One of the core factors of a thriving and growing economy is the health and happiness of its existing businesses. If local business demands and needs are met, they are more likely to stay and expand in the same area creating new job opportunities and building wealth in the local community.
However, managing the Business Retention and Expansion (BRE) activities manually is arduous and time-consuming. There is a high chance of errors, and it becomes difficult to keep records of the efforts, and activities to present them to your leadership and stakeholders when required. That is why every EDO needs to rely on technology-based solutions that are built exclusively for economic development organizations.
Having the right tech support for daily activities like reporting, data storage, incentive calculations, and more can simplify and fuel the BRE efforts. One of the most effective ways for EDOs to double up the BRE efforts is by utilizing economic development organization management software.
ProTRACKPlus is one such economic development CRM software that is an ideal technological solution and it makes the business retention and expansion in the local economy easier, and more efficient. The software is seamlessly designed to easily integrate into the economic development organization.
Furthermore, it comes with many useful features like robust reporting, document storage, data organization and more, which are vital in the development of comprehensive local and regional strategies to support and evaluate business and community requirements.
How Can Technologically-Advanced Software Like ProTRACKPlus Help in BRE?
BRE is the main pillar of economic development. With the right BRE strategies and plans, an economy can flourish and grow, thereby paving the way for the betterment of future generations.
Built exclusively to suit the needs of an EDO, ProTRACKPlus is undoubtedly the best CRM for economic development designed specifically to boost the BRE and economic development efforts. Unlike other CRM tools, it is a comprehensive solution that allows organizations to find the risks, identify the opportunities, and manage all aspects of their business retention and expansion. This software includes tools for data collection and analysis, project management, and communication with businesses and other stakeholders.
One of the key benefits of using business retention and expansion software is the ability to gather, track and analyze the data of local businesses. This data can include information on business demographics, employment trends, and other factors that can impact local economic growth. By analyzing this data, economic development organizations can identify areas of need and opportunities for growth and develop targeted strategies to support local businesses.
ProTRACKPlus can also help in tracking progress on specific initiatives, such as the number of business retention visits that have been completed and compare that number to a goal the EDO has set for the year. This allows the organization to make sure they are meeting their goals and objectives, and maximize the potential for boosting the local economy.
With the help of an advanced and feature-rich economic development CRM like ProTRACKPlus, you can create surveys and get feedback from a particular group of people existing in the local economy. With the help of these surveys, you can learn about local company’s satisfaction level with the community’s performance efforts, discover complaints and ask for suggestions on how to build programs that better support local companies.
Another important aspect of economic development software is the ability to communicate and collaborate with businesses and other stakeholders. With these tools, economic development organizations can build strong relationships with local businesses and stay better informed about their needs and opportunities for growth.
Core Features Of The ProTRACKPlus Software
In a highly digitized world, technology is the driving force. However, there are numerous local economic development tools available in the market that promise customer service support but not all of them are suitable for economic development and business retention and expansion programs. ProTRACKPlus comes with modules that surpass any of the CRMs to give you more than just customer relationship management. ProTRACKPlus is built exclusively for economic development by senior economic development professionals.
1. Document Storage Library
The Library of Documents Module enables the upload and organization of frequently used files. Documents are viewable by all users in the organization. The users build custom folders uploading files into categories and subcategories, allowing effective management of large documents. Improving document organization leads to efficiency and thereby cost-effectiveness.
2. Dynamic Reporting
Manual reporting takes a huge chunk out of your productive hours which is why a great software solution is necessary. In ProTRACKPlus multiple automated reports are designed to keep your leadership better informed on all your BRE activities. This automated reporting is essential for a truly successful program. Using all the information you have gathered about projects, contacts, and/or companies, you can instantly build a report with ProTRACKPlus’ Report Generator. This report may be exported into excel, where you can amp up the messaging using pivot tables, charts, and graphs.
3. Protect Confidential Documents
Manually safeguarding confidential documents and sensitive communications can be extremely problematic in a public or public private EDO. ProTRACKPlus comes with a safe room which acts as a private storage area for documents deemed to be proprietary such as financial statements, offer letters and deal sheets. Laws governing the surrender of documents during an open records or sunshine request typically allow the redaction of such documents and using the built in safe room makes it super easy to comply without jeopardizing any information you need to keep confidential.
4. Customizable Calculator
To keep the existing businesses from moving out, EDOs must ensure that they have everything they need to survive. The EDOs can promote the stability of the businesses and attract new businesses by giving out incentives. The customizable calculator in ProTRACKPlus can help replicate your tax structure and corresponding discounts to provide incentives. This module allows you and your leadership to forecast how much money a company might save and how much revenue the offering government might receive over the duration of the incentive to ensure you win the project.
What Makes ProTRACKPlus One Of The Best Local Economic Development Tools?
With the help of economic development software, you can leverage the benefits of technology. local economic development tools are getting more robust by the day and to be more successful you must enhance your journey into digital transformation.
ProTRACKPlus has the capability to custom build and send surveys, automate reports to your leadership and do so much more than basic CRM software. You can analyze risks, overcome challenges, and find opportunities with the help of ProTRACKPlus. Your success is ensured by a strong BRE strategy coupled with a best tool for BRE.
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