Maximizing Sales Forecasting
Utilizing Sales Analytics to Improve Future Revenue
Enterprise sales organizations are under increasing pressure, often both from internal and external stakeholders, to provide more accurate sales forecasts of top-line revenue in order to better predict, and improve, the long-term health of their company. To maintain a competitive position in the market, companies are turning to sales analytics solutions that provide an enterprise-wide data flow into the forecasting process, thus creating a more refined snapshot of future revenue and empowering more efficient, margin-driven sales activity as well as more pure selling time by the sales team itself.
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In Figure 2 (above), we notice that the main pitfalls involved in sales forecasting revolve around the sales reps themselves. With insufficient data entry about sales opportunities and lack of accountability by sales reps for individual forecasting at the forefront of these problems, an accurate sales forecast may seem impossible with such unreliable sales metrics. When problems related to accurate sales reporting arise, it is pivotal that managerial enforcement of data entry is in full force rather than being another barrier.
How Demand Metric Can Help
If you need to ramp up your sales forecasting capabilities, take a look at these tools & templates:
Account Status and Action Plan Template
Sales and Marketing Performance Dashboard
Sales Forecast Spreadsheet Template
Sales Operations Metrics Dashboard
Sales Operations Prioritization Tool
Sales Operations Maturity Assessment
Sales Operations Strategy Scorecard
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