Our organization uses a couple different software programs as it relates to our M&A activity. We are looking into some better options, so I will explain some pros & cons below:
– SmartSheet: “Cloud-based platform that allows organizations of all sizes to plan, capture, manage, automate, and report on work across the business…” We use this for our project/cut-over plan and it allows for storing attachments, linking out, and creating dashboards. Pros: it is cloud-based and you don’t need to be a licensed user to use it, so we only have limited licenses for the project mangers and everyone else doesn’t need one, mobile friendly / app option, automation triggers reminders, requests updates, and alerts you of changes. Cons: Doesn’t have all the features you could get with something like MS Project and formulas can’t be as complex as they can be in Excel.
– SharePoint: “Web-based collaborative platform that integrates with Microsoft office. You can use it as a secure place to store, organize, share, and access information from any device.” We use this for storing our documents as more permissions can be added to folders. Pros: secure location that can be shared with desired teams/individuals, integrates with other Microsoft products. Cons: requires a license per user, ours does not allow people with other domains to have access – which limits our ability to share the space with the other organization, depending on type – multiple people may not be able to be in the documents at once.
– Microsoft Teams: “Unified communication and collaboration platform that combines persistent workplace chat, video meetings, file storage, and application integration.” This is a newer software we are starting to use. From what I can tell, it is similar to SharePoint – just more user friendly and allows for chat & calls. I haven’t used it much yet, so I don’t have pros & cons at this time.