5 ways deal management software helps close B2B deals faster - Enable blog

▤ Summary

According to research by Forrester and Aberdeen, it can take an average of 3.4 weeks to get a contract approved and close the deal.The time lost during this critical phase of the deal management process is amplified if you’re spending too much time constantly chasing the right parties to sign off on each B2B contract and close the deal because documents are constantly slipping through the cracks when using email or other inefficient manual processes.If you could close your deals faster how much would it impact your bottom line and cash flow? Up-to-date templates, automated workflows and e-signatures reduce the time it takes to create contracts, share, edit, and get external sign off. Companies using a manual approach for their deal management, will find they have to go back and forth over email or phone to make changes to their B2B contracts, but what if you could interact with them in one place? This dramatically speeds up the closing of your deals as you can sort any discrepancies and means everything is agreed in an easy, accessible location in the cloud. When searching for the right deal management software you should look for these value-adding features: • Centralized deal repository • Robust audit trail • Automatic calculation of rebate earnings • Approval workflow for internal staff • Financial accruals for rebate earnings • Integrates with any ERP • Sign-off workflow for suppliers • Reporting and forecasting • Collaborate with your trading partners

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