Opportunity is a qualified lead.

When you discern that a lead is seeking a product or service that aligns with what you offer, you have the option to convert that lead into an opportunity. Additionally, you can generate an opportunity associated with an existing customer. It’s possible to accumulate multiple opportunities linked to a lead or a customer.

To access the Opportunity list, go to:

Home > CRM > Sales Pipeline > Opportunity

1. How to Create an Opportunity

1. Navigate to the Opportunity list and click on ‘Add Opportunity’.
2. Under ‘Opportunity From’, choose ‘Lead’ if the opportunity originates from a lead. Alternatively, you can access a lead with an ‘Open’ status and select “Opportunity” from the ‘Create’ dropdown menu.
3. If the opportunity stems from a customer, select ‘Customer’ in the ‘Opportunity From’ field.
4. Choose the Opportunity Type, indicating the general category of the opportunity such as Sales, Support, Maintenance, etc.
5. Provide additional details in the ‘SALES’ section, such as Opportunity Amount, Probability (of conversion), and Currency.
6. To specify the products/services required, toggle the ‘With Items’ checkbox and input the item and quantity details in the ‘Items’ section.
7. Enter the source of the opportunity in the SOURCE section.

2. Features

2.1 Reminders to Follow Up on Opportunities

Building relationships with opportunities is crucial. You can establish this by setting dates for future contacts in the ‘Next Contact Date’ and ‘Next Contact By’ fields. A calendar event will then be generated for the designated user in the ‘Next Contact By’ field, ensuring timely follow-ups with notifications on the scheduled date.

2.2 Auto-assign Opportunities to Sales Executives

You can define Assignment Rules to automatically assign the opportunities to sales executives.

 

2.3 Auto-close Opportunities

If there is no response from an opportunity within a specified timeframe, you may consider automatically closing that opportunity.

You can set the number of days in Selling Settings.

 

2.4 Create a Quotation

You can create a Quotation from the Make dropdown. Relevant field values will be copied over.

 

2.5 Create a Supplier Quotation

You might require a quotation from your supplier based on the customer’s needs, and subsequently prepare a quotation for your customer accordingly. With BizCentric, you can generate a Supplier Quotation directly from the opportunity.

Best Practice: Leads and Opportunities are commonly known as your “Sales Pipeline,” which is essential to monitor if you want to forecast your future business accurately. It’s wise to keep track of incoming prospects to adjust your resources accordingly.

2.6 Capture the Reasons and Competitors for Lost Opportunities

When an opportunity is lost, you can document the reasons, competitors involved, and provide detailed explanations for the loss. This enables you to analyze long-term trends and identify insights necessary for organizational improvements across various areas.

 

2.7 Minutes to First Response

Upon sending the initial email response to an Opportunity, the system calculates the time taken until the first response, which is then displayed in a designated field.

Additionally, a report titled ‘Minutes to First Response for Opportunity‘ is generated.

3. Related Topics

1. Quotation
2. Customer
3. Lead
4. Supplier Quotation