As your corporate development team takes on more deals and strategic opportunities, your team needs a solution that can keep up with the growing workload. To manage and collaborate on deals more efficiently and strategically than ever, firms are turning to tailored software built for their needs. That’s why Progress Software adopted Intapp DealCloud — an AI-powered deal and relationship management platform built for corporate development.
Since implementing DealCloud, Progress professionals have been able to better connect with their prospects and partners, managing deals with more than 300 companies per quarter. The firm’s internal teams have also been able to better connect with one another: Jeremy Segal, Executive Vice President of Corporate Development at Progress, noted how DealCloud’s mobile app lets him immediately notify his team after landing an agreement with a prospect — ramping up internal mechanisms to help seal the deal later.
Learn more about how DealCloud deal management software helps Progress connect its strategic and corporate development teams — and discover how you can tighten your team’s corporate development workflows, too.
Use a deal management suite to prioritize your goals at weekly check-ins
Weekly check-ins are an efficient way to gain visibility into what your team is doing. By holding regular meetings, your team members can share critical company, deal, target, and relationship information. They can then determine what work to prioritize, designate resources to fill gaps, explore critical insights, and sync your firm’s goals.
It can be hard to schedule regular meetings, especially now that many teams are spread out and working remotely from different time zones. That’s why it’s critical that teams make the most of these meetings and use the time wisely.
DealCloud’s data management platform lets users easily review target watchlists and deal data in real time, from anywhere. Users can come better prepared to meetings so they can focus their discussions on prospects and action plans.
Identify the most qualified leads by categorizing deals and tracking activity
Categorizing key relationships and deals lets you easily identify, manage, and analyze your leads, so you can make better-informed decisions faster. If one prospect falls through, you can determine the best prospect to focus on next.
Segal’s team members use DealCloud to break deals down into the categories that best suit their needs, so they can focus their efforts on leads that will generate the most activity. By reviewing the categories and data that are most important to them, Segal’s team members can successfully increase their workflow agility and optimize their efforts.
Automate AI-driven recommendations to maintain proactive outreach
Just because a lead isn’t interested in having an M&A conversation now doesn’t mean they won’t be interested in the future. To stay ahead, it’s crucial to maintain proactive outreach with your key relationships.
Rather than relying on disjointed tools like project management boards or spreadsheets, you can consolidate all your contact information and insights within your deal management software. And with an AI-powered deal management system like DealCloud, you can go beyond basic tracking and ensure no opportunities are missed by using relationship signals.
Relationship signals analyze communication patterns, frequency, and industry news to assess relationship strength. They also provide AI-driven reminders for follow-ups as well as recommendations on who to engage with, when, and how. This lets you focus your efforts on the relationships that matter most, maintain consistent communication, and approach each interaction with personalized, actionable insights.
Improve visibility across your entire enterprise, including the C-suite
Consolidated deal management systems are valuable to everyone, from C-suite leaders to dealmakers. When your C-suite professionals have access to key deal information — including activity, progress, revenue generation, workflows, and pipeline — they will better understand your processes and make better-informed, strategic decisions to improve those processes. For example, C-suite leaders may determine how to remove certain workflow obstacles, or they may invest in any training your dealmakers need.
DealCloud automatically produces user-friendly reporting that demonstrates your team’s true value to your organization. You can also easily manage user permissions and set up role-based visibility, allowing you to break down informational silos and proactively distribute internal reports. This helps keep everyone up to date and lets insights flow through all levels of your organization.
Use relationship data to enhance critical conversations as they occur
Leads want to feel confident that you understand their needs — but without the right software, it’s hard to keep track of details for multiple companies at once. An AI-powered deal management solution like DealCloud can help you better align with your strategic objectives by digging into deep wells of information regarding the companies you interact with.
Imagine that, during a conversation with a prospect, the prospect references a different company or a prior interaction. With DealCloud, you can quickly pull essential, relevant data directly from the solution during your conversations — allowing you to make key decisions faster and strengthen your target relationships.
For example, Segal previously used DealCloud’s AI-driven insights on a group call that included an executive and a prospect. When the prospect mentioned a third-party company, Segal was able to access and send the information directly from DealCloud, allowing the executive to seamlessly integrate the information into the conversation.
Vertical AI tools like DealCloud can also provide valuable additional context via concise summaries of detailed records, data-driven insights, and tailored, generated emails — helping teams stay up to date and drive deals forward.
Switch from spreadsheets to a consolidated deal management system
Despite working with prospects who use advanced technologies, many dealmakers are still using spreadsheets — which are cumbersome and difficult to analyze — to store their prospects’ information. A consolidated deal management system, however, will give your entire team greater insights into the deal process — including detailed information about companies, decision-makers, and historical investment data.
By consolidating target and pipeline data, DealCloud strengthens collaboration and provides a comprehensive view to drive smarter decisions. And it eliminates manual data entry by using zero-entry technology to automatically sync activity data — saving hours of work and reducing errors. That data is further enriched with industry insights, creating a centralized system where your team can easily store, access, and analyze deal information.
Tighten your corporate development processes with DealCloud
Each conversation with a target company can potentially lead to a deal agreement. DealCloud helps corporate development teams improve their workflows and pipelines with minimal transitional effort by providing all the tools they need in a single intuitive platform. By improving your corporate development processes, you can reach the dealmaking stage faster.
DealCloud also manages the details of target relationships, enhances data accuracy, and provides better visibility into firm data. Rather than funneling more deals down your pipeline, you can access DealCloud’s relationship and deal sourcing intelligence to focus on the best deals possible.
Start having M&A conversations with the right people at the right time. Schedule a demo of Intapp DealCloud today.