Deal management is the process of evaluating and organizing sales opportunities, negotiating terms and making sure that all parties in the transaction are happy with the end result. A deal management system is a computer tool that will optimize the entire process. It provides a central platform for managing pipelines, and ensures that the process is running according to the plan.

Workflows that are automated

Standardized processes and best practices for handling opportunities throughout the sales process can prevent common roadblocks, such as insufficient security documentation or sending out faulty proposals, from causing the negotiation. Additionally, if all team members have access to the same workflows, even the most novice rep can quickly respond to an opportunity and make the appropriate decisions to advance the negotiation.

Aim High

In negotiations, you must be focused on your client’s objectives URL and the ROI of the solution you’re offering. This can keep you from getting caught up in discussions about pricing details or the specifics of the contract. You should also have a « Walkaway point » in your mind this is the point that you’re willing to not to participate in any discussion.

To avoid costly errors and missed revenue it is vital to prepare for the future and forecast expected results from a deal as early as possible. To do this, use predictive analytics tools that take into account various factors like the stage and likelihood of closing to create accurate, real-time sales forecasts.