There is usually a smart way and a hard way to do things. This universal truth also applies to alternative asset management firms who are trying to raise capital. So often, they are raising capital the hard way.
The hard way involves wrestling with generic platforms in order to create reports or dashboards that present interest levels, investor types, and investment probabilities on the same screen. Sometimes, business development teams have to ask their software vendor to code “custom” views for them – submitting a ticket and wasting weeks to months in the process. Or worse yet, they are wading through spreadsheets on shared drives that multiple individuals admirably attempt – but ultimately fail - to update.
The smart way to capital raise? Backstop’s agile new Pipeline Manager capability. When we say “agile,” we mean that the user – YOU – can fully configure your pipeline views, without breaking stride.
With the ability to configure personalized views of the overall pipeline as well as that of each individual representative’s, Pipeline Manager helps business development and sales and marketing teams easily gain answers to these crucial questions:
- What’s in my pipeline?
- What is my pipeline worth?
- What is my expected raise, based on probabilities at each stage and average ticket size?
- How aged is my pipeline?
- Which opportunities are closest to closing?
- Which deals should I prioritize?
- Do just a few deals comprise the majority of my raise?
- How can I most efficiently work my pipeline by geography or territory?
- In which order should I visit prospects when headed to New York or Los Angeles or anywhere on Google Maps?
- Are there opportunities that are past due (in terms of next steps or actions that need to be taken)?
- How can I easily update my pipeline or make changes without having to click multiple times into an opportunity just to edit a field?
- And more…
If you’re a business development leader, you’ll also want to generate rolled-up views – on the fly - of your team’s pipeline and be able to slice and dice it any way you want – by geography, by investor type, by expected close date, by opportunity stage, and so on and so forth. Sort and filter, drag and drop – you can use Pipeline Manager with ease. Best of all, Agile Pipeline Management comes at no extra charge. Some people enjoy wrestling with generic, inflexible software platforms. That’s okay. They probably also like standing in lines and sitting in traffic jams. But if you want to raise capital the smart way, consider Backstop. We’re here to help – 312-277-7701.