Powering Deals in 2024: Top Investment Banking Software and Tools

Updated: Mar 27 ‘24 Published: Mar 27 ‘24 19 min read

The global digital landscape is rapidly evolving. The latest data shows that world spending on digital transformation is expected to reach a staggering $3.9 trillion by 2027. Indeed, digital transformation is already a necessity rather than a luxury for businesses and organizations that want to be on top of the competition. 

It’s especially relevant for the finance sector: usage of digital tools plays a significant role in the M&A deal process efficiency or investment banking procedures effectiveness.

In this article, we focus on how the usage of digital services can improve investment banking operations. So, what software do investment bankers use to stay competitive and efficient? Keep reading to find out.

Investment banking software essentials

Let’s start with a brief definition. 

Investment banking software is basically software used specifically for investment banking needs. Such investment banking software solutions offer various features and services that aim at investment banking automation and help investment bankers do their jobs faster and more effectively. 

Investment banking tools can be of different kinds, depending on the investment banking tasks. Below are the main features that investment banking professionals expect software to have:

  • Data analytics. Since investment bankers work with large datasets and need to analyze them efficiently, software for investment banking should offer advanced data analytics capabilities. It helps in financial modeling, risk assessment, portfolio optimization, and investment strategy development.
  • Real-time collaboration. An ability to collaborate in real-time with other team members is essential for investment bankers. Thanks to collaborative workspaces, chat functionalities, document sharing, and version control features, investment professionals can work together on financial models, pitch decks, and client presentations in real time. This can significantly enhance productivity and accelerate decision-making.
  • Financial modeling services. Financial modeling is an essential part of investment bankers’ job, and software for investment banking can significantly help with it. Such tools offer pre-built templates, customizable formulas, and scenario analysis capabilities. This streamlines the process of building complex financial models for valuation, M&A analysis, capital raising, and strategic decision-making.
  • Strong security measures. Since investment bankers work with lots of client’s sensitive data, it’s also important for them to guarantee its security and confidentiality. This is especially essential due to the high risks of sending sensitive information via email. That’s why modern tools for investment banking should also be 100% secure and ensure strong security measures, such as multifactor authentication, encryption, and access controls.

Top investment banking software and tools

Now, let’s review the top tools for investment banking based on their purposes. We’ll analyze a few investment banking software products in the following categories:

  • Deal management platforms
  • Financial analysis and modeling tools
  • Collaboration platforms
  • Client relationship management (CRM) systems

Deal management platforms

Deal management platforms are tools that are used to streamline transaction processing. The best example here is virtual data rooms (VDRs). These are cloud-based repositories for data storing and sharing that also provide collaboration and analytics capabilities. The distinctive feature of VDRs is the high level of data security they ensure. 

Let’s now briefly review the top vendors on the market.

📌 iDeals 

iDeals is a leading virtual data room provider with more than 15 years of experience. iDeals data room for investment banking simplifies the process of secure file sharing for financial services and corporate deal management during M&A or other investment banking activities.  

Based on our observations, iDeals customers especially appreciate the tool’s user-friendly interface, professional customer support, and level of provided security. What’s more, iDeals offers collaboration services such as Q&A sections or comments that allow for effective collaboration on documents and files in real time.

Key features🔸 8 levels of access permissions
🔸 In-app live chat support
🔸 In-built redaction
🔸 Auto-notifications for new activity
🔸 Advanced Q&A section

📌 Datasite

Datasite is another virtual data room provider that focuses on streamlining M&A deals and investment banking operations. It has operated since 1968 and has served clients from about 180 countries.

Except for the M&A-dedicated features such as Q&A workflows, deal preparation services, or due diligence checklists (learn more about what is financial due diligence checklist in our dedicated article), Datasite also allows firms in capital markets to get AI-driven insights on the data with the help of in-built AI capabilities.

Key features🔸 5 levels of access controls
🔸 Optical character recognition (OCR)
🔸 Customizable dynamic watermarks
🔸 Automatic index numbering

📌 Firmex

Firmex is a Canada-based virtual data room provider with about 18 years of expertise. It has served 4,200+ customers in 110 countries around the world. 

