How to Achieve Excellence in Sales Deal Management

For salespeople, the frustration of dealing with inefficient processes and missed opportunities in sales is all too common. The current deal desk process flow is riddled with challenges, causing deals to get stuck in lengthy approval cycles, crucial information to get lost in email chains, and collaboration becoming a nightmare. 

The consequences? 

Poor deal management processes lead to missed opportunities, delayed closures, and strained relationships. You ultimately witness potential revenue slipping through the cracks.  

The good news? 

Avoiding these pitfalls is possible with platforms like FORWARD working for you. These types of deal management platforms enable you to implement clear communication, streamlined processes, and seamless tracking.

Research has shown that inefficient deal management processes can lead to significant revenue loss for businesses. According to a study by CSO Insights, companies with poor sales processes experienced win rates as low as 28.3%, resulting in a staggering 42% decrease in revenue attainment.

The Current State of Deal Desk Processes in Sales Generation

Let’s dial into the evolving landscape of deal desk processes in sales. We’ll explore a few challenges and learn more about the best practices shaping successful deal management today.

What Are Deal Desk Processes in Sales?

Deal desk processes in sales are structured and systematic workflows that manage complex deals and optimise sales outcomes. They involve cross-functional collaboration, pricing strategies, approvals, and risk assessments to ensure each deal aligns with the company's goals while meeting customer needs. Deal desk processes streamline decision-making, enhance deal visibility, and mitigate potential risks, ultimately driving successful sales outcomes.

But sometimes deal desk processes can be a bit messy.
Here are a few challenges businesses face:

1. Loads of Manual Work: Salespeople end up doing a ton of paperwork and sending emails back and forth, which slows things down and can lead to mistakes.

2. Communication Breakdown: It's hard to keep everyone on the same page. Salespeople can miss important details or do the same tasks twice because they're not communicating effectively.

3. The Waiting Game: Approvals take forever! Sales can get stuck in long queues, which delays closing deals and affects the company's ability to make money.

The Potential of Lost Deals and Lost Revenue

The Impact of Inefficient Deal Management

When deal management isn't efficient, it can have a significant impact on the outcomes of deals and the money a company makes. Here's why:

1. Missed Opportunities: Inefficient deal management means missing opportunities to connect with and win over potential customers. Companies that are good at managing their deals have a better chance of grabbing those opportunities, while others get left behind.
2. Disappointing Customers: Poorly managed deals can leave customers frustrated with slow responses, repetitive requests, or feeling like they aren't being heard. This can lead to unhappy customers who are less likely to keep doing business with the company.

The Financial Consequences of Poor Deal Management

Research shows that bad deal management can have financial consequences:

1. Less Money: Ineffective sales processes can result in a decrease in potential earnings. Deals that aren't managed well are more likely to fall apart, meaning lost chances to make money.

2. More Costs: Inefficient deal management can lead to extra costs, like wasting time and resources on manual tasks, unnecessary communication, and fixing mistakes.

The Need for a Smoother and Better Deal Management Solution

To avoid losing deals and money, companies need a better deal management solution. By using technology to automate and improve the deal desk template, businesses can run a smoother sales process that leads to more closed deals and more financial success. 

Introducing FORWARD: The Deal Management Black-Belt

A Powerful Deal Desk SaaS Management Platform

FORWARD is not just an ordinary deal management tool—it's a deal management black belt. Here's why:

1. Streamlined Deal Management: FORWARD is a comprehensive SaaS platform designed specifically to simplify and optimise deal management in the world of sales. It's like having a dedicated assistant that guides you through the entire deal lifecycle.

2. Centralised Deal Hub: With FORWARD, all your deal information and documents are stored in one secure and organised location. No more digging through emails or searching for scattered files. Everything is at your fingertips, making deal management a breeze.

Sales enablement platforms like FORWARD have seen a 343% increase in adoption over the last 5 years, resulting in a 49% win rate on forecasted deals.

Key Features and Functionalities

FORWARD comes packed with features that empower businesses to master deal management. Let's explore some of its key functionalities:

1. Customisable Deal Workflows: FORWARD allows you to create and customise deal workflows that align with your specific sales process. From prospecting to negotiation and closing, you can map out the steps and stages for each deal, ensuring a structured and efficient approach.

2. Collaborative Deal Rooms: With FORWARD's collaborative deal rooms, you can bring all stakeholders together in a virtual space. Share important documents, facilitate discussions, and keep everyone on the same page. It's like having a virtual deal headquarters where collaboration thrives.

3. Intelligent Deal Tracking: FORWARD provides real-time insights into the progress and status of each deal. Stay updated on deal milestones, key interactions, and engagement metrics. Identify bottlenecks and take proactive actions to keep deals moving forward.

The COVID-19 pandemic has accelerated the shift towards digital sales interactions in the B2B space. McKinsey reports that B2B decision-makers now prefer digital self-serve and remote human interactions over traditional in-person sales interactions. This shift has increased the importance of streamlining deal management processes to meet the changing buyer preferences.

