Opportunity Management System (OMS)
Definition - What does Opportunity Management System (OMS) mean?
An opportunity management system (OMS) is a system that provides information on sales leads or opportunities, along with other supporting information. Typically, these systems will provide a visual interface that organizes certain kinds of data like customer or potential customer identifiers, transaction status, past purchases and other relevant information that will help to assist sales teams.
Techopedia explains Opportunity Management System (OMS)
Essentially, opportunity management systems represent a subset of customer relationship management software, which organizes all kinds of data about customers to help sellers work more intelligently to generate leads, pursue opportunities and close sales. Many CRM solutions involve digital interfaces where sales professionals can get at-a-glance information about the customers and their specific preferences, purchase history and overall tendencies. These tools can be powerful additions to a sales department.
An OMS specifically focuses on showing sales teams where they are headed with an individual sales goal. There are many different ways to set up opportunity management systems. Vendors will often customize these technology solutions to the needs of a specific client based on feedback, research and close consultation. It’s important that these tools be designed in ways that will facilitate a specific kind of sales process, rather than being broadly set up to accumulate data that may or may not be relevant to the sales goal.