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Hire a Deal Desk Consultant
As Deal Desk Analysts' their role has become increasingly crucial, hiring a Deal Desk Consultant is starting to make more and more sense for many SaaS companies. Having the option of bringing in help in a fractional role by hiring a Deal Desk Consultant gives RevOps/GTM Systems teams a chance to invest in a critical role without breaking the bank and staying efficient.
What Does a Deal Desk Consultant Do?
A Deal Desk Consultant should act as a bridge between Sales, Finance, Customer Success, Revenue Operations, and Legal to facilitate efficient and profitable deal-making while managing potential risks and maintaining compliance.
A Deal Desk Analyst's role is pretty multifaceted, but in general, they handle:
Pricing Strategy: Analyze market conditions and cost structures to determine optimal pricing for products or services, ensuring competitiveness and profitability.
Deal Structuring: Collaborate with sales teams to structure agreements, considering factors like discounts, payment terms, and bundling options to meet customer needs and company goals.
Risk Assessment: Evaluate potential risks associated with deals, including credit risk, contract terms, and legal compliance, and recommend risk mitigation strategies.
Approval Workflow: Establish and manage deal approval processes, involving relevant stakeholders to ensure alignment with company policies and financial constraints.
Data Analysis: Analyze historical sales data and market trends to provide insights that inform sales strategies, identifying growth opportunities and target markets.
Process Optimization: Streamline the quote-to-cash process to minimize errors and accelerate deal closure, enhancing the customer experience.
Customer Interaction: Occasionally interact directly with customers to address pricing or contractual inquiries, ensuring clarity and satisfaction.
Training and Support: Provide Sales teams with training and support on pricing strategies, deal management tools, and processes.
KPIs for a Deal Desk Consultant
The top metrics to track for a Deal Desk Analyst vary depending on the specific goals of the company and the deal desk.
However, some of the most common metrics include:
Deal velocity: A high deal velocity indicates that the deal desk is efficient and effective.
Win rate: Indicates that the deal desk is effective at qualifying and closing deals.
Average deal size: Indicates that the deal desk is working on large and complex deals.
Deal quality: Indicates that the deal desk is working on deals that are likely to close.
Deal risk: Indicates that the deal desk needs to carefully review and manage the deal.
Cost of sales: Indicates that the deal desk is efficient at generating revenue.
Customer satisfaction: Indicates that the deal desk is meeting the needs of customers.
Sales productivity: Indicates that the deal desk is helping sales representatives close deals.
Hire a Deal Desk Consultant
When it comes to hiring a Deal Desk Consultant, tailoring your search to specific criteria is crucial for finding the right fit for your organization's unique needs. Deal Desk Consultants play a pivotal role in optimizing your deal processes, so here are some key considerations to keep in mind:
Match Expertise to Your Company's Stage
Much like Revenue Operations Consultants, the effectiveness of a Deal Desk Consultant can vary depending on your company's growth stage. The challenges faced in deal management differ significantly between startups, mid-sized firms, and large enterprises. Ensure that the consultant you hire has experience dealing with companies at a growth stage similar to yours. A consultant familiar with the intricacies of your specific stage will be better equipped to address your unique challenges.
Define Clear Objectives and KPIs
To ensure the Deal Desk Consultant focuses on your organization's specific needs, outline clear objectives and key performance indicators (KPIs). This step will help both you and the consultant to align on expectations. For instance, if your primary concern is improving deal profitability through pricing optimization, communicate this upfront. Having a well-defined scope for the consultant's work will lead to more targeted and effective results.
Consider Tools and Systems Proficiency
Similar to the need for Revenue Operations Consultants to be well-versed in the tools your organization uses, Deal Desk Consultants should also possess proficiency in the relevant tools and systems. Deal management often involves CRM software, pricing optimization tools, and other specialized applications. A consultant with expertise in the specific tools your company utilizes will be better prepared to make meaningful improvements without disrupting your operations.
Experience at Your Deal Complexity Level
Deal Desk Consultants should have a track record of successfully streamlining processes and optimizing deals for companies that match your deal complexity and deal size. If your organization typically engages in complex, high-value deals, seek a consultant with experience in handling similar transactions. On the other hand, if your deals are more straightforward, a consultant who understands the nuances of simpler deal structures will be more effective.
Evaluate Industry Relevance
Consider the industry expertise of the consultant. Depending on your sector, certain regulatory requirements, market dynamics, and customer expectations may apply. A Deal Desk Consultant who understands the industry-specific nuances can provide more tailored solutions and insights.
Hiring a Deal Desk Consultant with FoundHQ
At FoundHQ, we have a network of over 3,000 Consultants ready to make an impact at your company. Our Deal Desks Consultants have worked with the likes of Auditboard and Deel, and have been thoroughly pre-vetted to ensure quality.
You tell us about your needs.
We match you to 1-3 pre-filtered Consultants.
You interview them and pick the best candidate.
The best part is that we:
Take care of contractual agreements.
Don't charge hiring fees.
Only make sure to embed your Consultant, and then move out of the way.
Make sure you're only paying for the work that get's done.
Tell us about your needs and hire a Deal Desk Consultant in less than 48 hours.
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