CRM-service provides tools to manage Potentials – also known as Opportunities – with the Potentials module. This module can be used to handle all sales phases in the sales pipeline. The sales pipeline phases can be also be processed so that e.g. the Leads module contains marketing phases and the Potentials module sales phases. Therefore there are two options for handling the sales process: you can either drive the whole sales pipe (Lead Generation) process inside the Potentials module or split it into two separate phases (Leads module and Potentials module).
The advantage of using two modules (Leads, Potentials) to drive the sales pipeline is that you don’t have to create companies to the Accounts module for sales cases that are not yet validated to be real sales opportunities. This way you can keep your Accounts and Contacts modules clear from invalid company and person information. You can for instance collect leads with a web form to the Leads module without disturbing Accounts and Contacts modules’ contents.
With module tools, you can make converting leads into potentials happen easily with just a click of a button – or completely automatically by pairing the module tool with a workflow. It is possible to determine, if all the information about the lead is automatically converted, or if some fields can be edited for the new potential. Ask an admin user for more information.
Differences between Leads and Potentials(/Opportunities)
The main differences between a Lead and a Potential (Lead module and Potential module) are e.g. the following:
- Lead contains information independently without any relations to other modules (e.g. Accounts or Contacts).
- Lead is a “dummy” register for wanted information.
- Potentials can be created from Leads automatically by using module tools (and workflows).
- Potential can have links to one account and contact. Depending on the system and its settings, this might not be compulsory.
- Potentials can have invoicing forecasts.
- Potentials can contain business area information.
- The potential history is saved every month so you can report open sales pipe correctly in history.
- The potential history is saved every time the sales stage changes.
New potentials can be created the following ways:
- In the Potentials module by clicking the Create Potential button
- In the lead conversion process (e.g. a lead is converted to potential with a module tool)
- By module tools in other CRM modules
- Through Web Service APIs.
When you are creating a potential with the first option, you will face a view similar to the one in the picture below.
The only field that is always mandatory for a potential is Potential Name, but it is probably necessary to provide other information as well, concerning e.g. potential’s amount, probability, business area, etc. You can also link an account and contact to the potential, if they already exist in the system.
Potentials can be reported in CRM-service using
- User-specific front page views
- The Report Generator
- Sales Dashboard reports
- Account card graphical views (for more information, see Account-Specific Budgets and Forecasts)
- The Business Intelligence module, if it is activated for your system (for more information, see Potential (BI)). If the BI module has been activated, the state of the potentials are saved daily and you can therefore track and report the changes by day.
Converting Leads to Potentials
The picture below shows a popup, which is presented when using the Convert Lead module tool. In this example, the tool not only converts the lead into potential, but also creates an account and a contact which are automatically linked to the potential.
Ask your admin user for further information.