morehead from complex and costly legacy data management
Morehead Capital is a Raleigh-based investment partnership focused primarily on the restaurant and technology industries. Based on years of experience investing, Morehead has built out an extensive network of service providers, industry contacts and potential business partners that they can call upon. Morehead Analyst Dan Nifong says this network is a key differentiator for their firm. “Relationships are everything in our business,” he says, “our contacts introduce us to acquisition candidates, they help us close transactions and they enable us to be valuable partners to our businesses post-close.”
Historically, database management had been a headache for the team at Morehead. They were using a CRM system that allowed for significant customization, but over time, customizing the software proved expensive and time-consuming. The underlying platform was simply not specialized enough to handle their specific needs related to the restaurant and retail industries.
“We ended up launching a custom project for almost every additional functionality,” says Nifong. “We needed something that was flexible enough for us to build in our own customization, but at the same time scalable enough that we didn’t spend 20 or 30 hours each time we wanted to make an enhancement.” In addition to their own time spent managing the legacy system, Morehead was performing code-level work. Maintaining the database turned out to be a big distraction and a significant expense.