Why You Need a Deal Management Product

The best deal management tool delivers the data and insight that you need to comprehend the factors that are affecting or restricting your sales pipeline and revenue. This will allow you to turn selling into a more scientific and measured process, allowing you to make better choices and, ultimately, increase your win rates.

To achieve this it’s essential to be able to see the entire sales process – and this includes having access to smart pricing optimization. This means having complete pricing and inventory information to make sure that the deals you and your team are pursuing are aligned with the best-fit price points for the customer’s buying behavior.

This allows you to make the right choices that maximize value for your customers and are in line with the highest profit margins, and reduce the risk to your business. Be aware, however, that price optimization is a complex process that requires collaboration among multiple teams. A good deal-management program will help you achieve this and align your products with the best price.

A good deal management tool can also help you save time by automatically generating and updating opportunities, and also moving existing ones from one stage to the next stage of your pipeline of sales. It can also sort your pipeline and prioritize it for you to let you know which deals are important and when to follow-up on them. This allows electronic vs physical data rooms comparison your team to spend more time with potential customers and close deals.