Opportunity Management
Summarize
Summary of Opportunity Management
The ServiceNow® Opportunity Management application empowers sales agents and account executives to analyze customer needs and generate tailored product recommendations for potential customers. It helps convert qualified leads—minimal initial customer information—into detailed opportunities by capturing comprehensive product or service details aligned with customer requirements.
Show less
This application is integrated within Sales Customer Relationship Management and leverages the Product Catalog and product configurator, simplifying access to product offerings and streamlining opportunity creation.
Key Features
- Opportunity Management Interface: Organized into multiple tabs to manage opportunities effectively:
- Details tab: Enter basic opportunity information.
- Catalog tab: Search and add product offerings.
- Needs tab: View need templates that suggest product recommendations.
- Line Items tab: Add various line items to the opportunity.
- Competitors tab: Track competitor information.
- Tasks tab: Manage opportunity-related tasks.
- Emails tab: Compose emails for stakeholders.
- Quotes tab: Generate quotes directly from opportunities.
- Pricing Integration: The application integrates with the pricing engine to automatically calculate total and unit prices of product offerings added to opportunities. This dynamic pricing supports:
- Revenue Forecasting: Helps evaluate the total value of opportunities for strategic resource and budget planning.
- Deal Prioritization: Enables sales teams to focus on high-value opportunities based on potential revenue and margins.
- Negotiation Enhancement: Provides real-time pricing insights for tailoring offers that balance customer needs with profitability.
Next Steps
To implement Opportunity Management, refer to the configuration guide titled Install and configure Opportunity Management, which provides detailed instructions for setup and customization.
The ServiceNow® Opportunity Management application enables your sales agents and account executives to analyze customer needs and generate product recommendations for potential customers.
An opportunity in Sales Customer Relationship Management provides maximum information about a product or service based on the needs of a customer (called a qualified lead). A lead for a product is the minimal information that a sales agent uses to advance the conversation with a potential customer and create an opportunity.
Opportunity Management interface
The Opportunity Management application is integrated with the Product Catalog and product configurator to help sales agents access product offerings to build opportunities easily and conveniently. The Opportunity Management interface contains the following tabs:
| Tab | Description |
|---|---|
| Details tab | Add basic information for the opportunity. |
| Catalog tab | Search for and add product offerings to your opportunity. |
| Needs tab | Lists the need templates that provide product recommendations for the opportunity. |
| Line Items tab | Add different line items to an opportunity. |
| Competitors tab | Record competitors information. |
| Tasks tab | Create opportunity tasks. |
| Emails tab | Create emails to send to the required stakeholders. |
| Quotes tab | Create quotes directly from opportunities. |
Integrating pricing in Opportunity Management
Opportunity Management integrates with the pricing engine to consume the default price list and displays the total price and unit price of product offerings in your opportunity.
Based on the prices of product offerings (POs) that are added to the opportunity, the total price values are auto-calculated. For more information, see Add and view the details of an opportunity and Add line items to an opportunity.
- Revenue forecasting: The pricing engine helps agents evaluate an opportunity's total worth by computing the combined prices of each offering included, which in turn helps teams to strategize resource or budget allocation for deals.
- Deal prioritization: By analyzing the potential revenue of each opportunity, your sales team can focus on the deals based on their financial impact. For example, teams can focus on deals with higher potential revenue and higher margins.
- Negotiation enhancement: The pricing engine gives your sales team real-time pricing insights, which enhances the negotiation process by enabling your sales team to tailor offers that meet customer needs while maintaining profitability.
To learn more about pricing, see Pricing Management.
What to do next
To learn about setting up Opportunity Management, see Install and configure Opportunity Management.