Deal management is the process of keeping track of the status, analyzing, and prioritizing deals no matter the stage they’re in your sales pipeline. It also involves communicating and collaborating with your team throughout the sales cycle to increase the quality of your sales and ultimately boost conversions.

The first step in establishing a deal management process is to create a document that outlines your sales strategy, and the steps through the process each deal should go. This will help your team gain true pipeline visibility and streamline time-consuming, repetitive tasks that can hinder productivity.

Next, make sure that all deals have a centralized location where you can track and review them. Freshworks makes this easy by generating an account feed that contains each piece of information pertaining to the opportunity. You can add tasks, indicate the amount of time you spent on the deal, add @mention people and more using this view to bring your team on the same level.

Create mutual action plans with your prospects and customers after establishing clear expectations for each step. This will ensure that both parties are on operational longevity from online storage providers the the same page regarding what has to be completed when, what time and who should complete it. This helps create more efficient and predictable workflows, which improves the odds of successfully closing each deal.

When a prospect has reached the point of converting You don’t want them to lose their interest or get distracted by other things. Even your least experienced staff members will be able to lead the charge with the help of a well-organized, centralized handoff system.