Deal management is a process which involves analyzing, tracking and prioritizing your offers, regardless of where they are in your sales pipeline. It’s the process of communicating with your team members and working throughout the sales cycle to increase the quality and performance of your deals.

The first step in establishing an effective deal management system is to create a document that outlines your sales strategy, and the steps by which each deal should proceed. This will help your team gain complete pipeline visibility and automate time-consuming repetitive tasks that can hinder productivity.

Then, ensure that each deal is in a central area where you can track and review them. Freshworks automates this task for you by creating deal feeds that include every bit of information related to https://chambre.in/data-room-providers-the-secret-to-long-term-operational-resilience/ the deal. This view allows you to add to-dos and mark the time spent on deals. You can also @mention people.

After you have established clear expectations and timelines for each step of the process, create mutual action plans (MAPs) together with your prospects and customers to ensure that both parties are on the same page with regards to what must be done and when it should be completed, and by whom. This helps create more efficient and well-defined workflows that will increase the likelihood of successfully closing each deal.

If a prospect is in the point of converting, you don’t want them to lose focus or get distracted by other matters. Even your least experienced staff members will be able to take the lead with the well-organized, centralized handoff system.