It is crucial that future business development managers are acquainted with the tools available. The right software can support a growth strategy, streamlines client interaction and facilitates better project management. These tools can boost your professional performance and can help you grow your career.
You should add several key tools to your toolkit, whether you’re an experienced business development manager, or an entrepreneur trying to transition from corporate development to business. These include:
Business Development Tools
Effective M&A requires an integrated deal management platform which provides a comprehensive view from beginning to the close of the entire transaction. While traditional virtual data rooms (VDRs) such as Intralinks, Diligent and FirmRoom are excellent for sharing documents but they do not have the capability to tie communication with a target or banker to a specific pipeline phase or due diligence workstream. Corporate development tools designed for M&A offer this capability. They break down communication barriers and make it easier to track an individual deal’s status or the overall M&A processes.
Additionally, business development tools designed to aid in lead generation and prospecting can streamline the search for new opportunities and allow you to target leads of high quality using a variety criteria. Grata for instance, can identify acquisition targets using important metrics that you decide to define, like profit margins, location or customer base. Hunter can also locate any professional email within a matter of seconds, so you can swiftly communicate with potential customers.
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