Name: Inside the Deal: Qualfon’s Journey from Legacy Platform to a Buyer-Led Approach
Uploaded: 2025-10-21T16:46:09.933Z
Duration: 40 min 12 s
Description: Inside the Deal: Qualfon’s Journey from Legacy Platform to a Buyer-Led Approach

Transcript for "Inside the Deal: Qualfon’s Journey from Legacy Platform to a Buyer-Led Approach": Hey, everybody. Jesse Tremblay here. Thanks for joining. We're gonna give it a couple minutes for to let folks, jump on before we get started. But while you're waiting, why don't you share where you're dialing in from and drop it in the chat, so we can get the conversation going. I'm in Boston. And like I just said before, you might have joined. The weather's beautiful here. And I'm in, Connecticut. Probably about two and a half hours from Jesse. We got London, Rotterdam, Wisconsin, Sydney, Scottsdale. This is awesome. Yeah. As as folks are trickling in, we're just we got another minute or so before we'll get started. If you wanna share where you're calling in from, please just drop it in the chat. Do you see put the Gorda Florida? This is nice. This is representation everywhere. This is fun. Mhmm. Alright. Let's get started. Hey, everyone. Welcome to Inside the Deal, where we cut through the noise and show how buyers actually run deals start to finish. My name is Jesse Tremblay. I'm the VP of product here at DealRoom. Before we get started, I wanna do a quick bit of housekeeping. First, this session is recorded, and it will be sent out later today. Questions are definitely encouraged, so please use that q and a tab or even the chat, and we'll try to get them answered at the end. And if you haven't already, let us know where you're joining in from today and drop it in the chat. So this series isn't about product demos. It's about how buyers have leveraged a buyer led approach to take control, fix broken processes, and close smarter. No fluff, just real stories, shifts, and owning the outcome. Today, I'm joined by Christina Ungaro, chief global mergers and acquisitions officer at Qualfon. I'm excited for her to share her story about transitioning to deal room from another platform and how she's leveraging deal room pipeline to manage her deals and share a bit more about what the future state might look like. I'm I'm gonna set the stage with an overview of buyer led m and a. But before we get into that, hey, Christina. I'd really love for you for you to introduce yourself to everybody. Thanks, Jesse. Really happy to be here. Thanks for having me. Yeah. Just a little bit of background on myself. So I've been doing corporate development for, a long time now, over twenty years, in the industry. I started my career in equity research, which was really great foundation for career in m and a and moved into corporate development, after business school, and initially, was working at IBM. So I spent ten years at IBM in, a variety of corporate and business development roles and worked on a ton of transactions, both divestitures and acquisitions across technology services and hardware and software. I then, took a leadership opportunity at JOL, which is a large, commercial real estate and professional services firm. And I spent seven years at JOL building out their corporate development function, executed, lots of transactions there and implemented a lot of processing systems. And I was actually at JOL that I first, was introduced to DealRoom. We ran a vendor selection process there for an m and a platform and and selected DealRoom and had a great experience with it there. During the pandemic, like a lot of folks, reevaluated my career, went made a move to a private equity backed software company called Wind River and spent a few years there. Also adopted a deal room when while I was at Wind River. And it was a a greenfield opportunity. They haven't been using anything at that point. And then, that company, we acquired. I spent a little bit of time with the new owners and then made another move to Qualcomm, where I am now. So, that's a little bit of my background. On a on a personal note, as I mentioned at the top of the call, I'm based in Connecticut, live here with my family, two kids, and, have been, working remotely from home office for a little bit over a decade now. That's awesome, Christina. So let's get started and set the stage around buyer led m buyer led m and a. The whole idea behind buyer led m and a is pretty simple. We're shifting from reactive seller driven deals to proactive strategic acquisitions where buyer leads with clarity, control, and alignment. At DealRoom, we help teams break away from the chaos of spreadsheets and scattered emails and instead run m and a with a streamlined, collaborative, tech enabled approach. Our framework is built around five key pillars. These are the foundation of a buyer led, M and A program. It starts with never M and A on impulse. Be intentional. Then make sure your process tools and data are all unified. You want to synchronize diligence and integration because day one should never be an afterthought. Structure everything for scalability, especially if you're doing multiple deals. And finally, aim for a true win win because the deal only works if both sides walk away stronger. Alright. So, Christina, before we dive into our conversation, I'd love for you to share more about your role at Qualfon, give an overview of the company, and and stuff like that. Sure. So I'm currently serving as Qualfon's chief m and a officer. We have a mighty team of two people here, including myself. So I've got one one individual supporting me. We are a mid sized family owned