Technology Is Changing the Way People Negotiate

October 20, 2016

9:00 pm

Negotiation is an age-old art that has formed the business world since its inception. One of the biggest issues you’ll discover is that 67% of negotiated decisions has already been made before a customer ever makes contact with you. That’s where negotiation starts.

In recent years, the way people negotiate has evolved because of technology. Parley Pro is one such platform that is changing the way negotiations happen by providing an all-in-one software that can manage from pitch to agreement. Businesses are looking at the future of negotiation, and it’s all happening thanks to technology.

Overcoming the Complexities of Negotiation

Let’s be honest, the internet has taken over the world and it has fundamentally altered the way negotiation happens. The popularity of the internet meant that negotiations happened through word documents, sending revised versions back and forth until you reach an agreement. It was inconvenient, slow, and borderline regressive.

The whole point of newer platforms is to create a type of structured workflow. The key issues can be mapped out and both parties can address each issue in the right order. The contract is automatically updated on these platforms, based on the decisions each party comes to, so everyone has the right version of the contract.

Who’s Talking?

The main issue with negotiating outside of the board room is that everyone is fighting to be heard. Everyone is attempting to get their point across. A comprehensive platform can offer a way to conduct internal reviews online in real-time. Everyone can make their points and all these points are recorded, so it’s easy to refer back to them later.

Technology has made it so you can assign each team member to the relevant part of the negotiation. You can make sure that everything is in order and that everyone has had the chance to make a statement. This information is aggregated into a centralized dashboard. All the facts can be checked in one place.

Now, your entire team can negotiate without getting in the way of your goal.

The Final Signing

Signing a contract can be difficult because you need to make sure the person signing has all the relevant approvals. It can take days, even weeks to finally sign the contract. But technology changed all that with the invention of the eSignature. This allows people to sign online.

These new platforms comes with an approval acquisition process that’s fully automated. That way both parties can get the right approvals without wasting weeks at a time.

 

 

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AJ Agrawal is an entrepreneur, speaker, and writer. He is the CEO and Co-Founder at Alumnify Inc.

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