Thanks to such services as advanced user management, auto-indexing, and Q&A functionality, Firmex is widely used for investment banking operations.

Key features🔸 Single Sign-On
🔸 “View As” feature
🔸 Redaction
🔸 Q&A section

Financial analysis and modeling tools

Financial analysis and modeling are one of the key responsibilities of investment bankers. And, based on our experience, dedicated software tools can substantially improve that process and make it less time- and effort-consuming. 

Let’s review the top three common financial analysis and modeling tools.

📌 Capital IQ

Capital IQ is a product of S&P Global. It’s a financial data and analytics platform that’s often used by investment bankers for its comprehensive data on public and private companies, financial markets, transactions, and industry insights. It allows investment professionals to effectively perform a financial analysis of the industry and decide on specific investment strategies. 

What’s more, it allows for effective financial modeling based on the data provided.

Key features🔸 AI-powered document viewer
🔸 Access to real-time market prices
🔸 Smart search
🔸 Watchlists and notifications

📌 Microsoft Excel

Microsoft Excel is probably the most common tool used for financial modeling in the investment banking industry. 

Investment banking professionals use Excel to build complex financial models to evaluate potential M&A deals, create financial forecasts, and assess the performance of various investment opportunities. Excel’s features, such as formulas, functions, pivot tables, and charts, enable bankers to manipulate large datasets efficiently and present findings clearly and concisely.

Key features🔸 Advanced formulas
🔸 Data visualization
🔸 Pivot tables
🔸 Graphs and charts

📌 Bloomberg Terminal

Bloomberg Terminal is a comprehensive investment banking tool that’s used for its market data, news, research, and real-time analytics. 

Investment bankers enjoy Bloomberg Terminal its extensive coverage of financial markets, including stocks, bonds, currencies, and commodities, as well as its advanced charting and analytical tools. It helps investment professionals to analyze large volumes of market data faster and, thus, accelerates decision-making.

Key features🔸 Collaboration tools
🔸 Publishing capabilities
🔸 Charts
🔸 Portfolio analytics capabilities

Collaboration platforms

Productive and timely collaboration of all the parties involved in the deal often contributes to half of the deal’s success. That’s why it’s so important for investment bankers to be able to connect in real time to catch up on certain issues and ensure that the transaction goes smoothly. 

Some of the most common collaboration tools used by investment bankers are described below. 

📌 Slack

Slack is a cloud-based app for businesses to connect in real-time on the information they need. It allows investment bankers to create channels dedicated to specific topics, teams, or projects, enabling seamless communication and information sharing among team members and across different departments. 

It also integrates with most of the modern business apps, which makes it even more universal.

Key features🔸 File sharing
🔸 Instant messaging 
🔸 Huddles for audio or video calls
🔸 Canvas

📌 Microsoft Teams

Microsoft Teams is a collaboration software for conducting meetings and audio and video calls.

It offers a range of features including chat, video conferencing, file sharing, and integration with other Microsoft Office applications, making it a versatile tool for investment bankers to discuss market trends, share research insights, and collaborate on financial analysis and presentations in real-time. Investment professionals can create channels dedicated to specific deals or topics, enabling seamless information sharing and collaboration among team members.

Key features🔸 Group calling
🔸 Voicemail
🔸 Suggested replies
🔸 Shared task lists

📌 Zoom

Zoom is the most common tool used for video conferencing needs. 

With its help, investment bankers can facilitate virtual meetings, presentations, and discussions with clients, colleagues, and stakeholders worldwide. It offers features such as high-quality video and audio, screen sharing, and webinar capabilities, which makes collaboration even more effective.

Key features🔸 Team chat
🔸 Online whiteboard
🔸 Workspaces
🔸 Video recording

CRM systems

Client relationship management systems help companies keep track of their interactions and relationships with customers. With a CRM system, businesses can better understand their customers’ needs and behaviors, improve communication with them, and ultimately build stronger and more profitable relationships. 

