Table of Contents Hide
- What Is the Importance of Sales Forecasting?
- What to Think About When Choosing a Sales Forecasting Software
- Best Sales Forecasting Software
- #1. Pipedrive
- #2. Adaptive Insights
- #3. [basic-code]
- #4. Gong.io
- #5. Zoho CRM
- #6. Aviso Insights
- #7. Slickpie
- #8. InsightSquared
- #9. People.ai
- #10. SalesDirector.ai
- #11. Collective Intelligence
- #12. Map My Customers
- #13. Anaplan
- #14. Planning Analytics from IBM
- #15. Salesforce Sales Cloud
- #16. Workday Adaptive Planning
- #17. Prophix Software
- #18. Centage Planning Maestro
- How to Choose the Best Sales Forecasting Software
- Related Articles
Sales forecasting software is the technological equivalent of a magical crystal ball. The capacity to see into the future enables them to plan for and prepare for industry growth, loss, or sweeping changes.
Excel spreadsheets were formerly the go-to tool for sales professionals for tracking and predicting sales. Sales forecasting software, on the other hand, provides a more accurate, intelligent, and simple way to identify trends in sales data.
Here’s all you need to know about the significance of sales forecasting software and the best brands on the market.
What Is the Importance of Sales Forecasting?
Sales forecasting allows businesses to estimate growth and obtain better insights into their operations. When leaders recognize trends in data, they can devise successful strategies and make decisions that will help their company thrive.
There are two types of sales forecasting:
- Data and historical patterns are used to generate quantitative forecasts.
- Qualitative forecasting is easier to understand. It usually necessitates market research, polling potential customers, and expert advice.
Sales forecasting software uses quantitative measurements to assist firms in gaining greater insights into their future based on their past. It examines past business data and generates a report of anticipated sales based on trends.
Sales forecasting software are used by businesses to address the following critical issues for corporate growth:
- What is our projected revenue?
- Do our actual sales match our projected sales? If not, why not?
- What is the most accurate method for forecasting sales?
Most software includes templates that enable leadership and sales teams to easily and quickly evaluate data. The capability of each software will vary depending on how comprehensive the software is. They all, however, allow teams to obtain a sense of where their firm is and where it is going.
What to Think About When Choosing a Sales Forecasting Software
Since sales forecasting Excel spreadsheets were the only choice, technology has gone a long way. There are now a plethora of companies that enable businesses to gain more in-depth insights.
However, with so many alternatives, deciding which is best may be difficult. When deciding whether sales forecasting tools are suitable for you, keep the following in mind:
Static vs. Dynamic Forecasts
While some software provides static data, more solutions are beginning to use dynamic projections that are constantly tested to ensure they accurately estimate sales.
The accuracy of the forecasts you receive is limited by the data that your software can access. Import capabilities enable your tools to have all of the information they require without having to enter it manually.
Sales forecasting is a collaborative activity. The easier it is to communicate information, the more insights and alignment there will be in the organization.
Many leaders are hesitant to add another task to their to-do list. The ease of use of the software is critical to how well your team will use it and how frequently leadership will turn to it for information.
And furthermore, because there are so many options for sales forecasting software, businesses can find one that meets their needs and priorities.
Basically, instead of taking more time and money away from the sales team, the right forecasting tools will add value.
Best Sales Forecasting Software
The following are some of the best sales forecasting softwares out there with the factors above as a basis.
Pipedrive produces a more precise visualization of the sales pipeline, resulting in better insights and results. It allows businesses to see exactly where in the pipeline they need to focus their attention and what needs to happen to drive better sales.
Furthermore, it includes a real-time dashboard that allows the sales team and leadership to see how they are performing. It also tracks company goals to ensure that everyone is on track at all times.
#2. Adaptive Insights
Several factors can influence your sales, but it can be difficult for leaders to determine which ones have the greatest impact. For the most part, adaptive Insights enables businesses to gain a better understanding of which decisions will have the most impact. Leadership can use the software to undertake what-if scenario analysis to see how various changes will effect the bottom line. It also assists businesses in determining the best quotas for their team by providing greater information and visibility.
Sales Analysis and Forecasting Software by [basic-code] allow businesses to use complete tools for their business. It aids in forecasting and strategic decision-making while also allowing businesses to optimize their inventories. It is also tailored to each company’s specific requirements to help them become more efficient.
Gong.io seeks to provide leaders with complete visibility into the buyer’s journey. Sales are often conducted through a variety of channels, including phone, email, text, and meetings. Gong helps organizations arrange everything in one spot so that they know exactly where each contract is in the process. Understand whether a deal is going successfully or not, and put an end to sales forecast shocks.
#5. Zoho CRM
In addition to a CRM, Zoho provides revenue forecasts so that all of your data is in one location. It employs a number of criteria, including prior data and pipeline deals, to generate reliable sales forecasting insights. It can even be broken down by territory, team, or individual to have a better understanding of the details. Zoho is a low-cost solution for enterprises who require a single tool to meet multiple purposes.
