The Tool I Needed for PE
Our search fund runs our entire business through DealCloud. It has all the features we need, and combines what was needed from multiple pieces of software into just one product.
Our company goes through an unusual amount of intermediaries, and having the ability to split up our communication and deal flow with them versus our proprietary search is great. The ability to filter our information and statistics from our growing pipeline is also great, as it got quite complex with our last CRM.
Slightly difficult to use the mobile application versus on the computer. I believe this is a function of the sheer amount of information packed into DealCloud, but it can be pretty difficult to fully navigate on the app at times.
DealCloud - highly configurable. Excellent support team
The DealCloud platform is architected for a number of deal making verticals such as PE, IB, specialty lending, etc. But the beauty of the platform is that these "out of the box" use cases can be further configured to our specific business workflows. We have continued to evolve our DealCloud solution as our business evolves. For example, for our first fundraise we did not use a Placement Agent. On our second fundraise, we did. We changed DealCloud to show prospective LPs brought to us from the Placement Agent. In addition, we further customized DealCloud to marry the data elements that our Placement Agent was tracking in their system to the data elements we wanted to show in our system.
We also customized DealCloud for a custom deal sourcing methodology we use internally. The system was extremely flexible to accommodate that workflow process.
Finally, we have found the DealCloud support team to be very responsive, including addressing our needs after-hours and over the weekend. They understand that we are in a 24x7 business, particularly when we are in diligence on a potential deal. They are available to support us and are fluent in our industry. We aren't speaking with an offshore help desk but rather to the individuals that build and implement solutions.
Configurability of the software
Looking forward to updates to the user interface
The Art of Over Promising and Under Delivering
Software itself is fine, the people, not so much. Get your own implementation team that will deal with them as they will spend the bare minimum with you, fall short on designing the implementation, and then blame you for mistakes you should have thought of and encourage you to become a platform manager so you can just finish all the changes by yourself. They said it would take 10-15 hours to implement and I assure you that is not even remotely reasonable if you are exporting 7 years worth of data from an old CRM.
It's appalling that changes they were supposed to make in implementation are just passed off as your fault and problem. The do not finish the implementation cleanly either - just hand it off when it's too frustrating to other teams and then you start all over again. To this day I am finding all kinds of fields that are date fields set with addresses as the format. Percentage fields as reference fields to companies. It's endless. List's that were hidden but are extremely useful for us to utilize. But I get to spend my time doing that since we are "post-implementation."
Interface looks sleek and is somewhat intuitive. Visuals on dashboards are fantastic if you know how to use them. The ability to link different modules easily is what makes this a superior software - until others catch up. As a former Salesforce Dynamo, Zoho, MS Dymanic user in my career, I can compare this to several industry standard CRM systems and being able to link modules (lists) and generate new lists are great. The system is powerful if you know how to use it and you can customize as needed.
The implementation has been poor and completely missed the mark. The initial promises of being able to guide the implementation with advisory on best in class practices fell very short. It is just now, over a year later that my colleague and I recognized a simple solution that would have streamlined efforts greatly between the deal team and marketing customization's. It's so basic that it is shocking that DealCloud did not suggest this solution - but we get to spend the time fixing it now. When the frustration with implementation was expressed, the account managers will begin the blame game. To the point where a very senior person got on the phone and then proceeded to be very patronizing.
Another HUGE con is that there are very limited API's in place for this software and others. One of the senior execs will encourage you to go ahead and do an API yourself if you have the technical skillset as DealCloud is open source. DealCloud will also do the API work for you for a huge fee which they then turn around and sell to other clients after you pay for the initial API.
2016 New DealCloud User
We started our private equity firm in 2016 and the first investment we made was in DealCloud in order to have a cutting edge CRM system for our business. The implementation process was completed on time and on budget, and the customer service to date has been outstanding. DC has become a core operating system used firm wide every day, and is an integral tool for our marketing programs and deal origination efforts.
The mobile app is functional, but has plenty of room to improve, and I understand that development work is in process.
