Last Revised: 07 Jul 2020 Written by Veloxity CRM Time Estimate: About 5 minutes to read. Version 2.0
Jump to the following sections to learn more about Opportunities:
- What are Opportunities?
- Where can I find Opportunities?
How can I use Opportunities?
- How can I Add Opportunities?
- How can I Edit Opportunities?
- How can I Delete Opportunities?
- How can I Search Opportunities?
- How can I use Opportunity Records?
- How can I use Details / Quote Maker / Files Tab?
- How can I use Exclude from Forecast?
- How can I use Linked Records?
- How can I use User Roles (Show/Update Roles)?
- How can I use Activities?
- How can I use Timeline?
- How can I use Charts?
- How can I use Opportunity Contacts?
- How can I use Merge with Other Opportunity?
- How can I use Opportunity Tables?
- Related articles
What are Opportunities?
An Opportunity represents a potential sale to a qualified prospect that you are working to close.
How can I use Opportunities?
Opportunities track and manage the data related to individual Opportunities.
Where can I find Opportunities?
Opportunities are found on the Main Menu. Click Opportunities to access Opportunity features.
You are looking at a screenshot of an Opportunity Record:
Figure 1. Opportunity Record.
How can I use Opportunities?
How can I Add Opportunities?
Add Opportunities from the Main Menu
You are looking at a screenshot demonstrating how to add an Account from the Main Menu:
Figure 2. Adding an Opportunity from the Main Menu.
Add Opportunities from the Hub
You are looking at a screenshot demonstrating how to add an Opportunity from the Hub:
Figure 3. Adding an Opportunity from the Hub.
Add Opportunities from the Opportunity Kanban
You are looking at a screenshot demonstrating how to add an Opportunity from the Opportunity Kanban:
Figure 4. Adding an Opportunity from the Opportunity Kanban.
If your company uses Lead Records, Opportunities are automatically added to Veloxity CRM when you click Create Opportunity:
Create Opportunity is used to convert a Lead into an Opportunity. Create Opportunity automatically creates and links an Opportunity Record, Contact Record, and Account Record (depending on your business transaction type).
You are looking at a screenshot demonstrating Create Opportunity on a Lead Record:
Figure 5. Create Opportunity on a Lead Record.
How can I Edit Opportunities?
On the Main Menu, select Accounts > List All Opportunities> directly edit Opportunity data in the table format > Save
Figure 6. Edit Opportunities.
How can I Delete Opportunities?
On the Main Menu, select Opportunities > List All Opportunities > click the row number of the Opportunities to be deleted > Delete
Figure 7. Delete Opportunities.
How can I Search Opportunities?
See Search for more information.
How can I use Opportunity Records?
What is an Opportunity Record?
Opportunity Records allow you to quickly access detailed information about your Opportunities in a simple visual format:
- Details / Quote Maker / Files
- Opportunity Size
- Opportunity Stage
- User / Group Roles
- Linked Records Panel
- Contact Roles
How can I use Details / Quote Maker / Files Tab?
How can I use the Details Tab?
Click the Details Tab to access Account Details such as billing address, shipping address, and forecasted revenue.
Understanding Standard Fields on Opportunity Details
|Opportunity Name||Name of the Opportunity in this record.|
|Opportunity Type||Designates whether this is a new customer, or an existing customer with a new sale or upgrade.|
|Probability||Likelihood of winning this Opportunity (expressed as a percentage).|
|Forecast Amount||Amount of sale forecasted.|
|Actual Amount||The actual amount of revenue won or lost.|
Date the Opportunity closed.
|Won or Lost||The Opportunity resulted in a sale (Won) or did not result in a sale (Lost).|
|Next Step||The next activity to be completed in the sales process.|
|Exclude from Forecast||Exclude this Opportunity from the sales forecast.|
|Stage||The Opportunity's current stage in the sales pipeline.|
How can I use Quote Maker?
Quote Maker is a robust Quote management tool enabling you to create and send quotes directly from Veloxity CRM.
See Quote Maker for more information.
How can I use the Files Tab?
Click the Files Tab to link related files to this data record. Visit Working with Files for more information.
How does the coin symbol visualize Opportunity Size?
Figure 8. Coin Icons Visualizing Opportunity Size on an Opportunity Record.
The coin icons quickly visualize Opportunity Size and Opportunity Status:
- Opportunity Size. The number of filled coin icons offer an at-a-glance visualization of the relative size of the Opportunity measured against all of the Opportunities for which you are an owner in the Veloxity system.
Opportunity Status. The color of the coin icons reflect the Opportunity status.
- Gold Coin: Open Opportunity
- Green Coin: Opportunity Won
- Red Coin: Opportunity Lost
Notice how the three colored coins allow you to quickly visualize that this is a larger Opportunity.