company where, we provide, primarily outsourced customer care and customer experience solutions to enterprise customers. We serve, insurance, health care, retail, telecom industries, and others. And we also, provide customers with, sales support, marketing solutions, lead generation, and we even do some product fulfillment, serving, ecommerce customers. So we've been around for about thirty years, and we've grown substantially over that time period. And particularly over the last ten to twelve years or so, we've done, where we we've been very inquisitive. We've done nine acquisitions over that time. And collectively, those acquisitions drive, well over more than half of our revenue, by our estimates. So m and a is clearly a really important part of our strategy. It's gonna continue to be important part of our our growth and diversification strategy. And, you know, we typically look at 75 to a 100 deals a year, and that's, and that's just that's not everything we see. That's just what we really touch. And we try to aim the course about one to two acquisitions out of that set. So a lot of deal flow, definitely a a need for for good systems here to stay organized. Yeah. That makes sense. How are you managing that deal flow in your m and a pipeline before DealRoom? Yeah. So when I first came into the company, not quite two years ago now, there were some systems in place already. And what I found was that we had two pipelines, being maintained. One was we we we were at that time using an alternative soft m and a software platform, and we had a pipeline stood up in there. And then we also had an Excel spreadsheet that was being maintained as a separate pipeline. There was a high degree of overlap between the two, but not complete overlap. And I was scratching my head as to why we had this Excel spreadsheet when we had invested in this m and a platform. And the reason was that we were running some data and analytics and reporting off of that Excel platform that we were not able to run out of the software platform. And, and I think some of it was just a little bit of old habits. But the first thing I decided was we need to consolidate down to one platform and one single source of truth. So we sunset the Excel platform, and we tried to recreate all the reporting that we needed in the software tool that we had, but it it didn't go completely as planned. It it wasn't, wasn't delivering everything that we needed. Got it. Got it. And what did what were some of the problems and challenges that that created, like, negative impacts, to the business based on, like, managing those multiple platforms here? Yeah. I mean, so because we had these multiple platforms, there were a lot of deals fell through the cracks. In some cases, we had some information in one place but not the other or maybe no information at all anywhere. And so, you know, we I would get asked questions, you know, like, hey. We saw this deal last year before you got here. You know, what data do we have on it? And I couldn't find anything. So I would have to start hunting around to people with, you know, maybe somebody somewhere had something on their individual hard drive, which is just a really bad way to to manage data. So lots of stuff falling through the cracks. No single source of truth. And we, you know, we weren't able to run the analytics that we wanted off of that platform. It was also really difficult to scale users. It was a different, pricing model that we were on where a seat based, model, and we only had a couple of seats. So if we had a live deal and wanted to bring a team of 10 or 20 people onto the platform to start doing more collaboration and and sharing, it was really difficult to do that. We we started to trip wires pretty quickly. So, that was that was a key challenge, you know, that we had with with the platform we were on. Yeah. That that totally makes sense. And I'm I'm curious, like, once you started to look for something different, why didn't you end up actually choosing DealRoom over other things that you looked at? Yeah. I mean, you know, as you know, I've used DealRoom before, but every, things are things are changing constantly. Right? So we took it as an opportunity to do a little bit of another vendor selection process, and we we demoed some other platforms in addition to DealRoom to see what's new and what else is out there. But we came back to DealRoom again because, you know, it's we just I find it really easy to use and intuitive. It's it's a little bit easier to drive adoption internally, with DealRoom because it is so intuitive to use. And the the licensing model at DealRoom works for us where it's it's not based on seats, based on data essentially and and the different services that you're using. And so if we wanted to spin up a deal and move into due diligence and bring 30 people into the DealRoom, we can easily do that, without tripping any wires and incurring lots of extra cost. Yeah. I love that. So you you mentioned, like, you know, it's it's intuitive and easy to use. I'd love for you to talk a little bit more about, like, what that migration process was like for your team, like, and how that went. Yeah. I mean, this was what kept me up at night, like, moving because I've never moved from one platform to another. I've always just been moving in the past, I've moved from Excel spreadsheets onto a platform. So, move getting all the data out of the existing platform and documents in many cases, we had a lot of documents attached to those records. That made me really nervous. But DealRoom made it very seamless. We we kinda went in