#1 Sales Forecasting Software

Make Better Business Decisions With The Sales Forecasting Software

Get real-time visibility of your sales pipeline and strategize with greater accuracy and consistency using Salesken’s sales
forecasting tools. Forecast your revenue, identify bottlenecks using key information such as the best and least-performing
sales reps, find out quotas achieved during the year, and boost your team’s performance.

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Save your valuable time and increase your sales up to 2X using Salesken’s AI-driven forecasting tool.

Here’s how forecasting can help your business.

Reason #1: Make Strategic Decisions

The sales forecasting tool gives you complete visibility into your sales activities that allow you to make informed decisions about everything. From inventory to staffing to marketing efforts and defining product lines, it collects data and analyzes all factors involved. Furthermore, it allows sales managers to identify any bottlenecks in achieving the target and help rectify them by making necessary adjustments to their approach and strategy, thus, bringing in more leads.

Reason #2: More Accurate Budgeting

The best sales forecasting tool analyzes all current and past data to help with accurate forecasting. It empowers businesses to accurately estimate their costs and revenue by considering current and possible market demands. This allows companies to establish proper profit plans and income flows. It also helps determine the additional resource requirements, if any, in the long run, and prevents the last-minute panic.

Reason #3: Better Allocate Your Resource

Companies can allocate their resources across different functional departments and teams for increased optimization and amplified performance. If the forecast looks promising for the upcoming quarter, sales managers can better incentivize their sales reps and offer more discounts to their customers to improve conversions while staying profitable. Similarly, if the prediction doesn’t look good, more resources can be allocated to the marketing departments to help with more lead generation.

Reason #4: Improved Recruitment

Sales forecasting helps you determine whether or not you need to start hiring or put a pin on your recruitment plans. If you are planning to launch a new product in the upcoming quarter, you might require a bigger task force. This is when your team considers amplifying the hiring process. Similarly, if your sales forecasts predict an increase in demand, companies need to allocate proper resources and budget towards hiring and obtaining manpower to meet those numbers. And if the demand is expected to be low, you may want to pause your hiring plans and focus on the business process instead.

Reason #5: Better Prospecting

When you do a sales forecast, it gives you a clear picture of how many deals your sales team needs to close in order to achieve the revenue target. The same data helps you determine how many prospects you need in your pipeline to be in good shape. Besides, better prospecting enables you to filter your leads or consumers out who don't align with your product or service.

Reason #6: Set Better Goals

The main task of a sales manager is to set achievable goals and ensure that all your team members are aligned. Sales forecasting helps you set realistic goals. The costs and revenue estimates lay the foundation for the entire strategy throughout the year. It provides a vision for the company and points out a better direction for the sales team.

Reason #7: Higher Customer Satisfaction

Apart from meeting the monthly sales target, companies also need to keep satisfying their customers. When sales forecasts are achieved as planned, your company can also continue to fund external marketing activities such as organizing events, creating an omnichannel presence, and other activities to delight and connect with your customers.

Reason #8: Motivate Sales Teams to Boost Performance

Using historical and current data, sales forecast software tries to estimate achievable targets for your team. It also helps set a challenge for your sales team and keep them engaged. Besides, their performance can be tracked on an individual level, allowing sales managers to keep a tab on each performance and reward the ones who help meet the estimated number.

What is Sales Forecasting?

Salesken turns your data into an arsenal that you can maximize to your advantage. All your conversations with your customers are unique and packed with powerful details about them, their interests, needs, and problem resolutions.

Salesken’s engagement platform captures your team’s customer-facing conversations across multiple channels like phone, social media, or web conferences and analyzes them with AI. This, in turn, helps you build a winning sales strategy based on successful conversations.

Different Ways to Forecast

Generally, there are two ways to predict your sales for the upcoming time period: top-down and bottom-up forecasting.
As the name suggests, top-down forecasting analyzes future performance by studying high-level data and working down
to revenue. On the other hand, bottom-up forecasting assesses low-level data to examine your company’s future
performance. A sales manager will better identify the best method for your organization.

Who
It’s crucial to define who your prospects are. Depending on your buyer's persona, the sales forecast can get more accurate.
What
What are you planning to sell? A sales forecast is based on the solutions that you offer in relation to the problems that your prospects are facing.
where
It’s essential for the sales team to know where the buying decision is made and where the actual product will be used. For better forecasts, the sales team needs to get closer to the centre of the action.
why
Here, you need to know why prospects are buying your product over your competitors and vice versa. What is that gap between your solution and that of your competitors, making them consider your product now?
How
You need to be aware of how your target audience is making the purchase decisions. You need to account for how they make a decision.

