Deal mgmt tools - IB

Based on previous WSO threads, here are some insights and feedback on deal management tools that might be useful for your side gig:

1. Existing Tools and Gaps:

   • Document Management/Admin: Tools like HelloSign and Carta are making headway in document management and equity management, but there is still room for improvement, especially in creating a more tailored experience for the finance/PE space.
   • Deal Tracker: An app to manage buyer lists, working group lists, timelines, schedules, and diligence status is highly desired. Current tools may not fully address the specific needs of investment banking professionals.

2. User Needs:

   • CRM Integration: A CRM with a dashboard that includes industry updates and specific inputs for financials, sector, M&A activity, etc., would be beneficial. The interface should be modern and user-friendly, avoiding the bloat of enterprise solutions.
   • Efficiency in Document Preparation: There is a significant amount of time wasted on preparing boilerplate documents, obtaining signatures, and tracking option grants. Streamlining these processes could save valuable time.

3. Potential Features:

   • Centralized Deal Information: Having all old and live deals overlaid on a map and easily accessible can be very helpful, especially for those who handle a large volume of deals.
   • User-Friendly Interface: Ensure the tool is intuitive and easy to use, reducing the learning curve and increasing adoption among professionals.

4. Market Demand:

   • Feedback from Finance Professionals: There is a clear interest in tools that can help organize and manage the deal process more efficiently. Engaging with potential users to gather more specific requirements and pain points can help in developing a tool that meets their needs.

5. Networking and Skill Building:

   • Side Hustle Benefits: Engaging in this side project can not only provide additional income but also help build your network and skillset, which can be beneficial for future entrepreneurial endeavors.

By addressing these points, you can create a tool that fills the gaps in the current market and meets the needs of investment banking professionals. Good luck with your side gig!

Sources: What kind of tools / apps do you wish existed in the industry?, https://www.wallstreetoasis.com/forum/job-search/looking-for-advice-second-job-weekend-advice?customgpt=1, Good side hustle?, Life at Mega Developers, Rate My PropTech Idea