Deal management platforms are used to monitor and analyze sales opportunities based on their current position in the pipeline. These tools can help you boost conversion rates and try this website optimize the sales process by increasing efficiency, higher productivity and increased revenue performance.

While Excel spreadsheets and CRM software are a popular way to manage deals, these tools can be a hindrance for companies that require more specific features that fit their unique workflow requirements. This is particularly relevant to teams working in industries such as venture capital and private equity, investment banking, real estate and M&A, which require a highly tailored tool to keep deals in order and moving forward.

With deal management software, you can streamline the sales process and increase collaboration. It is possible to use the software to create a graphical sales pipeline and assign deals to different stages to track their progress. You can also utilize a deal-bydeal view to view your most promising prospects in a simplified, user-friendly format, making it easier to find opportunities and close more deals.

You can also automate role-based workflows and ensure that all stakeholders are involved in each deal. Software for deal management that is robust can even grant direct access to third party experts like environmental and legal consultants and legal experts, allowing you to simplify operations by eliminating manual delegating. This can reduce costs and help you to minimize risks that you did not plan for. You can also create and track documents like quotes, invoices and proposals within the system.