Introduction
It refers to a situation where an individual or organization has the chance to acquire a product, service, or asset that aligns with their needs and objectives. It involves the potential to make a purchase that can bring value, solve a problem, meet a requirement, or provide a competitive advantage.
BizGaze’s “Purchase Opportunity App” helps a business tailor its offerings better and improve customer satisfaction, leading to repeat business and positive word-of-mouth. This helps to grow and sustain the business, increase market share, and potentially lead to increased profitability.
Stage Workflow
User can update the stages for the Tender in this section.
| Field Name | Description |
| Prospect | The initial stage where potential customers are identified and evaluated |
| Identify Accounts Needs | Understanding the specific requirements and preferences of the prospective customer |
| Formulate Offer | Creating a tailored proposal that aligns with the identified needs |
| Negotiate to Close | Engaging in discussions and negotiations with the prospect to finalize the terms and conditions of the purchase |
| Manage Implementation | Overseeing the successful execution and implementation of the agreed-upon solution |
| Closed Won | The stage where the purchase opportunity is successfully closed, and the deal is won. This stage allows user to convert the Tender to a Bidding and an Order. |
| Closed Lost | The stage where the purchase opportunity is lost to a competitor or alternative solution |
| Closed Abandoned | The stage where the purchase opportunity is no longer pursued or abandoned by either the prospect or the seller |
Portlets & Widgets
In the layout view, a Portlet accurately represents each functionality, and its corresponding data is precisely viewed as a Widget. The following section includes the default portlets and widgets of the Tenders App.
This section contains basic details about Purchase opportunity, opportunity information, Opportunity items, and Opportunity value summary
Opportunity Details
| Field name | Description |
| Purchase By | Purchase manager name is displayed. A Purchase manager is a professional who is responsible for managing the procurement and acquisition of goods and services for a company. |
| Exp. Close Date | The expiry close date of the opportunity is displayed. Dealers must decide what to do with their open position before the expiry date. They could close it manually, leave it to expire, or convert the opportunity to a customer |
| LoB | Displays Line of Business segment of the customer. A business segment can be identified by the product(s) sold or services provided or by geographical locations that the company operates in. |
| Open For | Displays the purchase opportunity availability in days, weeks or months |
| Ref No | Reference number of the opportunity |
| Supply Times | Displays how many number of times the supply has occurred |
| Opportunity Date | The date when the purchase opportunity is created |
| Expiry date | Expiry date or last date of the Opportunity |
| Opportunity Volume | Displays the number of opportunities the organization / company got during a specific period |
| For Every Recurring Tenure | A recurring tenure in purchase opportunity refers to a Procurement position that offers the potential for long-term, ongoing purchase relationships with clients or customers. |
Opportunity Information
This section contains details about opportunity name, type, and sub-type
| Field name | Description |
| Name | The name of the purchase opportunity name is displayed. |
| Type | It refers to the classification or category of a Purchase opportunity in a business or Purchase process. (New business, Renewal or Reopen) |
| Sub-type | Opportunity sub-type of an organization. It refers to the classification of a Purchase opportunity in a business or Purchase process |
| Renewal | Displays whether there is Renewal opportunity or not for future reference. |
Items
This section contains the detailed summary of the opportunity Items with Price, Qty & Tax group, Discount selected for creating opportunity.
| Field name | Description |
| Item Name / SKU | Displays name and SKU of the opportunity items. Item name refers to the name or title of a product, service, or item that is being offered for sale or purchase. A SKU, which stands for Stock Keeping Unit, is a unique identifier for each of the products that makes it easier to track inventory |
| Quantity/ Unit Price | Quantity of items and Unit price of the item are displayed. Quantity refers to the numerical value that represents the number of items or units that are in the order. Unit Price is the price of an individual item of the order |
| Amount | Total amount of the quantity of each individual item |
| Pieces | Pieces generally refers to the individual units or items of a product that are purchased or shipped |
| Cartons | Cartons generally refer to the packaging units used to ship and store products. |
Opportunity Value Summary
This section contains details about the Opportunity value summary. An opportunity value summary provides a comprehensive overview of the total cost of the Opportunity, including all the opportunity items, their individual costs, and any additional charges such as taxes, discounts, and shipping fees.
| Field name | Description |
| Gross Amount | Gross Amount refers to the total amount of money or value of a transaction before any deductions or expenses are taken into account. It includes all charges, fees, taxes, and other costs associated with the transaction. |
| Discount | Any discounts or promotional offers applied to the order, either for specific items or the entire order. The “Discount on Items” value is loaded automatically. |
| Total Tax amount | The total amount of taxes applied to the order based on local tax regulations and the nature of the products or services being purchased |
| Assebl. amount | Assessable amount, also known as assessable value or taxable value, is the monetary value of a product, service, or transaction that is subject to taxation |
| Net Total | Net Total refers to the final amount that remains after all deductions, discounts, taxes, and other charges have been subtracted from the Gross Amount. It is the actual amount that a customer is required to pay for a product |
Orders
This section contains the details about the order, Purchase manager, dates and stage name.
| Field name | Description |
| Order No. | It refers to a unique identification number that is assigned to the order, which helps to track and manage the order throughout the procurement process |
| Order Date | This refers to the date on which the opportunity was created. It helps in tracking and managing the order |
| Purchase By | Displays the name of the Purchase manager. A Purchase manager is a professional who is responsible for managing the procurement and acquisition of goods and services for a company. |
| Amount | Displays total value of the Purchase opportunity which includes the estimated cost of the goods or services, taxes, fees and other charges. |
Estimates
Estimate orders consists the items with a defined quoted price and negotiation is acceptable to close a deal. This section contains the details about the estimate, purchase manager, and stage name.
| Field name | Description |
| Estimate No. | Order number of the Estimate is displayed. It refers to a unique identifier assigned to an estimate or a quotation that a seller provides to a potential customer |
| Estimate Date | Displays the date when the Estimate is placed |
| Purchase By | Name of the Purchase manager is displayed. A Purchase manager is a professional who is responsible for managing the procurement and acquisition of goods and services for a company. |
| Amount | Amount to be paid for the order |
Activity Log provide users with essential information, notifications, and real-time updates to keep them engaged and informed about key activities in apps related to updates, notifications, and stage changes.
| Field name | Description |
| Comments | User can write short notes or comments about the Purchase Opportunity |
| Audit | |
| Created Date | Date when the Purchase Opportunity is created |
| Created By | Name of the person who created the Purchase Opportunity |
| Last updated date | Last stage changed of the Purchase Opportunity |
| Last Updated By | Name of the person who last updated the stage |
| Status | Displays the current status of the Purchase Opportunity |
| Time-Line | This widget tracks all the activities within the app. |
Reports
A report is a document that presents information in an organized format for a specific audience and purpose. Although summaries of reports may be delivered orally, complete reports are almost always in the form of written documents.
- Tenders Reports