The ability to identify deal risk in an informed proactive manner, whether you are in the early stages or negotiating the final agreement, can make or break your sales success. The problem is that most companies rely on manual processes and rely on intuition, which can result in missed opportunities and costly mistakes.

Deal management involves the execution of sales workflows and setting deal parameters, which include operational constraints such as customer histories, product status and team member roles. These safeguards allow teams to follow a defined process and eliminate internal inefficiencies.

In addition, through the use of central repositories, deal management solutions enable businesses to monitor and prioritize opportunities easily. They also offer customizable dashboards and reporting tools that enable businesses to visualise their pipelines and monitor KPIs. This allows managers allocate resources more efficiently, like placing sales reps who have more experience on high value deals to increase the probability of conversion.

A thorough account map is a crucial component of a successful sale, as it helps reps anticipate objections and comprehend the customer’s buying signals. By ensuring that all parties are in contact with one another, the MAP will decrease friction and improve collaboration, which will help your sales team to close more deals. Deal management platforms also forecast demand fluctuations, and analyze pricing elasticities in order to maximize profits by using price optimization algorithms. This gives businesses the ability to give their customers a competitive advantage and increase virtual board room for intensive performance their business.