Using Prospects

Web page-Sales -Prospects Sales Master table snapshotConfigure Sales-Prospects Leads Customers

About Prospects

Prospects travel through the Sales Funnel. Sales funnels typically have four stages:

For simplicity, our definition of a Prospect is a contact who is investing time interacting with you and educating themselves about your offer or proposition.

Our definition of qualification is:

  • the Lead or Prospect confirms you have the product or solution to move them to where they want to be,
  • they recognize the value and can find or have the budget to afford your offer. 

The only transactional Document you can create from a Prospect is a Sales Quote.

It’s logical that until the Prospect sends a Purchase Order or places an Order with you, they are not a Customer. If preparing Sales Quotes is part of your sales process, then use Prospects.

In addition to Sales Quotes, you can also create associated Sales Opportunities which will allow Prospects to be included in both Sales Forecasts and Cash Flow Forecasts.

New Prospect

In Salesorder, a Prospect can be defined in the following ways:

Prospect Master

To create a new Prospect, go to:

SALES > Prospects > +

Convert existing
Lead to Prospect

To convert a Lead to Prospect, go to:

SALES > Leads > Select Lead > Actions > Create Prospect

Capture Prospects
from your Website

You can connect external web pages to capture and create new Prospects.

Refer Setup Web to Lead for more details.

Import Prospects into Salesorder

You can import Prospects into the Prospect Master. To import prospects, go to:

SETUP > Import Data > Prospects > Select Download Template.

Enter the lead information in the downloaded template. Ensure that there are no duplicates. Save the template.

Using the Upload Data option on the same screen, import the leads in Prospect Master.

For more details on importing data, check Using Import Data

After running import, to verify all imported Prospects, go to:

SALES > Prospects > List All Prospects

Transactions on Prospect

Once a new Prospect is defined in the system, Salesorder allows you to perform following transactions on a Prospect through the Prospect Document:

Transaction More information
Convert to Customer Refer Using Customers
Sales Quotes Refer Using Sales Quotes
Sales Opportunities Refer Using Sales Forecasting
For more information how to create and view above transactions, refer Prospect Document: Settings (Actions section).

Sales Funnel Management

Lead tracking

You can import or manually create Leads. Refer Using Leads

Opportunity tracking

You can enter and forecast Sales Opportunities.

Refer Using Sales Forecasting

Sales forecasting

Refer Using Sales Forecasting

Prospect tracking

You can convert Prospects to Customers. Refer Using Prospects and Using Customers

Quotes

It’s logical that until the Prospect sends a Purchase Order or places an Order with you they are not a Customer.

If preparing Sales Quotes is part of your sales process, then use Prospects.

Refer Using Sales Quotes

Prospect and Sales Accounting

Documents such as Sales Invoices, Bills, Credit Notes, Bank Transfers etc. affect the underlying Accounts when they are saved or edited.

These Documents are referred to as Posting Documents since they post their values to the relevant Accounts.

Some Documents such as Sales Quotes do not affect the Accounts, and these are referred to as Non-Posting Documents.

Because a Prospect is not a Customer, you cannot issue Documents to the Prospect that would post to the Accounts, such as Sales Invoices etc.

To do this the Prospect needs to be converted to a Customer, after which the usual sales transactions can be performed.

Prospect Document: Configuration

To configure Prospect document, go to:

SETUP > Configuration > Prospect

Or

SALES > Prospects > Select Prospect > Configure

The following configuration options are available:

Customize Fields

A Prospect document consists of fields, sections and tabs. The Salesorder app allows you to customize all the parts of the document.

You most probably have a policy or process for opening accounts for new Prospects. Your process will determine what data you need to capture when you add the Prospect record to the system.

If you don’t have all of the fields (or the functionality) you need, you can add custom fields to store and use additional data.

To customize fields, sections and tabs in the document, refer to Using Customization
Reference # Generation tab

Use Auto-generated Ref #

Reference numbers can be set to auto-generate by checking this option.

Ref # Prefix

You can prefix reference numbers for meaningful distinction and recognition. For example:

  • Sales Quotes can be prefixed as SQ201
  • Prospects can be prefixed as PRO98

Current Sequence Number

Reference numbers can be set to increment from a fixed starting point.

For more details on customizing Ref #s refer Using Ref #s (Reference numbers)

Prospect Document: Reference

Fields

Prospect Name Prospect Company Name.
Ref # A unique identifier for the document.
Owner The user creating or owning this document.

