Problem: Our customers are always e-commerce companies and often startups. Both often have multiple larger companies invested in them. So we need to be able to add two or more large investors as parent companies for one of our customers, in order to get a truly global view of the relationships between the customers in the CRM.
We would also appreciate it, if multiple hierarchies were possible and a parent company could be assigned to another parent company:
Company A --> Company B --> Company C --> Company D
I commented the same on a similar ticket, but this is very important to us as well. There are many tri-tiered company ownerships that we can't accurately identify.
For example:
Comcast owns NBC, which owns Universal Pictures
OR
WPP is a holding group that owns GroupM, which owns Mindshare
GroupM, and NBC, currently cannot be both parents and children, but they should be.
This would be a great feature. Alternativley, it would be superp to have a different record type i.e. Subscription that can be associated with a company
Currently setting up HubSpot for our SaaS business and ran into a challenge with putting our customer model into the CRM:
Our model:
Direct customer (we bill and support) --> Individual subscription
White-labeled reseller (bills and supports customer) --> Individual subscription
Reseller (makes the sale) --> Direct customer --> Individual subscription
Challenge:
I wanted to have the relationship from Resellers to the Direct customers they signed up (for reporting and tracking performance of resellers) but with the limit on parent/child relationships I couldn't then have each Direct cusomers subscriptions reside under them as child companies.
I've got round this by using a Company custom field. Field is a drop down listing all Resellers which I then assign to the Direct Customer which means I can still show the Direct Customers individual subscriptions underneath them.
I also think this is important. I work in China and Joint Ventures (JV) are very common here. A CRM system should also be able to make complex relationships of companies clearer. If you could even add an option to show complicated networks graphically would be amazing.
I created another topic, on which I suggest to add the possibility to add associations to the companies. It would be great, If this could be combined with the multiple parent companies.
This is critical for us too - companies have different offices so need to be child companies of the head office. But that company in turn is part of a larger group of companies that we need to be aware of. I would have thought it would be fairly simple - just create a many-to-many relationship in the related companies module. In other CRMs it is posisble to create simple company relationships like this - would appreciate it if this could be addressed ASAP!
Yes! We're really struggling with this limitation - and it's really going to affect our reporting. I've spoken to HubSpot about this but doesn't seem to be on their roadmap.
This is a feature I'd like to see as well. Many of our prospects are part of a larger parent company, which in turn has its own parent company. Would be great to at least have the full association in the companies' profiles.
Yes, please. This scenario occurs often enough that we would like to utilize this functionality, especially with so many merger & acquisition events throughout all industries.
I've addressed this to the HubSpot teams several times, as the lack of this feature really limits our benefit from HubSpot as a CRM. So far I received no indication when they might implement it... Any news on this?
The insurance industry is also like this - a parent company that owns holding companies that own insurance "groups" that own individual insurance (and non-insurance) companies.
Ideally, you would be able to set parent-child relationships to mimic this type of thing, you would then assign contacts and deals to the right entity in the hierarchy, and you would provide consolidated views of companies, contacts, and deals that aggregate up from children to parents to "grandparents"
We work with lots of private equity backed businesses and we NEED to track multiple parent companies for a given entity. Has anyone found a workaround for this?
I create the JV "X" whose fathers are company "A" and company "B"
For each company I use to create a contact: Name="company name" Surname="INFO".
I associate the contact "A INFO" and "B INFO" to company JV "X"
Unfortunately, contacts can only be associated with only one company.
In the same way, business can only be for one company, and sometimes I would like to add more of them, for examplo in a bidding stage of a project where many companies bid and I quote the same product for different companies.
Then, I can only try to create a new Company field property
We also have a need to have multiple parent companies for tracking organizations with multiple investors. Seeing companies where they have overlaps with multiple investment firms with whom we have good relationships will help us sell more effectively. In addition, we need to be able to report to the individual investment firms on our performance for their portfolio companies who are our customers. If we can't associate the 2nd, 3rd or 4th investors in a portfolio company, we can't report on their performance without manually tracking this through work-arounds.
We also have multi-brand parent companies with investors above the parent company level. For example, a restaurant group with 4 restaurant brands, but with one or more investment firms above them.