When managing your sales pipeline in GoldMine CRM, it’s vital to understand the distinction between a Sales Forecast and an Opportunity. Both play a key role in sales management, but they serve different purposes and offer unique benefits. This topic will be explored in detail during our upcoming webinar on 5th June at 10am UK time.
What Is an Opportunity in GoldMine?
An Opportunity in GoldMine is a record of a specific potential sale you are working on. It tracks the journey of a deal from the initial enquiry through to closure, capturing details such as products or services involved, estimated value, probability of closing, and the current stage in your sales process. Opportunities are managed through defined stages like “new enquiry”, “qualification”, “quote”, and “order”, providing a clear structure for your sales team to follow. Each opportunity is linked to a contact or company and can be assigned to different team members for collaboration and progress tracking.
What Is a Sales Forecast in GoldMine?
A Sales Forecast in GoldMine is a projection of expected revenue over a certain period, based on the opportunities and quotes in your pipeline. Forecasts aggregate the values of open opportunities, often weighted by the probability of closing and expected close dates. The forecasted sales feature is particularly useful for estimating cash flow, planning resources, and making strategic business decisions. Sales forecasts are typically visible under the Pending tab and can be generated automatically from quotes or opportunities, especially when using integrations like QuoteWerks.
Key Differences: Opportunity vs Sales Forecast
| Feature | Opportunity | Sales Forecast |
|---|---|---|
| Purpose | Manage and track individual deals | Predict total sales and revenue over time |
| Detail Level | Specific to each deal, with full history | Summarised view across all open deals |
| Usage | Day-to-day sales management and collaboration | Strategic planning, reporting, and cash flow analysis |
| Where in GoldMine | Opportunities tab, linked to contacts | Pending tab, dashboards, and forecast reports |
| Who Uses It | Sales reps, managers, team members | Sales managers, finance, business leaders |
Why Use One Above the Other?
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Use Opportunities when you need to manage the full lifecycle of each sale, especially for complex or high-value deals. Opportunities are ideal for tracking all activities, communications, and progress through your sales stages. This is essential for teams that require detailed visibility and collaboration on each deal.
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Use Sales Forecasts when your focus is on the bigger picture—predicting revenue, planning cash flow, and making strategic business decisions. Forecasts are invaluable for management and finance teams who need to understand projected income and spot trends in the pipeline.
In practice, both features work together: as you update opportunities, your sales forecasts automatically adjust, providing a real-time, accurate picture of your pipeline and future revenue. GoldMine’s reporting and dashboard tools make it easy to visualise both individual opportunities and overall forecasts, supporting proactive, data-driven decisions.
Join our free webinar on 5th June at 10am UK time to see these features in action and learn how to get the most from your GoldMine CRM.
This solution is provided by Wizard Systems, who have been supplying and supporting CRM systems for over 30 years. Wizard Systems offers the complete GoldMine CRM solution, including all training and support. Visit www.wizard-systems.com.uk for more information.
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