Deal Closing Process

Purpose

This document outlines the various components of the deal close process that helps us track, collect, and report on closed sales.

Updating Hubspot Deal Status

Move the Deal from the “Contract Negotiation” lane to the “Closed - Won” lane only when these conditions have been met:

1. Order form has been signed by the customer

2. Addendum to the Terms (if any) has been signed by both parties

3. First invoices (with w-9 and bank letter) have been sent

4. Contract document saved to G Drive

5. Company and Contact attributes have been updated

Company Attributes

First, please make sure that the Company in Hubspot matches exactly the Company that is the contracting party. Lots of organizations have related entities, and we want to make sure that we are keeping them straight in our records.

Update the Sales Details pane

| | The Sales Details pane displays on the left sidebar on company records that have the Company’s Type attribute set to a customer type (Customer Prospect, Channel Partner, or Reseller).Update the Lifecycle Stage field to “Customer.” Doing so will reveal the Customer Revenue Detail pane (if you don’t see it after you save, reload the page).Fill in any missing information on this pane | | — | — |

Update the Customer Revenue Detail pane

The Customer Revenue Detail pane displays when the company’s Lifecycle Stage is “Customer.”

| | Fill in/update all details based on the newly won contract:Next Renewal - based on the term of the contractARR - annualized contract valueFirst subscription - For the first contract only. Don’t update this on subsequent renewals/contractsARR per DU - calculated field. We’re gauging how far/close we are to the target 12/du benchmarkContracted DUs - From contractLTV - Calculated field. ARR x 3 year lifeOrder or Contract - link to contract google driveGoogle Drive - link to Customer Support google drive | | — | — |

Contact Attributes

Go to the person who is the Customer’s Point of Contact. In the left sidebar:

| | Update Persona to the appropriate persona option (e.g. Customer - Lender, Customer - RE Acquisitions, etc).In the Customer Information panel of the left sidebar, select the appropriate Momentum user group. This is used for software update notificationsUpdate contract_poc to Yes. This is used for legal notices (e.g. notice of updated terms). | | — | — |

Contract Documents

Hopefully, any contract documents you have been working with are in Shared > Legal - Contracts > Customers > Prospective Customers > Customer Name

1. Move the Customer Name folder to Shared > Legal - Contracts > Customers > Committed-Sold Customers >

2. Download the signed order form and Addendum to the Terms (if any) into the Customer Name folder