Background

Price Sierakowski Corporate is a leading, boutique commercial law firm with expertise in high level corporate work, including capital raisings, mergers and acquisitions, resources and energy, reconstructions and litigation. Price Sierakowski Corporate clients encompass professionals, directors and growing small to mid capitalization companies whereby the firm delivers better experiences through strong connections with clients and staff with its “Allied to your interests“ approach.

This philosophy is a promise that an enduring relationship with Price Sierakowski Corporate will achieve real commercial results through strong connection between lawyer and client that leads to the deep understanding needed to offer truly valuable counsel; counsel that delves beyond top-of-mind thinking into insightful, proactive advice.

Situation

Leading a cross-border IPO with an overseas client and advisors posed a challenge for Price Sierakowski. It was difficult to incorporate a transparent and collaborative approach to this engagement because of the ineffectiveness of exchanging important transactional documents via email. The Price Sierakowski team wanted to give full access to their IPO transactional framework, allowing key stakeholders visibility of the full scope of work, plus progress of the transaction and relative document updates completed by all parties concerned.

Workshare partner, Nick Goldrick of Go5Plus, said “Workshare Transact was identified as the best fit SaaS technology for Price Sierkowski’s cross-border IPO not long after our initial engagement.

“The key driver that made Transact viable was Workshare’s agile and flexible commercial model, whereby clients onboard with Transact within 40 minutes and pay for Transact when it’s being used. This made perfect sense to Price Sierakowski and was a perfect fit to assist the Perth-based M&A law firm scale and grow their business.”

Connor Graham, Senior Associate of Price Sierkowski, confirmed “Workshare Transact will assist in the due diligence process enabling the firm to launch, pivot and scale transactions when all parties are ready.”

Solution

Workshare Transact was adopted in an expedient manner, whereby Price Sierakowski incorporated their IPO transaction checklists, leveraging the firm’s IP for a successful IPO. The required stakeholders were invited to the collaborative workspace and given appropriate access to the relevant sections of the checklist.

With the availability of the online tutorials and the design of Transact, internal and external personnel working on the IPO were online and productive within a very short period of time. Documents were collaborated on during the drafting stage and with the use of the audit function and embedded document comparison engine, a full log of access and file updates were available in Transact.

As the transaction progressed, the online IPO checklist was updated with status, notes and supporting schedules for review and for the stakeholders to be aware of remaining sections outstanding and overall progress of the IPO work.

Shaun Locke, GM Asia Pacific of Workshare, concluded “We’re delighted that Price Sierakowski embraced this innovative approach to running their cross-border IPO. There are significant cost savings using a collaborative approach via Workshare Transact. As well as benefits like secure online collaboration that limit the number of sensitive files exchanged over email.”

Simon Jenkins, Director of Price Sierakowski Corporate, “We have been really impressed with Workshare and go5Plus with the introduction of Workshare Transact. We imported our firms IPO checklist in no time and were up and running, collaborating with our client in a really effective manner. Workshare Transact is very intuitive to use and we estimate we saved our client in the vicinity of $15,000 using the technology on this matter.”

www.pricesierakowski.com.au

www.workshare.com/transact

www.go5plus.com