Are you tired of seeing your sales efforts fall short and missing out on potential deals? Have you ever wondered why some of your competitors seem to be closing more deals than you? The answer may lie in how effectively they are tracking their sales pipeline.
You could miss out on potential sales and revenue if you’re not using the right tools to track your pipeline. However, the good news is that many pipeline tracking software solutions are available to help you succeed. This article introduces you to the top 10 pipeline tracking software you can use to keep your sales pipeline organized and effective.
So, if you’re ready to take your sales efforts to the next level and stay ahead of the competition, keep reading.
What is Pipeline Tracking?
Pipeline tracking keeps track of your sales opportunities as they move through your sales pipeline. It allows you to visualize and monitor the progress of each opportunity, from the initial lead to the final close.
Imagine you’re a salesperson at a software company trying to close a deal. You’ve had a few meetings with them, provided some product demos, and sent a proposal. Now, you’re waiting for their decision. This is where pipeline tracking comes in.
You can use pipeline tracking software to visually represent your sales process, with each stage represented by a column or stage. You can move the opportunity from one stage to the next as it progresses through your pipeline.
For example, you might have columns like:
- Proposal Sent
Each opportunity would start in the “Lead” stage and move to the next stage as it progresses.
With pipeline tracking, you can see the opportunities in each stage, the ones progressing quickly and those stuck in one stage for too long. It will help you identify potential issues and make data-driven decisions to improve your sales operations.
What is Pipeline Tracking Software?
Pipeline tracking software is a tool that automates the pipeline tracking process. It helps you keep track of your sales opportunities and provides a visual representation of your pipeline. It can also help you analyze and optimize your pipeline by providing data and insights.
Many pipeline tracking software tools are available, ranging from simple spreadsheets to more sophisticated platforms that integrate with other sales tools like CRMs, email marketing, and lead generation tools.
Pipeline tracking software can help accelerate your sales process in the following ways:
1. Better visibility and control
You can get a visual representation of your pipeline, giving you a better understanding of your sales process. It lets you identify bottlenecks and roadblocks that might slow your sales process.
2. Automated follow-up
The software can automatically remind you when to follow up with prospects, reducing the risk of missed opportunities. Leveraging automation has helped 61% of businesses exceed their revenue targets.
3. Data-driven insights
You can get crucial data and insights to optimize your sales process. For example, you can analyze your pipeline data to identify which sales process stages are taking the longest and why. The information offered by pipeline tracking software will allow you to make informed decisions about improving your process and accelerating your sales cycle.
4. Improved collaboration
Companies with good collaboration index experience an increase in sales by 27%. Pipeline tracking software is thus the answer if your team wants to collaborate more effectively. Shared access allows everyone to remain on the same page and work towards achieving common goals.
5. Faster decision-making
You can get real-time information about your sales pipeline, allowing you to make faster and more informed decisions. For example, you can quickly see which deals will likely close and prioritize your efforts accordingly.
Current Challenges in Pipeline Tracking
Here are some challenges in pipeline tracking that sales teams may face without pipeline tracking software:
1. Inconsistent tracking
Tracking pipelines can be inconsistent without a centralized system, leading to inaccuracies and missed opportunities. Each salesperson may have their method for tracking deals, making it difficult to get a clear view of the overall pipeline.
2. Limited visibility
Tracking pipelines without a software solution can make it challenging to get a comprehensive view of the sales process. It can be difficult to see the entire sales funnel and identify areas that need improvement.
3. Difficulty forecasting
Accurate forecasting is essential for any sales team, but it can be challenging to make accurate predictions without a software solution. Without a centralized system, it can be difficult to see which deals are most likely to close and which are in danger of falling through.
Tracking pipelines without a software solution can be time-consuming, taking sales reps away from other critical sales activities. Without an automated system, sales reps may spend significant time manually entering data and updating their pipeline, leading to inefficiencies and lost opportunities.
5. Human error
Sales reps may forget to update their pipeline or enter inaccurate data, leading to inaccurate forecasting and lost opportunities. “And any kind of bad data ends up having pretty nasty effects on the bottom line, which is very important in today’s macro environment. For example, missing contact data or incorrect emails hamper sales, marketing, and pipeline efforts,” Melissa McCready, Founder and CEO of Navigate Consulting Group
Drawbacks of Poor Pipeline Tracking
Poor pipeline tracking can have the following drawbacks for sales teams:
1. Missed opportunities
Without an accurate view of the pipeline, it’s difficult to identify leads needing follow-up or determine which deals will likely close soon.
2. Inefficient use of time and resources
A poor pipeline tracking mechanism may lead to your sales reps spending too much time on deals that are unlikely to close. They could also end up neglecting leads that could be more promising.
