How a deal desk can help manage complex deals?
Deal desks can reduce sales cycle times by 25 to 40%, enhance sales productivity by 15 to 20%, and increase corporate profitability by 5 to 10% - According to statistics from PwC
Today, more sales teams are implementing an in-house deal desk process to help evaluate, customize, and finalize each sales deal before closing. Deal Desks provides field sales teams with the tools they need to configure, price, and quote deals. Also, help them coordinate with all the teams to approve and finalize a sale ultimately.
Deal Desk will help your sales team in various ways such as:-
Help Reps Construct Stronger Deals
Utilizing automated deal desk, reps can walk through prospects to identify the right set of products and services. An ideal deal desk can also provide real-time actionable data and allow reps to assess what-if scenarios to see how changing deal parameters will impact the deal.
Automate the Opportunity to Contract Workflow
We all know that manual efforts introduce tremendous risk into your deal because they increase the likelihood of error. However, by leveraging the standard opportunity information and critical terms collected in the sales stage and then automatically including it in the contract language, you can reduce this risk. Further, you will also be able to shorten sales cycles, avoid contract bottlenecks, and drive more revenue.
Provide a Single View for All Stake Holders
By integrating all your data within the cloud you can gain greater visibility into the progression of your deal. Knowing who needs to do what and when, will keep the needle moving and avoid the deal stalling. This will enhance your inter-department coordination, minimize sales cycles and increase your organization’s revenue velocity.
Enable Self-Service for Customers
An effective Deal Desk can offer a customer-facing catalogue in the form of an E-Commerce channel. It allows buyers to navigate product offerings, review each item they wish to purchase and quickly move to transact business.
With this, you can eliminate manual steps and lower selling costs. This helps to transform how you go to market, organize price structures and present a unified brand.
Standardize customer quotes
Companies often run a higher risk of quoting the wrong price or offering the incorrect discount to a particular customer, due to the multiple sales reps working with various customers. Thus, compromising the overall profitability of the deal and the business.
However, with a deal desk, you can keep a closer eye on the pricing and discounting of these opportunities and ensure consistency in the offerings to maintain profitability, keeping customers happy.
Get faster workflow approval
Every complex sale has numerous moving parts and stakeholders who need to be involved in approving the various elements. Each of these approvals needs to run smoothly and in a standardized and predictable manner. A good deal desk function helps your sales reps to get visibility into the deal approval process at every stage of the sales cycle. Rather than sitting on stalled deals, you can speed up the sales pipeline.
A deal desk not only helps to close individual deals, but it also serves as a catalyst for the ongoing growth and efficiency of the entire sales organization. Thus, by making use of a smart strategy and consistent deal desk practices in place, your company can maximize the value of it’s sales analytics, maintain profitable pricing, handle customized features and deals of any magnitude.
Contact Centre Software Solutions also incorporate deal desk as an essential feature in their services, to successfully handle sales.