Engaging with clients in the high risk field of mergers and acquisitions (M&A) and specialist advisory can be daunting. However, with OverSuite, we provide you with the tools you need to approach this confidently.
Once set up, you can use OverSuite as a strong headstart for navigating a complex field.
The below will show you how to get that set up.
*Important Note: If charging a success fee - Make sure your client understands and agrees to the basis of the fee structure, especially if it's a percentage based success fee.
Step 1: Add the Corporate and Commercial Finance Scope to Your Letter Library
The first step in engaging with clients for M&A or specialist advisory services using OverSuite is to incorporate the necessary scope into your library.
Navigate to LoEs: Access the scope library from Configure > Engagement Letters > Engagement Letter Suite.
Add New Scope: Look for the option to add a new scope to your library. This is where you can choose the 'Any Entity - Corporate and Commercial Finance Scope' from the drop down.
Customise: Review and tailor the scope where required, as every firm deals with this a little differently!
Save and Apply: Once you've added the relevant scope, save your changes.
Step 2: Assign the Service Schedules
In this step, you'll associate service schedules to your services to ensure you and your client are fully aware of the terms you are operating under for each specific part of the work or the M&A transaction.
Line Item setup: Navigate to the line items page. Make sure you have all of the services you offer within M&A or Advisory added as line items.
Service Schedules: Assign the correct schedules to your services. We have over 10 service schedules listed under 'M&A' or 'Specialist Advisory' to suit the different areas of the work, and therefore enable you to be specific with your engagement.
Customisation: Review the service schedule to ensure it matches the work you will do for your client(s).
👉🏻 You can import the M&A section using the Import Line Items button on your Line Items page, if you want a head start with pre-built service descriptions and tool tips to support with positioning the value to your client.
Step 3: Create the Engagement Letter
Now that you've set up the scope and assigned the service schedules, it's time to create the engagement letter.
Create Letter of Engagement: Create your letter of engagement.
Fill in Details: Input all the necessary details, including the client's information, your firm's details, and select the services you are providing.
Preview and Send: Once everything is in order, generate the engagement letter within OverSuite and send it to the client for their review and approval.
Provided Steps 1 and 2 have been followed correctly, your Engagement Letter will dynamically pull together the correct content for your client.
With work of this nature, it's important to always review this before hitting send to ensure everything is correct for you and your client.