allows you to monitor, manage, and forecast the monetary value of sales opportunities. This helps maintain an accurate revenue pipeline, enabling precise financial projections for strategic decisions, such as investing in new marketing campaigns based on potential earnings.
Accessing this feature
Go to Deals
How to use it
Effectively tracking deal values involves several key steps within the platform to ensure accuracy and comprehensive reporting:
Create or Edit a Deal Record
Go to the Deals module and select + New Deal or open an existing deal record from your pipeline. Each deal record serves as the central point for all related information, including its potential value.
Enter the Estimated Deal Value
Within the deal record, locate the "Value" field.
Input the expected monetary value of the deal. This figure should represent the total revenue anticipated if the deal is successfully closed.
Ensure this value is entered accurately to maintain reliable financial forecasts.
Assign Currency
Select the appropriate currency from the dropdown menu associated with the "Value" field. The system supports multiple currencies, allowing your organisation to track international deals with precision.
Consistent currency assignment is vital for consolidated reporting and financial reconciliation.
Define Probability and Stage
Update the "Probability" percentage and the "Stage" of the deal (e.g., Prospecting, Qualification, Proposal, Negotiation, Closed Won, Closed Lost).
These fields directly influence the weighted value of the deal in your pipeline reports, providing a more realistic forecast of potential revenue. A higher probability or a more advanced stage typically assigns a greater weighted value.
Set Expected Close Date
Specify the anticipated date by which the deal is expected to close.
This date is critical for time-based revenue forecasting and pipeline management, allowing you to visualise future revenue streams across different periods.
Update Deal Status Upon Closure
Once a deal reaches its conclusion, update its status to "Closed Won" or "Closed Lost."
For "Closed Won" deals, the recorded value contributes to your actual revenue figures. For "Closed Lost" deals, the value is removed from the active pipeline, providing insights into lost opportunities.
Review Deal Value Reports
Access the reporting section within the Deals module or the main Analytics dashboard.
Generate reports that consolidate deal values, forecast revenue based on stages and probabilities, and analyse historical performance.
These reports offer critical insights into your sales pipeline and overall business performance.
Tips
Regularly review and update the estimated value for each deal to maintain data accuracy.
Establish clear guidelines for currency assignment, especially for international deals.
Implement a well-defined set of deal stages with clear entry and exit criteria.
Assign realistic probability percentages to deals based on objective criteria.
Conduct regular reviews of your active deal pipeline and reconcile projected values against actual outcomes.
Train your team on how to accurately enter, update, and interpret deal values.
Integrate your deal value forecasts with broader financial planning processes.
Document the key assumptions behind the estimated value for large or complex deals.
Need help?
For further assistance, contact us at [email protected]