How to Increase Sales Forecasting Accuracy with Automation
Sales forecasting is the map of estimated sales performance, revenue, and expenses that guide a sales organization in their planning processes. Having an accurate sales forecast is crucial to driving revenue, growth, and profitability. The most successful companies are consistently looking for ways to increase sales forecasting accuracy, reduce inefficiencies, and maximize ROI in order to stay on track to hit goals. So what does forecasting look like for the average company in today's increasingly competitive business landscape? The majority of businesses conduct their sales forecasting manually. In fact more than 75% of organizations rely on spreadsheets to manage their planning and forecasting functions. Typically, companies compile data continuously, tracking it down from various spreadsheets, and analyzing at the end of each quarter—often only to discover that due to unforeseen circumstances, sales forecasting is off, and your team is not on track to reach key goals.
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