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Working with Sales Forecasts

This provides a way of forecasting sales revenue over a period of time in the future.

The Sales Forecast Document collates Sales Opportunities to measure the sales revenue for a particular period.

This Sales Forecast can be generated for individuals and teams.

An individual sales person can view a personal forecast, while a team manager can generate a forecast for the entire team.

Prerequisites


Working with Sales Opportunities

How to Create a New Sales Forecast

  1. From the Explorer navigate to Sales→Sales Forecasts.
  2. Click on ‘Create New’ plus.
  3. Give the Forecast a name in the ‘Forecast Name’ field.
  4. Select the Period.
  5. Select the Forecast Type as either:
    • Personal
    • Team (which includes the sales opportunities for your team)
    • Full (includes all sales opportunities)
  6. Click the button ‘Create Forecast‘.
  7. The New Sales Forecast page will shown (see below).

NOTE:

Depending on permission levels, set in Working with Workers, you may only have access to generate certain Forecasts.

new-sales-forecast

A new Sales Forecast

At the bottom, the different Sales Opportunities are listed.

Figures derived from the Forecast Sales Opportunities:

  • Standard Forecast: The sum of the closed and committed business deals during the specified period.
  • Weighted Forecast: The weighted sum of the closed and committed business deals during the specified period multiplied by the stage probability. Example: $3186.40 x 100% (Stage is definite, which equals 100%) = $3186.40
  • Pipeline: The total committed revenue even if the Opportunities do not lie in the specified period.

It is useful to summarize these figures by Worker, and/or Customer. These summaries are displayed in the remaining tabs.

summary-by-worker

Summary by Worker Tab


summary-by-customer

Summary by Customer Tab

The Sales Forecast can now be saved and retrieved as and when required from the Sales Forecast List.

NOTE:

Changes to Sales Opportunities will affect the forecast. It is seen as a live or real-time forecast.

How to submit the forecast:

  • To submit a forecast first Save it.
  • Then click on the ‘Submit Forecast‘ button.

NOTE:

When a forecast is Submitted it is locked and cannot be changed.

Sales Forecast Key Facts

  • Sales Forecasts are used to forecast the sales revenue during a specified period.
  • The Sales Forecast derives its figures from Sales Opportunities entered and updated by the sales team.
  • The Sales Forecast presents Standard, Weighted and Pipeline figures for projected sales revenue.
  • The Sales Forecast can be generated for an individual or team.
  • By default the Sales Forecast has OPEN status and can be changed.
  • Once a Sales Forecast is Submitted, it cannot be edited and no new Sales Opportunities can be added/removed.

Also Read About


Working with Sales Opportunities
Working with Customers
Working with Sales Quotes