External Collaborators on Dealpath: 5 Things You Must Know

external collaborators dealpath
Matt Carrigan

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Among other goals, Dealpath’s aim is to help deal teams build efficiencies by standardizing processes. There might be dozens or hundreds of boxes to check on a single deal, from early vetting to due diligence and underwriting, but not all of that work rests on your team’s shoulders. External deal stakeholders like brokers, environmental teams and others also play a crucial role throughout the process. Providing these external collaborators selective access to Dealpath allows them to submit deliverables or information directly to the deal, minimizing emails. Read on to learn more about how you can streamline processes by working with external partners in Dealpath.

1. What Are External Collaborators in Dealpath?

As deals move from source to closing, your team needs expert input from third parties at multiple touchpoints. Rather than requesting this information via email, Dealpath enables you to add external collaborators as users with limited capabilities. With selective access to Dealpath, third parties can log in and submit the work assigned to them directly.

2. Who Should I Add as an External Collaborator?

Anyone who needs to collaborate on a deal with you, whether by requesting, providing or reviewing information, can be added as an external collaborator. While not a requirement, adding partners to deals ensures that everyone can work in the most efficient way.

3. What Can External Collaborators Do in Dealpath?

External collaborators won’t have the same range of options that Dealpath users inside your organization will, but they can still contribute to deals in meaningful ways. These are some of the most common ways in which leading investment management firms on Dealpath collaborate with external partners:

  • Submit information and deliverables like up-to-date data, reports, documents, and more
  • View and download information that they need to accomplish their work, without sending an email request to your team
  • Review deal information and communicate about any comments, feedback or insights they might have

4. Why Should I Work With External Collaborators?

Adding external collaborators in Dealpath can build efficiencies throughout your process:

  • Remove work from your team’s plate: When external collaborators can submit deliverables or information directly, your team can reduce time spent communicating via email
  • Build clear, real-time accountability: Assign tasks directly to third parties, maintaining clear visibility task ownership
  • Keep third parties on track for deadlines: When tasks are assigned, third parties will receive automated reminder emails about upcoming and overdue tasks
  • Reduce human error: By uploading data, files or information directly into Dealpath, adding external collaborators reduces the potential for miskeyed information
  • Maintain records: Instead of referencing scattered email threads, working with external collaborators keeps a real-time record of all activities for posterity

5. Can They Access All of Your Deals?

Third parties might have critical information to contribute for specific deals or projects, but that doesn’t mean that they need access to browse your entire pipeline. For this reason, Dealpath restricts external collaborators’ access to deals that you’ve granted them access to. 

As a result, they won’t be able to freely browse other deals in your pipeline; only view and upload information that you’ve designated as their goal. This keeps your proprietary data safe from those who don’t need it, while making it easier to collaborate.

When you create new deals with task assignments based on roles, these third-party collaborators can be dynamically assigned to relevant tasks, without requiring additional input on your end.

Build New Efficiencies By Working With Partners in Dealpath

To learn more about how you can streamline your workflows by adding external collaborators in Dealpath, speak to your Customer Success Manager.

If you’re not currently a Dealpath customer, request a demo to learn how Dealpath simplifies cross-team collaboration.

Matt Carrigan

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