Opportunity Types Configuration

1. Feature Overview

Opportunities represent potential deals for products or services a lead shows interest in. Opportunity Types are the different products and services a business offers. For example, a bank may configure Opportunity Types such as Home Loan, Education Loan, Personal Loan, and Vehicle Loan.

Once you create these, you can set up workflows and assign user permissions to create opportunities under each type. Each opportunity type has its own Manage Opportunities page where you can view the list of opportunities for that type and create new opportunities. For example, if a lead shows interest in Home Loan and Personal Loan, the system creates two opportunities (e.g., “James Joyce – Home Loan” and “James Joyce – Personal Loan”) under each opportunity type.

Having different Opportunity Types helps you streamline the sales process for each offering, identify top-performing products, track pipeline performance more accurately, and assign opportunities to the right sales teams. To know more about opportunities, refer to Opportunity Management – Feature Guide.

2. Prerequisites

You must be the Administrator of your LeadSquared account to configure Opportunity Types.

3. How it Works

This article helps you create Opportunity Types in your account, and the steps to create them are –

1. Basic Details – Name the opportunity type and configure basic permissions for your users for this opportunity type.
2. Fields & Statuses – Define what data to capture in opportunity fields, and configure opportunity statuses across the pipeline (Open → Won/Lost), with optional stages for granular tracking.
3. Forms – Configure the manual opportunity capture form and choose which fields appear on it. Also configure the Opportunity vCard and the Associated Lead form on the Opportunity Details page.

Once done, you can create opportunities under each type (manually or through automations, APIs, forms, and portals), and your users can work on them and take them to completion.

4. Access Opportunity Types

To view and create Opportunity Types in you account –

1. Navigate to My Profile>Settings>Opportunities.
2. Under Opportunity Types, you can view the opportunity types in your account.
3. To create a new one, click Create.

The following sections show how to configure these Opportunity Types.

5. Basic Details

First, on the Create Opportunity Type pop-up, add basic details for the Opportunity Type –

1. Name – The internal display name for your opportunity (e.g., Home Loan, Vehicle Loan, etc.). This field is mandatory.
2. Plural Name – The plural name for your opportunity (e.g., Car Loans, Courses, etc.). This field is mandatory.
3. Description – A description to help your team understand the product or service being offered.
4. Allow Delete – When enabled, all users can delete opportunities created under this opportunity type.
5. Restrict Operations on Closed Opportunities – When enabled, no user can make changes to any closed opportunity.
6. Once you’re done, click Next.

6. Field Configuration

Configure opportunity fields where the system stores opportunity data (such as Status, Deal Size, etc.). You can edit existing system fields or create custom fields.

6.1 Opportunity Fields

By default, a few opportunity fields are listed in your account. In addition to these, you can add custom fields. You can perform the following actions when configuring opportunity fields –

• Add Field – Click this to add a custom opportunity field. From the dropdown, select the data type for the field. You can choose from LeadSquared data types (like String, DateTime, Auto ID, Number, etc.) or a CFS-type Opportunity Field.
• Rename – You can rename all the opportunity fields (except “Notes”).
• Mandatory – You can mark eligible fields as mandatory. Marking a field mandatory doesn’t let you add an opportunity unless the mandatory field contains relevant data.

6.2 Status Configuration

The Status field shows the current state of the opportunity in the sales funnel. To customise the available options, click the gear icon.

• The three statuses available by default are “Open”, “Won”, and “Lost”. You cannot edit or delete these options or add new ones.
• Stages are sequential levels within a status. Under Stage, you can add a list of stages for each status. Users can select a stage from this list when they update an opportunity’s status, which helps stakeholders track the opportunity more effectively. Each Status comes with a default list of Stages. To add additional Stages –
  1. Select the status for which you want to add stages, and click Add at the bottom-left of the page.
  2. Add new stages, and once done, click the save icon.
  3. Repeat the same process to add multiple stages.
  4. Stages are listed in the order of priority. To change their order, use the up and down arrows.
• To allow users to post comments when they change the opportunity status, check the Enable Comments checkbox.*
• To set a default status for new opportunities, select the status from the Default Status dropdown.
• To set a default stage for new opportunities, select the status from the Default Stage dropdown.
• Once you’re done, click Save.

