Deal management focuses on the procedures and practices that help an organization implement its investment plan. The objective is to manage the sales process in a complex manner as well as standardize practices, increase deal quality, and ultimately boost conversions.
To develop a successful deal-management procedure, you must first be aware of the responsibilities and objectives of each high-performance digital boardroom setup person in the sales cycle. Then, ensure that these roles have clear handoffs. This helps to ensure that the right people are involved in the right deals, and also that those roles don’t overlap too much. This can lead to confusion or conflict, which can ultimately slow down the sales process.
A good deal-management process should also involve a defined timeline for each stage along with the requirements that must be fulfilled to advance to the next stage. This will allow teams to identify any bottlenecks and take steps to eliminate them. A well-designed process should allow for constant communication between all the parties involved in the deal including external partners like investment managers or brokers.
In a complex setting there are a variety of participants in the sales process. This is particularly true for the mid-market and business segments where there are many decision makers as well as feature requests, important dependencies, and much more. To manage these deals, you require greater visibility and supervision. A technology solution like Revenue Grid can provide this degree of transparency and oversight to ensure the right people are working where they should be working.