Your guide to Deal Room software

A little hyperbole never hurt anybody, and besides — it's not too far from the truth: Deal Room software has the potential to transform the way you and your sales teams work.

From facilitating centralised content sharing and supercharging your sales progression to giving you previously inaccessible buyer insights, there are so many ways that it will improve your processes and performance.

Deal Room software is designed to help you get organized, boost your sales velocity, and increase your win rates.

It'll accelerate your sales progression

Sales progression is the crucial process of taking your potential customers from initial interest to making a purchase. It can be a complex journey, involving nurturing leads, addressing buyer concerns, uncovering hidden key decision makers, and ultimately sealing the deal. Without effective sales progression, you risk losing out on valuable opportunities and revenue.

So where does Deal Room software come into this?

Well, everywhere really.

Streamlining and centralizing the entire sales process, Deal Room software (and digital sales room as a whole) plays a pivotal role in enhancing sales progression and helping entire teams become more strategic when conducting deals.

It provides a secure digital space where all relevant sales documents, communications, and tasks related to a deal are organized and easily accessible — for both buyer and seller. This all means that sales teams can collaborate efficiently, keeping everyone on the same page and accelerating sales velocity as a result.

Alongside that, Deal Room software like GetAccept has features such as mutual action plans (MAPs), real-time deal analytics, and automated reminders that help to maintain momentum and prevent potential bottlenecks as a deal progresses.

A Deal Room is a place where you meet your buyer; a virtual space for you and them to manage the complexities of a deal in a simple way.

From your perspective as a the seller, it's a way of managing all of the information, collateral, communication, and commitments being shared among multiple stakeholders.

And from the buyer perspective, it's all about being able to understand, in an organized way, what a vendor is offering. It's feeling comfortable, informed, and seeing a clear path towards making a decision.

Deal Rooms offer the perfect way to personalize the sales process

There's a whole lot of competition out there, and 39% of revenue leaders say theirs is the leading cause of lost deals. The bad news is that it's probably not going to get easier any time soon; but the good news is that there are plenty of things you can do to make yourself stand out in the crowd.

A key one being to embrace personalization.

Tailoring the sales process to meet the unique needs and preferences of individual buyers has quickly become essential for creating meaningful connections, building trust, and ultimately driving conversions.

Deal Room software like GetAccept helps you to bring a personal touch to online selling, providing ample opportunities for reps to make a stand-out impression:

• You can record videos directly in each Deal Room to create a personal connection with your buyer.
• Share dynamic, interactive, and easy-to-navigate documents tailored perfectly to each buyer.
• Chat directly with your buyer in the Deal Room you create for them.
• Use our comments feature to focus each stakeholder's attention on the content that matters, have efficient discussions in context, and ultimately make your deal progress smoother.
• Welcome and chat with additional stakeholders who have been invited to view the Deal Room.
• Deal Room analytics data, like understanding which bits of your content buyers are reading and level of engagement, mean you can further personalize your sales approach and tailor future interactions accordingly.

The tracking and deal analytics data available with Deal Room software can open up a whole new dimension of selling.

Take document tracking, for example. With GetAccept, you're able to understand how buyers are interacting with your content. This is useful for understanding what prospects find interesting, confusing, or problematic.

E.g. Have they whizzed past pricing & plans but repeatedly returned to the integration details? Then you know where your focus should be and how your follow-up discussions should begin.

You can even tell if they haven't read a piece of content, allowing you to use a feature such as commenting to drive engagement back to where it's needed.

And with activity monitoring, you'll know when buyers log in, what actions they take, and how frequently they visit the Deal Room. This is useful for highlighting patterns in their behavior, which can provide valuable insights into the level of interest and the stage of their decision-making process.

Deal Room software comes with features designed to help you transform your selling process, empower your reps, and captivate your buyers. In this section, we take a look at 6 customer favourites, from time-saving templates and automations to tracking and analytics that will be your sixth sense for closing deals.

Create document templates for different sales processes and use the content library to organize collateral that pushes deals forward.

Moving away from static PDFs to dynamic, easily customizable Deal Rooms is a surefire way to boost efficiency in your sales processes and shorten your sales cycles.

Starting from scratch, or beginning with a template, rev ops managers and marketing teams can work together to create a collection of on-brand, ready-to-use Deal Room templates for sales reps. They can be created for each buyer tier or buying stage, for example.

This means that when a rep is ready to kick off a deal, they simply select the relevant template, add any personalization elements, and tailor it to fit the specifics of the opportunity.