with a strategy of, hey. Let's replicate our environment in DealRoom, the same fields and everything so everything moves over seamlessly. And DealRoom helped us do that. It just took a matter of a couple of days. So I I thought this was gonna be a a longer effort, but it was really actually pretty quick. And once we got everything moved over and we were able to see that everything was stable and everything was there, then we started to make improvements and changes to the actual configuration of the of the pipeline itself, which is know, part also part of the reason why we why we moved so we could we could drive some continuous improvement in our configuration. So it was, it was really really seamless, process. And and, you know, like I said, the customer support team was excellent to work with, and and super efficient. Yeah. I I might be biased. I think our customer support team is pretty awesome. I I one thing it so it sounds like you were, like, up and running and were getting value out of platform, like, pretty pretty quickly. I'd love to actually see how how did you actually use, like, structure and use your pipeline inside of DealRoom? Yeah. So, yeah, we can go into a little bit of a demo and, let me share my screen. Can you guys all see that? Yeah. I can see it. Coming through? Okay. Great. Great. Yeah. And so just for the audience's awareness, none of these are real deals. We've we've recreated our data our our pipeline, all the phases and fields and and reports that we use, but the actual deal cards are all, you know, just dummy data. Right? So, obviously, that would that would be confidential. So but just to kinda walk through how we set it up and you know, I think the the key thing you can do here is, like, anybody can set it up however they want. It's super configurable. And if you have some quirky things about how you about the nomenclature you use or, how you track things like, you know, it doesn't matter. You can do whatever you want in DealRoom. So some of this is pretty standard fare and some of it's a little bit unique to us. But we start with what we call prospects. And I think you know, a question that corporate development professionals always had is sort of when do I put something in the pipeline. We don't so we have lots and lots of deals at the top of the funnel that we never actually touched, and that's not really reflected here. This is really more sort of halfway down the funnel, if you will, when we actually have a, a touch point with a target and and actually some sort of a dialogue, we put it in here as a prospect. Once we actually qualify an opportunity and sign an NDA and start to exchange some information, then we move it into the NDA initial analysis. And this is where if we're reviewing an inbound deal that maybe there's a SIM, this would show up in this category. This tends to be our biggest category. We typically have a lot of deals in this phase. Once we move, once we decide to submit an indication of interest or or a term sheet or some sort of initial terms, we move it into this indication of interest category, and we typically might have a couple of things in there at any point in time. And then if the indication of interest is accepted and we continue in the process, you know, then we move into what we call pre LOI diligence. For us, that's a pretty intense phase. We do a lot of diligence before we do LOIs. We don't enter into LOIs lightly. That's just kind of our approach. And then, you know, if we so once we start to get down here, these are these are pretty late stage deals. Once we get to an LOI, we move into confirmatory diligence. And then as that sort of winds down, we move into more exclusively negotiating the purchase agreement and employment agreements and whatnot. So, you know, we might have some things in this phase. And then lastly, once we close a deal, it moves in it moves into immediately into integration phase. So, that's that's this category over here. We have a few other categories off to the side here. And these are a little bit more unique to us and maybe not, entirely self explanatory. So, you know, sometimes we need companies that, are not interested in acquisition or maybe they're just not it's not the right fit. We decide maybe there's a good partnership opportunity. So we'll put things here into the into the partnership development phase so that we're everybody's aware of sort of what's going on with that company. We have some things that we're monitoring as well. Maybe there's an IOI resubmitted and it wasn't accepted, but, we're sort of wait and see approach and see how the process plays out. We're interested to see what the outcome is, you know, where maybe something just sort of goes away for a while and we think it's gonna come back. So we might put that in the monitoring category. And then I'm gonna skip over here to the end for a moment. The path we created a category called past. We all know that it's really this is a current calendar year view. Anything that we've passed on in the current calendar year or just disengaged from, we put it in here. And so this gives us a very easy quick and easy way to see all the deals that we've looked at in this calendar year. And then once things become once we sort of turn the page on the calendar, we move all this stuff into the inactive category, which is kind of like our archive, if you will. So that's how we've structured our phases. And, you know, since we got this set up, we've made some changes to this. We we we adjust the nomenclature all the time. It's it's really, easy to do that. Got it. That that's