Addressing Deal Management Challenges

FORWARD is designed to tackle the specific challenges faced in deal management. Here's how it solves common pain points:

1. Improved Visibility and Control: With FORWARD, you gain full visibility and control over your deals. No more guessing or relying on outdated information. Stay informed, make data-driven decisions, and take control of your deal pipeline.

2. Enhanced Collaboration and Communication: FORWARD facilitates seamless collaboration between internal teams and external stakeholders. Keep everyone in the loop, eliminate communication silos, and ensure a smooth flow of information throughout the deal lifecycle.

Successful deal management requires effective collaboration and communication among sales teams and stakeholders. According to a study by Harvard Business Review, companies that prioritise collaboration between marketing and sales teams achieve an average revenue growth rate of 24%, compared to those with low collaboration, which experience a 6% decline.

Benefits of Using FORWARD

By leveraging FORWARD for deal management, businesses can unlock a range of benefits:

1. Increased Efficiency: FORWARD streamlines deal management processes, eliminating manual tasks and reducing administrative overhead. Spend less time on paperwork and more time engaging with prospects and closing deals.

2. Enhanced Productivity: With its intuitive interface and automation capabilities, FORWARD boosts productivity for sales teams. Focus on high-value activities, nurture customer relationships, and accelerate deal cycles.

3. Maximised Revenue Potential: By mastering deal management with FORWARD, businesses can maximise their revenue potential. Close deals faster, minimise lost opportunities, and drive revenue growth.

FORWARD is your ultimate partner in conquering deal management challenges and taking sales to the next level. ‍

‍ Harness the power of FORWARD and become a deal management black belt today!

Leveraging FORWARD for Efficient Deal Management

Streamlining Deal Desk Processes

FORWARD makes deal management easy by simplifying and automating processes:

1. Easy to Use: With FORWARD's user-friendly interface, dealing with tasks becomes simple. No more confusion or complexity. It's designed to be intuitive, so you can navigate deals effortlessly and take action confidently.

2. Saves Time: FORWARD automates repetitive tasks, freeing up your time. From creating deal documents to sending notifications, it takes care of the administrative work, so you can focus on what matters most.

The use of sales technology solutions, such as deal management platforms, is on the rise. Gartner predicts that by 2025, 80% of B2B sales interactions will occur in digital channels, and sales organisations that have adopted digital tools will outperform their competitors by 15%.

Optimising Deal Collaboration and Communication

FORWARD enhances collaboration and communication for better teamwork throughout the deal:

1. Stay Updated: Real-time updates keep everyone informed about the deal's progress. No more missed information. You'll always be in the loop, making it easier to make decisions together.

2. Works Well with Others: FORWARD integrates smoothly with other tools and systems you use. It brings everything together, eliminating data silos and ensuring seamless collaboration.

Enhancing Deal Visibility and Analytics

FORWARD provides valuable insights into deal performance and helps you make data-driven decisions:

1. Detailed Reports: Get in-depth insights into deal metrics, conversion rates, and pipeline health. Spot trends and make informed choices to improve your deal strategy.

2. Track Progress: Keep tabs on deal milestones and engagement with FORWARD's tracking features. Identify potential risks and opportunities to manage deals effectively.

By using FORWARD's user-friendly interface, automation, collaboration features, and insightful analytics, you can streamline your deal management. It's like having a reliable ally by your side. With FORWARD, dealing with B2B sales becomes more efficient and enjoyable.

Unlocking the Mastery of Deal Management with FORWARD

The Power of Efficient Deal Management

Efficient deal management can have a significant impact on revenue and deal success:

1. Boost Your Business: Using FORWARD to streamline deal management lets you close deals faster and make more money. It helps deals move smoothly, reducing delays and missed opportunities.

2. Increase Your Success: When you manage deals efficiently with FORWARD, you improve your chances of success. Its advanced features help you optimise your strategies, leading to more wins and better profits.

Flexible for All Industries and Deal Complexity

FORWARD is designed to work for businesses in different industries and deal with complexities:

1. Versatile Solution: FORWARD can adapt to the needs of industries like technology, finance, healthcare, and more. It easily integrates with your existing systems and workflows.

2. Simplify Complex Deals: No matter how simple or complex your deals are, FORWARD can handle it all. Its scalable features can manage deals of any size and complexity.

Final Thoughts

If your business is grappling with complex sales processes, communication gaps, and decision bottlenecks, you’re not alone.

However, with FORWARD working for you, you can implement innovative deal desk solutions and overcome any obstacle in your path to success. 

By leveraging streamlined workflows, real-time analytics, and collaborative tools, FORWARD empowers your business to seize opportunities, optimise pricing strategies, and mitigate risks. 

By aligning with customer needs and internal goals, FORWARD revolutionises deal management, propelling businesses toward greater success and growth in the dynamic world of B2B sales.