Deal management is concerned with the procedures and practices that enable an organization’s investment strategy to be carried out. The goal is to manage the complex sales pipeline to standardize processes, improve deal quality, and ultimately boost conversions.
The process of creating a successful deal management process starts with knowing what the responsibilities and goals of each role in the sales cycle, and making sure that those roles have clear handoffs. This ensures that only the right people are involved in the right deals and that their roles don’t overlap too much. This can lead to confusion or conflict, which can ultimately slow down the sales process.
A good process for managing deals should include a timetable for each stage and the criteria that must be met in order to proceed to the next. This will enable teams to identify any issues and take steps to overcome them. A well-organized process should ensure that there is a consistent communication between all parties involved in the deal, including external partners such as brokers or investment managers.
In an environment that is complex in sales numerous stakeholders are involved in the process. This is especially true in the mid-market or enterprise segments where there are many decision makers as well as feature requests, important dependencies, and more. To manage these deals, you require greater control and visibility. A technology solution like Revenue Grid can provide this degree of high-performance digital boardroom setup transparency and supervision to ensure the right people are working where they should be.