awesome. I I'm curious, like, what you mentioned, like, ease of use and that that's something I, like, keep coming back to. And, like, what feels easier or more, like, efficient than it did than it did before? Yeah. I mean, it's it's really easy to make changes to things. So, you know, we if you go into settings here, like, it's very easy to create a new phase or edit an existing phase, and just editing our fields. We'll go into our field card in a moment, but, this is really easy to add fields, delete fields, change fields, change the format of a field. It's very easy to make changes, on the fly. We also do a fair amount of, you know, regular reporting. So it's very easy to go in here and just update, update our reporting. I can select what phases I wanna include in my report, and then I just, you know, sort of hit, you know, hit refresh, and and there we go. It's very quick. And this this was a huge differentiator for us because the other platform we were using, we would we would hit this refresh button, and it might take twenty or thirty minutes sometimes to refresh. And then even after that, some of the data was still stale, and and we knew that just by looking at it. So it's really important to us to be able to refresh these reports really quickly so that we can we can get them out to folks, on a regular basis very easily. And, you know, obviously, I thought, like, we are just scratching the surface on on the reporting, and I think this is pretty this is pretty rudimentary reporting, as far as I'm concerned, but it's, you know, it's it's what we do on a on sort of a routine basis. But there's so much more functionality here that we just haven't even gotten into that, you know, we look forward to kind of playing with as we as we go along here and as we start to look at, our due activity from different angles. Yeah. That make that makes a lot of sense. I'm curious. Like, you had gone and showed a little bit of the pipeline, but it I'd love to see, like, how you structure some, like, the deal card to, like, feed into some of those reports and talk a little bit about how you manage all all of that. Sure. So we'll we'll go into one. I remember this is all the actual data is all dummy data, but, but the fields are this is how we structure our fields. You know, and again, the key here is, like, you can have as many fields as you want. I mean, maybe there's a cap somewhere, but you can do whatever you want here. You can structure them however you want. You can customize this as much as possible. A lot of the fields in here are pretty standard fare, like revenue and EBITDA and the project name and things like that. But we also have some unique fields in here. For example, strategic pillars is this is how we look at different deals. Is it more of a consolidation opportunity? Is it more of a transformative opportunity? So that's kind of unique to us. We have our line of businesses in here, and we recently changed a little bit how we what we call some of our lines of businesses. So we went in here and updated that. And, and the neat thing was I was worried that, like, all the old deals we had with the old lines of business attached to them, what will happen to those deals? And DealRoom just maintained those old, you know, those old names, attached to those deals. We're not getting error messages. We're not getting, like, NAs. It just maintained the data integrity for all the old stuff, but everything new going forward is under the new lines of business. And and we could go back and change the old ones too if we wanted to, but but now, like, at least all the data is flowing. The other thing we we created here, which I found really helpful, we we log all the NDAs in here, the the signature dates. And as anyone in corporate development knows, you have to sometimes sign as part of an NDA a non solicitation agreement. We all we all we all dislike it. We all we all have to do it. And it's really hard to track those as they start to pile up. All of a sudden, you might have dozens of companies that you can't recruit from for a while. So we created these fields in here to track, you know, is there a non solicit? When does it expire? And then we have the NDA right here if we need to read the specific language because there's always a little bit of nuance in the language. So this has been super helpful because we have no other place in Qualfon that I know of where we're tracking all of this in in in one place. So if someone from my legal team or my my people office wants to come to me and, hey. Do we have any restrictions around recruiting from such and such a company? I can easily go in here and just figure out if that's you know, if we do or not. I could also run a report on, like, all the NDAs that we have in place currently with non solicits. We haven't actually done that yet, but, like, that would be easy to do. So that's, that's been a really helpful thing to have in here. So, yeah, those are just some examples. And then as as as I understand it, New Zealand has a partnership with Apollo, which provides, data on companies and if and I believe that keys off the the company domain name up here. So as long as you've got the accurate domain name in here, it will populate some of this data down here from, from the Apollo, database. Yeah. That's right. So it sounds like you you all have that set up and we we do have a a partnership with Apollo. So if you you just put, like, the domain in there, it should populate any of those fields that you want to. There. That's that's awesome. Yeah. I looked at it sounds like, you know, both the way