong finance & accounting foundation will allow you to implement these strategic plans much easier.

Integrate Accounting Systems

The acquirer and the acquisition should be on the same accounting platform. We also recommend creating a standard Chart of Accounts that will be used across your company or portfolio. This will allow for reporting consistency and business continuity.

Create Financial Reporting Packages

This is often the most time-consuming task after making an acquisition. Having an organized and accurate finance reporting package is essential to track your growing business’ performance and make more-informed business decisions post-transaction. We recommend implementing a monthly reporting package that clearly presents monthly financial statements and other key metrics.

Create Operational Metrics (“KPIs”) Reports and Reliable Processes

Identifying and developing KPI reports and reliable data-gathering processes is critical to monitor your strategic plan over time. We recommend weekly and monthly KPI reports.

The post-transaction integration process is extremely time-consuming and needs to be done properly in order to avoid future, costly issues. Hiring a third-party advisor that specializes in these integrations, like CFOx, can be a huge benefit to all parties involved, and will ensure everything is done accurately and quickly.

If your growing company or investment firm recently made an acquisition and needs help integrating the finance & accounting functions, please, contact us at [email protected] to schedule a free consultation.