#6. Aviso Insights
Aviso Insights connects with the majority of CRMs to provide both real-time and historical data to improve insights and inform decision-making. It can create forecasts based on sales and pipeline performance using AI and big data.
Slickpie is ideal for start-ups and small enterprises that want accounting software that can handle a wide range of duties. In addition to accounting services, it offers sales forecasting to help you assess the effectiveness and profitability of your sales teams. It interfaces with the leading CRMs, such as Salesforce and Microsoft Dynamics, to make information easier to retrieve. It is also completely free, making it excellent for firms just starting started with sales forecasting.
InsightSquared handles all of the arithmetic, allowing leaders to focus on making decisions. Its algorithms examine a range of factors, such as prior patterns, rep performance, sales pipeline, and average transaction size, to provide the most accurate forecast possible. It gives information on closing rates, revenue estimates, key performance indicators (KPIs), marketing strategies, and more.
People.ai is an AI-powered and data-centric platform that syncs data across your organization to provide superior insights. It not only delivers insights, but it also provides practical suggestions to assist leaders in making decisions. It enables businesses to build more pipelines for increased sales.
Growth is exhilarating, but it also introduces new obstacles. When it comes to hiring new team members and developing a firm, leadership frequently requires additional information to help support their decision. SalesDirector is a conversational AI assistant that provides a comprehensive revenue picture as well as useful recommendations for increasing the sales team. Additionally, pipeline visibility assists businesses in identifying obstacles and prospects for growth. It also makes recommendations when a new pipeline is required.
#11. Collective Intelligence
Collective[i], one of the largest global sales networks, guides B2B sales teams with data, AI, and predictive technology. It easily connects to your CRM and any other data source to provide insights and intelligence. Collective[i] directs sales representatives in certain actions that directly contribute to revenue. It provides leadership with insights into their team’s pipeline and performance, as well as direction for sales reps to focus on in order to increase sales.
#12. Map My Customers
Understanding insights is just as valuable as the insights themselves. With our mapping features, Map My Customers assists leadership in identifying crucial regions for growth. With the use of maps, you can have a better understanding of the most difficult places as well as the most significant prospects for progress. We assist businesses in better understanding their areas, allowing them to make more informed decisions.
Anaplan is pushing the boundaries of connected planning to new heights. Their platform is driven by purpose-built proprietary technology. The capacity to plan in a connected manner allows for dynamic and collaborative planning. This provides a solution for global organizations to connect people and data, allowing for real-time planning and decision making.
#14. Planning Analytics from IBM
IBM Planning Analytics, which is based on IBM technology, provides agility and precision. This modeling provides faster insights and enables for a more rapid rollout. Allowing businesses to save money on labor and overall costs. Additionally, enabling for the use of the Microsoft Excel interface for easier adoption. Your team may communicate across channels to gain a 360-degree picture of data and gain a more trusted understanding of win/loss trends and performance indicators to enhance revenue.
#15. Salesforce Sales Cloud
Forecasting has never been easier or more precise than with Salesforce Sales Cloud. In-line editing, override visibility, multi-currency support, and real-time views of your team forecasts are all available. You have all of the information you need in one place to not only forecast properly, but also to make smarter decisions. To ensure a complete picture of your business, dig deeper with real-time reports on sales, service, custom apps, and 3rd party data that anyone can produce.
#16. Workday Adaptive Planning
Workday Adaptive Planning Business Planning Cloud places a premium on forecasting. This software allows you to develop models of nearly every aspect of your organization. Allowing you to anticipate not only sales but also budget, personnel, SaaS, and other factors. Financial modeling can be structured around your fiscal year, funding calendar, revenue recognition schedule, and other factors to provide you with a clear financial picture of your company.
#17. Prophix Software
Forecasting is an important component of every organization, but it may be challenging to get right. Manually made forecasts are frequently out of date not long after they are created since they are missing information if they are not routinely updated to fit your company climate. With reliable and constantly updated automatic forecasts, you can see how you are performing not only now, but also in the future.
#18. Centage Planning Maestro
Centage is a cloud-based planning and analytics platform that promises to provide financial intelligence, budgeting, forecasting, and reporting analytics throughout the year. They provide critical intelligence to huge corporations at a pricing point suitable for small to medium-sized businesses.
So, with a clear view of your organization’s financial health, you can make timely decisions and respond to changing markets.
How to Choose the Best Sales Forecasting Software
What does this mean for you, dear reader? Basically, there are numerous tools available to assist your team in collaborating and working with a top-down solution, providing for a more clear vision of your organization and more precise planning. Furthermore, it is critical to identify what areas of your organization you hope to foresee and how you intend to use the tool. And because predicting accuracy is critical, it is even more crucial to use a technology that is as precise as possible for you.
On the other hand, larger corporations own some tools. If you currently have their suite, it may be advantageous to purchase these products for simplicity of integration. Furthermore, some solutions enable many users to plan and anticipate for their own team or department. This can be useful for larger teams that want managers to organize their departments and have numerous perspectives that add up to an overall vision. This can be critical for larger teams, although smaller organizations may only require an overview view. Understanding the needs you are attempting to address is critical before investing time and money in technology.