Custom Pipelines: The Backbone of Efficient Deal Management

For finance brokers, managing multiple deals at various stages can quickly become overwhelming without a structured system in place. This is where a CRM with customisable pipelines can be a game-changer, helping you visualise and track each deal from start to finish. Custom pipelines provide an organised and efficient way to manage client applications, ensuring that no deal slips through the cracks.

In this post, we’ll explore why custom pipelines are so crucial for finance brokers and how you can set them up in Pipedrive to streamline your deal management process.

Why Custom Pipelines Are Essential for Finance Brokers

In the finance industry, deals often involve several stages, from initial client contact to final settlement. Without a clear process to track where each deal stands, it’s easy to lose track of important tasks or miss deadlines. Customisable pipelines allow you to create a visual workflow tailored to your business, helping you stay on top of every deal.

Here’s why they’re so important:

• Clear Overview of Deal Progress: Custom pipelines let you easily see where each deal is in the process, allowing you to prioritise your tasks and ensure timely follow-ups.
• Organised Workflow: By creating stages that reflect the typical journey of a finance deal, you can stay organised and make sure no step is missed.
• Improved Efficiency: Custom pipelines reduce the need for manual tracking, helping you automate repetitive tasks and focus on what really matters—building relationships with clients and closing deals.

Watch: Pipedrive CRM Set Up For Finance Brokers

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At the core of Pipedrive is the pipeline feature, which enables finance brokers to visually track the progress of every deal. In this video, Ben Fuller demonstrates how Pipedrive’s customisable pipelines work for finance brokers, guiding deals seamlessly through each stage—from the initial contact to final settlement.

How to Set Up Custom Pipelines in Pipedrive

Pipedrive allows you to build and customise pipelines that fit your unique business model. For finance brokers, this could mean creating separate pipelines for different types of deals (e.g., mortgage applications, asset finance) or setting up stages that match the specific workflow of a loan application.

Here’s how you can structure your deal pipelines in Pipedrive:

1. Lead-In: This stage is where new leads are captured. Whether through referrals, website inquiries, or other marketing efforts, the lead-in stage is your first point of contact with a potential client.
2. Assigned: Once a lead is qualified, it moves to the “Assigned” stage, where it is assigned to a specific broker or team member for follow-up.
3. Contact Made: This stage tracks the initial client communication, whether via phone, email, or in person.
4. Pre-Approval Docs: After the initial consultation, clients are asked to submit necessary documents for pre-approval. This stage keeps track of all documents received and those still outstanding.
5. Pending Extra Docs: If there are any additional documents or follow-ups required, deals move to this stage, ensuring everything is in order before proceeding.
6. Unconditionally Approved: At this point, the deal is approved, and the client is notified. Any further steps, like signing contracts or preparing for settlement, are handled here.
7. Ready for Settlement: This is the final stage before closing the deal. All documentation is finalised, and the broker ensures everything is ready for settlement day.

Each of these stages can be customised to fit your brokerage’s workflow, and automations can be added to ensure key tasks like follow-ups or document requests are handled without you needing to manually intervene.

Real-Life Example: Managing Mortgage Pipelines

Let’s look at a real-life example. A mortgage broker might set up their pipeline like this:

• Lead In: Capture new mortgage leads from your website or referrers.
• Initial Consultation: Log your first client meeting and discuss their needs.
• Pre-Approval: Track the collection of documents such as proof of income, credit reports, and identification.
• Application Submitted: Once the documents are received, submit the client’s loan application and track its status here.
• Pending Approval: Wait for the lender’s decision, while following up if necessary.
• Approval: The loan has been approved, and you can move to finalise settlement.
• Settled: The deal is closed, but you can also set reminders here for follow-up communications, such as loan reviews after six months.

This kind of structured pipeline ensures that every deal is tracked from start to finish and that you always know exactly what needs to happen next.

Watch: Referral Management and Pipelines for Finance Brokers

Watch as Ben Fuller demonstrates how Pipedrive’s customisable pipelines also streamline the referral process, providing brokers with an efficient system to track and nurture every lead from the moment it’s received through to settlement.

Final Thoughts

Custom pipelines are the backbone of efficient deal management for finance brokers. By setting up stages that reflect your specific business processes, you can stay organised, save time, and ensure that no deal falls through the cracks. Whether you’re dealing with mortgage applications, asset finance, or client referrals, Pipedrive’s customisable pipelines provide the flexibility and structure you need to manage your deals with ease.

Request a Free Demo with Our CRM Expert

Ready to find out more about how Pipedrive’s customisable pipelines can work for your brokerage?

Book a call with one of our Finance Industry CRM experts to discuss your unique business needs and see how Pipedrive can help you streamline your processes and close more deals.

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