Deal management software is a methodical tool to monitor, track and manage sales through each stage of the sales pipeline. Making use of the right tools and a well-defined procedure will ensure that your sales team can close more deals in a shorter time, while also increasing transparency of performance and progress.

The purpose of good deal management is to provide top-quality products and services to customers at a reasonable price. Deal management tools leverage pricing information and inventory data to provide the most cost-effective price to each customer while maintaining a reasonable margin. These tools automate the approval process and are based on floor prices and agreement prices. This makes it easier for departments and teams to reach their goals.

Deal management tools assist AEs connect with the most important people within each buyer’s organization. This helps establish strong connections and increases the chance of turning potential clients into clients.

A robust deal management platform lets your team quickly and easily identify the next best step for each prospect according to the most current and relevant information. This can help you to avoid losing a client to another supplier, or losing out on a key opportunity due to the slow response.

Improve the accuracy of your sales forecast down to a single digit with a deal management workflow that’s tailored to your business processes. Workflows that are unified and reports that can be customized will eliminate overlapping or duplicating work. Keep everyone informed with real-time data of the pipeline that are automatically updated whenever changes occur to the deal status or value.