Opportunity Management – R12

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Overview – Opportunity Management

Opportunity Management has been designed to assist with the coordination, management, and decision making required during the sales process. In particular, it has been developed to support the complex sale, which involves the participation of multiple persons on both the buying and selling sides.

Enterprise Opportunity Management allows the user to:

  • Create Strategies – detailed plans that identify the activities that must be performed to close the sale.

  • Effortlessly schedule and coordinate the selling process between the sales team members; ensure that everyone has the exact same information regarding the status of opportunities.

  • Forecast both the probability of closing and the closing date.

  • Complete financial future forecasts using job level time phasing and opportunities.

  • Monitor the cost of the sales process, including risk management.

  • Evaluate the feasibility of sales prospects by considering competition, history, potential revenue forecasts, strategy, and trends; aids in determining what sales prospects to focus on.

  • Evaluate the effectiveness of different marketing strategies.

  • Pull together proposals by querying the corporate database.

The Opportunity Management (OM) module works with three primary objects and two secondary, optional objects. The three primary objects are necessary to track past sales efforts and to schedule and coordinate current efforts. The two optional objects are necessary if a company wants to closely integrate the OM module with the CMiC Field and Job Costing (JC) modules, by beginning data entry for these shared objects in the OM module.

The first primary object is referred to as an organization, which is a company that can have potential sales prospects. This object is detailed by the company’s name, address, contact information, and other company details. Optionally, an organization may also be a vendor (supplying materials for a project) or an independent contractor.

The second primary object is an opportunity, and it is a particular sales prospect that an organization can have.  This object is more complex, in that it is detailed by potential revenue, opportunity team members, accounting and other relevant information. The level of details required, however, depend on how closely the company wants to track sales efforts, and how closely it wants to integrate the OM module with the CMiC Field and JC modules.  As more integration is required, more details are required.

The third primary object is an action item. Action items are scheduled sales actions, aiming to win an opportunity, and they show up on the Calendar screen.

The first optional object is a project, and it is automatically created when an opportunity is created. The difference between an opportunity and a project is that an opportunity is relevant in the OM module (dealing with sales tasks) and a project is relevant in the CMiC Field module (dealing with project management tasks).

The second optional object is a bid job, and whether or not it is automatically created when an opportunity is created is optional. A bid job is a potential job, and if it is won, it becomes a job object that is relevant in the Job Billing module. A bid job, on the other hand, is available in the OM and JC modules. In the OM module, a bid job can be used to begin entering data for a job, and to record the pre-contract costs incurred during the bid process. Once a bid has been won, there is the option of transferring the pre-contract costs to the actual job.  Another potential use of tracked pre-contract costs is to identify any overspending or underspending during the sales phase. Also, in the OM module, a bid job can be used to begin entry of the bid/estimate information required for bidding.

In regards to the functionality in the OM module, for consistency and simplicity, the functionality for handling contacts, notes, attachments, and similar objects like action items (used in this module), vendor items, work items, and asset items, is the same throughout the Enterprise system.