Successful Deal Closing - Business Team Focus

Successful Deal Closing - Business Team Focus

The following are steps that can be taken to have a successful close when you need the finance teams assistance with receiving and sending funds. 

  1. At the beginning of the process, when you receive the initial deposit for the expected closing, submit a ticket as follows
    1. Finance > Wires > Receive a Wire
    2. Be sure to include the following information
      1. Client Name
      2. Expected Closing date in the description field
  2. Finance team will verify funds have been received. 
  3. Finance team will create a new ticket for the expected closing
    1. Finance > Refunds > Distribution of On Hold Funds
    2. Contact should be the paralegal on the matter
    3. CC the primary attorney on the matter
    4. Add Expected Closing Date in the Subject line and in the description field
  4. One week before the expected closing date, the finance team will reach out to the paralegal, and cc the primary attorney and the CFO, and ask the following questions
    1. Is the closing still proceeding as scheduled?
    2. How many wires are you expecting to receive?
    3. How many wires will we need to send?
    4. How many of these wires are above 50K?

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