Deal tracking software can help you monitor your sales leads. It also helps you analyze the performance of your team members and identify areas of improvement. It helps you manage each lead and give it a priority, so that you can close deals more quickly.
If you wander into any salesperson’s office you’ll probably see them working on a white board. As each deal moves forward or backward they erase the old columns and then add new columns. It can be a time-consuming process that is difficult to keep track of.
A deal tracking software helps you get rid of the old method of logging and tracking deals. With it, you can create and manage pipelines and workflows that assist you in tracking deal stages and milestones. This solution allows you customize and automate work flows assigning tasks, and send reminders. It can also be used to focus on transactions that are high-priority, screen investments in minutes instead hours, and provide a clear view on pipeline forecasts using estimates in-line.
A deal management system gives you a central repository for storing and connecting all your data. The data contains information about the investment you are considering as well as information about other stakeholders. It may also be shared with external experts for due diligence purposes. Some of the features include a data room virtual, customized reporting as well as collaboration and access security.