Deal tracking software is a tool that allows you to monitor your sales leads and track the progress of each. It allows you to analyze the performance and pinpoint areas of improvement for your team. It also lets you manage and prioritize each lead so that you can close more deals in a shorter time.

If you pop your head into a salesperson’s office you’ll probably see them working on a white board. As the deal progresses forward or backwards, they’ll be adding new columns. This can be time-consuming and difficult to keep up with.

A deal tracking solution helps you get rid of this outdated method of logging and tracking deals. With it, you are able to create and manage workflows, pipelines, and pipelines that allow you to track deal stages and milestones. The software lets you personalize and automate work flows assigning tasks, and send reminders. It can be used to concentrate on transactions with high priority, monitor investments in minutes, instead of hours, and give an accurate view of pipeline forecasts using estimates in-line.

A deal management system also provides a central area for storing and integrating all your data. This includes information about the investor who is interested as well as other stakeholders. External experts can also be sought out for due diligence. Some of the features include the virtual data room custom reporting tools, collaboration tools and access security.