Thanks to features like Placeholders, admins can indicate what kind of content needs to be shared in a particular place, while still giving reps the freedom and creative license to make decisions based on each deal.

If you're working with our CRM integration (e.g. for Salesforce), merge tags can be included in the templates so that pre-specified data fields are automatically populated with opportunity data, once again personalizing the room for a specific customer, saving a lot of time, narrowing the margins for error.

Think about all the content that a rep sends across the lifetime of a deal: emails, links, explainer videos, pricing information, case studies, ebooks, slide decks, contact information, terms and conditions, etc. etc. The list goes on and on, and it's a whole lot to keep track of.

Deal Room software is the pain relief you need for this problem, providing you with content libraries that seriously structure and simplify processes for departments across the organization.

For marketing and rev ops, it means that you have full control over the content available for the sales team to share in their Deal Rooms.

As for reps, there's no question about where you can find the right collateral, for the right buyers, and share it at the best time in the sales process. Ultimately, the Deal Room offers them a way to create a space tailored for a specific prospect's needs — in minutes.

We can all relate to sitting in a great meeting, brilliant ideas and promises abounding, only for the ball to be dropped the moment the meeting ends. The good news is that you can easily avoid this happening in your sales processes by using mutual action plans.

Designed to be a shared space for creating commitment between buyer and seller, MAPs provide a clear overview of what needs to be done, who needs to do it, and when it should be finished. The result: accountability, action, and speed in your sales process.

For integration users, GetAccept Deal Room MAPs are seamlessly integrated into your CRM. This means that existing dashboards and reports are enriched with data (milestones, tasks, users assigned, etc.) to give you the most accurate overview of your team's progression towards their goals.

You've spent a lot of time prospecting, writing emails, and pulling together content, only to have no idea whatsoever if the buyer has read or even received it.

Imagine if you could do all of that and more; like understanding which bits of content your prospect spent the most time reading or additional stakeholders that they've forwarded the Deal Room on to.

You guessed it: That's all possible with Deal Room software like GetAccept.

For reps, Deal Room analytics data is like a sixth sense for speeding up the sales cycle. You can keep a tight watch on latest activity to make sure that you're responding to your buyers quickly or roping in additional stakeholders that you weren't initially aware of.

And if you're sending Deal Rooms cold, like Visit Linköping, you can instantly identify your hottest cold leads.

For sales leaders, Deal Room analytics give you insights into your top performers, the number of active deals currently in the pipe, how many have fallen into the 'Valley of Death', and ultimately where you and your team need to focus your attention.

Engage your buyers and build stronger relationships with features like personalized videos, in-room chat, document commenting, and MAPs.

Being successful in sales is increasingly linked to building strong relationships with your buyers. And relationships rely on communication — something that Deal Rooms are designed to make even simpler and more effective.

With in-room chat, you can communicate in real-time with your buyers about the details in a Deal Room. This helps to keep all deal-related communications in one place, removing the burden of having to keep track of multiple email chains and messages.

It's also brilliant for making sure that any new stakeholder entering the Deal Room can instantly access and get up-to-date with all of the discussions surrounding the deal.

As for our commenting feature, this is the perfect way to allow your buyers to comment directly on the material you send them — and for you to guide the right stakeholder to the right content. This helps to create absolute clarity in your discussions from the get-go, making it easier to get the info and alignment you need to progress a deal.

Automations help you to scale up your sales process, reducing the time it takes to get from one step to the next. They also help to cut back on time-consuming administrative tasks, increasing efficiency for reps and significantly reducing the room for admin errors.

With GetAccept Deal Room software, there are 4 main ways that automations can help you to get work done — faster:

1. Follow-ups, like pushing automated documents and notifications.
2. Custom-triggers, which pull input data from business inquiry forms (like your 'Book a Demo' form, for example) directly into your sales documents.
3. Auto-send documents, so that they are delivered automatically on completion of a certain action or at a scheduled time.
4. Auto-triggering CRM & ERP updates to keep your records accurate and up-to-date, initiate sendouts, populate them with data from your system, and deliver them.

For integration users, there are even more options. For example, you can use Salesforce flows to automate Deal Room creation between opportunity stages, or choose to have stages updated based on developments in your GetAccept MAPs.

Ultimately, the sky's the limit.

By now you know what a Deal Room is, you’ve got some use cases, and we’ve explored the key features. Now we've reached the part of this guide where we examine how all of this comes together to deliver tangible, business-boosting benefits.

We'll summarise how the software can help you to bring order to your sales processes, empower you to supercharge your sales velocity, increase your win rates, put your best foot forward, and rev up your RevOps.