6.3 Field Data Types

The following data types are available by default, which can be used to configure custom opportunity fields –

• Number
• String
• DateTime
• Dropdown
• User
• AutoID is a unique ID the system automatically generates for each opportunity. You can use this ID to bulk update, import, retrieve, and delete opportunities through Opportunity Management APIs.
• Geolocation stores geographic locations. Any location (e.g., MG Road, Indira Nagar, etc.) entered in this field can be previewed on the Opportunity Details page

6.4 Dropdown Fields

Add dropdown options for the corresponding opportunity fields. To do this –

1. Alongside a dropdown field, click the gear icon.
2. On the Enter Dropdown Options pop-up, choose if this is a Dependent Field.
   1. A Dependent Field is a field whose values depend on the value selected in another field. For example, if the Parent field is Grade (Grade V, Grade VI, etc.), the Child field (Subjects) updates based on the selected grade, such as English and History for Grade V, and Physics and Chemistry for Grade VI.
3. Alongside Enter Options, add the list of options you want to display. The top-most option becomes the default option.
   • Click Import to add dropdown options using a CSV file.
4. To automatically add new values sent through APIs, opportunity imports, and the Update Opportunity card in Automation, enable the checkbox next to Allow Auto Update.
5. To allow leads to select multiple dropdown options, enable the checkbox next to Is Multi-Select Dropdown?
6. Once you’re done, click Save, and click Next to continue the configuration process.

7. Form Configuration

Opportunities are manually created through Opportunity Forms. Once you configure opportunity fields, add them to these forms on the Form Configuration tab.

There are two types of forms: the Default Form, available on the Manage Opportunities page, and the Left Panel form, available on the vCard and the Associated Lead card on the Opportunity Details page.

7.1 Default Form

1. From the Select Form to Edit dropdown, choose  Create “Opportunity Name”.
2. Created On, Opportunity Name, Owner, and Status are mandatory and cannot be removed.
   • The same logic applies to all other fields you mark as mandatory.
3. From the list of Available Fields, drag and drop additional fields to the form.
   • Use the drag and drop feature to also remove existing fields from the form. You can also use the “minus” icon to remove these fields.
4. To add multiple sections to the form, scroll to the bottom of the page and click Add Section. Then, add fields to this section using the steps listed above.
5. Once you’re done, click Save.

To view this form, navigate to Lead Management>Opportunities>Opportunity Type, and click the Add Opportunity button.

7.2 Left Panel Form

Here, configure the form that’s displayed on the Opportunity Details vCard and Associated Lead section.

1. From the Select Form to Edit dropdown, choose  Create “Opportunity Name”.
2. On the vCard, the Opportunity Name and Status fields are mandatory and cannot be removed.
   • Select a background display colour for th vCard.
   • Along with the vCard, this colour appears for all activities associated with the opportunity on the Activity History tab on the Lead Details page.
3. On the Associated Lead section, the Owner and Modified On fields are mandatory and cannot be removed.
4. From the list of Available Fields, drag and drop additional fields to the form.
   • Use the drag and drop feature to also remove existing fields from the form. You can also use the “minus” icon to remove these fields.
5. Once you’re done, click Save.

To view the vCard and Related Lead form, open the Opportunity Details page and view them on the left side of the page.

8. Other Actions

On the Opportunity Types page, perform the following actions on an existing opportunity by hovering your cursor on the settings gear –

• Edit – Edit the configurations of the opportunity type.
• Delete – Delete the selected opportunity type.
• Clone – Duplicate the selected opportunity type. Once it’s cloned, you can update the configurations accordingly.

9. Next Steps

• Once you configure Opportunity Types, users can start posting opportunities on your leads from the Manage Opportunities and Opportunity Details page.
• Set up automations, LeadSquared Forms, Portals, and APIs to automatically create opportunities.
• Create tickets in LeadSquared to address issues faced by leads when they’re purchasing the opportunity offered.

10. FAQs

Unable to Edit or Perform Activities on Opportunities

• Issue: I’m unable to update opportunities or perform activities on them, even though I have the necessary permissions via permission templates.
• Possible Causes:
  • Closed Opportunity: The issue may arise if the opportunity is in a Closed status (Won or Lost), and operations are disabled on closed opportunities.
  • Advanced Configuration Settings:
    • If the Advanced Configuration setting for restricting updates on closed opportunities is enabled, users will be unable to update or post activities/tasks on closed opportunities.
• Solution:
  • Disable the Restrict operations on closed opportunities advanced configuration setting.

• • Disable the Restrict Operations on Closed Opportunities setting in the opportunity type configuration

Any Questions?

Did you find this article helpful? Please let us know any feedback you may have in the comments section below. We’d love to hear from you and help you out!