Breakdown of the Deal Statuses and Workflow. Following this process is key to enabling effective analysis & reporting.
Every deal in the Flamingo TPE solution goes through a progression in a logical, automated workflow, from entering the system through a validation & approval process, to the final stage of closing once the deal is actualized.
- Deal Copy/Entry
- Enter a Deal into Flamingo.
- Or, Copy a Deal in the Annual Planner.
- Pass Validation
- Deal goes through a system validation process to ensure information is entered fully & correctly. If it fails validation, it will go to Not Valid, or “NV” status.
- Pending Validation
- Deal status goes to Pending, or “PE” if it requires additional approval.
- Deal Approved
- Deal status goes to Approved, or “AP” status once it is approved.
- Deal Committed
- You or your broker partner “commits” the Deal once it is sold into the retailer, and attach the contract within Flamingo. The status of the Deal changes to Committed, or “COM” status.
- Deal Active
- The Deal changes to Active, or “AC” status at the Start Date entered for the Deal. Deductions may now be applied to the Deal.
- Deal Expired
- The Deal changes to Expired, or “EX” status at the Deal End Date. Deductions may continue being applied to the Deal until the Settle Date Passes.
- Deal Closed
- The Deal changes to Closed, or “CL” status when the Settle Date has passed, all Deductions have been settled against that Deal, and the Deal has been actualized.