Q. What is the BD Module?
A. The Business Development Module is designed to track potential client opportunities (BD projects) and their progress through the sales pipeline. It allows you to assign probabilities, monitor activities, and manage these opportunities until they are converted into active Searches.
Q. How do I create a new BD project?
A. From the landing page, hit “New BD” fill in details such as the client, opportunity name, projected value, and probability percentage, then save the record. Everything with an asterisk * needs completing before saving.
Q. What does the percentage represent in a BD project?
A. The percentage indicates the likelihood of successfully winning the business. For example: 25% = Initial Conversation. 50% = Pitch Completed. 75% = LOE Sent.
Q. How do I update the probability percentage of a BD project?
A. Open the BD project record and adjust the probability percentage in the dedicated field as the opportunity progresses through different stages of the pipeline.
Q. How can I link a BD project to a specific client or company?
A. During project creation, you can select an existing company or create a new one to associate it with the BD project. This ensures all client-related opportunities are centralized.
Q. Can I track activities and communication for each BD project?
A. Yes, you can log emails, calls, meetings, and tasks directly in the BD project record. This ensures all interactions related to the opportunity are easily accessible.
Q. Can I assign team members to a BD project?
A. Yes, you can assign one or more team members to each BD project, ensuring accountability and clear ownership of the opportunity.
Q. What happens when a BD project is won?
A. When a BD project reaches a 100% probability and a signed LOE has been received, it can be converted into an open Search where further progress can be tracked.
Q. How can you search for and update BD opportunities in IGNYTE?
A. BD opportunities can be searched and updated using the grid view, which allows filtering by various criteria such as status, team member, and date. Updates should include projected start dates, probability percentages, and status changes.
Q. What should be done if a BD opportunity falls through?
A. If a BD opportunity falls through, change the result status to "No Decision" or "Lost" and update the end date to reflect when the decision was made.
Q. Will the BD opportunity remain accessible after the search is opened?
A. Yes, the BD opportunity will remain accessible for future reference, even after the search is opened.
Q. What if the search is run in a different country than the BD process?
A. Use the "Geography" field to specify where the search will be performed.
Q. How do I handle multiple client contacts?
A. Ensure the client contact is marked as currently working at the company in IGNYTE.
Q. What should be done if the BD/Search is led by a partner in one country but executed in another?
A. The location should be the country where the search is led, and the geography should be the area where the search is performed.
Letter of Engagement (LOE) Generator
Q. How do you generate an LOE within IGNYTE?
A. To generate an LOE, navigate to the billing section of the BD opportunity, ensure all details are correct, and click on the "LOE" button. Fill in the required fields, including initial fee amount, progress fee amount, consultant details, and client details, then proceed to create the LOE.
Q. Can the LOE document be edited before sending it?
A. Yes, the LOE document can be edited for any additional information or adjustments before finalizing and sending it to the client.
Q. How is the LOE sent to the client for signature?
A. The LOE can be sent via DocuBee for electronic signatures. Alternatively, it can be downloaded as a Word document or PDF and sent manually.
Q What happens if the LOE needs to be sent in different languages or formats for different countries?
A. Different templates are available depending on the language and country-specific requirements. The team is working on ensuring all necessary versions are uploaded and available.
Q. How do I track the status of an LOE?
A. Use the activity history in the LOE section to monitor the status and signatures.
Q. How do I open a Search after receiving a signed LOE?
A: Update the BD opportunity's probability to 100% and status to "LOE Signed." Notify the billing desk by clicking the "Notify Billing Desk" button. The billing desk will then open the search and provide a new search number.
Comments
0 comments
Article is closed for comments.