The Heritage Group

Alex Ray, Vice President at The Heritage Group, talks through why they selected 4Degrees, and the improvements they’ve seen in operational efficiency and relationship management as a result.

“4Degrees has been very impactful from a sourcing standpoint for us as we proactively go after different targets and look for warm introductions to build those relationships.”

– Alex Ray

4Degrees streamlines sourcing, relationship building, and portfolio support –
tailored to the unique needs of private investment firms.

Challenges

Lack of automated systems and visibility, leading to hours spent on manual data entry and missed opportunities.

Goals

Reduce manual effort, and increase understanding of team connections and activity.

Results

Multiple hours a week saved per team member, while driving improved sourcing efficiency.

The Challenge

As a diversified private investment team (across Private Equity, Venture Capital, and operating companies), the Heritage Group team recognized their relationship network was a critical asset for them – particularly for sourcing and evaluating investment opportunities.

However, the systems they were using (Outlook, Dealcloud), did very little upkeep of static records – which required hours of manual effort a week to upload meeting and email activity, track company data, and also to maintain accurate work experience and other contact information about their network.   

In addition to requiring significant effort, the lack of automated systems also lead to a deterioration in the quality of the data – because the work was manual, people didn’t want to put in the time to do it.  That deterioration meant that it was hard to take advantage of the research and connections of their other team members to accelerate their own sourcing and investment decisions.  

The Solution

The automation behind 4Degrees (email and calendar integration, alongside deal and contact enrichment) meant that the Heritage Group team could meaningfully reduce the amount of time they spent on data entry.

In addition, they saw the promise of quickly understanding their network across their investment teams, which was something they had historically had trouble doing, and found to be powerful.

Those two elements were also combined with the ability to interact with the platform from Outlook, enabling easy access to (and modification of) their contact and deal data without needing to switch screens constantly.

The Results

One of the biggest benefits the Heritage Group team realizes is multiple hours a week of time savings, enabling the team to spend valuable energy (on Friday afternoons!) on more critical tasks:

“I save multiple hours every week from having to log calls, emails, and deal information.  That would typically be my Friday afternoon – end of the week, you would always dread having to put all of that in, and now it just flows into 4Degrees.  There was no executive assistant or team member spending time putting that in – we flipped a switch, and got 90-95% of data entry completed about our interactions.

In addition, 4Degrees creates meaningful internal visibility about where the firm has relationships and who is working on what deals across team members, without much effort.

“Before, we didn’t have as much connectivity across our teams. But with 4Degrees, for example, I was able to realize that our venture team was working on a pretty similar transaction to what I was and had a good read on the space that I was able to tap into.  Without 4Degrees, I would have never known.”

“The way it scores and categorizes relationships is also super helpful.  We’re a pretty big organization, so the ability to quickly identify internal and external experts and ensure sure we’re deploying capital in a thoughtful way is very valuable for us.”

About The Heritage Group

The Heritage Group is a fourth-generation, family-owned, and privately held business managing a diverse portfolio of operating companies in heavy construction and materials, environmental services, and specialty chemicals. They employ thousands of people around the world, with operations across North America, Europe, and China.

Visit The Heritage Group

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