I'd like to be able to set up hierarchical territories whereby a country/state is part of a territory and a territory is part of a region. I'd like both fields to be auto-set based on the country or state in the address, which I think I can do via a workflow. I know I could just create custom fields within accounts/contacts but I'd like to potentially leverage the territories functionality as I believe we can set targets for each territory and subsequently regions.
Is there a way to easily do this? It seems like something that should be pretty straight forward and although I did a search, couldn't find a comprehensive answer.
Thanks in advance.