It is crucial that future business development managers are acquainted with the tools available. The best software supports the growth strategy, improves client engagement and facilitates better project management. Learning these tools can dramatically improve your professional effectiveness and boost your career prospects.
If you’re a veteran business development manager or an entrepreneur who is preparing for the transition to corporate development, there are a few important tools you should be adding to your toolbox. These include:
Business Development Tools
Effective M&A requires a deal management platform that can function as an all-in-one source of truth and provide an all-inclusive view of the entire transaction process. While traditional virtual data rooms (VDRs) like Intralinks, Diligent and FirmRoom are great for document sharing but they do not have the capability to tie communication with a prospective buyer or banker to a specific pipeline stage or due diligence virtual data room workstream. Corporate development tools built specifically for M&A offer this functionality. They can eliminate communication silos and help to monitor the status of each deal or the overall M&A processes.
Business development tools that assist in lead generation and prospecting can also automate the search for opportunities and let you focus on leads of high quality using a variety criteria. For instance platforms that are based on technology like Grata can identify prospective buyers based on key metrics youHuo Jie define like profit margins, location or clients. Hunter can also find any professional email address within a matter of seconds which allows you to swiftly connect with potential clients.