Sales Process Workflows

Sales Department Business Process Definitions & Templates

  • Workflow Template / Sales

    Advertisement Creation & Approval
    The Advertisement Creation & Approval process involves the collection of customer specifications and the subsequent design (text, layout) and approval of an advertisement. This process includes customer contact and the reception of their advertisement project proposal, advertisement specification information gathering, credit check on customer, design (text, layout, etc.) and approval of advertisement (if the customer does not accept the ad, ensure that it is reworked to customer's satisfaction), and advertisement distribution.
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  • Workflow Template / Sales

    Advertising Sales (General)
    The Advertising Sales (General) process involves the processing of advertisement specifications from creation to payment disbursement. This process includes advertising assignment reception, advertising agency selection (perform research on a number of advertising agencies before choosing the best fit for the company and the project) and account development (the financing for the project must be approved before anything can start), campaign setup, testing and implementation (initial and final) and payment distribution. Campaign results should be documented and distributed as a monthly report.
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  • Workflow Template / Sales

    Cash Management Product Sales
    The Cash Management Product Sales process involves coordination between bank customers (or sales leads), sales representatives and cash management team members to educate, close and onboard new cash management customers. Sales representatives contact sales leads over the phone to discuss the bank's cash management service offering and determine if the lead has any interest. If they do, a request for information (RFI) is completed and sent to internal cash management team members to aid in answering the potential client's questions. If the lead decides to move forward, pricing details are negotiated and they are provided with the final paperwork to onboard and begin using the account.
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  • Workflow Template / Sales

    Commercial Loan Sales (Large Client)
    The Commercial Loan Sales (Large Client) process deals with the sale of commercial loans to large business or institutional clients. This process kicks off with a call from a commercial loan officer to a commercial sales lead, or prospect. Prior to contacting the lead, the loan officer typically performs some research to understand the client's business. During the initial sales call, the loan officer gathers information regarding the client's needs. A package of documents, including potential loan options, is then prepared to present to the client. If the client decides to move forward, a good faith deposit is collected and the formal application process begins. During the application process, the client and loan processing/closing staff members coordinate to collect all requisite information and ensure that the loan terms are satisfactory.
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  • Workflow Template / Sales

    Commercial Loan Sales (SMB Client)
    The Commercial Loan Sales (SMB Client) process deals with the sale of commercial loans to small and medium-sized business (SMB) or institutional clients. "SMB" clients typically have less than 1,000 employees, but this threshold may vary from bank-to-bank. This process kicks off with a call from a commercial loan officer to a commercial sales lead, or prospect. Prior to contacting the lead, the loan officer typically performs some research to understand the client's business. During the initial sales call, the loan officer gathers information regarding the client's needs. A package of documents, including potential loan options, is then prepared to present to the client. If the client decides to move forward, a good faith deposit is collected and the formal application process begins. During the application process, the client and loan processing/closing staff members coordinate to collect all requisite information and ensure that the loan terms are satisfactory.
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  • Workflow Template / Sales / Sales Support

    Customer & Vendor Setup
    Customer & Vendor Setup processes are triggered when sales (customer setups) or procurement (vendor setups) staff members send requests to master data management employees for new customers/vendors to be added to company systems. Once the request has been received, master data staff members validate all required information and check to make sure that the customer/vendor is not already setup in the system. Once all the requisite information has been input, the requestor (sales or procurement staff) is asked to do a final pass to verify the information. This process may also include adjustments to existing vendor or customer accounts.
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  • Workflow Template / Sales

    Digital Ad Sales
    The Digital Ad Sales process involves coordination between sales representatives, account executives, creative team members (graphic designers, conversion specialists) and advertising analytics team members to sell and monitor ad space for third parties. Account executives and sales staff members meet with potential clients to determine their needs and negotiate the details of the engagement (ad space cost, timeframe, goals, etc.). If the client decides to move forward, the creative process begins - graphic designers and conversion specialsts configure and test the layout and placement of the advertisement(s). Once the ad is live, the client is provided with frequent reports detailing the performance of the ad(s).
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  • Workflow Template / Sales / Inside Sales