To learn more, refer Using Owners
Balance Not used.
Currency Currency in which your Prospect transacts. This is a very important step.

When you create a Prospect make sure you define the right currency. The default will be the base currency of your General Ledger.

Once this currency value is set, you will not be able to edit or modify it.

For more details on currencies, refer to Using Currencies
Credit Limit This field defines the credit limit assigned to the Prospect.
Status Displays list of all the Lead Statuses defined in the system.
Rating Displays list of the Lead Ratings defined in the system.
Rating score Assign a Rating Score to the Lead.
Date received Date the prospect was recorded in the system.
Source Source where the Prospect came from i.e. email, google, etc.
Campaign i.e. Black Friday deals, etc.
Tabs

Main Contact

This tab is used to store the default contact details of the Prospect.

Profile

This tab stores the following details:

  • General information: Details related to the Prospect account.
  • Trading Information:

    Tax Code|Group , Prospect is VAT Registered: Using these fields to define the tax details of a Prospect.

    Default Site: Set the Site (i.e. Warehouse) from which order will be shipped.

    This will set the default Ship to Address to the address set in the respective Site.

    Terms: Define the Payment Terms with prospect here .

    Create and preset Payment Terms including automation of Early Payment Discounts.

    Refer Using Payment Terms

    Price Level and Price List: Create and preset Price Lists and Price Levels on Prospect Master.

    Refer Using Price Management

    Ship via, Shippping method, Shipping terms - Set the Shipping details using these fields.

  • Bank details: Bank account details and payment preference of the Supplier.

Notes

You can add notes to the document. To learn more, refer Using Notes

Transactions

This tab provides a granular view of all the transactions for a Prospect under one dashboard. For example: Sales Quotes.

Memos

You may track or schedule events or assign tasks using memos.

For example- You can schedule a meeting or assign a task to a team member using memos.

For more details, refer Using Memos.

Contacts

You can add additional contacts, shipping and payment addresses to a Supplier account.

Using this tab, you can view all the contacts and addresses assigned to the Supplier account.

To learn more, refer Using Contacts and Using Addresses.

Email

You can send and receive emails from Outlook, Google and other mail systems.

Email is automatically filtered at the Supplier contact level, so you only see and can send emails related to the Supplier and its contacts.

For more details, refer Using Email.

Classification

Refer Using Classifications

Prospect Document: Settings 

The following settings are available on the Prospect Document:

Save

(available in Create | Edit mode)
Saves the Document.

Save and New

(available in Create mode)
Saves the new Prospect details and refreshes the screen for creating the next Prospect.

Edit

(available in View mode)
Switch the Document to edit mode.

Configure

(available in
Create | Edit | View mode)
Takes you to the Prospect Document configuration screen. Discussed in the Configuration section in this article.

Find

(available in
Edit | View mode)
You can use this option to view all the transactions on Prospect account:

  • Sales Quotes
  • Contacts
  • Leads
  • Sales Opportunities
  • Billing Addresses
  • Shipping Addresses

Actions

(available in
View mode)
Actions can be used to perform various tasks on a Lead Document:

Convert to Customer

Convert a Prospect to Customer. Refer Using Customers

New Sales Quote

Create a Sales Quote for the Prospect. Refer Using Sales Quotes

New Contact

Create new contact for Prospect account. You can define multiple contacts for a Prospect account. Refer, Using Contacts

New Lead

Create new Leads. Refer, Using Leads

New Sales Opportunity

Capture a new sales opportunity. Refer, Using Sales Forecasting

New Billing Address

Define a new billing address for the Prospect account. Refer Using Addresses

New Shipping Address

Define a new shipping address for the Prospect account. Refer Using Addresses

Take Ownership

You can transfer Prospect account ownership using this option.

Delete

This option permanently deletes the Prospect Document from the Salesorder app.

However, if the document has associated transactions then you will not be able to delete the document.

You cannot recover the document once it is deleted. Also, you will not be able to search for the document in the Salesorder app.

However, you do have an option to view the history of the deleted Document.

Go to, ACCOUNTING > Find Transactions > Search Document History

Hence, caution is advised in using the Delete option.

Email

(available in
View mode)
You can send emails directly from the Prospect Document.

To learn more , refer Using Email

Help

(available in
Create | Edit |
View mode)
Takes you to the Salesorder help documentation.

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