What is opportunity in SAP CRM - Customer Relationship Management?

SAP Term: opportunity

• Component: CRM

• Component Name: Customer Relationship Management

• Description: A recognized possibility for sales of products or services. An opportunity can result from a trade fair, a sales deal or a bid invitation. A lead with the status "hot" can also be transformed into an opportunity.

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• Key Concepts: 
  An opportunity in SAP CRM Customer Relationship Management is a potential business deal that has been identified and is being tracked. It is a record of a customer’s interest in a product or service, and it can be used to track the progress of the deal from initial contact to closure. 
  
  How to use it: 
  In SAP CRM, opportunities are created when a customer expresses interest in a product or service. The opportunity record contains information about the customer, the product or service they are interested in, and the expected value of the deal. This information can be used to track the progress of the deal and to identify any potential risks or issues that may arise. 
  
  Tips & Tricks: 
  When creating an opportunity record, it is important to include as much detail as possible. This will help ensure that all relevant information is captured and that the progress of the deal can be tracked accurately. Additionally, it is important to keep the opportunity record up-to-date with any changes in the customer’s requirements or expectations. 
  
  Related Information: 
  Opportunities are closely related to leads in SAP CRM. A lead is an initial contact with a potential customer, while an opportunity is a potential business deal that has been identified and is being tracked. Additionally, opportunities are closely related to activities in SAP CRM. Activities are tasks that need to be completed in order to move an opportunity forward towards closure.