Opportunity data elements

Opportunity data elements

In this article we cover the key elements of an Opportunity and their importance. 

Status

• Potential

Implies that the the system has found this via the pre-configured queries. You need to review and see if you should make it Active, or Ignore it. All Potential Opportunities are included in Potential Opportunity charts.

• Ignored

Is a Potential Opportunity that you have chosen to ignore (meaning not wortwhile pursing). This will not appear in any charts as a consequence.

• Active

Is an active opportunity you are looking to win.

• Won

The sale has been closed and is now in general business activities. Ensure you capture the actual Sale value.

• Lost

You lost the opportunity. This will be included in appropriate win/loss reporting, in particular conversion charts.

Topic

Describes the opportunity. Try and be consistent with terms. The system provides you a list of previous topics to assist. 

Pipeline

This aligns the opportunity to a common type of opportunity and also the stages you wish to track the Opportunity through its life cycle. 

Conversion rates are tracked in the Charting.

Your administrator can create and maintain these for your Practice.

Pipeline Stage

Each Pipeline has a unique set of stages, allowing you to monitor their progress and how close they are to closing. Ensure you keep this up-to-date to monitor progress.

Charts for Pipelines are stacked according to Stage.

Assigned To 

Who in the business the Opportunity is assigned to. Conversion rates are tracked against Assigned To.

Assigned Teams

Track which team owns the Opportunity. Conversion rates are tracked by Team.

Estimated Value(s)

What you estimate the value of the initial and ongoing value of the Opportunity. The Estimated Value is used in chart reporting.

Sale Value(s)

This should be set when an Opportunity is "Won". This value is then used in conversion and success reporting.

Referral Source (and Type)

Capture who referred the Opportunity. This can be a User, Team, Client or external source.

Create views for a specific Referral source to measure the value of Opportunities (won and lost).

Activated Date

The date the potential opportunity was activated as an Active lead.

Created

Date the Opportunity was first created (for Potential, the date it was first created as a potential).

Created by

Who (user) originally created the Opportunity.

This is blank for Potential Opportunities.

Entity Type

If the Opportunity is linked to a Group then this will display "Group". Xeppo Group Code will be set and Xeppo Code will be blank.

If the Opportunity relates to a Client then Entity Type will display the type of Client (ie Individual, Company, Super Fund, Individual, etc).

Participant 1 and 2

Allows you to capture staff within your practice who are assisting with the opportunity.