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Business Development

Within Salesforce, Elements has created a new App, called Business Development. This App allows you to track information as it relates to Outreach, New Business, and Sponsorships. 

 

Outreach and Outreach Members

 

Outreach allows firms to track outreach events for prospects, clients and COIs.

 

Outreach is a top level object in the Elements Business development app and consists of multiple objects:

  • Outreach Member

  • Sponsorships

  • New Business

 

Outreach Members are a list of Contacts that are associated with an Outreach event. 

 

Outreach Member is a child object of the Outreach object in the Elements Business development app. This creates a many to many relationship. There are also sections for Registration Information and Accommodations so that you can track the registrations of the Outreach Members, any additional attendees who aren't currently Contacts in your CRM, and any accommodations for this Outreach Member for the Outreach event (dietary restrictions, etc.)

Recommended Fields: Member ID, Contact, Outreach, Member Type

Sponsorships

If you're lucky enough to have partners who work with you on your Outreach, you can use Sponsorships to track the new business associated with the Outreach event and the associated Sponsors.

Recommended Fields: Sponsorship Name, Company, Outreach Sponsorship, Sponsorship Amount, Confirmed Sponsors, Confirmed Sponsor Attendees

 

New Business

New Business allows you to track new assets as they relate to an existing Relationship or Contact. This information can be tracked in the Business Development App, or in the traditional Elements App.

This object has a predefined process, forcing users to enter specific data points depending on whether the New Business record is in the sales cycle. Validation rules make either Relationship or Contact required when creating a New Business record. 

 

The path and corresponding key fields are:

1. Qualify

  • Projected Investment
  • Est. Close Date
  • Warmth
  • Referral Source
  • Referred By

2. Discover

  • Net Worth
  • Follow Up Next On
  • Est. Close Date
  • Warmth

3. Propose

  • Proposal Ready
  • Proposal Presented
  • Proposal Signed and Received
  • Est. Close Date

4. Closed

  • Actual Investment
  • Actual Close Date
  • Won/Lost
  • Reason Won/Lost

You do have to fill out each of the Key Fields to advance the Path, and the Path must be updated manually. 

Recommended Fields: Service Level for LCO, Owner, Contact, Relationship and New Business Type

Because all CRMs can be customized by the System Administrator, it is possible your views and access will differ. 
Please contact your System Administrator with questions on your firm's views and access.

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