Mathematically, this particular Opportunity is greater than 50-75% of all of your Opportunities based on potential revenue at close.
In addition to size, the coins also visualize opportunity status:
Figure 9. Coin Icons Visualizing Opportunity Status on an Opportunity Table.
Green Coins = Opportunity Won (closed)
Red Coins = Opportunity Lost (closed)
Gold Coins = Active Opportunity (open)
How can I use Sales Stages?
Sales Stages represent the steps your organization takes to move an opportunity through your sales pipeline to closing the sale.
Use Sales Stages to track your Opportunities' progress through the sales pipeline.
The following are the default Sales Stages. Your system may show different stages depending on your sales process.
(Veloxity CRM default settings)
Description of activities to be completed at each stage.
|(a) Stage One: Requirements Discovery||The lead has been generated. During this stage, the sales rep researches the lead to discover whether or not they are qualified to proceed to the next stage in the sales process. Notice AC Sales Tracking opportunity in this stage of the pipeline.|
|(b) Stage Two: Schedule / Prepare / Perform Demonstration||The lead has been qualified and has been converted into an opportunity. An opportunity record, contact record, and opportunity record have been generated. The sales rep understands the prospect's needs and works to schedule, prepare and perform a demonstration of the product/service. Notice Payroll Processing opportunity in this stage of the pipeline.|
|(c) Stage Three: Quote: Pricing Negotiation||The prospect has experienced the product/service. The sales rep sends a quote to the prospect. The prospect and sales rep negotiate the price. Notice the System Upgrade opportunity in this stage of the pipeline.|
|(d) Stage Four: Legal Agreement Negotiation||The price has been negotiated. The sales rep and the prospect work through the legal agreements of the sale. Notice the Sales Division System opportunity in this stage of the pipeline.|
|(e) Stage Five: Closed||
The sales process ends. The opportunity has either been won or lost.
How can I use Probability?
Sales Stage Probability is the probability an Opportunity will close, bringing in the Forecasted Amount, at each Sales Stage.
Setting accurate Sales Stage Probabilities is important. The accuracy of the Forecast depends on how closely the numbers used in the Forecast align with the numbers in the actual closing data.
When enabled by your Veloxity CRM administrator, you can edit the Sales Stage Probabilities on your individual Opportunities.
Enter the Probability that your Opportunity will close at the Forecasted Amount.
Figure 10. Sales Stage Probability on an Opportunity Record.
How can I use Exclude from Forecast?
Click the box Exclude from Forecast if you do not want to include this Opportunity in the Sales Forecast.
For example, you may need to exclude all renewal opportunities from your sales forecast.
Or, perhaps, an Opportunity is stuck in a sales stage for too long. You may need to exclude this Opportunity from your sales forecast to prevent bloating.
How can I use Linked Records?
Linked Records are individual data records that show up as a link in the Linked Records Panel. Linked Records visually connect related data to a single record view without duplicating information.
Visit Linked Records for more information.
How can I use User Roles (Show/Update Roles)?
User / Group Roles grant record-level privileges to users in Veloxity CRM. These roles determine what information a user can view, and what actions the user can perform, with the data.
Record-level privileges include actions such as viewing, editing, and deleting data records.
Visit User Roles for more information
How can I use Activities?
Activities enable you to plan, document, and record your sales related communications and actions.
Visit Activities for more information.
How can I use Timeline?
Timeline collects and displays information about recent activities and field changes related to your data records.
Visit Timeline for more information.
How can I use Charts?
Charts can help you optimize your sales process. Charts are powerful tools to analyze your data, find patterns, track goals, and gain insights into your sales process. Charts are quickly customized to visually answer complex questions, at any time, in real-time detail.
Visit Charts for more information.
How can I use Opportunity Contacts?
Contact Roles are located in the Opportunity Record, not the Contact Record. This allows you to create the Contact Role that best aligns with each particular Opportunity.
See Opportunity Contacts for more information.
How can I use Merge with Other Opportunity?
Merge Records is located in the upper right hand corner of an Opportunity Record:
Figure 11. Merge with Other Opportunity.
You may find that you have duplicate records in your Veloxity CRM system. Perhaps two or more of the same Opportunities have been entered into your system. Quickly merge these duplicate records using Merge Records.
Merge Records will guide you through a process of selecting which information you wish to keep and which information you wish to remove.
Visit Merging Data Records for more information.
How can I use Opportunity Tables?
An Opportunity Table displays all of your Opportunity Records in a table format.
Opportunity Tables are found on the Main Menu under List All Opportunities.
Visit Using Data Tables for more information.