Fields for Revenue Splits in Opportunities
Overview of Revenue Splits
The Revenue Splits feature has been introduced for you to allocate revenue for a single CRM opportunity in your company across all contributing partner opportunities in WorkSpan.
An opportunity for your company can be sourced by one partner, influenced by additional partners and closed by yet another partner.
Partner managers in your company can request % splits on behalf of a partner, and a weighted amount based on this split % is calculated for the partner opportunity. An approval process is included to ensure that the splits consider requests from all partner managers, with notifications to partner managers at appropriate times in the review cycle.
With this functionality, you can recognize and reward the contributions across all partners and partner managers that played an active role in getting the deal to closure. Partner managers and the partners are incentivized to participate in all future deals, and accelerate your win rates.
Linking Opportunities in WorkSpan to CRM Opportunities
Roles in Revenue Splits
Any participating partner manager on an opportunity in WorkSpan can request split % for his/her opportunity.
The first Partner Manager on an opportunity in WorkSpan is designated as the Split Approver.
Only a Split Approver or a Split Admin can approve Split % across all the participating opportunities.
All WorkSpan Company Admins in your company have Split Admin rights. Split Admins can edit the splits from any of the participating opportunities and edit splits in any status.
- If the Split Status is Admin Review Requested, then only the Split Admin can edit the Split and NOT the initial partner manager or other partner managers.
- Split Admin can then set the status to Admin Review Completed (cannot assign the status back to In Review or Completed)
- The Requested Split cannot be updated by non-Admins once the status changes to Admin Review Completed unless a new opportunity is added to the split, at which point the default split will be assigned and the status will return to In Review.
Statuses in Revenue Splits
Here are the statuses:
- In Review - when a new opportunity is added to the revenue split or a partner manager requests a different split % for partner approver review.
- Completed - when a split approver completes review of the revenue split.
- Admin Review Requested- when any partner manager or split approver requests that the split admin(s) review the assigned revenue split.
- Admin Review Completed - when a split admin completes revenue split review.
Revenue Splits Process
When a partner manager tries to link a WorkSpan opportunity to a CRM opportunity, WorkSpan validates if the CRM opportunity is already linked to another WorkSpan opportunity by the CRM ID provided.
If an opportunity is already linked (shares a CRM Opportunity ID), the following defaults are applied:
- Split % is allocated equally across all opportunities. E.g, if three opportunities in WorkSpan are linked to the same CRM opportunity, then each WorkSpan opportunity will have a default split allocation of 33.33%.
- The Partner Manager from the first partner opportunity is assigned as the Split Approver.
- Split Status is set to In Review.
The Partner Manager on the current opportunity can enter a Requested Split %.
The Partner Manager on the current opportunity can see the WorkSpan (WS) ID and names of the other opportunities on the split and names of partner managers associated to each opportunity. Other opportunity information is hidden, unless the partner manager is also a member of the other participating opportunity/opportunities.
The Partner Manager from the first opportunity (who is the Split Approver) can set the Split % across all participating opportunities.
- Split Approver can set the Split Status to Completed after completing the final allocations.
- Split Approver can also set Split Status to Admin Review Requested if he/she could not finalize the allocations or if admin review is needed.
- After the Split Status changes to Completed, other partner managers can set the status to Admin Review Requested to request additional review.
- Split Admins can edit the splits from any of the participating opportunities and edit splits in any status.
- If the Split Status is Admin Review Requested, then only the Split Admin can edit the Splits and NOT the initial partner manager or other partner managers.
- Only Split Admin can set the status to Admin Review Completed. (After status is changed to Admin Review Completed, status cannot be assigned back to In Review or Completed by a non-Admin unless a new opportunity is added to the split).
- Requested Split cannot be updated after the status changes to Admin Review Completed.
When a 3rd or a subsequent partner opportunity is linked to the same CRM opportunity, the process restarts and Split % across all opportunities are reset to an equal %. For example, if four opportunities are participating, the Split % for each will be 25%.
When a partner opportunity is unlinked from the CRM opportunity, the process restarts and the split % across all opportunities are reset to an equal %.
For bulk upload of opportunities (Added from CRM) and for the opportunities with the same CRM Opportunity ID, the following default split values are applied:
- Split % = Equal Split
- Split Approver = First Partner Manager
- Split Status = In Review
Split notifications on opportunities are available via the WorkCenter.
If Split is enabled, then the following message is shown when CRM Opportunity IDs are already linked to another WS Opportunity: The Opportunity ID you entered is already linked to a WorkSpan Opportunity. A default revenue split of X% has been assigned.
If Revenue Splits is NOT Enabled, then the following message is shown: Warning: Following CRM Opportunities are already linked with WorkSpan Opportunities: 123, 456,.....
Fields for Revenue Splits in Opportunities
The following standard fields have been added to the company fields section on an opportunity.
- Split %
- % field (< 100%)
- Editable only by Split Approver or Split Admin
- Weighted Amount (Currency)
- Non-editable field. It is auto-calculated = (Split % * Amount)
- Requested Split %
- % field (< 100%)
- Person field
- Non-editable field. Automatically set Partner Manager on each Opportunity.
- Split Approver
- Non-editable field. Automatically set to the initial Partner Manager (for the first WS Opportunity to use a specific CRM Opportunity ID)
- Split Status
- Values: In Review, Completed, Admin Review Requested, Admin Review Completed
- This is a fixed list of values that cannot be customized.
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