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In the fast-paced world of mergers and acquisitions (M&A), professionals are always on the lookout for ways to improve the businesses they represent. The tools and technologies we use can make a big difference, whether we’re aiming for organic growth or preparing a business for sale. Traditionally, business owners have relied on spreadsheets, off-the-shelf software, or Enterprise Resource Planning (ERP) systems. But today, there’s a powerful alternative that’s gaining traction: low-code and no-code development platforms. So, what is low-code development? Low-code development platforms provide a user-friendly way to build applications. Instead of writing complex code, you can create software through simple graphical interfaces and configuration. If you’ve ever used WordPress to create a website without knowing how to code, you’ll understand the concept. Low-code brings this same simplicity to software development, allowing both business users and developers to create custom applications with minimal coding knowledge. Why are traditional solutions falling short? Spreadsheets: They’re versatile and widely used, but they can become a headache as businesses grow. Spreadsheets are prone to errors, difficult to manage at scale, and lack the robust features needed for complex business processes. Off-the-shelf solutions: While they offer a quick fix for specific needs, these solutions often lack the flexibility to adapt to a business’s unique processes. Customization is limited, and integrating them with other systems can be a challenge. ERP systems: These systems are comprehensive and powerful, but they come with a hefty price tag and lengthy implementation times. Their complexity and cost make them impractical for many small to medium-sized businesses. Here’s why low-code solutions are gaining popularity: Cost-effective: Low-code platforms are generally more affordable than ERP systems, providing robust functionality without the high costs of traditional development and maintenance. Flexibility and customization: Unlike off-the-shelf solutions, low-code platforms let you tailor applications to your specific business needs. This adaptability ensures that the software evolves with your business, supporting growth and changes in processes. Speed of development: Low-code platforms significantly reduce development time. What once took months can now be accomplished in weeks or even days. This speed is crucial for faster adoption and quicker returns on investment. User empowerment: With low-code, business users can actively participate in application development. This reduces reliance on IT departments and accelerates innovation, as those who best understand the business can directly contribute to the development process. Scalability: As businesses grow, their needs change. Low-code platforms are designed to scale, allowing applications to expand and adapt without requiring complete overhauls or replacements. How can businesses use low-code? Process automation: Automating repetitive and manual tasks can save time and reduce errors. Low-code platforms make it easy to automate workflows and processes, improving overall productivity. Custom reporting and analytics: Businesses need actionable insights to make informed decisions. Low-code platforms enable the creation of custom dashboards and reports tailored to your specific requirements. Inventory and supply chain management: For businesses with unique inventory and supply chain needs, low-code platforms can provide customized solutions that enhance visibility and control without the complexity and cost of traditional ERP systems. Let’s look at a real-world example: A mid-sized manufacturing company was looking to optimize its operations before a potential sale. They had been relying on spreadsheets and an outdated off-the-shelf inventory management system. By implementing a low-code platform, they were able to: Streamline inventory management: They built custom applications to track inventory in real-time, reducing stockouts and excess inventory. Improve order processing: Automated workflows sped up order processing, leading to happier customers and fewer errors. Enhance reporting: Tailored dashboards provided management with real-time insights into key performance indicators, supporting better decision-making. The result? A more efficient, agile, and attractive business, ready for growth or acquisition. In conclusion: For M&A professionals, understanding the potential of low-code platforms is a game-changer. These solutions offer a compelling alternative to traditional software options, providing the flexibility, cost-effectiveness, and speed needed to support business growth and transformation. By leveraging low-code, we can help business owners unlock new levels of efficiency and value, ultimately driving better outcomes in the competitive landscape of mergers and acquisitions. As the business world continues to evolve, staying ahead of technological trends is crucial. Low-code platforms represent a transformative opportunity for those willing to embrace their potential. Whether we’re preparing a business for sale or driving operational improvements, low-code is a powerful tool in the modern M&A professional’s toolkit.
Unlock the Potential of Buy-Sell Agreements and Estate Taxes with Premium Financing As a professional in the premium financing life insurance industry, staying informed about the strategies that can benefit your clients the most is crucial. One such strategy is premium financing, a powerful tool for paying estate taxes and fund buy-sell agreements. Join us on May 22nd at 9:00 a.m. CST for a webinar, where we’ll dive into the world of premium financing. Here’s why you can’t afford to miss it: Strategic Financing: Learn to utilize bank funds for life insurance to minimize estate taxes and buy-sell agreements Case Study Insight: Examine strategic buyout funding through a case study, highlighting how bank financing can uphold business continuity following a partner’s death. Timely Tax Strategies: Uncover vital estate tax strategies before the current provisions sunset on January 1, 2026. Expert Guidance: Gain insights from industry leaders, ensuring you receive ethical and well-informed advice. Don’t miss this opportunity to learn from Dave Toeben of Insight Insurance Services and Chris Dunham of Kuorum Partners. They’ll provide valuable insights that will empower you to offer top-tier advice and solutions to your clients. Register now:
Accurate Asset Assessment for Fair Distribution: When planning an estate, one of the primary concerns is ensuring a fair and equitable distribution of assets among beneficiaries. A professional valuation provides an accurate and unbiased assessment of the true value of all assets, including real estate, investments, businesses, and personal property. This is essential to avoid disputes among heirs and ensure that your wishes are carried out as intended. Compliance with Tax Regulations: Estate planning often involves navigating complex tax laws. Accurate valuations are crucial for complying with estate and inheritance tax regulations, such as the Internal Revenue Code in the United States. A professional valuation helps in accurately reporting the value of the estate, ensuring compliance, and potentially minimizing tax liabilities. Valuation of Business Interests: For estate holders with business interests, determining the value of these interests is often complicated. Professional valuation firms have the expertise to assess the fair market value of businesses, considering factors like market position, earning potential, and other unique attributes. This is vital for both tax reporting and fair distribution of the business among heirs. Handling Unique or Illiquid Assets: Estate planning can involve unique or illiquid assets, such as art, antiques, or intellectual property. Professional valuation experts have the specialized knowledge to accurately assess these types of assets, ensuring that they are appropriately valued and accounted for in the estate plan. Regular Reassessment for Changing Values: Asset values can fluctuate over time due to market changes, economic conditions, and other factors. Regular reassessment of asset values by a professional is important to keep the estate plan current and reflective of true asset values. This helps in maintaining fairness and accuracy in the estate plan over time.
A Guide to the New 2023 SBA SOP Written by Live Oak Bank here.
If you have ever traveled on the subway in London or the train system in England, I am sure you have heard the phrase “Mind the Gap” numerous times. “Mind the Gap” is the British version of the American admonishment “Watch Your Step.” The wording of the English warning was created in the late 1960s for the London subway system. The phrase alerted riders to be aware of the space between the platform and the train cars. This phrase is utilized almost ubiquitously around the world. As Sister Barbara Thompson wrote in “Daughters in My Kingdom: The History and Work of Relief Society”: “Many of us have gaps in our own lives. Sometimes it is the difference between what we know and what we actually do or the gap between our goals and what we actually accomplish. These gaps can be reminders of ways in which we can improve or, if ignored, can be stumbling blocks in our lives.” A Tool to Mind the Gap in Manufacturing How we “mind” the gaps in our business lives and in our personal lives can have a huge impact on our wherewithal in the future and how well we sleep at night. (A part of my “coffee” story.) At High Value Manufacturing
I am proud to announce that I recently earned the Certified Exit Planning Advisor (CEPA) designation after completing the
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