3. Difficulty forecasting revenue
It is difficult to predict revenue accurately when there is no clear view of the pipeline. It will lead to inaccurate forecasts, making it difficult to execute strategic decisions.
4. Lack of accountability
Pipeline tracking provides transparency into the sales process, which helps hold sales reps accountable for their performance. Without accurate tracking, it’s difficult to know if sales reps are meeting their targets or if they need additional coaching and support.
5. Slow sales cycle
Sales reps may struggle to move deals forward and close deals quickly without a clear picture of the pipeline. It will lead to lost opportunities and missed revenue.
What Does a Pipeline Tracking Process Look Like?
Here is a general outline of what a pipeline tracking process looks like:
1. Define the stages of your sales process
The first step includes defining stages like prospecting, qualifying, proposing, and closing. Defining your stages is essential for tracking the progress of your deals and understanding where each deal stands in the pipeline.
2. Assign values and probabilities to each stage
The second step involves determining the dollar value of each deal and the probability that it will close at each stage. Assigning values and probabilities allows you to forecast revenue accurately and prioritize deals based on their potential value.
3. Track your deals in each stage
This step involves recording information like the prospect’s name, the deal’s value, the pipeline’s stage, and the probability of closing. Tracking your deals allows you to see the progress of each deal and identify areas that need improvement.
4. Analyze your pipeline
This is a crucial step where you can identify trends and opportunities. It involves looking at metrics like the number of deals in each stage, the conversion rates between stages, and the value of deals in each stage. You will be better equipped to identify improvement areas and make data-driven decisions.
5. Update your pipeline regularly
Regular updates to your pipeline ensure it remains accurate and up-to-date. It involves regularly reviewing and updating your deals and adjusting values and probabilities as necessary. You will also get a much better view of your sales process.
10 Pipeline Tracking Software for 2023
Now that you know most of the things about pipeline tracking, here are the top 10 pipeline tracking software solutions that will help you implement the process smoothly.
Nektar is an efficient pipeline tracking software designed to help sales teams identify risks early in the pipeline and enhance the integrity of their CRM data. With its user-friendly interface and comprehensive analytics, Nektar offers timely insights into pipeline progression to revenue leaders, allowing them to make informed decisions about their sales process.
Nektar alerts sales teams about potential risks before they threaten revenue by tracking deal value, stage progression, and win probability. This early warning system allows sales teams to take corrective action to mitigate risk and improve their chances of success.
Furthermore, Nektar ensures sales teams have accurate and up-to-date information about their deals by automatically capturing data from varied sources. It improves the accuracy of sales forecasts and allows sales teams to make more informed decisions about their pipeline.
- Track untouched and inactive opportunities
- Understand the depth and breadth of buyer-seller relationships
- Spot real deals sooner with engagement monitoring
- Spot deals with poor momentum stuck in the same stage
- Improve forecast accuracy by identifying opportunities likely to be postponed
- Set benchmarks for optimizing sales cycles
Copper helps businesses manage their sales processes through unlimited drag-and-drop pipelines. They can be customized to match your unique sales workflow. You can see at a glance which deals are moving along smoothly and the ones that need attention. It helps you to stay on top of your sales pipeline and ensures you take advantage of potential opportunities.
You can also keep track of all your team members’ activities and performance, no matter where you are. You can assign tasks, set reminders, and monitor progress in real-time, giving you complete control over your sales process. Copper also provides up-to-date insights into your team’s performance.
- Customizable multiple sales pipelines
- Comprehensive pipeline data
- No administration required
- Identify sales bottlenecks
With HubSpot, you can prioritize your leads and close more deals. You can identify the ones most likely to convert and focus your efforts on them. With just a few clicks, you can see where your leads are in the sales process, which deals are most likely to close, and where your team needs to focus their efforts.
You can also customize your sales pipeline around your buyers’ needs. The software allows you to increase the chances of closing deals and build stronger relationships with your customers by tailoring your sales process to match your buyers’ needs.
- Track and optimize the sales process
- Deals dashboard organized by stage
- Sales pipeline customization
- Deals organized by the stage name
Insightly allows you can manage, view, and customize your sales pipeline from anywhere, making it easy to stay on top of your sales process no matter where you are. It automates the tedious aspects of the sales process, freeing up your team to focus on the things that matter, like building relationships with customers and closing deals.
Insightly is customizable, so you can tailor your sales process to match the unique needs of your business. It helps you create a sales pipeline that works for you and your team and increase your chances of closing more deals.
