Deal management platforms offer an easy and reliable way to manage deals, from the initial contact to the closing. They enable teams to prioritize lucrative deals based upon probability.
This allows sales personnel to concentrate on attracting qualified prospects and improve win rate and revenue growth. Furthermore, these tools let you evaluate the most important performance indicators of your pipeline, and determine the reasons why you are losing sales to better plan your sales strategies for the future.
Finally, deal management software enables your sales reps to transfer the information essential to a sale on a regular basis which streamlines processes and cuts down on time. This information can be given to new reps or shared with the sales manager, ensuring that all stakeholders involved are aware of any changes to the deal.
These tools can provide valuable information about inventory, pricing and market trends, which can be utilized to increase profitability. For instance, if a certain type of product is shown to be popular with a specific segment You can utilize this information to improve your inventory levels and sales forecasts.
Some of the most popular deal management platforms include 4Degrees, iDeals, Altvia, and eFront. They offer collaboration solutions, seamless tracking of deals, easy access to high-quality data, automatic enrichment profiles, and many other things. They are designed to work with diverse types of industries and applications, including VC & Private Equity (PE), M&A (Mergers & Acquisitions), Corporate Development and more. Some are available as web-based applications while others are available as a mobile app.