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The Sales Pipeline generally referred to as ‘Sales Opportunity” is a systematic approach to tracking the sales funnel and various stages of selling a product or service. The sales pipeline helps show you exactly in which stage of the sales process is currently. It also provides options to track the probable value of the opportunity, the ‘Grade’, or the importance of the Lead / Prospect. Sales Pipeline transactions can be created for a Lead / COLD, WARM, or HOT Prospect or even for an existing Customer Account.
Creating a sales pipeline is useful for sales managers and people associated with sales.
Menu Path: CRM > Transactions > Sales Pipeline
Select the transaction template, Customer or Prospect, Stage, Source, Grade, Value, Probability, and Estimated close date
Select Priority and Click on Save
Source
You can capture Sales Leads from any source–your Website, trade shows, seminars, and direct mail–and the back office allows you to mention the specific source from where the lead was generated. Monitor the lead generated for each source till it gets converted to a Customer. This helps you to analyze and focus on the best sources for generating leads that finally turn to Customers.
To create a new source, do the following :
Menu Path: CRM> Masters > Source
On the Sales Pipeline Source list, click the (+) sign or use the ‘Insert’ key on the keyboard to create a new Source. You can also go to Menu and select ‘New’
Enter the Description and other relevant information and save. The Code will be auto-generated
Grade
Lead Grading, is an essential part of lead nurturing.
The Grade option allows you to rate whether the opportunity is good, excellent, etc. Grading enables you to determine how well this Prospect matches an ideal Customer determined by the sales and marketing team.
The grade aligns with how close the Prospect is to the ideal Customer Master and how qualified they are based on criteria.
An opportunity from a reputed company likely to give you repeat orders is graded high. At the same time, one from a company that does not have a good credit rating would be graded lower.
Menu Path: CRM> Masters > Grade
On the Sales Pipeline Grade list, click the (+) sign or use the ‘Insert’ key on the keyboard to create a new Grade. You can also go to Menu and select ‘New’
Enter the Description and save. The Code will be auto-generated
Stage
The CRM module allows you to have leads at the various stages that your business requires. Some will be cold or lost, others might be warm or even hot, near to being a done deal. Using the ‘Stage’ field, you can assign relevant stages and manage your leads at each stage of the customer journey. This allows the marketing and sales team to focus your efforts according to which stage the lead is at.
In the Leads Listing, you can view a list of your leads at each sales stage by grouping based on the ‘Stage Rank’ or ‘Stage Description’ column.
Probability % in Stage
The Probability in Stage is designed to set Probability % at Stage Master and when stage is selected in Sales Pipeline master, that Probability % is updated in Sales Pipeline.
Menu Path: CRM > Masters > Stage
On the Sales Pipeline Stage list, click the (+) sign or use the ‘Insert’ key on the keyboard to create a new Stage. You can also go to Menu and select ‘New’
Enter the Description and Probability and Save. The Code will be automatically generated
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