System Data Quotation Weighting
Table Of Contents
Quotation Weighting
Introduction
Quotation Weighting helps you estimate the likelihood of a quote being converted into a sales order.
The weightings and percentages configured in this screen are used within the CRM Manager | Quotes (Opportunities) screen to calculate:
- The probability of a quotation being successful.
- The Weighted Value of outstanding quotations.
- More realistic sales pipeline forecasts.
By assigning a weighting to each quote, you can better understand potential future sales revenue based on the current sales pipeline.
Quotation Weighting Grid
The Quotation Weighting screen contains the following fields:
| Field | Description |
|---|---|
| Description | The name of the quotation weighting stage. |
| Weighting | The percentage probability assigned to the quotation stage. |
Example Weightings
The following examples demonstrate a typical quotation weighting structure:
| Description | Weighting % |
|---|---|
| Quote Sent or Cool | 10% |
| Quote Sent and Still in with a Chance | 30% |
| Verbal Agreement or Warm | 50% |
| Written Agreement or Hot | 80% |
| Money Has Been Sent | 95% |
These values can be tailored to reflect your own sales process and forecasting requirements.
How Weighted Value Is Calculated
The Weighted Value represents the potential value of a quote based on its likelihood of success.
For example:
- Quotation Value: £1,000
- Weighting: 50%
Weighted Value:
£1,000 × 50% = £500
This allows Khaos Control to provide a more realistic view of expected sales revenue rather than relying solely on the total value of all open quotations.
Quotation Weighting Context Menu
The grid's right-click menu includes the following options:
| Option | Description |
|---|---|
| Apply Value Range | Applies the same value to all selected rows within the current column. |
| Clear Selection | Removes the current row selection. |
Best Practice
To ensure accurate forecasting:
- Define weightings that reflect your actual sales process.
- Apply quotation weightings consistently across all opportunities.
- Review weightings periodically to ensure they remain aligned with your conversion rates.
- Use the Weighted Value alongside the total quotation value when assessing future sales performance.