Deal Management – How to Effectively Manage a Complex Sales Pipeline

Deal management focuses on the procedures and practices that enable an investment strategy to be carried out. The aim is to manage a complex sales pipeline to standardize processes, improve deal quality, and ultimately increase conversions.

To implement a successful deal management procedure, you must first be aware of the responsibilities and objectives of each part of the sales cycle. Also, make sure the roles have clear handoffs. This ensures that the correct individuals are working on the correct deals and that their roles don’t overlap too often. This can cause confusion or conflict, and ultimately, slow down the sales process.

A good deal-management process should also include a clearly defined time frame for each stage along with the requirements which must be met to advance to the next stage. This will help teams identify any bottlenecks and take steps to eliminate them. A well-designed procedure should allow for continuous communication between all the parties involved in the deal including external partners such as investment managers and brokers.

In a complex environment there are many people involved in the sales process. This is particularly true in the mid-market and business segments that have many decision makers, feature requests, critical dependencies, and much more. The management of these deals requires more transparency and oversight, most likely via a technology solution like Revenue Grid that provides the degree of transparency and control needed to ensure that the appropriate people are working on the things they must be working on.

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