that you talked about, like, your pipeline, but even these deal cards, one of the things that you seem to like about our platform a lot is how, like, customizable and flexible it is. You showed a little bit of that with the with the pipeline, but I'd love for you to show us, like, that deal card that you just showed. How do you structure that and, like, how do you create, like, the different custom fields and groups and things like that? Yeah. I mean, I, you know, I think we saw a little bit about before, but, you know, in the in the settings here, it's super easy to just go in here and create those fields. You know, if you wanted to add a field, you could you can also you know, is it a number? Is it a date? You know, there's it's very it's very easy to do that. And, yeah, everything refreshes, like, very quickly. So super simple. And and I think the other thing to note perhaps is that you know, we came into DealRoom with a preexisting configuration. Some people might come in cold and have nothing and are starting from scratch. And, you know, as I I've always known, DealRoom has a lot of templates and playbooks and sort of, you know, starter kits, if you will, to help help people who are coming in cold, you know, sort of get, get a baseline set up, which I think is is really neat if you're coming from that position. Yeah. That's awesome. Well, thank you so much for for sharing all that. I'd love to, you know, kinda ask you a couple other questions. And, like, one of them is, well, like, what advice would you give other m and a teams that are actually considering a switch to DealRoom? Yeah. I mean, I think if you're on a preexisting platform and you're just not entirely happy with it for whatever reason, and worried about moving a lot of legacy data and records over, it can be done and it can be done fast and it can be done really well. So that was, that was my biggest you know, I thought it would be a pain point. Actually, it wasn't a pain point, but, that was my biggest worry. And and so I think if that's if that switching the effort of switching is holding someone back, I would say it's it's a nothing burger. Like, it could be done in a couple days. The other thing is I think if you're worried about, you know, people in your company adopting deal room I mean, change management is always hard. It's always challenging getting bunch of people, functional leaders to start using a new system they never used before. Deal room is once they're in it, they see that it's, like, super intuitive. It's very easy to use. It's all web based. Once they sort of get in there and start to use it, they tend to catch on really quickly and see the value very quickly of having everything in one place and being able to collaborate. And, you know, m and a is all about connecting dots and putting the puzzle pieces together. And the more or you can create that collaboration space for people, and they can see the value of it. I think it drives adoption really quickly. And then like I mentioned, I think there's a lot of there's a lot of templates and things that deal room can provide to help you get started if you're coming in with a completely blank slate. You know, and just, webinars like this and and others, like, DealRoom just develops a lot of content. I think you're not just getting onto a platform, you're kind of joining a community and getting access to all the those best practices, all that content. If you're a newer practitioner, that can be obviously really helpful. That's awesome. As as somebody who leads product, I love hearing stories about teams that easily adopt the software because that's what we're here to do. We're here to solve problems and make things a lot easier. I'm curious, like, now that you've been using it for for a bit, like, what are the positive outcomes you've seen from using the platform? Yeah. I mean, so far, it's been really easy for us to do our reporting. It's become a lot more automated. We can get, richer data out of the platform as well. As I said, we're only we're just only scratching the surface. I think we're gonna be putting a lot more now that everything's stable, we've only been on it for a couple months. And so now that we're all stable and sort of up and running, you know, the next the next stage with the pipeline itself is to, is to actually start to do more and grab more insights out of the data that we have. I think also just having everything in one place, has enabled us to, get to decisions more quickly on especially on early stage opportunities or things that have maybe been hanging out in a certain phase for, like, too long, and being able to just sort of make decisions and clean things up faster. So that's always you know, that always becomes a challenge when you've got things sort of hanging out as a prospect or as a maybe they're a partner. Maybe they were monitoring it and, like, two years have gone back. Like, it's easy to see, it's easy to see the DealRoom, like, where things are and how long they've been there and, like, okay. It's time to, like, fish your cock bait on these deals. So it has it has enabled us to, get to decisions more quickly on especially on the earlier stage opportunities. That's that's awesome. And what are, what are some things that you're hoping and to look for to add, like, future value, for the team through DealRoom? Yeah. So we we've only been on it for a short period of time here at Qualfon, but, we are definitely intending to use once we have a live deal, like, in in the depths of due diligence, use the due diligence, you know, project management capabilities