When choosing vdr a dealmaking software, it’s crucial to take into account your team’s specific needs. The features you’re looking to find in a software program will be influenced by the size of your team, its structure, and the number of stakeholders within your team. A small startup, for example might have different requirements than a large private equity or venture capital firm.
You’ll want to choose a tool that lets you monitor and manage a client’s progress from signal to close. Additionally, a central document management feature allows you to share documents with external and internal stakeholders without having to leave the platform. In addition, you’ll require an application that provides pipeline management, which allows you to monitor progress metrics from signals to the end.
You’ll also need an automation solution to make it simple to collect and manage data points. This can help you save valuable time and prevent missed opportunity by eliminating the need for manual data entry. You’ll also want to make sure that your software has security of an enterprise level, which includes SOC 2 compliance and GDPR compliance. This will safeguard your data.
Then, you’ll need a solution that will provide relationship intelligence to allow your team to activate their networks and seal more deals. For example an equity firm that is private can use relationship intelligence to determine key contacts and the potential chance to make a difference in a negotiation. It’s also important for a company to be aware of the full range of BATNAs as the best option to a current contract.