In times of digitalisation, people are inclined to question all processes. Automation is the keyword. But what does that mean for company succession or the sale of a company? Can these processes be digitalised and automated? Will we only sell companies digitally in the future. Via portals?

The idea is not new. In times of the internet and the ever-improving “standard software”, a portal is quickly online. Build up a community and handle processes automatically. This development does not stop at the topics of company succession, company sale and company purchase. In other words: there are enough portals. This means that entrepreneurs who are selling their businesses have a wide range of opportunities to conduct their personal “exit” digitally. However, when it comes to these topics, companies do not only consist of products, services and assets. In short, they consist primarily of people.

What can be digitised?

Nevertheless, digitalisation can also offer many advantages and opportunities in non-technical industries. The processes surrounding the sale of a company are largely “normalised”. This means that all parties involved, such as advisors, lawyers and co. adhere to certain rules and procedures. For example, at an early stage, the setting of the offer and the dealings with interested parties - up to the initial personal meeting - can be excellently digitalised and automated. Especially the milestone due diligence offers a good breeding ground for digital support. This means that the digitalised processes can lead to faster access to the market and ultimately to a faster succession solution.

Where are the limits of digitalisation?

There can be no clear answer to this. Every company is different. Consequently, no blanket statement can be made here. There are certainly business models that can be sold purely digitally. However, it is doubtful that these processes can manage entirely without human interaction. In the case of a successful end to the process, an analogue presence must be realised at the latest at the notary. ? .

Experience shows that business succession is a very personal and highly emotional issue. This cannot be (completely) replaced by digitalisation. The company is handed over from one person to another - always. In between, there will be many personal conversations, emotions and negotiations. This can only be managed by a well-trained advisor or companion. This means that people will continue to be the most important building block in the succession process. And that is a good thing.