PrecisionLender and CRM/LOS Stage Overview
In PrecisionLender, a bank can configure stages to represent the stage in which a deal is in. If a bank is implementing the CRM and/or LOS integration, the opportunity stages as well as the loan stages (if integrating Force.com LOS) will need to match between PrecisionLender and the CRM/LOS systems.
The difference between PrecisionLender stages and those that live within a CRM and LOS is that the stages within the CRM and LOS live on two separate objects: Opportunity and Loan. In PrecisionLender, all stages are pulled from a single list. Because of this, the stages that will need to be configured are dependent on the integration(s) being implemented. This article will outline stage considerations and impacts if your bank has licensed the CRM and/or LOS integration(s) with PrecisionLender.
Please note: It is important to understand the impacts of stage settings from a pricing platform perspective. For additional details on stage settings from a Pricing platform perspective, refer to the Setting up Opportunity Stages article.
PrecisionLender Stage Setup
For banks implementing standalone or combined CRM and/or LOS integrations, the stage name in PrecisionLender must match the Opportunity and/or Loan stage name in the bank’s CRM/LOS system.
- Opportunity Stage Name
- CRM Functionality (Initial Pricing): If your bank has licensed the CRM Integration Module (with Salesforce or Microsoft Dynamics), the opportunity stage names in PrecisionLender will need to match those in the CRM. When initiating pricing in PrecisionLender from the CRM, the CRM connector passes the CRM opportunity stage name into PrecisionLender. If a stage is passed in that does not match a PrecisionLender opportunity stage an error will result, blocking the user from accessing their opportunity.
- LOS Functionality (Post-Submission to LOS): If your bank has licensed the CRM Integration Module (with Salesforce) in addition to the Force LOS Integration Module (with any Force.com LOS platform), additional settings within the Stage setup page will drive the Opportunity stage to update post-submission to LOS. Additional details regarding these settings are explained further below.¹
- Loan Stage Name:
- CRM Functionality: The loan stage is not present until the loan is submitted to the LOS. There is no loan stage functionality if implementing CRM standalone.
- LOS Functionality: If your bank has licensed the Force LOS Integration Module, the loan stages in the LOS will need to be added to PrecisionLender. Upon submitting a deal to the LOS, a Loan Stage field is displayed on each individual loan within a submitted PrecisionLender opportunity. Automation is set up in the bank’s LOS in order to push loan stage updates from the loan in the LOS to PrecisionLender. Additional settings within the Stage setup page will drive the loan stage updates when a deal closes. Additional details regarding these settings are explained further below.²
The primary purpose of the status is to allow banks to bucket opportunity stages within a more-generalized categorization. If your bank has licensed the Force LOS Integration Module, there are a couple of statuses that will drive varying output which include:
- In Origination¹: Assigning a stage the “In Origination” status allows PrecisionLender to automatically assign this stage as both the Opportunity Stage and Loan stage when the deal has been submitted to the LOS for the first time.
- Closed Won and Closed Lost²: As part of setup, the bank will be asked to define what the opportunity stage should be set to when loans are mixed between closed won and closed lost statuses. Then, via a PrecisionLender configuration setting, the final Opportunity stage (as defined by the bank) will be set in the case that not all loans are closed won/closed lost. If the loans all fall into the same closed status, the opportunity stage will reflect the final closed loan stage.
This is used to better manage the PrecisionLender dashboard, pipeline, and reports. This setting does not impact integrations.
- Opportunity Stage Probability: Probability for opportunity stage is used as a secondary check in order to match opportunity stages between CRM and PrecisionLender. If there is not a match for the opportunity stage name that is passed, a secondary check is run using the probability in order to see if there is a match to the probability sent from the CRM in PrecisionLender. If there is, that is the opportunity stage displayed. Note: Probability is only used to assign opportunity stage if there is no match to the opportunity stage name.
- Loan Stage Probability: Loan stage probability does not drive or impact any integration functionality.
The default represents the stage a new opportunity will default to.
- CRM functionality: The default stage will not be used if integrated with the CRM integration because PrecisionLender receives the stage directly from the CRM opportunity.
- LOS functionality: If integrating only with the Force.com LOS integration, the default stage will be displayed upon initially pricing in PrecisionLender. The stage will then be updated by the user as the PrecisionLender opportunity progresses.
Can be used to describe when a stage should be used. This setting does not impact integrations.