Revenue leaders and RevOps managers might know the feeling well: You're unsure of how many deals you currently have in the pipe, it's hard to tell which ones are hot, and you're a little bit horrified by the state of the PDF doc your new rep has cobbled together and sent to a prospect.

Deal Room software is the perfect solution for helping you to tackle all of these concerns. It's your answer to creating a repeatable sales process that turns all of your reps into top performers. This is essential, given that data shows 17% of reps currently generate 81% of revenue. That's far too much reliance on too few sellers, and imagine the payoff when you can have every rep following in the footsteps of your best.

The software allows you to set up, and easily maintain, best-performing sales templates and collateral that your reps can use and tailor with confidence. And the analytics dashboard means you never lose sight of what's happening to the deals in your pipeline.

Combined with the contracting, quote generation, and e-signature functionality of the full digital sales room experience, Deal Rooms are the answer to bringing sustainable structure, speed, and success to your sales processes.

The biggest buzzword on the block for a reason, sales velocity refers to how quickly you're moving deals through your pipeline and turning them into revenue. And Deal Room software can help you increase yours in a few key ways.

It offers a cohesive platform where you and your reps can access and organize resources in an efficient way, collaborate effectively, and deliver engaging experiences to your prospects. All of which works together to expedite the sales cycle, drive faster conversions, and ultimately lead to increased revenue growth.

Which brings us nicely on to our next point.

Investing in Deal Room software is a bit like having a secret weapon to boost your performance in negotiations.

It all comes down to teamwork: By bringing everyone together on one platform, it makes collaborating and sharing information a breeze. Plus, it's like having a window into the deal—everyone can see what's happening in real-time, which builds trust and confidence.

And the best part? It takes care of the nitty-gritty stuff, like organizing documents, sending automatic notifications, and giving you useful analytics data, so you can focus on sealing the deal.

For our customer SalesScreen, the Deal Room creation process has ramped up their strategy and, as a result, their performance.

Their VP of Sales loves the Deal Room creation process because it helps reps to follow their MEDDPICC practices and provide clear, value-based information to prospects.

This, alongside the analytics insights available to them, means that the company has seen a 100% increase in their win rate since implementation.

One. Hundred. Percent.

The RevOps goal is to align sales, marketing, and customer success with a view to enhancing efficiency, boosting revenue, and creating a great customer experience, right? Then Deal Room software is the sidekick that RevOps might not yet realize they need.

When it comes to team alignment, Deal Room templates and the accompanying content library are the perfect solution for bringing sales and marketing together to create and gather on-brand, up-to-date collateral.

And we've already talked so much about how Deal Rooms help revenue teams to create efficiencies in their processes. From sales process templates to engagement features like in-document chat and tracking, you've got everything you need to streamline your processes and keep a close eye on the day-to-day running of the sales organization.

Finally, for customers, there are multiple features of Deal Room software that also make their experience better. Take in-document chat and commenting, for example. Buyers no longer need to switch between PDF, emails, and whatever other forms of communication you once had going. Now, they can do everything directly in the Deal Room you've created.

And it's so much easier for customers to get additional stakeholders involved in a deal when it takes place in a Deal Room. They simply send a link and can rest safe in the knowledge that their colleague will see all of the same content and messages that they have. It's all just so convenient.

We've already shared the fact that for 39% of businesses their competition is the leading reason why they're losing deals. And while there are lots of different things a revenue team can do to sharpen their competitive edge, a good place to start is with making yourself stand out in the crowd.

With Deal Room software, you can retire your tired, static PDFs and scattered emails. Instead, you gain the ability to create interactive, engaging sales documents that beautifully present your brand and your offering to your prospects.

Take Visit Linköping, another one of our customers, for example. Before working with GetAccept, they were sending PDFs to their leads. And this solution wasn't working for them. They were finding it difficult to stand out amongst their competitors and they had no idea who was reading or interacting with the PDFs.

Cue implementing GetAccept and they're now receiving unsolicited positive feedback from the participants in their Deal Rooms! They can also track who is entering their sales documents and therefore actively and quickly secure the deal before their competition gets a chance.

So, the question is: How can companies invest in tech that will genuinely help their revenue teams without overwhelming reps?

We think that levelling-up your CRM could be the answer. After all, you've already invested significantly in it, and it makes sense to select integrations that will help you to boost your ROI while giving you the tools you need to scale your best processes, increase efficiency, and allow your reps to complete the entire sales process in one place.

In this section of the guide we look at how integrating Deal Room software into your CRM can give you useful new functionality and boost overall adoption while enabling you to maintain one source of truth.

