ADDITIONAL STEPS FOR EFFECTIVELY MANAGING A CORPORATE INTEGRATION
Establishing the Right Team! Once the initial communications have been completed, the next key step is structuring the right integration team. Typically, a “Steering Committee” is set up, an “Integration Team Leader” is named and an “Integration Team” formed. Responsibilities for each includes:
Although, the Integration Team Leader is usually dedicated full time to managing the integration, often members of the Integration Team retain some of their normal responsibilities and most always the Steering Committee does.
Thus, effectively using an “Integration Playbook” helps the Integration Team Leader project manage the integration, drive to the deadlines and manage communication and ensures that “no stone goes unturned”. It also provides a roadmap and project timeline, a basis for keeping daily updates, visibility to the plan and a vehicle for looking for ways to improve upon the plan.
Hindsight is Always 20-20! Having a few integrations under our belt, we have learned that it is important to:
Integrations are difficult! No matter what the size of the company, thus it is important to avoid the following:
Always remember the value of having an Integration Playbook, augmented by an unbiased third party helping the Integration Team Leader, can be an extremely powerful way to ensure that the integration is on track and successful!
About Us: Racca Solutions Group has lead numerous integration projects as well as supply chain transformation, business profitability optimization, mergers and acquisition due diligence, business integration, and ERP/technology implementation. Interested in learning more please click here.