Intelligent Sales Forecasting
Coming up with an accurate forecast is challenging for sales organizations of all sizes and industries for a number of reasons. Find out what they are and how you can overcome these obstacles..
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What is Sales Forecasting
Sales forecasting is the process of estimating future revenue by predicting the amount of product or services a sales unit (which can be an individual salesperson, a sales team, or a company) will sell in the next week, month, quarter, or year.
At its simplest, a sales forecast is a projected measure of how a market will respond to a company’s go-to-market efforts.
iERP team is here for you to answer your questions!
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Improve Your Sales Forecast Accuracy
5 Simple Steps to Improve Your Sales Forecast Accuracy
- Clean Up Your Data. One of the leading causes of missed forecasts is bad data. …
- Get Granular. Identify factors that impact the probability of closing a deal by tracking granular data within your CRM. …
- Compare Models. …
- Hold Salespeople Accountable to Their Forecasts. …
- Keep It Simple.
- Utilize external and internal indicators in the forecast.
Or get engaged with iERP and our software will do this for you!
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Why Accurate Sales Forecasting Matters
- A sales forecast helps every business make better business decisions. It helps in overall business planning, budgeting, and risk management.
- Sales forecasting allows companies to efficiently allocate resources for future growth and manage its cash flow.
- Sales forecasts help sales teams achieve their goals by identifying early warning signals in their sales pipeline and course-correct before it’s too late.
- Sales forecasting also helps businesses to estimate their costs and revenue accurately based on which they are able to predict their short-term and long-term performance.
iERP is here to help you to get a more reliable and consistent forecast!
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