Salesforce Migration Improves Sales Pipeline Efficiency for Private Equity Firm2018-10-30T00:29:55+00:00

Salesforce Migration Improves Sales Pipeline Efficiency for Private Equity Firm

How an alternative business lender captured more sales and improved partner relationships.

Sales Cloud, Service Cloud

In many ways, the success of a private equity firm depends on the strength of its partner relationships. In an effort to better track submissions from partners and make sales pipeline tracking more efficient overall, Fund-Amental Capital knew it had to migrate disparate and dated tracking methods into a streamlined solution for better tracking and management.

About Fund-Amental: Based in New Jersey, Fund-Amental Capital specializes in financing and debt restructuring for small to medium-sized businesses throughout the United States. It provides fast, flexible working capital for companies of any risk and credit level.

Fund-Amental Capital knew it had to migrate disparate and dated tracking methods into a streamlined Salesforce solution.

Inefficient Tracking Leads to Lost Business

The team at Fund-Amental Capital was using a homegrown customer relationship management (CRM) tool to track lead submissions and customer data. This was mainly comprised of adhoc tracking for various email messages and Excel spreadsheets.

This was far from the comprehensive solution that a scaling private equity firm needs, which made it difficult for the sales and underwriting team to reference customer information and any terms that were offered during previous customer interactions.

  • No consistent way to track submissions received from partners
  • Only processing a percentage of deal submissions received from partners, leading to lost business and frustration
  • Limited visibility into where submissions came from and whether or not deals were funded or declined, causing problems for underwriting
  • Difficulty handling multiple submissions from the same merchant, leading to inaccurate attribution

With no way of knowing who Fund-Amental received certain applications from, for example, the team had perform time-intensive, manual searches, often to no avail. This created a reactive environment that not only led to missed sales opportunity, but proved detrimental to partner relationships.

Better Submission Routing, Automated Stipulation Management

In cooperation with the Cloud Square implementation team, Fund-Amental performed an on-site business process review. Together, the team scoped out a new, Salesforce-based system capable of more efficiently tracking submissions throughout the entire sales cycle. After completing a comprehensive review, the team developed a tailored solution to address two key process and efficiency opportunities:

  • Routing email submissions from partners directly to Salesforce – A custom email tool was built to automatically parse relevant data, partner information, and even attachments. The tool now automatically creates queues for unprocessed submissions or applications, prevents deal duplication, and properly attributes all submissions to the right lead source or partnership.
  • Streamlining stipulation management – Before funding a deal, the Fund-Amental team requires extensive information from merchants, including (but not limited to) any bankruptcy filings, repayment plans for outstanding debts, etc. The new system (and built-in user interface) now automatically triggers appropriate stipulation workflows, a process the underwriting team used to have to manage manually.

Noticeable Gains in Sales and Underwriting KPIs

Overall, improved pipeline tracking—from deal submission all the way through to funding approval—now provides more complete visibility into the status of all deals in the Fund-Amental pipeline. Management can now see where any deal stands and see how many are sitting in each stage. The underwriting team, for their part, now have more complete information to inform their approach to deal applications, much of it automated before hand.

As a result of these and other efficiency gains created by the Salesforce integration, Fund-Amental Capital has seen significant movement in a number of important KPIs:

A 20% increase in efficiency thanks to fewer records and no duplicated datalicated data

A 30% decrease in average contract offer, indicating more targeted, risk-averse decision making by the underwriting team

Improved Pipeline Tracking = Happier Partners

By eliminating duplicate deal records and automating the deal submission process with a custom Salesforce deployment, Fund-Amental was able to strengthen relationships with its partners. The company now captures far more deal submissions, automatically creates and updates customer records in Salesforce, and virtually eliminates the risk of deals getting lost in the shuffle of email messages and siloed spreadsheets.

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