Managing Business Deals
achieving due diligence finesse with VDR’s systematic approach
It’s not just about making sales. It’s also necessary to ensure that the deal is profitable for both parties. It’s important to minimize risks and avoid deals that could cost you in the long run for your company, either by lowering brand perceptions or capturing minimal profit margins.
To make the right decisions at every stage of a business transaction, your team needs access to all the right information. This is why it’s essential to use revenue management tools that convert your data into contextual alerts. Alerts on Revenue Grid let you know the moment a next step has been added to an opportunity, or when an email sequence is not working and if an offer has been cancelled–all of which can help you ensure that your reps are taking right actions at the right moment.
The right information will also help you build trust and a relationship to your clients during negotiations. Pay attention to any hesitations or concerns in their conversations and feel their pain so that you can respond to their concerns, explain why your solution will meet their needs better and then create an ideal win-win situation. It is also important to consider your own goals and challenges in negotiations so that you can balance short-term benefits with future benefits. To achieve this, leverage multiple offers with different conditions and the same value overall. This strategy is called Multiple Equivalent Simultaneous Offerings (or MESO). If you take an active approach to negotiations, and creating the contract in a draft format with your intended goals in mind it is less likely that you will be the victim of drastic edits that can lower the worth of a deal.
