1. Functional Process
Process Overview
The Opportunity management is a process that allows us to follow revenue forecasts and revenue recognition.
Why do we need to track forecasts?
- Visibility as to where we are in our Sales Process and how long we have been there.
- Documented insight as to what we can expect to close in the next five years and what are the chances of getting that business.
How do you track revenue recognition?
• Scorecards and reports that give you insights on the performance of your pipeline.
Finally, opportunity Management is a common and simple Sales Process, allowing salesreps & managers:
- To understand what’s in their pipeline
- To understand where are the sales reps getting stuck in their opportunities and identify improvement areas in your sales process or business context.
Definition & use cases
Definition
An Opportunity is any potential business able to generate sales revenues with existing customers or prospects.
There are two types of Opportunities:
- Growth - Product Qualified – to be used whenever the product is known to, approved by and possibly being used by the customer. Typically used for market penetration.
Use cases
• Recording all business related information and make it visible (if it’s not in SFDC it doesn’t exist).
• Involving people from your GBU and get collaboration (opportunity team) by leveraging expertise, and identifying a lead for others colleagues from other GBUs (cross-collaboration).
• Getting recognized for your achievements, for the closed deals and the steps you went through, the difficulties, the success factors, the reasons for lost deals, etc.
• Logging or discovering information on competitors.
• Enhancing your team’s opportunities insights – focus on the opportunities that matter the most.
• Optimizing opportunities pipeline workflow – standardize your sales process and keep your opportunities moving forward and see how time is spent throughout the process.
• Supporting pipeline management: giving visibility to all opportunities opened in SFDC and how can we move them efficiently to close the deals and how to use these cases to put in place for a similar customer.
Flow
2. Data Model & security
Main objects
- Opportunity object is centralizing the information on the opportunity.
- Opportunity product object is composed of:
- Opportunity Product Information: this section contains the general information like the product name, the opportunity link, the targeted first delivery date, etc.
- Product Information: this section includes the financial information, like the target unit price, the expected yearly volume, the contribution margin, etc. And also includes the manufacturing plant and shipping plant fields.
- Market Segment: this section indicates the market segment information filled in.
- Business Potential: this section includes the forecast table.
- Negotiation History: This section lists all the changes of target unit price and volume in order to give a history of the negotiations.
- Product forecast/Business potential is used to fill 5 years of forecast.
- Negotiation History is use to track the changes of Product information section.
- Opportunity Team manages the visibility/right of the opportunity.
Related Objects
- Competitive Insights: to update.
- Cross BU lead: allow to link a cross BU lead to the opportunity.
- Involved Accounts: allow to link other accounts to a single opportunity.
- Involved Contacts: allow to link several contact to a single opportunity.
- Open Activities: allow to log activities (task, event).
- Visit Reports Links: allow to link several visit report to a single opportunity.
- Quotes: allow to see quotes generated from the opportunity, or linked to the opportunity.
- Cases: allow to link cases to the opportunity.
- Activity history: display all activities
- Stage History: track all status updates
- Google Docs, Notes & Attachments: allow to attach document to the opportunity.
Opportunity security model
Who can create? | Any sales user can create an opportunity |
Who can see? | The visibility a user has on an opportunity depends of the value of the field “Visibility”: - “Shared”: any sales rep can see the opportunity and all the opportunity product details
- “GBU restricted”: only the sales rep sharing the same GBU as the GBU defined on the product page can have visibility on the opportunity and opportunity product details
- “Confidential”: only opportunity owner and opportunity team member(s) can see the opportunity and opportunity product details
The visibility is then editable by the sales user having edit rights on the opportunity. |
Who can update? | Only opportunity owner and opportunity team member(s) with edit rights can update the opportunity. Users above the ones having edit rights (i.e. Managers, GBU presidents) in the role hierarchy will inherit the visibility/edit rights. |
Who can delete? | Only System Administrators can delete an opportunity |
3. Opportunity custom buttons & features
Opportunity buttons
"Add Product & Forecast" button
This button triggers the same flow as during opportunity creation. It allows to add a new opportunity product in the same opportunity.
"Update Forecast" button
In edit mode, the button mass copy copies the volume and the price of the 1st line in all lines
4. Specific rules & automation
Opportunity Creation
Any sales rep can create an opportunity, even if not in the Account Team. Opportunity can only be linked to an SAP Customer or a Non SAP Customer . The sequence also includes adding product with details (target price, UoM, etc.), the market segmentation and the forecast. Some rules are implemented in the flow:
- The currency set by default correspond to user's preference.
- The unit of measure set by default correspond to the one of the product selected (formula).
Field History Related List on the Opportunity
Fields tracked are:
- Cloned from
- Distributor
- GBU Classification
- Negotiation status
- Priority
- Product Description
- Product to be developed
- Source of opportunity
- Temp Product Family
- Visibility
- Wego ID
- Won/Lost Review
- Market Share
- New Market
- Priority Project
Status Management
The following rules have been defined regarding the management of the status of an opportunity:
- At creation, the opportunity can be created in any stage of the process.
- The opportunity can by-pass one stage, (e.g. move from stage 1 to 3).
- The opportunity can move back in its stages (e.g. from industrial to lab testing).
