Articles on: Best Practices

Best Practices for Requests Custom Fields

Empower Your M&A Process with Request Custom Fields

At DealRoom, we understand that every M&A process is unique, with its own set of workflows and requirements. That's why we've designed our platform to be highly customizable, allowing each customer to tailor their DealRoom experience to their specific needs and preferences.

Previously, we offered custom fields for Pipeline Deals, Users, and Data Room. Now, we're excited to announce the release of custom fields for Requests! With this new feature, you have the flexibility to track a wide range of information related to your Requests, empowering you to manage your M&A process more effectively. "Add how to set up article link"

Request Custom Fields is a feature included in enterprise plans. For other plans, it is available as an add-on at an additional cost. Contact our support team today to explore adding this feature to your workflow today!

Request Custom Fields

Note: Request Custom Fields management is exclusive to Admins.

Request Custom Fields: Examples and Best Practices

Standard Fields

DealRoom already includes several standard fields for requests, such as:
Assignee, Reviewer, Follower
Start Date & Due Date

But let's explore some other possibilities!

Example Custom Fields for Due Diligence

Date Requested and Date Provided: Capture when information was requested versus when it was provided, offering deeper insights into overall timelines.

Date Requested & Date Provided Custom Fields

These custom fields provide clarity on the progress of due diligence tasks, allowing teams to track the timely receipt of critical information and identify any bottlenecks.

Example Custom Fields for Integration

Type of Activity: Specify the nature of tasks (e.g., email, meeting, system installation).
Actual Completion Date: Differentiate between the planned and actual completion dates of tasks.
Milestone Task: Identify whether a task is a milestone (yes or no).
Delivery Method: Specify how information should be delivered to counterparties (phone, email, in-person meeting).
Day 1 Dependency: Indicate if a task is Day 1 dependent (yes or no).
Resource Allocation: Determine if integration tasks have sufficient resources for completion (complete, partial).
Progress Tracking: Track progress on a task level (Progress %: 25, 50, 75, 100).
Synergy: Identify if this is a revenue synergy or a cost synergy.
Value Driver: Indicate the value driver behind this request or task.
Department: Specify the departments involved with completing this task (i.e. HR, IT, Legal, Finance, etc.)

Tip: Custom fields come in five types: Text, Select, Multiselect, Date, and Number. If using the Select type, assign colors to each option for visual clarity.

These custom fields provide comprehensive insights into integration tasks, enabling teams to efficiently manage resources, track progress, and ensure alignment with strategic objectives.

Once you've created your fields, they will show up in your Request table as shown below:

Tip: Customize your experience further by rearranging the columns of request fields! Dive into the details on view customization below.

Setting Request Custom Fields Permissions

As an admin, you have the authority to determine the level of access to custom fields, ensuring that not all users can see them. If there's sensitive information you wish to track in your diligence or integration list without revealing it to targets, custom fields with restricted access can be created.

Changing Request Custom Fields Permissions by Group

BI Reporting & Request Custom Fields

Track and analyze request custom fields with our BI reporting feature to gain valuable insights into your workstreams. The data from these custom fields are pulled into BI so that you can accurately track your workflows. For more information on how to do this, please refer to this article.

Note: Your plan must include the Pipeline with BI reporting to use this feature.

Customize the Requests View for You and Your Organization

Customizable views ensure that every user can access the information most relevant to their role, increasing efficiency and productivity across the organization.

Organization Default View

Set the default view for new users in your organization by selecting fields and their order in the organization settings. You have the freedom to add as many fields as necessary. However, you can streamline the table view for all users, ensuring they only see the most important fields on their Requests Overview screen.

Personal View

Users also have the ability to personalize their view by selecting the fields they want to see in their overview. Simply navigate to the Requests tab, click the table icon at the top right, and customize your view by selecting preferred request columns and rearranging their order to suit your workflow.

Tip: The above are suggested best practices. Feel free to customize your fields according to your specific needs and preferences.

Do you have innovative ideas for utilizing request custom fields? We'd love to hear from you! Share your experiences and insights with our support team.

Relevant Articles:

How do I create request custom fields?
How are requests and the data room linked?
How to add colors to custom field of select type?

Updated on: 29/03/2024

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