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The Adviser gives an overview of business planning
software.
Dear Small Biz
Adviser:
I am looking for information regarding software packages
for business mergers, acquisitions and strategic alliances.
Can you help?
Regards,
Chris
Dear Chris:
Having researched your inquiry, I come back to the table,
my initial thoughts being reinforced with some added information
that will help you along with the process of mergers, acquisitions
and strategic alliances.
Twenty years after my first marketing plan and
16 years after my first business plan, I have witnessed the proliferation
of marketing and business planning software, especially in the last
10 years. I do have personal preferences, but they are based on
a combination of four interdependent factors:
- The level of sophistication my client demonstrates
in his or her knowledge regarding the nature of business planning
and the elements comprising the document;
- The intended reason for planning (startup,
expansion, retention, joint venture, etc.);
- Ease of use by the client and me; and
- My personal methodology in developing plans.
In other words, this response is not intended
to endorse one product over the other. Rather, I want to make you
aware of a variety of different products on the market, their features
and where you can access further information about them.
By the way, I am on the Experts Panel for one
of the companies -- Palo Alto Software -- and I have an affiliate
arrangement with that same company. But I have an obligation to
readers to be objective in my evaluations.
Furthermore, and Palo Alto knows this, I do
not believe that any one software application is good for all customers.
Each application has characteristics consistent with the methodology
of certain types of users. For example, there have been times I
simply created the plan from scratch in a word processing and spreadsheet
application.
With that said, let's consider the more prevalent
programs.
One of the most popular business planning products
is Business
Plan Pro by Palo Alto Software.
Its most notable features include a two-window screen that presents
you with each section of the outline, describes the nature of the
information being requested and then automatically calculates the
financial data into a set of financial statements and schedules.
Business Plan Pro is full of optional graphics
and charts, and allows for adapting the table of contents. Palo
Alto also provides Marketing
Plan Pro, which may be more helpful for developing strategic
alliances that preserve the mutual independence of each partnering
company. Cash
Plan Pro is a financial planning software application that can
be used in the small business or corporate environment.
JIAN's
Biz
Plan Builder is considered the major competitor to Business
Plan Pro. JIAN promotes a template format that reduces your need
to develop the text content. The template provides a predetermined
text with locations where you insert specific information regarding
your specific project. Like Business Plan Pro, it also provides
a template of financial statements and schedules automatically generated
with data you insert when prompted. JIAN, to the best of my knowledge,
was the first application to extend financial projections to five
years. Additionally, JIAN offers Marketing
Builder, Agreement
Builder and Get
Organized, which may address specific issues related to mergers,
acquisitions and strategic alliances.
Another excellent program, developed overseas,
is B-Plan
International's Business
Planner. A more sophisticated version offered by B-Plan, in
conjunction with Macmillan Digital Publishing, is Business
Plan Writer Deluxe. I
have not used that specific application, but B-Plan provides the
same basic offerings found in the competitors' versions above. However,
it distinguishes itself with the generation of U.S. and European
financial reporting systems.
SmartOnline,
originally a brainchild of the American Institute of Financial Research,
offers Smart Business Plan. Like its counterparts, this product
offers all the basic elements, including templates from which you
may prefer to develop your plan. Unlike the competition, SmartOnline
incorporates marketing and business plans in the same application.
Perhaps its most outstanding element is the provision of several
online services to which you can subscribe on a per-use basis or
for a monthly fee of $14.95. My favorite is the Smart Market Research
tool, which compiles market research data globally and for the United
States by region.
There are other applications to choose from,
but these are perhaps the better-known offerings.
Another element you may want to consider is
contracting the services of firms that specialize in consulting
services for mergers, acquisitions and strategic alliances. For
example, Agreement
Design is such a consulting firm that specializes in the IT
industry. Unless you are a self-employed consultant, it may be worth
your time to search the Internet for many of the merger-and-acquisition
consulting firms. I wouldn't be surprised if many of them use applications
developed in-house or specifically modified to their specific methodology.
Bankrate.com writers base their answers on our editorial
content and advice of financial professionals. We make no claims
or representations about the accuracy, timeliness or completeness
of such content, advice or the answers provided to you. Our content,
advice and answers are intended only to assist you with your financial
decisions. However, by its nature such information is broad in scope.
Your financial situation is unique, and our content, advice and
answers may not be appropriate for your situation. Accordingly,
we recommend that you get different opinions and seek the advice
of your accountant and other financial advisers before making any
final decisions or implementing any financial or investment strategy.
-- Posted: May 30, 2000
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