How to set up a scorecard
Step one on any Ansarada Pathway is a scorecard that gives you a clear checklist of all the information you’ll need to produce for a material event. Fill it out with your team and see exactly how prepared the company is when it’s time to go through with it.
By ansaradaMon Oct 28 2019Due diligence and dealmaking
Scorecards can be adapted, templated and reused to suit the needs of any sized company or transaction, making them a major advantage when it comes to deal preparation.
We asked Sam Melrose, head of our Customer Success team, to run through the steps of setting up your own scorecard, so you can ensure you have all the essential topics, document requirements and best-practice framework covered in your next deal.
“I’ll walk you through how to create and send a new scorecard to another company, someone in the same company - or even yourself - using an existing template” said Sam. “Scorecards are an incredible tool for speeding up deal preparation by providing a clear structure to follow to reach a successful outcome. The ability to assign topics means that the relevant people are aware of exactly what’s required of them, so they can get the job done effectively and efficiently.”
Steps for setup
- Select ‘scorecards’ in the top navigation menu. (Scorecards are accessible through the Ansarada platform, not directly from your data room. To learn more, watch this video.)
- Under ‘pending scorecards’ select ‘create scorecard’ and give it a name.
- Go to quick start and select ‘use a template’ to use an existing template. These comprehensive templates have been built off the learnings and insights of more than 35,000+ transactions, making them the ideal starting point for deal preparation of any kind. *Tip: Anyone can create and edit scorecard templates. This template can then be used as a quick start when sending out a new scorecard to speed up processes further.
- Under ‘attributes’, select your industry, material event type and company size from the dropdown menu.
- Select ‘create scorecard’. Your scorecard will pre-populate with the template's topics and requirements. You can always customize and add in your own topics at a later stage.
- Under ‘available topics’, select any existing topics that you would like to add then select ‘continue’.
- Under ‘send scorecard’, you can edit the scorecard details and topics to suit the specific needs of your transaction.
- Under ‘reviewers’ you can assign a reviewer to verify certain areas. This enables task allocation so that every team member knows exactly what they need to do to contribute to a perfect score.
- Select continue. Under ‘recipient’, you can select who to send the Scorecard to. If it’s for your own use, it can be sent to your account to start filling in, or you can select the person who should receive it.
- Hit ‘send scorecard’, and the recipient will be prompted to begin by completing the quiz! Watch your score increase as you work towards 100% readiness for your transaction and know exactly how far you’ve got to go before you reach your optimum outcome.