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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:
- 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.
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:
- From the Explorer, navigate to Sales Forecasting -> Sales Opportunities.
- 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.
- Search for the customer name in the search block.
- You will see a list of customers appear below the search block, and the name of your customer.
- Click on the green ‘Create New’ on that line next to the customer name.
- A New Sale Opportunity window will open.
- Complete the fields according to Sales Opportunity Fields.