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It is essential that the aspiring business development managers are acquainted with the tools that are available. The right software will support growth strategies, streamlines client engagement, and aids in better project management. Understanding these tools can greatly improve your professional effectiveness and help you advance your career.

Whether you’re an experienced business development manager or an entrepreneur in preparation for the transition to corporate development, there are some important tools you should be adding to your toolbox. These include:

Business Development Tools

Effective M&A requires a deal management system which can act as a single source of truth and offer an all-inclusive view of the entire transaction. While traditional virtual data rooms (VDRs) such as Intralinks, Diligent and FirmRoom are excellent for document sharing, they lack the ability to connect communication with a prospective buyer or banker to a specific pipeline phase or due diligence workstream. In contrast corporate development tools that are built specifically for M&A provide this functionality by removing communication silos and making it easier to keep track of the status of an individual deal or the entire M&A process.

Furthermore, tools for business development that are designed to assist with lead generation and prospecting can streamline the search for new opportunities and allow you to target high-quality leads using a variety criteria. Grata is one example. It can help you identify potential acquisition targets based on specific metrics you specify, like profit margins, location, or clientele. Hunter can also locate anyone’s professional email address in seconds, allowing you to quickly connect with potential clients.

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