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Sales ​

Lead ​

A Lead represents a potential customer who has shown interest in the products or services but has not yet become a paying customer. Leads are typically individuals or organizations that you are actively pursuing as potential clients.

Key Components:

  • Lead Information: Basic details about the potential customer, including name, contact information, and any initial interactions.
  • Lead Source: The channel or method through which the lead was generated (e.g., website inquiry, referral, marketing campaign).
  • Lead Status: Indicates the stage of the lead in the conversion process (e.g., New, Contacted, Qualified).

Process:

  • Lead Capture: Collect information about potential customers through various channels.
  • Lead Qualification: Evaluate and qualify leads based on criteria such as interest level and potential for conversion.
  • Lead Nurturing: Engage with leads through targeted communication to move them through the sales funnel.

Opportunity ​

An Opportunity represents a potential sale or deal with a qualified lead. It is a record of a potential revenue-generating transaction with a customer that is being actively pursued.

Key Components:

  • Opportunity Details: Information about the potential sale, including the product or service, expected revenue, and proposed timeline.
  • Probability: The likelihood of closing the deal, often expressed as a percentage.
  • Sales Stage: Indicates the current stage in the sales process (e.g., Discovery, Proposal, Negotiation).

Process:

  • Opportunity Creation: Convert a qualified lead into an opportunity when there's a potential for a sale.
  • Sales Process: Progress through various sales stages, updating the opportunity details and probability as needed.
  • Deal Closure: Mark the opportunity as won or lost based on the outcome of negotiations.

Quotation ​

Quotations, or quotes, are documents that provide detailed pricing information for products or services offered to a potential customer. They serve as formal proposals and can be generated from opportunities or directly for specific customer requests.

Key Components:

  • Product/Service Details: A list of products or services being offered, along with quantities and prices.
  • Total Cost: The overall cost of the proposed deal, including any applicable taxes or discounts.
  • Validity Period: The timeframe within which the customer can accept the quotation.

Process:

  • Quotation Generation: Create a detailed quote based on the products or services associated with an opportunity or a customer request.
  • Review and Approval: Internal review of the quotation, ensuring accuracy and alignment with pricing strategies.
  • Customer Presentation: Share the quotation with the customer for consideration and negotiation.

Sales Order ​

A Sales Order is a document that confirms a customer's acceptance of a quotation. It serves as a formal request from the customer to purchase the specified products or services at the agreed-upon terms.

Key Components:

  • Customer Information: Details about the customer placing the order, including billing and shipping information.
  • Product/Service Details: A comprehensive list of items included in the order, along with quantities and prices.
  • Order Total: The total amount payable by the customer, inclusive of any taxes or discounts.

Process:

  • Customer Acceptance: Once the customer agrees to the terms outlined in the quotation, a sales order is created.
  • Order Fulfillment: The sales order serves as a reference for the fulfillment team to pick, pack, and ship the products or deliver the services.
  • Order Confirmation: Confirm the completion of the order, update the inventory, and generate relevant invoices.

These components collectively form a structured sales process, allowing businesses to effectively manage leads, convert opportunities into deals, and streamline the quotation and sales order processes.