50% Faster M&A Data Migration Leads To Stronger Acquisition Processes
Wealth Enhancement Group
What They Earned
When you acquire a company, there's plenty involved - and a major hurdle is harmonizing the data between disparate systems, fast.
For Wealth Enhancement Group, their aggressive acquisition strategy demanded a robust data strategy to get acquired companies up and running faster for more immediate impact.
They got it, systemizing document management, reducing manual processes, and preventing the need for additional headcount while speeding up go-live by half.
They didn’t just deliver a solution; they became a true partner in helping us overcome our data challenges.
Vice President
How Did They Gain It?
Weath Enhancement Group needed to overcome three primary challenges with their strategy:
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Integration Bottleneck: Their rapid acquisition pace resulted in significant challenges around integrating acquired firms' document data, especially with a singular team handling everything across all acquisitions.
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Manual Processes & Time-Intensive Work: The process of migrating data (particularly historical documents) was time-consuming, often taking weeks depending on project scope.
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Limited Scalability: M&A staff had other operational responsibilities, and the volume of acquisitions made it impossible to continue without either increasing headcount or improving the process.
The creation of an automated program that would migrate document data from the acquired companies source system into their Laserfiche platform. Leveraging Python scripting and API tools, we streamlined a two-week process into three days without any significant software purchases to facilitate.
Additionally, Insight Works developed an automated system to map client documents from various sources into a unified structure in Laserfiche, while enforcing quality control and validation checks to ensure accuracy.
What took two weeks now takes three days, and Wealth Enhancement Group hasn't needed to add headcount while scaling.
The Key: Nailing their organizational data strategy
The entire Wealth Enhancement Group team had a clear point of view on how they wanted to attack their data challenges, and developed a more robust strategy and architecture to support any scenario moving forward.
This built a foundation that both scaled to any acquisition moving forward and ensured consistent results for every M&A they engaged in.
50%
reduction in M&A data migration process time
20%
SG&A savings due to greater automation
