Dynamics CRM includes the following Sales Entities and few of these specially Leads, Accounts, Contacts, Opportunities, Quotes, Orders and Invoices are very important for the Sales Process (shown in the diagram below)
- Lead
- Leads when Qualified can be converted into Contacts, Accounts and/or Opportunities
- Accounts
- Contacts
- Opportunities
- Competitors
- Products
- Quotes
- Orders
- Invoices
- Goals
- Goals Metrics
- Rollup Queries
- Marketing Lists
- Sales Literature
- Quick Campaigns
The following Sales Process is available out of the Box in the Dynamics CRM (diagram courtesy Microsoft VA). The Sales Process Starts with a Lead – which has to be Qualified to Create an Opportunity which can then result in a Quote, an Order and Finally an Invoice.
The Lead Qualification Process depends on the Organization – and there are different methodologies to qualify a lead – the most popular being the BANT (Budget, Authority, Need, Timeline). A Salesperson determines if the Lead has the Authority, and Real Need for the Product or Service and if they have the budget and can make t he purchase in an appropriate time – Once the lead is qualified it can be converted into a potential opportunity.
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