Obviously, such a tool is indispensable for investment bankers. Let’s review the top three CRM platforms on the market.

📌 Salesforce

Salesforce is one of the most common CRM platforms used by investment bankers. It allows them to manage client relationships, track deals, and streamline sales processes. They leverage Salesforce to centralize client data such as contact information, interactions, and deal history. With it, they can have a comprehensive view of client relationships.

Key features🔸 Pipeline tracking
🔸 Reporting tools
🔸 Task management
🔸 Customizable financial dashboards and reports

📌 Affinity CRM

Affinity is a go-to CRM solution in investment banking. It aims at helping investment bankers to optimize deal sourcing, relationship management, and deal execution processes. 

Affinity CRM uses AI algorithms to automatically capture and organize data from emails, calendars, and other communication channels to provide a comprehensive view of client relationships and deal pipelines.

Key features🔸 Email integration
🔸 Network mapping
🔸 Data-driven analytics
🔸 Dashboard

📌 Pipedrive

Pipedrive CRM platform is designed to help businesses track their sales pipeline and automate the entire sales process.

In investment banking, Pipedrive is widely used to manage deal pipelines and optimize sales processes. Pipedrive helps investment bankers streamline their sales workflows, prioritize deals, and stay organized, improving efficiency in deal execution.

Key features🔸 Deal card customization
🔸 Mentions and comments
🔸 Email scheduling
🔸 Deal reports

Integrating new tools into existing workflows

Finding a great investment banking software to streamline day-to-day operations is only half the battle. What matters even more is the way investment banking firms integrate it into their existing operational workflows. 

Here are some crucial aspects to take into account on that way:

  • Planning and assessment. To choose the most fitting software, you first need to assess the bank’s current workflows and pain points. This will highlight certain areas for improvement and allow searching for possible solutions among popular software products.
  • Stakeholders engagement. Ensure that key stakeholders from different departments are involved in the decision-making process to get their buy-in and support for the new software implementation.
  • Continuous training. To guarantee seamless usage of the software by all the team members, an investment bank should ensure comprehensive training sessions and tailored training programs depending on the specific needs and skill levels of different user groups.
  • Change management. To minimize disruptions and resistance to change, an investment bank should implement a structured change management process and clearly communicate the reasons behind the software integration.
  • Pilot testing. Conduct pilot tests or small-scale implementations of the new software in select departments or teams before rolling it out organization-wide. It’ll help to assess the potential outcomes of the software usage or detect the gaps to address.
  • Regular evaluation and optimization. The success of software integration greatly depends on continuous assessment and, thus, optimization. This helps to maximize the value of the software investment. 

Key takeaways 

Let’s summarize the key points from the article:

  • Investment banking software is the software used in the investment banking sector to streamline its operations and day-to-day tasks.
  • Investment banking tools can be of different kinds, depending on the investment banking tasks. The main categories include deal management platforms, financial analysis and modeling tools, collaboration tools, and CRM platforms.
  • Some of the most common investment banking software products include iDeals, Slack, Salesforce, and Capital IQ.


The most common security features investment banking software should have are strong encryption, multifactor authentication, access controls, real-time monitoring, and data centers in different locations. Additionally, software products should comply with the latest data privacy laws and regulations and have relevant certifications.
AI-driven capabilities of investment banking software enable quantitative analysis, risk management, algorithmic trading, portfolio optimization, predictive analytics, natural language processing for sentiment analysis, and client services through chatbots. This can significantly streamline day-to-day investment banking operations and, thus, facilitate decision-making.


Marketing specialist at datarooms.org

Elisa is a marketing specialist with 15 years of experience. She worked for many VDR brands and gained insider knowledge of the industry.

At DataRooms.org, Elisa conducts marketing research, develops content plans, supervises content teams, and develops VDR review methodology. She envisions her mission as distributing accurate knowledge of virtual data rooms.

“My mission is to deliver accurate and relevant knowledge of virtual data rooms to as many people as possible.”

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