of of, DealRoom and eventually the integration capabilities as well. So we're looking forward to, you know, piloting this on a live transaction with our functional leaders. And, you know, I've I've I've been there before in other places driving that adoption for the first time. So, you know, looking forward to kinda getting there with with the Qualfon team in the months ahead. But also looking forward to trying out maybe the AI summarization, tools. So, you know, I've never met a deal that didn't have legal contracts attached to it. Contract summarization and review is always a major part of diligence. And if you're dealing with a company that has, like, a high volume of contracts, that can be laborious and costly in terms of engaging, you know, legal staff and whatnot. So, you know, I've seen I've seen, some demos of Dealroom's AI, summarization capabilities. We haven't used it yet, but we're looking forward to maybe trying that out on a future transaction. That that's awesome. I'd love to you know, as you dive into some of these, like, future facing stuff, like, I'd love to get your feedback as you're as you're, you know, starting to use some of that stuff. So, you know, I'm I'm always here for for feedback and to, you know, to help walk you through, certain parts of the platform and stuff. So Yeah. I'm excited for you guys to dig in more, more on DealRoom. Well, this has been an awesome conversation, Christina. I I really appreciate you walking through, you know, your journey in in Mhmm. In transitioning over to DealRoom and getting value out of the platform. Mhmm. Looks like we got a couple questions that have popped up, and I'd love to get into start answering a couple of those if you have, with the time that we yeah. We'll do my best. Alright. So the first one, have you noticed any impact on decision making now that reporting is faster or more accurate? Yeah. I mean, definitely on, on early stage deals, getting to yes, no, thumbs up, down, you know, quickly. Also, just being able to show our internal stakeholders, different every transaction sort of side by side, we have to prioritize quickly. So it's enabled us to, you know, prioritize where we wanna put our energy and where we wanna just, you know, pass and move on. So we we look as I said, we look at a lot of deal flow. We might have 15 or 20, you know, deals in the pipeline at any given point in time, but we can really only spend time on three to five of them. So it it it definitely, it definitely helps us get there faster. Got it. That that's awesome. And I'm curious, like, how long would that process have taken before using Deal Room? Like, what what you mentioned a little bit about, like, you know, the old platforms being, slow to create reports and things like that. But how does it actually impact decision making? Yeah. I mean, we had when I first came in here, we had a lot of deals that were had been in the pipeline for, like, literally years. And so and no one was really accessing because we and because we had such, like, limitations on the seat usage, very few people could even access the pipeline. So there was no visibility into sort of what was there. Now we can we can give visibility to the people who need to know. We can allow everybody to see see everything in one place. And, and then, you know, it just sort of things jump out like, oh, yeah. This makes sense. Like, this deal here is the one we should be spending our energy on and, you know, these others we should move on from. So, just having, just having, all the data in one place, everything is up to date, we can get more people access to it if needed, you know, has been has been a huge help. That's awesome. That's awesome. Alright. So another question. Has there been a has there been a time when using DealRoom helped you spot or move a deal faster than you could have before? Yeah. I mean, definitely now that we have all historical records in there too, we've actually had a few transactions come through where, that predated me. Right? And so they come through and, oh, that looks like an interesting deal. But maybe did we see this before? And we go into a DealRoom and, you know, pull up the historical record that's in there and, oh, yeah. We actually saw this, like, two years ago, and we we went down the rabbit hole and we ended up passing for this reason. And so, you know, something that we might have that we might have spent more time on and might have sort of we we created a wheel on because I wasn't here the first time. Now it's a quick, like, oh, we already saw this. We already know what the issues are. We're moving on. So just being able to go into the archives and and grab grab some of that legacy stuff has been has been helpful just as an example. Got it. Got it. That that's awesome. Alright. Does glue deal sorry. Does deal cloud have a prompt or agent to ask questions about a deal or docs? I can take this one. So, as Christina mentioned, we have, inside of, inside of DealRoom, especially in our our due diligence, tools, we have a set of AI, functionality that we've been, like, working on, and it does a couple different things. One is it can actually go through and summarize documents. So you can apply different kinda templates against the documents. So let's say you have employee contracts. You could, you could set some templates to try to extract, you know, different clauses in the employee employment agreements or things like that, or maybe they're you're looking at leases and and stuff. So you can apply different templates to tell the AI what sort of data you're trying to extract out