DealCloud has been a great investment for our firm, in large part due to the very responsive customer service team and how easy the system has been to tailor to our firm's needs.
Easy implementation, highly customizable for the needs of our firm, outstanding customer support - as responsive as any CS team that I've worked with to date. DC is the only CRM that we found that was really designed for a lower middle market private equity firm.
The mobile app needs to be improved to improve the GUI and ease of adding notes and accessing historical data. Datasheets should be easy to use in any browser and I'd like to get away from the requirement to use Internet Explorer for that functionality.
Best customer service
DealCloud has been an amazing addition to our company and we are so happy with our choice.
By far the best thing about deal cloud is their customer service. If there is anything you wish you could do within dealcloud, all you have to do is ask and the team will go above and beyond to see if that ask is feasible, and make the changes if possible.
Sometimes there are little flukes that happen with the software because of these frequent changes, but they are usually solved very quickly.
DealCloud is the best for PE
Since starting with dealcloud in 2017, we've had great improvement with our contact & deal pipeline database. Many of our users have adapted to the new system, which has helped tremendously in capturing our key statistics. We've been very happy with DealCloud, and look forward to the many improvements they continue to make.
Combines all the pieces of deal information we need into one central location.
Sometimes it's too many clicks to get to one point of information.
better than salesforce
postive, customer support was very helpful and always available
I found this to be much better than competitors in the financial services space, more relevant tools
kind of clunky interface, ui/ux could be a better and more time spent thre, but other tools are great
The software is simple to use and easy to navigate. The customer support is readily available and the platform is very functional.
The platform can be tedious to use at times. The customization of the platform needs to be done by a DealCloud agent, therefore is lesser tailoring on the user side. The integrations with Outlook and other programs still need to be refined further.
Supportive BD Professional
As a new DealCloud user (six weeks), I'm very pleased with the platform overall. Generally speaking, I think the tool is intuitive and flexible. I'd like to see additional functionality added to expedite larger upload/data edits; however, customer service has been exceptional in providing support for these types of projects. I appreciate having a primary support person in addition to a helpdesk line. I can't say enough great things about the quality and timeliness of the support team.
Great CRM for Finance Professionals
It's been a great contact and process management tool for us as a middle market investment bank.
A ton of useful feature functionality but not too much. The team has been great with customizations of features to meet our unique needs. The platform is super fast in comparison to others we have used historically.
Nothing from the company's perspective. Like any CRM, the value get is based on the time / effort put into using it by the organization.
Does what you need, but not seamless
The software performs its core function, and the support team is available and responsive to help with customizations
The integration of the platform into other programs is far from seamless and requires a wholesale commitment from team members in order to achieve value
Great CRM functionality
Overall the experience has been positive. We can track meetings, contacts, and plan ahead.
I liked the functionality of the CRM and the ability to customize the different fields for data I want to track.
With increased functionality, the ease of use and learning curve is harder. It is also relatively expensive compared to others.
Trive Dealcloud Experience
The e-mail marketing platform in DealCloud (Dispatch) is woefully poor
A beginning to end solution for all aspects of a sales funnel is great for keeping everyone on the same page.
Unfortunately, I use the platform primarily to blast out e-mails and coming from something like Mailchimp to this was an eye-opener. Simply put, the e-mail builder inside Deal Cloud is poor enough that even support recommended to BYOE. (Bring your own e-mail.) Only issue is the system often inexplicably strips out parts of your code a lot of the time with no hints as to why. It also requires the use of templates just to get to the step of inserting your own code, even if it's a one off design. Add in missing features like no preheader functionality, and it just makes me miss what I had before.
DealCloud came in to pitch their product to us. It is the premier CRM that is tailored directly for investors. We currently use salesforce and DealCloud fixes a lot of the user issues that salesforce has
We haven't made the ofifical switch yet, so I have no complaints.
Functional for Finance
Incredibly meticulous support and implementation, functionality that goes up against the custom version of Dynamo and others, good reporting, and the ability to access through mobile and email. There's not much more you could ask for.
Easy to use, easy to find reviews