When you’re planning your next M&A or acquisition, it is important to know the most important factors which will ensure smooth integration post merger. This process is a critical step towards achieving strategic goals and gaining synergistic benefits. Many companies make blunders that delay or even derail PMI, and ultimately jeopardize the success of the deal. This article will look at the most frequent post merger integration mistakes, and offers tips to avoid them.
Create a team for managing the integration process after the merger. This taskforce with a cross-functional focus will ensure that attention is focused on the crucial tasks, facilitating a successful merger process. The group will also be able to alleviate pressures and unforeseen problems that may arise during the process of integration.
Create an integrated plan for integration that includes key milestones and deadlines for the project. It is important to adapt your plan as the project progresses. A dynamic plan will minimize delays and disruptions.
Be proactive about integrating culture early and ensure that employees feel at ease throughout the PMI process. This is vital to ensure that employees feel engaged during the transition and remain enthusiastic. The integration team should be in contact with the employee groups frequently to provide updates and provide answers to questions.
Include project timelines and quantifiable results into the business transformation roadmap to inform all stakeholders of progress. It is essential to keep track and monitor the status of projects, and provide a report on the savings that have been realized. A single source of truth, such as an Enterprise Architecture Model, can simplify communications and provide an accurate view of the roadmap.
