Dynamics 365 For Sales

IMPORTANT TERMS:

• Accounts: Account is an organization. It includes. Companies are stored in accounts.
  - Customers.
  - Vendors.
  - Partner.
  - Affiliate or many others.
• Contacts: Individuals of an org are saved as contacts. Eg CEO, purchasing manager etc. A contact can be associated with maximum one account.
• Leads: Potential/interested customer. Or a customer who is already there and you are introducing new product to them. That person is called lead.
• Opportunity: The Lead who qualified the product is an opportunity (A lead who is ready to buy).. Opportunity must have an account or a contact. A qualified lead is automatically is opportunity. The needs and requirements are identified. Everything is ready at service provider end
• Quotes: A doc for customer including the details of product and its services, its pricing and payment terms. This doc is sent to the customer.
• Orders: It is the confirmation of customer from the already sent quotes. An order is created from quote or even manually.
• Invoices: A doc to bill the customer. This is sent after order fulfilment.
• Competitors: A place where all the competitors are captured. (Other companies doing same things to keep an eye on their working, strengths and weaknesses and make strategies accordingly.)
• Sales Literature: Centralized repository of sales docs for sales team when they go out for selling products. (Brochures etc).             
         - Product catalogue: Collection of company products and their pricing info.
         - Families, products and bundles. Products are singular, bundles are a no. of products and families mean the similarity or common traits in products.
         - Unit group: KG, Pounds etc.
         - Price list: The charges for customer.
         - Discount list: The discount offers.
• Goals: To keep a track of records according to target. Goal details, who is the goal for, type of goal and what is the revenue target for the person, the actual revenue all is included.
• Goal Matrix: The way goal is measured. In dollars or in cases wise.

DYNAMICS 365 SALES PROCESS:

Every step should be completed in order to move to next step.

• Qualify: Qualifying a Lead and pushing them into opportunities. Lead is not necessary to qualify as an opportunity. Sometimes you may want to unqualify a Lead. Unqualified Leads can be ‘disqualified’ choosing the correct reason. If a Lead has to be turned into opportunity then there are multiple options in Lead panel which includes:
• Adding contact/account details.
• Estimated budget.
• Purchase time frame.
• Project process details.
• If no records are found, it can be added by quick add feature in just a few seconds.
• Summary.

After submitting all the details, the Lead is turned into an opportunity. Leads have owners and ownership can either be shared with a colleague or give the ownership to someone else.

• Opportunity: Multiple tasks can be driven with opportunity like turning an activity into a opportunity. If you get a call and you create an activity, you can simply choose the option from dashboard to convert it into opportunity by adding customer contact details etc. You can now work on qualifying the opportunity.
• Develop: It is the second stage of sales process after qualifying a Lead. It includes:
       - Developing expertise in set of information.
       - Developing relationship with customer.
       - Probe customer’s needs.
       - Know about stake-holders.
       - Know about competitors that customer might be turning to.

             We propose solutions for customer in develop stage. Fill in the fields of summary which asks for customer needs and current situation of sales process. Then comes the part of updating activities and notes in timeline, notes about demo, propose solution, estimated closing date, identify stakeholders and competitors. You can add stakeholders by opting for quick create contact option. Move to the next stage.

• Propose: We create a proposal here. If it’s a larger opportunity you might need a sales team and create a team. For smaller opportunity, you can simply make a quote. Quotes answers the answers of costs. Proposals solve the problem a customer might be having. Discounts and internal review are part of proposals depending upon your organization’s business process. Then comes final proposal which is ready to be sent on email, presented to customer or send through fax.

Activities include, identifying sales team, developing proposal, internal reviews and proposing it to the customer. Addition of some business requirements can also be added. Check the fields and follow to go forward with Close.

• Close: It is the last stage of sales process. After presenting the proposal to customer, verification of decision date is done, creating order/invoice and then close it depending upon won or loss. You need to check mark all the points mentioned above along with entering the date in the last stage in Dynamics 365 by sending a thank you note and filing opportunity debrief. Confirm the closing and it’s done!

FEATURES OF DYNAMICS 365 SALES:

• You can pin the most frequent contact, lead, opportunity in the left pane for quick execution at any time.
• Different dashboards can be customized using Power BI feature where bar graph and pie charts reflects information of all the ongoing sales in organization.
• Quick contact feature lets you add any contact, account, lead and opportunity immediately without having to switch tabs.
• Searching within certain parameters as well as directly on the home page enables to extract information within seconds, filter application is also possible.
• Opportunities are printable by fetching the pre entered information in a word document and printing it out, contains every detail.
• Activities can be deleted (will never be regained), or close (will be visible) depending upon situation. Close task asks the reason as completed or canceled. These closed tasks can be seen in my activities’ dropdown.
• Creating appointments from quick create which also have the ability to integrate with office calendar.