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How can technology help you manage deadlines in a negotiation?

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Negotiating is a complex and dynamic process that involves multiple parties, interests, issues, and deadlines. Deadlines are especially important because they can affect the pace, pressure, and outcome of a negotiation. However, managing deadlines can be challenging, especially when you have to coordinate with different stakeholders, track progress, and adjust to changing circumstances. Fortunately, technology can help you manage deadlines in a negotiation more effectively and efficiently. Here are some ways how.

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Michal Feigler

M&A ? PE / VC ? Advisory

1 Use online calendars and reminders

One of the simplest and most useful tools for managing deadlines in a negotiation is an online calendar. You can use it to schedule meetings, set milestones, and send reminders to yourself and others. Online calendars can also sync with your email, phone, and other devices, so you can access them anytime and anywhere. Additionally, you can use online calendars to share your availability and preferences with other parties, and to request or confirm appointments. Online calendars can help you avoid conflicts, delays, and misunderstandings, and keep everyone on the same page.

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Poullete Kimani,

Strategy| Business Growth | Client Experience | Operations
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In my experience, technology is crucial for deadline management in negotiations. Collaborative platforms, such as project management tools, enhance real-time coordination. They facilitate seamless information exchange for quick updates on progress. Scheduling apps set clear timelines and send reminders, ensuring crucial milestones are met. Virtual meeting platforms eliminate geographical constraints for efficient communication. Additionally, technologies like artificial intelligence swiftly analyze data, aiding in informed decision-making. Embracing these solutions streamlines communication, maintains organization, and boosts overall efficiency in navigating negotiation deadlines.

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2 Use project management software

Another helpful tool for managing deadlines in a negotiation is a project management software. This is a platform that allows you to plan, organize, monitor, and report on your negotiation activities. You can use it to create tasks, assign roles, set deadlines, track progress, and communicate with your team and other parties. Project management software can also help you visualize your negotiation process, identify risks and opportunities, and evaluate your performance. Project management software can help you manage your time, resources, and expectations, and achieve your negotiation goals.

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Michal Feigler

M&A ? PE / VC ? Advisory
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A proper CRM gives you an inmense leg up when it comes to any negotiation; it. How? Well, negotiation is about information - the more you have, the better deal you can make. Now, this is a long-term game, don’t get me wrong, but if you can review all the previous e-mails, offers, reactions, timelines etc. in one place, it literally gives you the frame of reference for any subsequent communication. Want to take it step farther? Make notes! Is your prospect an Arsenal fan? Start your next call with a chat about last night’s game. His son swims competitively? You get the point… The best negotiators build bridges and relationships that stand the test of time. Digitalize your memory, use a CRM and continue where you left off the last time.

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3 Use online collaboration tools

A third useful tool for managing deadlines in a negotiation is an online collaboration tool. This is a tool that enables you to work with others remotely and in real time. You can use it to share documents, data, and feedback, and to co-create solutions and agreements. Online collaboration tools can also help you facilitate dialogue, build rapport, and resolve conflicts. Online collaboration tools can help you overcome distance, time zones, and cultural barriers, and foster trust and cooperation.

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4 Use artificial intelligence and analytics

A fourth powerful tool for managing deadlines in a negotiation is artificial intelligence and analytics. This is a tool that uses data and algorithms to provide you with insights, suggestions, and predictions. You can use it to analyze the behavior, preferences, and interests of other parties, and to tailor your strategies and offers accordingly. You can also use it to monitor the market, the environment, and the trends, and to anticipate changes and challenges. Artificial intelligence and analytics can help you optimize your decisions, outcomes, and value, and adapt to dynamic situations.

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Michal Feigler

M&A ? PE / VC ? Advisory
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ChatGPT literally changed the game when it comes to the pre-negotiation phase. Don’t have time to prepare for an impromptu call? Ask ChatGPT to give you a few talking points taken from your counter-party’s LinkedIn profile or make it summarize the company’s last annual report into a short paragraph. Want to know the average margin’s in the industry? Make AI crunch the numbers for you. Want to research alternative suppliers to put a bit of pressure on your current one? Well, you know what to do!

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5 Use digital contracts and signatures

A fifth practical tool for managing deadlines in a negotiation is a digital contract and signature. This is a tool that allows you to create, review, edit, and sign contracts online. You can use it to streamline your negotiation process, reduce paperwork, and avoid errors and disputes. Digital contracts and signatures can also help you secure your data, protect your rights, and comply with legal requirements. Digital contracts and signatures can help you finalize your agreements faster, easier, and safer.

Technology can help you manage deadlines in a negotiation in many ways. By using online calendars, project management software, online collaboration tools, artificial intelligence and analytics, and digital contracts and signatures, you can improve your efficiency, effectiveness, and satisfaction in your negotiation process. However, technology is not a substitute for human skills and judgment. You still need to use your communication, creativity, and critical thinking skills to negotiate successfully.

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6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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How can technology help you manage deadlines in a negotiation?

1

2

3

4

5

6

1 Use online calendars and reminders

2 Use project management software

3 Use online collaboration tools

4 Use artificial intelligence and analytics

5 Use digital contracts and signatures

6 Here’s what else to consider

Negotiation

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How can technology help you manage deadlines in a negotiation?

1

2

3

4

5

6

1 Use online calendars and reminders

2 Use project management software

3 Use online collaboration tools

4 Use artificial intelligence and analytics

5 Use digital contracts and signatures

6 Here’s what else to consider

Negotiation

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