Opportunity Management is a part of SAP S/4HANA for customer management, which enables you to control your sales process. You can also do this in the Interaction Center.
An opportunity is a recognized possibility for an enterprise, for example, for sales of products or services. An opportunity can, for example, result from a trade fair, a sales deal or a bid invitation.
The Opportunity describes the sales prospects, their requested products and services, the sales prospects’ budget, the potential sales volume and an estimated sales probability. This information becomes concrete in the course of the sales cycle and can be displayed and evaluated in the system.
An opportunity goes through a sales cycle which is divided into various sales stages. The sales cycle is defined according to time, from the start date to the estimated end date of an opportunity. A sales stage is a section of the sales process, in which specific activities are carried out. A phase could be, for example: “preselection”, “first contact”, “presentation”, “quotation phase”, or “contract phase”.
The sales process ends with a sales order or a rejection.
The Opportunity describes the customers (sales prospects), their requested products and services, the total volume of the customer project, the potential sales volume, and an estimated sales probability. This information becomes more and more concrete throughout the sales course and is to be updated regularly by the sales employee.
An opportunity provides the framework for presenting sales projects from the very start and tracking their progress.
The following sales information can be recorded in an opportunity:
- Customer (sales prospect), employee responsible
- In the Parties Involved assignment block, other internal and external partner functions, such as sales representative and ship-to party.
Note: You can change a party involved by clicking Edit List, selecting the party to be changed and clicking Propose Alternatives. If a suitable alternative is available, you can select it from a dropdown list of results.
This comprises the contacts who influence the buying process and the relationships between them.
Information about the sales cycle
- Sales cycle
- Start date and estimated end date of the sales project
- Current sales stage within the sales cycle and date on which this phase began
- Estimated sales probability within the current stage
- Status of the opportunity and the date from when the opportunity has had this status
- Reason for status (won, lost)
- Expected (estimated) sales volume for opportunity
- Expected net value of products or services (this is the cumulated, expected product value from the items)
- Budget that the customer (sales prospect) has access to for the project
In each stage of the sales cycle, you can decide whether or not the data for the expected sales volume is to be entered for the sales volume forecast. You set the indicator for forecast relevance only if you are sure that the opportunity is likely to be completed successfully.
Information about the classification of opportunities
The following data is used for classifying opportunities and provides the basis for global analyses and evaluations.
This allows you to display various business areas or enterprise initiatives using different methods.
- Origin of the opportunity (for example, trade fair)
- Priority of the opportunity for your sales
In the opportunity, you can create, change, or display different text types for your own use or for your correspondence with business partners.
Opportunity Management is integrated into Organizational Management for customer management Here, you can define the data for the sales organization.
In an opportunity, you can enter information about several products or services. This means that you can create your own item per product or service. You can enter the name of a product hierarchy that is maintained in the system.If you do not know the exact product name or product hierarchy, you can enter a rough product name first. You then receive an error message related to this in the message log. In this case, you can only save the opportunity as incomplete.
You can enter the product quantity and expected product value at item level. If a product that has been maintained in the system is entered, the system creates the exact value from pricing.
You can insert documents into an opportunity and manage them. For example, product presentations that you have received for the opportunity, correspondence, or material such as sketches, building plans, and so on.
In addition, you can also maintain the following information relevant to opportunities:
- Competitors and their products
- Planned and completed activities for the opportunity
- Notes, attachments, and milestones relevant for the opportunity
In a product suboverview page, in the Subopportunities assignment block, you can link a subopportunity directly to the product in the master opportunity rather to the opportunity itself.
Opportunity maintenance also allows you to Redetermine Parties.