Deal Management – How to Effectively Manage a Complex Sales Pipeline

Deal management is about the procedures and practices that allow an organization implement its investment strategy. The aim is to manage a complicated pipeline of sales and practices, as well as standardize procedures and improve the quality of deals.

Creating an effective deal management plan starts by understanding what the responsibilities and goals of each role in the sales cycle, and ensuring that these roles have clear handoffs. This ensures that the appropriate people are involved in the right deals, and ensures that these roles don’t cross over too much — this could cause confusion or conflict, which can ultimately slow down the sales process.

A good deal management process should include a timetable for each stage, as well as the criteria to meet to move on to the next. This will enable teams to find bottlenecks, and then take steps to overcome these. A well-designed procedure should allow for continuous communication between all the parties involved in the deal including external partners such as investment managers or brokers.

In a complicated environment there are many stakeholders involved in the sales process. This is especially true for the midmarket and enterprise sectors with many decision-makers, feature requests, critical dependency, and many more. To manage these deals, you need greater control and visibility. A technology solution like Revenue Grid can provide this level of control and visibility to ensure that the appropriate people are working where they should be.

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