Prospect functionally only applies to banks using an integrated CRM system, like Salesforce. If you aren’t sure whether this applies to you, please contact Support.
PrecisionLender allows you to attach new Opportunities to a Prospect, which refers to a potential new customer without any existing business at the bank. Prospects are treated similarly to Relationships, with the key difference being Prospects do not have any active core accounts.
In This Article
Creating a Prospect
Currently, you can only create a Prospect if your bank uses an integrated CRM system. First, you will need to create the prospective Opportunity in your CRM system. Next, within the newly created Opportunity in your CRM system, select Price in PrecisionLender.
PrecisionLender checks the Opportunity data for an existing relationship with active accounts, and if none is found, a Prospect record is created.
If you receive an error message that reads "CRM API Error: CRM relationship is not present in PrecisionLender," make sure you first create the Opportunity in your CRM system before pricing in PrecisionLender.
Managing Prospects in PrecisionLender
Prospects are found in the Opportunities and Relationships sections of PrecisionLender.
Note: Permissions to view Prospects follow the same rules as Relationships. You will only be able to see Prospects in your visible Regions.
The easiest way to view a Prospect is by navigating to the Relationships Section and selecting the Prospects filter on the left menu.
From here, you will be able to see the Name, Owner, and Region of the Prospect account. To view, edit, or add new Opportunities tied to a Prospect, open the account by selecting the name.
When a new Prospect is created it is assigned the default name of "(Account(s) Not Present in PrecisionLender)." Updating the name of a Prospect is easy, simply select the name of the Prospect to open the Prospect page, then use the Name text field to make changes.
Be sure to select Save once your edits are complete.
The Prospect page lists all Open Opportunities for the prospective account, along with a running total of Loan Commitment, Average Loan Balance, Average Deposit Balance, Other Income, and Net Income. Total Weighted ROE is planned for a future release.
You can view Prospects in the Relationships column of the Opportunity Grid.
These accounts have a "(Prospect)" label attached to the end of the name, distinguishing Prospects from the bank's core Relationships. If the name is too long, you can see the Prospects label by hovering over it to expand the full name.
Pricing Opportunities for Prospects
PrecisionLender makes it easy to price new Opportunities for Prospects.
The first step is to confirm the Prospect already exists in PrecisionLender by finding the record in the Relationships Section or the Opportunity Grid.
Next, open the Prospect page by selecting the name of the Prospect. Once you are on the Prospect page, select New Opportunity to begin pricing a new loan product.
When the new Opportunity opens, you’ll see the "Prospect" field with the name of the prospective account.
Within the new Opportunity, selecting the "Relationship" tab will show further details about the Prospect.