How to Manage a Strategic Opportunity in CRM

Overview:

This article explains how to manage a Strategic Opportunity in CRM. Maintaining accurate and up-to-date opportunity information improves forecasting, supports collaboration, and provides visibility into key revenue growth initiatives.

Process:

1. Go to My Apps and open Okta.

2. In Okta, search for X4A and open it.

   • Tip: You can also access Xvantage for Associates directly from My Apps.

3. In X4A, hover over the left navigation menu and select Sales.

4. Select CRM from the Sales sub-menu.

5. In the CRM left navigation menu, navigate to Sales > Opportunities.

6. Ensure that All Opportunities is your current view to show all opportunities.

7. Locate and open the Strategic Opportunity that you want to update.

8. Update Frequency: The recommended update frequency is based on the opportunity's Estimated Close Date (ECD):

   • Every 14 days for opportunities with an ECD within the next 90 days.

   • Quarterly for opportunities with an ECD greater than 90 days.

Note: Regular updates help ensure accurate forecasting and visibility into opportunity progress.

9. Key Feilds to Maintain - Manage Deal Section:

   • Estimated Revenue: Enter the expected incremental revenue associated with the Strategic Opportunity. The value should reflect the potential business growth being pursued with the customer and vendor.

   • Est. Close Date: Specify the target date by which the opportunity is expected to close.

   • Current Situation: Provide a high-level summary of the opportunity, including:

     • Recent developments

     • Current status

     • Next steps

     • Risks or roadblocks

       Important: Include the date and your initials with each update, as multiple associates may contribute information to the opportunity

   • Probability: Set the probability based on the likelihood of successfully closing the opportunity. This value should reflect the current sales forecast and expected outcome.

   • Xvantage Influence: Use this field to indicate the level of influence Xvantage has on the opportunity.

     Available values include:

     • Critical Value Driver – The opportunity cannot be won without Xvantage being part of the engagement.

     • Key Value Driver – Xvantage is one of the primary factors influencing the customer's decision.

     • Influential Value Driver – Xvantage is one of several factors influencing the customer's decision.

     • None or Minimal – Xvantage had little or no influence on the opportunity.

10. Click Save.