Deal Management for Faster Closes and Better Business Outcomes

Deal management is a system which defines specific deal parameters to assist sales teams in navigating the often-challenging task of closing complicated deals. It includes managing the work of drafting, completing and publishing the deal binder or closing book; and ensuring that the contract is completed within a defined timeline. By establishing clear processes that enable sales reps to take the necessary steps to get a deal over the finish line, businesses can reduce the time required to close each sale and generate revenue more quickly.

Effective deal management reduces inefficiencies that are caused by human error and personal preferences. With refined deal parameters in place sales reps are able to engage proactively, relevant actions are boosted by having an established procedure, and the experience of clients improves when consistent messaging is used.

Additionally having a well-organized procedure in place will allow you to recognize and address any issues that could arise before they become a problem. It allows you to provide accurate and reliable sales forecasts, and ensure that your team follows best practices at every opportunity.

To make the most of your deal management efforts put your money into an automated CRM system that streamlines the data room process, enables you to build unique pipelines, and provides real-time visibility into each opportunity. Your team can make better choices based on the latest information, visually-based reports and AI-driven predictions. This can lead to more efficient and quicker sales, as well as better business results. Freshsales is a good example. It allows reps to view their pipelines as well as deal data in one place. It allows them to drag and drop deals to improve precision.