No matter what line of work you're in, regular sales pipeline reviews have far-reaching impact that affect the decisions  you make in other areas of your business; such as fee forecasts, staffing level predictions & more.

Before we get to the juicy stuff, let's first consider the importance of holding regular pipeline reviews.

 

Why are pipeline reviews important for professional services companies?

The amount of firms I come across with next-to-no sight of their pipeline is astonishing. 

These are the firms that are forever scrambling to win any type of business at all, let alone the right type.

Every firm should be tracking their potential opportunities for new business and holding regular pipeline review meetings to discuss them.

Regular pipeline review meetings are fundamental to achieving a steady stream of the right type of new business for your company.

This is the Holy Grail for any professional services firm.

However,  these meetings can be ineffective if they're not process-driven & consistent.

If you have one member of staff tracking their opportunities on a spreadsheet, another scrawling theirs on a notepad and someone else who (somehow) holds it all in their head, then it's not going to work. 

That's why pipeline review meetings are most productive when everyone's on the same page.

The easiest way to manage this is by centralising the process, using software that enables your team to manage their leads & pipeline opportunities from the same place.

 

How CMAP helps professional services companies manage their pipeline:

CMAP gives you a centralised place to track all of your leads & opportunities.

1. Centralised CRM & Pipeline

Giving you the space to track key business development information & plan ahead to the next stage - project delivery.

As standard, CMAP lets you track:

  • Who the client is
  • Likely start date
  • Time-based job costing
  • Resource requirements for the project (and impact on the fee)
  • Project probability % 

You can do a lot more than that too, with access to easy customisation of your CRM - which you can read about here.

CMAP Software's Pipeline tool combines CRM with project management  for professional services firms.

 

So we're all in agreement that every serious firm needs to track and review their opportunities? Great.

You'll also need some visibility over the next 3, 6, 12 months of potential billing to guide your overall strategy & business development targets.

2. Forecasting

CMAP provides real-time, automated forecasting information using data from your pipeline.

So instead of having to chase your finance team for forecasting reports, these key reports are automatically generated for you as & when you need them.

But only if you're maintaining your pipeline via regular pipeline reviews & recording the data in CMAP!

How does it work?

CMAP automatically takes your invoicing calendar; which is projected committed invoicing and overlays your business development pipeline; which is based on probability-adjusted fees spread across the duration of the project.

The result is an 12 month forecast calendar for the project:

Forecast Calendar in CMAP - project management & CRM ERP software for professional services

The brilliant thing about CMAP is that this is done automatically, so long as you maintain your pipeline.

You can't get much more win-win than that.

Eventually, you'll end up with something like this; a birds-eye view of your pipeline which is super easy to dip in & out of:

CMAP Sales Pipeline Screen - project management & CRM ERP for professional services

This is just one of many examples that demonstrate how doing something productive in one area of CMAP has far-reaching benefits elsewhere. 

It's really just the tip of the iceberg. But that's another story for another time. 

CMAP is evolving all the time. To get the most accurate, up-to-date view of what CMAP can do, head to our website & choose your Edition

Alternatively, we'd be happy to show you how CMAP's CRM & Pipeline connects to your projects via an online demo. Click the button below to book yours now:

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