When working with partners or investors, software tools can aid in streamlining processes and improve communication. Here are a few of the most effective software tools for coordinating multi-level initiatives:
Atlassian is a producer and distributor of collaboration tools, offers SaaS solutions for teams of all sizes. These solutions simplify complex projects by enhancing communication and organization. For example, Atlassian offers a tier-based program which rewards partners with higher rewards when they meet sales goals and complete training programs. This reduces friction, and ensures that everyone in the team are focused on the most important work.
Deal sourcing is one of the most important tasks for venture capital and private equity firms. To avoid costly errors, VCs rely upon software to verify and automate manual data entry process for revenue, contact, EBITDA and other information about companies they invest in. Solutions such as 4degrees or Affinity let VCs manage relationships efficiently with founders, investors and other stakeholders. They provide one platform for managing deals.
The Partner Relationship Management (PRM) tool is an online platform for partners with admin-managed automated capabilities to provide a one-stop shop. They are designed to support the most important types of partnerships, such as reseller, affiliate and co-delivery partnership, as well as marketing development funds (MDF) and short-term sales competitions, also known as SPIFFs.
LPs need to be sure that their portfolio managers have a clear understanding of their relationships and an well-planned strategy for leveraging their relationships. To achieve this they require software that integrates the private equity fund’s own internal data with third-party sources of company and investor information such as PitchBook, Preqin, SourceScrub, Sutton Place Strategies, and others. This information, combined with deal and investment committee data, enables the fund to find opportunities to invest, develop relationships with portfolio companies, and make better choices regarding future investments.
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