I have been looking at the free trial of Act! Premium (web) to assess if it meets my needs. I cannot see anyway to assign contacts to Users, is this an available function? Is there any territory management function available?
It all comes down to how you want to implement this territory management.
You can set security roles for the users and contact entries to enable or disable visibilty and editing permissions. Basically say User A cannot see this contact, but User B can, and vice-versa.
You can also just create a new ACT field called "Assigned Specialist" or similar, make it a dropdown with list values set to the names of the team members, and then restrict the field so that only Managers can edit the field. Then everyone will be able to see the contact and know who is assigned to it without being able to change that assignment to themselves. This method comes with the bonus feature of being able to do a search by that field value and monitor the progress of contacts assigned to an individual for easy tracking of employee efficiency.
You can even combine the above two, or mix and match field permissions if you want people to be able to see each others' contacts but not edit them.
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