SDP “is a defined series of steps you follow as you guide prospects from initial contact to purchase.” [1] This method includes planning specific timelines and milestones at the beginning of a sale, both internally and with the business customer.
SDP software allows customers and vendors to work collaboratively throughout a sales cycle with the objective to close larger/longer deals faster.
An article in the Harvard Business Review by Andrew McAfee and Eric Brynjolfsson, says market competition in the United States is heating up “not because more products are becoming digital but because more processes are.
Just as a digital photo or a web-search algorithm can be endlessly replicated quickly and accurately by copying the underlying bits, a company’s unique business process can now be propagated with much higher fidelity across the organization by embedding it in enterprise information technology.
Problems can occur if the company implementing a new SDP system does not outline a realistic sales approach to roadmap the process.
Sales and Marketing experts recommend that companies speak with their salespeople and their customers for insight in order to achieve a successful implementation of a formalized SDP system.