of it. Then it'll run through and and process those documents and automatically categorize and summarize that doc those docs into, more structured data around, like, what you're actually looking for. And that's one thing that we've, like, heard a lot from customers around, you know, you put data into a data room, but it's all unstructured and, like, the full the files themselves are structured, but the data you're looking for is all in these unstructured formats buried, like, deep down in docs. So what we try to do is surface that in a much easier to use, and easier to find kind of format. So we create these, like, data tables of the summaries of of all of that. And then the third bit, which we just launched about a month ago, that we've been testing out a lot and and feel really great about, is you can also actually chat across all of your documents. So you can ask questions and say, like, hey. What I wanna be able to do is actually, find what are some risks that are associated with, you know, all of my leases and things like that. So this has been an area that we've been, that we've been, focused a lot on is how can we, you know, leverage AI to help you, as, you know, corp devs and deal makers extract insights out of, out of your deals while you're doing due diligence. I think there's a question here also about is it an act as a CRM? I'm happy to take that a little bit. Yeah. I mean, in effect, yes. This is our CRM for m and a. We, we're able to log, contacts in here. We're able to log email correspondence that we've had with, so it's really as much as, you know, whatever you want, however you wanna use it. But it does start to look and feel like a Salesforce, you know, pretty soon where you're you're sort of logging all the interactions and and status updates and things on on opportunities. You know, like any platform, it's, you know, it's as good as what you put into it. So, but you I mean, from my perspective, it is a CRM that's, you know, tailor made for M and A interactions. Would you agree with that, Jesse? Or Yeah. Yeah. I Yeah. That that's exactly how how I see. Our our pipeline tool is basically what we wanna do is make it, like, the easiest way for for, you know, corp devs and dealmakers to to organize, track, and prioritize, like, the deals. And that looks a lot like a CRM because you're pulling all the information in context you know about that target together. And we give you not only, like, the information, but as as you showed the, you know, the ways to track communication between, between the the target customers and and stuff like that. And, like, continuously kind of, like, enrich and refresh the data to keep things, to keep things present. Mhmm. Alright. So, this is gonna be our last question. How do you envision how do you envision you utilizing DealRoom, especially the diligence capability in a bank banker led process or any process where another external another external room already exists? Yeah. So, I mean, you can, you know, if there is no other data room, you you can use DealRoom as a data room. I've seen that done many, many times. But, you know, we are typically, as as much as we try to be buyer led, we are looking at a lot of banker led deals as well. And so there there is typically an external data room in that case. So in that case, we're using DealRoom. You know, we intend to use dealing at least on the diligence side as a collaboration tool. And we might have our due diligence checklist in there, and then we might set we might put in there where, you know, where the responses to that checklist are in the banker led data room. So, you know, we can do we can do cross referencing and things like that. But, just because there's an external data room doesn't mean that, DealRoom isn't gonna bring value. The the main value of DealRoom for us is in the collaboration between the functions and ensuring that we're getting access to all the information that we need, that we're, like, documenting issues, that we're assigning owners, internally to resolve to investigate and resolve those issues. And then eventually, when a deal gets to integration, you know, you can create an integration checklist in there of all the tasks that need to happen with owners and due dates and, dependencies and all of that good stuff. And and the functionality there is really rich as well. So, so it's really it's really project net. I mean, we're not using it for that yet, but I I can speak to that quite a bit because I've used it in that way in my prior life. And I know all that functionality is there. I'm looking forward to getting both on, you know, adapted on those aspects of it. But, it's it's really a project management and collaboration tool. And if you need to use it as a data room, you can do that too. I've actually done that in the past on some really small, proprietary transactions where, you know, it was a choice between this or, like, SharePoint. And DealRoom just has much better, like, permissioning and and security and things like that. If you wanna use it as a data room on a, you know, on a simpler deal, it's it's very easy to do that too. That's awesome. Well, that's a wrap. Christina, thank you so much, and thanks thanks to all of you who, you know, joined the session and asked questions and stuff. And if you enjoyed today's session, let's make sure you join us, next week at the annual buyer led m and a virtual summit. We'll put a link, to the registration in the chat or you can scan this QR code on the screen to register. And really excited about it and see you at the next one. Thanks, Jesse. Thank you.