Siebel Order Management Guide Addendum for Financial Services > Managing Opportunities > Scenarios for Creating a New Opportunity >

Scenario for Using Opportunities to Keep Track of Potential Sales

Some financial products have a longer sales cycle (such as products in commercial banking, small business banking, lending, and mortgage). These products are more suitable for the opportunity functionality. For these products, use an opportunity object to keep track of the potential sales opportunities before opening the financial application.

For example: A customer might go into a bank and inquire about a mortgage rate first before opening up a mortgage application. In such a case, the mortgage sales representative creates an opportunity, then a quote under the opportunity. The sales representative then works with the quote to come up with the right mortgage product and purchasing scenarios that the customer is interested in. If the customer is interested in the product, the sales representative can upgrade the quote to an application (or order) and submit the application for underwriting.