    Inside Sales
    The Inside Sales process typically involves coordination/contact between sales leads, marketing staff, inside sales representatives, sales support staff and outside sales representatives to contact and set meetings with sales prospects in hopes of converting them into paying customers. Sales leads are researched and passed off to inside sales team members, who then contact the prospect over the phone. If the lead is interested, the inside sales representatve collects additional information and works to set a meeting with an outside sales representative, who will meet with the contact face-to-face.
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  • Workflow Template / Sales

    Investment Management New Business
    The Investment Management New Business process differs slightly for retail, private wealth management (for high-net-worth individual investors) and institutional accounts. The retail investment account new business process is the most simple - new customers simply meet with financial advisors who recommend options and work with the customer to open and configure their account. Private wealth management, or high-net-worth, clients receive a bit more 'white glove' treatment, but the process is similar to the retail new business process. For businesses, or institutions, the new business and account opening process typically involves more meetings/presentations and requires additional paperwork and information to be collected prior to opening the account.
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  • Workflow Template / Sales / Lead Generation & Research

    Lead Generation & Research
    The Lead Generation & Research process involves the targeting and generation of potential sales prospect(s), or leads. This process includes the initial development of a targeting strategy (ensure that managers are notified of the strategy once available), targeting strategy review and adjustments (if necessary), the initial list generation of targets to research (targets are based on stragegic areas, such as job position, geography, etc.), sales target list review and adjustments and the performance of all additional research. Once all research has been made on the approved list of sales targets, sales representatives are assigned leads to go ater according to the sector they are working, their tenure, etc.
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  • Workflow Template / Sales

    Online Ad Sales
    The Online Ad Sales process involves coordination between sales support staff, advertising setup and analytics team members, and sales representatives to sell online advertising space to companies and/or ad agencies. Sales representatives identify and contact sales leads to set meetings and develop presentations based on the information gathered from the sales lead. At that point, if the customer is still interested, the sales support team (with assistance from the sales representative and sales managers) works to develop the contract. After the contract has been executed, the ad is developed, scheduled to run and continuously measured.
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  • Workflow Template / Sales

    Online Insurance Sales
    The Online Insurance Sales process is designed to quickly and intiutively collect, through a series of online forms, the information required to generate an insurance quote for retail customers. Required information may include zip code, name, address, date of birth, vehicle identification number (for auto insurance) and existing insurance policy information (if applicable/available). After the website visitor has entered the requisite information, they are typically offered discounts for various related products/services offered by the insurer. After the application is completed, the customer is provided with a preliminary quote and, in most cases, the application is sent to the underwriting and sales teams to finalize the policy and onboard the new policyholder.
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  • Workflow Template / Sales / Pricing & Quotation

    Quote-to-Order
    The Quote-to-Order process is initiated when a sales lead, or prospect, submits a request for quotation (RFQ) to a sales representative. After the RFQ has been reviewed by the appropriate personnel (typically sales team members) a quote is generated and sent to the customer for confirmation. If the customer approves the quote, the order undergoes final confirmation (pricing, order details, etc.) and payment details are collected from the customer. At this point, a purchase order (PO) is created, and the order is ready to be fulfilled.
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  • Workflow Template / Sales / Sales Performance Management & Incentives

    Sales Compensation Incentive Programs
    The Sales Compensation Insentive Programs process handles the correction, testing and implementation of changes to the employee compensation structure within HR compensation systems. This process includes compensation generation and analysis, compensation corrections (where needed), testing (involves data gathering and compensation system development), report production and data validation. A competative and motivating sales compensation plan includes four components (salary, commission, bonus and sales incentives) and, if done properly, should be straightforward and easily understood.
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  • Workflow Template / Sales

    Student Loan Sales (Secondary Market)
    The Student Loan Sales (Secondary Market) process involves coordination between multiple financial institutions (banks, broker/dealers, loan servicers, etc.), marketing staff, sales representatives, sales support team members and credit/risk management staff to market and sell educational loans (i.e., student loans) on the secondary market. Loans originated by banks, or other loan originators, are often "bundled" and sold to third parties on the secondary market.
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