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:
Account: Organization; Includes Customer, Vendor, Partner, Affiliate, or Other.
Contacts: Individual; Associated with a maximum of one account (through the contact form).
Leads: Prospect (Potential Customer/ Potential Sale).
Opportunities: Potential Sale (Created when a lead is almost ready to buy a product or service).
Quote: Document for customer/prospect; Contains information about Product, Quantity, Pricing, Payment Terms, and other important details.
Order: Confirmation from customer/ prospect on buying a product.
Invoices: Document containing billing information.
Competitors: Information about competitors. So that you can keep track of them and win.
Sales literature: Centralized repository for sales-related documents. Contains Brochures, Product Guides, Competitors information, Pricing and Discounts, Sales documents, etc.
Product Catalog: Collection of Products and their pricing information.
Goals: Used to keep track of progress on achieving target revenue.
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.
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