Meaning of the term pipeline management in CRM software
In most CRM systems, the term pipeline management designates a process of overseeing and directing future sales in various stages. Pipeline management allows CRM managers to answer several important questions. First, it enables them to accurately predict future revenues. Second, it helps them analyze sales process and identify weak spots. Third, it can alert a sales manager about a future sales slump or sales growth. Forth, shows aggregate sales velocity - the time it takes on average to turn incoming lead into a paying customer. Such terms as pipeline, sales pipeline, deal pipeline and opportunity pipeline are all related.
Advanced CRM software, like Bitrix24, allows managing multiple pipelines. This is very important, because most CRM don't offer this option. Suppose you run a car dealership and make money selling cars, selling car parts and providing repairs. Many CRMs will allow you to configure only one pipeline (new car sales or repairs). This means you won't be able to accurately track and analyze multiple lines of business and profit centers. Keep this in mind when choosing pipeline management software.
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