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Deal management is the process of defining precise deal parameters that allow sales teams to manage the sometimes daunting task of closing complex transactions. It involves coordinating the work involved in writing, completing and publishing the closing book / deal binder, as well as ensuring that contracts are carried out within a specific time frame. By establishing clear processes to assist sales reps, companies can speed up the closing of each deal and generate more revenue in a shorter time.

Effective deal management removes any inefficiencies caused by human error or personal preference. Sales reps can be more proactively with the use of a refined process for deal making. Relevant behavior is supported by a repeatable process and the customer experience is improved by consistent communication.

In addition, having a robust procedure in place allows you to pinpoint and address any issues that could arise before they become a problem. It allows you to provide accurate and predictable sales forecasts as well as ensure that your team adheres to the best practices at every opportunity.

To make the most of your deal management efforts put your money into a CRM that automates the process, allows you to build unique pipelines, as well as gives you the ability to monitor each opportunity in real-time. With fresh data, visual reports, as well as AI-driven predictions which allow your team to make better decisions that lead to faster effective sales, better efficiency and better business results. Freshsales is one example. It lets reps see their pipelines and deal information in one place. It allows them to drag and drop deals to increase precision.

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