- Kanban-style sales reports
- Custom pipeline statuses
- Automated pipeline alerts
- Business Intelligence dashboards
Pipedrive is a pipeline tracking software that offers a clear visual interface, which prompts you to take action and stay on top of your sales process. You can remain organized and stay on top of even the most complex sales processes. The software lets you track your leads and customer interactions, identifying which deals will likely close.
With Pipedrive, you can create a sales pipeline that works for your business, with stages that match your unique sales process. It will help you increase the efficiency of your sales process and close more deals over time.
- Fully customizable
- Pipeline visualization
- Activity tracking
- Sales pipeline metrics
- Hundreds of integrations
As a leading pipeline tracking software, Salesmate allows you to create multiple custom sales pipelines, which helps you to manage your sales process more efficiently. You can get a bird’s eye view of your entire sales cycle, making it easy to see where your leads are in the sales process.
Salesmate also makes closing the right deals at the right time easy. It allows you to keep track of your leads and their interactions. You can thus identify which deals are most likely to close and focus your efforts on those.
- Customize Deal Stages
- Deal Management
- Customize Deal Cards
- Auto-profile Enrichment
- Custom Fields
LeadSquared is a standout pipeline tracking software that enables you to visualize your sales funnel, making it easy to see where your leads are in the sales process. You can also access a conversation timeline, which shows all the interactions you’ve had with a particular lead. It helps you to identify which leads are most interested in your product or service and focus your efforts on those.
The software also notifies you when a follow-up needs to be completed. It will allow you to stay on top of your sales process and ensure you’re following up with leads timely. You can also keep track of your team’s performance and identify which team members are closing the most deals. It will allow you to make informed decisions about allocating resources and improving your overall sales process.
- Email metrics
- Calling reports
- Pipeline reports
- Field meetings
- Sales closure reports
- Activities vs. revenue
Tubular automates the capture of leads through your website, making it easy to identify and follow up with potential customers. You can simplify your sales workflow by streamlining your lead capture, nurturing, and conversion processes. The software automates tasks like lead scoring and follow-up reminders to help you focus on the most promising leads.
Another outstanding aspect of Tubular is its ability to save hours creating reports. With Tubular’s intuitive reporting and analytics tools, you can easily track your sales performance, identify areas for improvement, and make data-driven decisions about your sales strategy.
- Lead capture & tracking
- Sales activity and analytics
- Pipeline metrics
- Revenue forecasts
VipeCloud is a popular pipeline tracking software that offers an instant top-down view of your business’ sales opportunities. You can customize your pipeline to access the information that matters most to your sales process. VipeCloud lets you modify card layouts to view your most critical data in the pipeline directly.
It helps you quickly identify and prioritize opportunities and make informed decisions about sales resource allocation. You can also create filter views to sort your opportunities by type. Whether you’re looking to focus on a particular area or identify leads in a specific geographic location, VipeCloud makes it easy to filter your pipeline and get the information you need.
- Customized pipeline stages and names
- View pipeline in card and table views
- A pipeline for each of your sales cycles
10. Zoho CRM
Zoho CRM helps businesses improve their sales process by identifying bottlenecks and building accurate business forecasts. The tool allows you to identify areas where deals are getting stuck or delayed by tracking the progress of each deal in your pipeline. It will help you optimize your sales process and improve your conversion rates.
The software can also predict revenue by analyzing sales data and trends. With Zoho CRM, you can allocate resources to the right deal. By prioritizing your deals based on their potential value, Zoho CRM allows you to focus your sales efforts where they’ll have the greatest impact. This helps you maximize your ROI and grow your business more efficiently.
- Generate, assign, and score leads
- Every contact detail on one page
- Manage customer accounts
- Analytics for end-to-end pipeline tracking
Tracking pipeline progressions is essential for any business that wants to streamline its sales process, optimize its performance, and grow more efficiently. The 10 pipeline tracking tools we’ve discussed offer unique features and capabilities to help you manage your sales pipelines more effectively.
Choosing the right pipeline tracking tool for your business will improve your conversion rates, increase your revenue, and build stronger relationships with your prospects and customers. So, take some time to explore these 10 tools and find the one that best suits your needs.
- What does sales pipeline tracking software do?
Sales pipeline tracking software helps businesses manage and track their sales process from lead generation to closing deals. It includes lead tracking, deal tracking, forecasting, and reporting.
- What is the best sales pipeline tracking software?
The best sales pipeline tracking software depends on your business needs and budget. Some popular options include Nektar, HubSpot, Pipedrive, Zoho CRM, and Salesforce.
- Is sales pipeline tracking software a CRM system?
Sales tracking pipeline software is often a part of CRM systems. However, not all systems have sales pipeline management features. Some sales pipeline software can be standalone or integrated with other business software.