Overview of Dynamics 365 Sales Module

• Introduction:

Microsoft Dynamics 365 is designed to support the sales process from acquiring a new lead through the close of a sale. CRM has a place to store the contact information for new leads, a place to track the follow-up communications (such as Phone Calls, Emails, and Appointments), and the ability to qualify a Lead into an Account, Contact, and Opportunity.

• Terminologies:

1. Account: Organization; Includes Customer, Vendor, Partner, Affiliate, or Other.

2. Contacts: Individual; Associated with a maximum of one account (through the contact form).

3. Leads: Prospect (Potential Customer/ Potential Sale).

4. Opportunities: Potential Sale (Created when a lead is almost ready to buy a product or service).

5. Quote: Document for customer/prospect; Contains information about Product, Quantity, Pricing, Payment Terms, and other important details.

6. Order: Confirmation from customer/ prospect on buying a product.

7. Invoices: Document containing billing information.

8. Competitors: Information about competitors. So that you can keep track of them and win.

9. Sales literature: Centralized repository for sales-related documents. Contains Brochures, Product Guides, Competitors information, Pricing and Discounts, Sales documents, etc.

10. Product Catalog: Collection of Products and their pricing information.

11. Goals: Used to keep track of progress on achieving target revenue.

12. Goal Metrics: Explains how the goal number or figure I measured.

• Process Flow:

Step 1: Capture Lead - Create Lead.

Step 2: Account Creation - Information captured of a company or company details become Account after lead qualification process.

Step 3: Contact Setup - Information captured of an individual in a lead becomes Contact after the lead qualification process.

Step 4: Opportunity management - Once the Lead shows interest in a product and asks for more information Qualify the lead. Now the Lead becomes an Opportunity.

Step 5: Product Catalog - Add all the information about products and their pricing.

Step 6: Quote Management - Create Sales Quote.

Step 7: Order Management - Once the customer accepts everything mentioned in Sales Quote and confirms, convert the quote to order.

Step 8: Close Opportunity.

Step 9: Invoice Management - Create a Sales Invoice and send it to the customer.

Step 10: Sales Business Process - Businesses can define a process flow so that sales users will follow the guided process without any confusion.

References: https://community.dynamics.com/crm/b/sandeepmishracrmblog/posts/microsoft-dynamics-365-sales-module-overview


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