Setting Up Your Product Catalogue in Microsoft Dynamics 365
Knowing about the Product Catalogue in Dynamics 365, is hugely valuable, as it unleashes a wealth of functionality, such as forecast and revenue calculations, and automation of Opportunities, Quotes, Orders and Invoices. Getting your product catalogue set up correctly can make the raising of quotes and invoices both quicker and more accurate.
The product catalogue is perhaps one of the most misunderstood and badly used parts of Microsoft Dynamics 365 CE.
Products are what we provide to our customers, the reasons that they come to us. Products in CRM are equally important as the clients, who ultimately will give us money for those products and services.
Examples of products include:
- A particular model of phone
- A particular model of computer
- An item of clothing in a particular colour and size
- An engine part required to fix a problem with a car
- An hour of an expert's time
- A rental property (for a period of time)
- A job performed by a tradesperson
Products are the yang to the yin of your customers and prospects in CRM – a true CRM. No business sells everything, and even within the products and services – yes, the product catalogue can manage services as well as physical products - that they do sell, the number of variations is actually limited.
The way that the product catalogue is structured makes even a large, complex, and rapidly changing product set easier to manage than managing the same product set without this structure.