As the Covid-19 pandemic continues to affect almost every country globally, the landscape of the economy and business as we know it is changing. As a result, many directors and CEOs are being forced to make huge decisions to ensure the survival of their business. Mergers and acquisitions are part of this. As with any significant change in business operations, a merger or an acquisition calls for many IT considerations. Here are the main concerns to address in order to ensure your business continues operations as smoothly and efficiently as possible after a merger or acquisition.
Licensing
Managing the software licences of one business can be a complex task; merging two businesses’ licencing agreements is enormously complicated. Businesses should evaluate their current licencing agreements and long-term commitments to avoid overlap in the merged companies. This would be a good opportunity to terminate excess, duplicate or otherwise unnecessary licences.
Data Integration
Ensuring that data is handled correctly during a merger or acquisition is essential; failure to do so can lead to violating regulations such as GDPR and PCI. Data protection is therefore a huge feature in M&A. Businesses need to establish whether the new merger will have consent for using stored data and who will have access to it. Methods of data storage should also be discussed. If both companies are using the cloud, conflating data is relatively simple. If they are not using the cloud, now is a good time to migrate to the cloud.
Network and Connectivity
Whichever location the new merger or acquisition will be in, it must have a secure network and strong internet connection. A strong firewall is an important factor in protecting your growing network. A firewall is a network security device which monitors your network traffic and protects it from viruses and malicious code. It can also stop users from accessing certain external sites. It’s also important to ensure that all your employees are trained in network security, including how to avoid phishing scams and the importance of complex passwords. Installing and maintaining anti-virus software is also critical in defending your network.
Software and Applications
The merging businesses should agree to standardise operating systems, software and applications. This will mean that all work can be shared and confusion amongst employees is reduced. Adopting standardised applications helps unify the merging companies and helps reduce costs incurred by duplicate or excess software.
Remote Access
Covid-19 aside, remote working has become the new normal for many employees. With a new merger or acquisition, an increased number of employees means that allowing employees to work remotely can be hugely beneficial to you. However, there are security risks with having your employees working off-site, for example unsecured Wi-Fi networks and personal devices. You need to take steps to ensure that confidential data and your business network remain secure. Having an optimised remote access solution in a cloud designed for this purpose will allow remote working to be as seamless as on-site work.
One of the most important steps you can take is to include your IT support provider in any plans you may have from the beginning of your merger or acquisition. They will understand your technology requirements and can help minimise the time and cost associated with IT downtime.
Cardonet have been working with businesses for the past twenty years to help them overcome their technological challenges. Our group of highly experienced engineers are available 24/7 to assist and ensure that your IT infrastructure is running seamlessly.
If you need help with backing up your data and disaster recovery planning, call us on +44 203 034 2244 or +1 323 984 8908. Alternately, you can contact us online. We will be happy to help you overcome your IT challenges so that you can focus on what you do best.
You must be logged in to post a comment.