Deal Tracking Software – How it Can Help You Close More Deals Faster
Deal tracking software is a tool that assists you in monitoring your sales leads and monitor the progress of each lead. It also assists you in analyzing the performance of your team members and identify areas for improvement. It lets you manage each lead and assign it a priority, so that you can close deals faster.
If you pop your head into the office of a salesperson you’ll probably see them working on a white board. As the deal progresses, or backwards, they add new columns. This can be time-consuming and difficult to keep up with.
A deal tracking tool can help you move away from this outdated method of recording and keeping track of deals. You can manage and create workflows and pipelines to track deal stages and landmarks. This tool lets you create and automate workflows, assign tasks, and send reminders. It also assists in focusing on high-priority deals and screening investments in minutes instead of hours, and providing an accurate view of pipeline forecasts based on in-line estimates.
Another benefit of using a deal management system is that it gives you access to central storage to store and link all of your data. The information includes information regarding the potential investor and other stakeholders. It can even be shared with outside experts for due diligence purposes. Some features include a data room virtual, customized reporting, collaboration and access security.