Integrating Deal Room software into the CRM is the perfect solution for effectively bridging the gap between internal operations and the customer experience.

For the best RevOps teams, this is an essential goal because it brings heightened focus to the customer-facing, revenue generating processes that they're working to optimize. And the result? Increased win rates and reduced cycle time, thanks to knowing exactly where to focus efforts and get more deals across the finish line.

With GetAccept's integration, you can tap into the functionality and features of our Deal Room software directly from your CRM. This means that reps can create, share, and track their sales documents without ever leaving Salesforce, Microsoft Dynamics, Hubspot, or Pipedrive.

Your tech stack? Consolidated.

All in all, a Digital Sales Room solution helps to complete the sales experience. It's the buyer engagement interface that takes your CRM beyond the Opportunity workflow, giving you better control over your pipeline and making it easier to engage with your buyer.

We know that the CRM is a huge part of the work revenue teams do. It's where you start and end your day, and it's an important source of information for the whole company. We also know that companies invest a lot of time and resources into their CRM setup and want to see the best possible ROI.

However, many companies experience issues with low CRM adoption and upkeep among reps. Some reasons for this include:

• Many buying and selling activities are happening outside of the CRM and reps are struggling to juggle too many tools.
• Some CRM features are too technical and not intuitive to use, which can make it difficult to get reps onboard.
• There can be a lot of admin work involved in keeping the CRM up to date.

So how can integrating Deal Room software into your CRM help?

• Rather than conducting deal discussions outside of the CRM, reps can begin and end the sales process entirely within it. This eliminates tech overwhelm and increases simplicity.
• It brings buyer engagement insights directly into the CRM so that your reps have everything they need to make data-driven decisions about their deals — in one place.
• With GetAccept, it's easy to get started without technical hurdles. Take our Salesforce integration, for example. It's a native app, which means that it lives entirely within Salesforce and doesn't need to be connected with an API.

Your CRM is the fount of all buyer information. And that's great. But what's missing is crucial insights into buyer behaviour such as document interactions, stakeholder involvement, and potential roadblocks.

To achieve this full 360-degree view of your sales journey that will enable you to make more effective decisions, it's vital to look beyond internal CRM activities and integrate external buyer insights. And GetAccept's Deal Room provides this by giving you:

• The ability to track whether, and how, buyer's are interacting with your sales documents.
• An understanding of whether the buyer's actual engagement is matching the progress status of the deal in your CRM.
• Insights into which parts of your collateral buyers are spending most time on. This can help you to understand what questions a buyer might have or where the roadblocks are for them.
• An insight into additional stakeholders who are involved in a deal. E.g. Has your lead forwarded content? And if so, to who?

It can be tricky for revenue leaders to have full transparency in sales performance and achieve accuracy in pipeline forecasting.

This can be the result of a few factors, but can include issues like discrepancies between the CRM deal stage and what's actually happening in a deal. Or reps simply forgetting to update records at key milestones.

The good news is that a lot of this can be solved by integrating Deal Room software into your CRM and embracing the enhanced power of mutual action plans:

• GetAccept mutual action plans become even more valuable when they are linked to your CRM. You get an overview of all active MAPs, and have access to data like milestones, tasks, completion rate, deadlines, and task owners.
• You can easily set up automations to update the deal stage in your CRM based on the completion of certain milestones in the MAP.
• You'll get real-time notifications within the CRM any time that a MAP is updated. This will keep you up-to-date with what's happening in every deal.
• You can more accurately forecast your pipeline because you'll have a clearer idea of how many deals are in their final stages.
• Thanks to the overview of all MAPs and their completion rate, you'll have a better understanding of how deals are progressing. This will let you act proactively on potential roadblocks. For example, if you can see that a lot of deals are getting stuck on Milestone 3, you'll know that your team might need some coaching in this area.

Combining your CRM and your Deal Room software is a good way to significantly reduce the amount of admin tasks reps have to manage when conducting a deal. This frees up time for them to focus on building relationships and pushing deals through to the finish line.

When integrating to your CRM, information like buyers' data, meeting notes, or next steps (MAPs) are automatically synced between the CRM and the Deal Room. This makes it easier for reps to fill in all required information in one place without the need to manually input the same data twice.

It works by using GetAccept's document editor with merge tags, allowing your custom CRM data to be embedded into the text, ready formatted, leading to an automated document creation process.

By now, you've delved into the ins and outs of what deal rooms are, explored their myriad use cases, uncovered key features and benefits, and even learned how seamlessly they integrate with your CRM.

