An Opportunity is a sales document that collects the customer (sales prospect), their requested products and services, the total volume of the customer project, the expected sales volume, and an estimated sales probability.
This information becomes more and more concrete throughout the sales process and is updated regularly.
Here you can see an Opportunity in SAP Sales Cloud:
Collection of this data allows for the correct sales team to be formed in order to win the deal. Once the sales team has been formed, a sales methodology, or sales cycle, can be followed. A sales cycle is broken down into phases, each phase with specific tasks and activities that need to be performed in order to further the deal.
You can connect business opportunities with tools to manage activities, sales teams, competitors, surveys, and relationships. You can use the Buying Center to manage relationships and understand the influencers of a particular deal. But most importantly, you can enable guided selling. This enables you to walk your sales team through the steps required to create quotations and sales orders. Knowing the steps and tasks needed to complete the process is key for streamlined information gathering, fast turnarounds, to evolve the opportunity, and continue the sales cycle.
Once you have qualified an opportunity and created a value proposition for the sales deal, you are ready to create a quote.
To keep a full sales cycle document flow, converting an opportunity to a sales quote captures the full history of the business interaction.
Symona will show you how to convert an opportunity into a quote.