Due Diligence Preview & Preparation

RFP & Due Diligence Preparation

Practice Area Overview

The Challenge

- How strong and complete is your RFP response to win an important client?

- Does your leadership team know the critical due diligence/RFP questions that will be asked as a part of landing a major client or selling your business?

- Are you confident that you will pass the key questions?

- Are there things you can do now to increase your chances of success?

- Have you reviewed your contracts or vendor lists to identify any potential areas of concern?

The RFP and Due Diligence processes are almost always required when you are selling to a major client, working on a key partnership, raising funds, or selling your company. It is a necessary evil part of the process. Unfortunately, it can result in issues that can either kill a deal or lead to significant changes in the deal structure. While most companies don't have time to complete a full due diligence review in advance, it can be very helpful to preview the most important issues and understand if your company can pass the test and identify gaps that can be addressed now.

The Benefit

The Palomar Team has been through many Due Diligence processes on both the buy and sell side of the transaction. They will walk your team through critical areas of a DD process including some of the key questions and expectations. They will provide a detailed list of areas where the company is well prepared and other areas that could be a concern. Additionally they can provide a detailed action plan to address any potential areas of concern. The result will be an enhance sense of confidence that you will be able to land that major client, raise the round of funding, or even sell the company when those opportunities arise.

Engagement Overview

Discovery

Step 1

Palomar will spend time learning about the business, the relevant leaders on the team, and any products related to the engagement.

We will request material to review in advance to help us gain necessary understanding of the business.

Then we will conduct interviews either in-person or virtually to meet with relevant team members and discuss the topics related to the engagement.

Recommended Action

Step 2

Palomar will provide detailed feedback based on their extensive experience and as a result of the Discovery Phase. the feedback will include specific areas of strength as well as opportunities for improvement. Where possible, we will also include comparisons to the industry or other best-in-class companies as a benchmark.

In addition to the feedback, Palomar will provide a detailed set of recommended actions to address the opportunities identified during the engagement. The action plan will be prioritized by potential impact to the business as well as the timeliness of the recommended action.

The Findings and Recommendations Report will be provided in a presentation format. We can deliver the presentation to the necessary team through an in-person or virtual meeting where we can share the information and field any relevant questions.

Implementation

Step 3 (optional)

Palomar will work with the key stakeholders to align on prioritized action steps resulting from the Findings & Recommendation Report. We will then develop a detailed Implementation Plan through joint ownership. Once the plan is finalized it will include commitments, ownership, and timelines.

Then we will partner with key stakeholders to implement action steps and install appropriate success metrics.

Palomar Advisors can facilitate through different roles in the Implementation Process:

PA develops Implementation Plan in collaboration with client Co-Owner.
PA remains as an active advisor during the implementation process.
PA is fully responsible for managing the implementation process with key stakeholders.