But now, you might be wondering, 'Is deal room software the right fit for me and my team?'

It's a valid question, and one that deserves thoughtful consideration. With that said, let's look at a few key factors that indicate you might indeed be ready to take the leap.

Deal Room software is invaluable for teams navigating the intricacies of complex deals with lots of moving parts. So if your deals are characterized by any of the following factors, Deal Room software could be a great solution for you:

• Customization requirements. Are you offering highly tailored solutions or products? Do you spend a lot of time exploring the specific pain points of your customers in order to provide the best solution? Deal Room software can help you to navigate intricate specifications and ensure alignment with your buyers' expectations.
• Multiple stakeholders. Deals involving more than one decision maker often require a lot more extensive coordination and negotiation that a Digital Sales Room environment can help with.
• Long sales cycles. Deals that span over a longer period of time, involving multiple touch points and evaluations, can benefit from the organizational elements of the software.
• Technical complexity. Sales involving advanced technology, intricate systems, or APIs demand a solid method of addressing customer concerns and demonstrating the value proposition effectively.
• Competitive landscape. In highly competitive markets, sales teams must differentiate their offerings — and Deal Rooms, with all of their personlization features, make it so much easier to do that. Just ask Visit Linköping.
• High financial stakes. Deals with significant financial implications, such as large investments or long-term contracts, often require meticulous planning and negotiation to mitigate risks and maximize returns.

Digital Sales Rooms software as a whole can still be useful even if you're not dealing with complex cases. E.g. You can use our Contract Room module to send proposals and collect e-signatures.

If you are part of a sales team where you have a lot of content to share with your stakeholders, then Deal Room software can help you to take control of your collateral while still granting reps flexibility. It offers:

• The ability to create quality sales document templates for every part of your sales process. You know that reps are always beginning their deals in the best possible way, while allowing them the option to tailor the content to each specific buyer. This is now made even easier with functionality like our 'Placeholder' feature.
• A centralized repository for all of your sales collateral. In the content library, you can store case studies, images, product documentation, and so much more. By organizing content in one location, teams can easily access the latest materials, ensuring consistency and accuracy across all sales interactions.
• Version control. Deal room software enables version control, ensuring that sales teams are always using the most up-to-date collateral. This prevents the dissemination of outdated or incorrect information, maintaining the quality and relevance of materials.
• Customization and Personalization: Each Deal Room can be customized and fine-tuned to make the sales documents you send feel like it was made just for that buyer — because it was. This personal touch not only boosts engagement but also amps up your effectiveness, making those connections count where it matters most.

Research by Ebsta shows that 17% of reps generate 81% of revenue. It's never a good idea to put all of your eggs in so few baskets, so the smart thing to do is figure out a way to replicate this success and arm all of your sellers with the tools to achieve it.

In many businesses, the best reps are naturally crafting great experiences for their buyers. This could be down to having a knack for building effective sales documents and emails, or choosing the best collateral to share at the right time.

Deal Ream software allows you to replicate the work of your top performers by building templates for each part of your sales process, incorporating everything you know works well. This then means that every single one of your sellers can be confident in the knowledge that they are set up to succeed every time they begin working on a deal.

We've already explored the benefits of integrating Deal Room software like GetAccept into your CRM. But here's another useful summary of the added value this combination can bring to you and your team:

• A more streamlined workflow. Imagine having all your sales tools in one place, seamlessly moving from finding leads to sealing the deal. With digital sales room software linked to your CRM, you can say goodbye to juggling between platforms and hello to a smoother workflow.
• Everything in one place. The Deal Room module acts as a centralized repository for all deal-related information. From documents to chats, it's all there, neatly tied to your CRM records. This gives you a crystal-clear view of each deal's journey, helping you make smarter decisions along the way.
• Teamwork made easy. Deal Room software creates collaboration between sales team members by enabling them to work together on deals in real-time. From directly within the CRM, users can leverage features such as document sharing, commenting, and task assignment to coordinate efforts and drive deals forward more efficiently.
• Increased productivity. Pairing up Deal Room software with CRM systems streamlines administrative tasks, automates repetitive processes, and reduces manual data entry. Instead, your reps can focus their time and energy on value-added activities such as prospecting, relationship-building, and deal strategy, ultimately driving higher productivity and performance.
• Even better insights. Combine CRM data with deal room analytics, and you've got yourself a goldmine of insights. Suddenly, you can track key metrics such as engagement levels and deal velocity, allowing you to identify trends, optimize strategies, and prioritize high-value opportunities.