Following is a standard process in Dynamics 365. In case your organization follows some additional steps, those can also be incorporated in Dynamics 365 for Sales as well.
- The first step in the process is to create a LEAD. A lead can be a potential sale or a potential customer.
Once the lead shows interest in your product or services and asks for more information, it means they are interested. Once they are interested you can qualify that lead and it becomes an OPPORTUNITY. This process is called Lead Qualification. As soon as you do Lead Qualification two things happen:
- Whatever information you have captured as an individual in the Lead becomes CONTACT.
- Whatever information you have captured as a company in the lead becomes ACCOUNT.
This is an automatic process and if existing contacts or accounts are available for the lead then the system is going to pick that automatically.
- Once you have the opportunity, it means that you have shared the details with the customer, who ask you for more information, so you add products, price, etc. in the Opportunity and created a SALES QUOTE. When you create quotation, you may have to create multiple versions of it because customer might do negotiations with you. All the previous versions are not deleted but saved for history.
- Once the customer is interested in product and services and likes the quote, you can then convert the quote to a SALES ORDER. It means it’s a conformation from a customer and the order is created. In the background, the system closes the opportunity with status Won and created an order.
- So, once you have received a Purchase order form the customer and you have created the Sales order, you can now go ahead and deliver the product and service you have promised and once you have delivers the products and services, it is time to send them an SALES INVOICE. It means that the work is finished and you are sending an invoice so that the customer can make a payment.