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Working with Sales Opportunities

Sales Opportunities are potential business deals.

These opportunities are recorded in Transactional Documents, summarised in the Sales Forecast Document and gives a view of the current Sales Pipeline.

Each Sales Opportunity has various stages:

  • Qualified
  • Negotiating
  • Definite, etc.

Each stage has a Percentage Probability, which is the probability that the opportunity becomes a closed deal (i.e. won) by the Close date.

These variables add up to a weighted sales pipeline figure on the Sales Forecast Document.

The Forecast Status field further indicates whether a deal is closed, lost, probable or ongoing. See Sales Opportunity Fields.

While the sales people update their Sales Opportunities, the Sales Manager can run a Sales Forecast at any time to review the sales pipeline – open sales opportunities, forecasted sales revenue and cashflows.

Prerequisites


Entering Line Items
Working with Transactional Documents
Working with Items
Creating new Transactions

How to Create a New Sales Opportunity

  • A new Sales Opportunity does not affect the customer balance.
  • A Sales Opportunity is similar to a Sales Quote.
  • The Ref # is a unique identifier/number associated with the Document. See Working with Reference numbers (Ref #).
  • The Sales Opportunity has a mandatory Name field, to keep track of different opportunities.
  • The close date field is to indicate when the Sales Person predicts the deal will be closed.
  • The Opportunity Stage indicates the progress of a potential deal.
  • Opportunity stages can be customised. See Configuring Sales Opportunities.
  • The Forecast Status field indicates whether the opportunity can be closed in this period or should be omitted from this period.

See a Sales Opportunity captured below:

new-sales-opportunity

The Sales Opportunity Document

    1. From the Explorer, navigate to Sales Forecasting -> Sales Opportunities.
    2. If it is a new customer, do this first:
      • Click on the green plus in the menu
      • A link at the top will show with an N – New Customer.
      • Click that and follow the instructions for adding a New Customer.
      • When done, return to Sales Opportunity.
    3. Search for the customer name in the search block.
    4. You will see a list of customers appear below the search block, and the name of your customer.
    5. Click on the green ‘Create New’ on that line next to the customer name.
    6. A New Sale Opportunity window will open.
    7. Complete the fields according to Sales Opportunity Fields.

Also Read About


Configuring Sales Opportunities
Working with Sales Forecasting
Working with Prospects
Transaction Audit Trail
Working with Memos
Leads, Prospects and Customers