Features of Salesken's Sales Forecasting Tool

From revenue insights and predictability to delivering customer happiness.

Forecast Across Multiple Pipelines

Salesken eliminates the need to manually collect data into your spreadsheet to forecast multiple pipelines. Instead, use our sales forecasting software for seamless integration of data from various platforms, including your CRM, and get a visualized picture of your pipelines. The sales team can easily view the monthly or quarterly revenue, understand how each product is performing, and how far they are from reaching their targets.

Leverage Forecast Reporting and Analytics

Along with a visualized pipeline, Salesken gives you in-depth knowledge of your team’s and the overall sales department's performance. You can get a clear idea of how many deals were lost, won, and closed, how many deals are pending in the pipeline, which sales reps have closed the most sales, who needs improvement, and more. With Salesken’s sales forecasting solution, you can get all information you need to grow your revenue.

Powerful and Easy-to-use Forecasting Software

Salesken’s forecasting tool provides a clear picture of your targets and where you stand currently. This forecasting software is easy to use, customizable, and powerful. Its rich and intuitive interface makes it easy for everyone in the team, including those who are non-tech savvy, to efficiently use the platform and do what they do best.

Best Sales Pipeline Visualization

With Salesken’s sales forecasting software, the sales team can maintain complete visibility into their sales pipeline. Complete pipeline visualization helps in better sales management as it provides a holistic view of relevant KPIs, helps in identifying potential bottlenecks, and streamlines sales activities. It helps build a streamlined workflow for you and your sales team that aligns with your business needs.

Seamless Integrations for Data Import

In order for accurate forecasting, Salesken’s sales forecasting software has to pull data from all data recording systems. The platform needs internal sales data, including call data, emails, chats, and more, to forecast and predict future growth. It enables seamless integration with other data systems you might use to record sales, including accounting applications and CRM, to collect and analyze data.

Why You Should Consider Using Salesken’s Sales Forecasting Software

Understand Which Sales Activities Are Closing More Deals

Not all sales calls end up in lead conversion. Salesken’s intelligence platform helps you determine which sales calls have the maximum impact on your leads and derive results. Our forecasting tool analyzes all your sales call and reps activities and tells you how you can increase the chance of converting leads into your customers.

Improve Your Sales Process for Maximum Conversion

Salesken has got you covered throughout the sales cycles—from qualifying leads to nurturing them for final conversion. Our sales intelligence data, when combined with AI-based suggestions, can help sales reps identify the contacts that are ready to buy. Thus, it reduces the average lead-to-close time and boosts the overall performance of your sales department.

Increase Revenue with Smarter Sales Strategies

Salesken’s AI-based forecasting tool helps sales decision-makers such as CFOs, CMOs, and other stakeholders involved by extracting specific insights from all customer/prospect interactions with utmost accuracy. Sales managers can use these insights to build better strategies and make business decisions that can lead to better engagement with prospects and improve their lead conversion ratio, resulting in increased revenue.

Identify and Remove Roadblocks to Boost Productivity

There are many possible risks involved in a sales pipeline—insufficient budgets, competitive pressure, unrealistic targets, etc. Sometimes salespeople are stuck in mundane tasks of data entry rather than picking up calls and following up with leads. With Salesken’s Sales forecasting software, you can track the current status of your sales goals and identify the gaps, if any. It also helps you identify any change in market demands so that you can adjust your sales planning accordingly and reach your goals.

Conduct More Rewarding Conversations

Most of the time, prospects complain that the sales representatives do not realize their needs and try to push a solution that does not fit their requirements. Our sales forecasting tool analyzes all the past call recordings as well as present calls and reveals the areas or topics where leads are most responsive. With Salesken’s personalized sales strategies for every individual rep, identify leads' interests and steer the conversation towards those points in real time. Closing sales deals have never been this easier.

Boost Productivity amongst Your Sales Team

Using the insights from our sales forecast tools, salespeople can automatically identify which leads to prioritize. This helps save time by stopping them from chasing unqualified, low interest leads and increasing the chance of conversions. The platform helps you identify the accounts that are actively engaging and intend to purchase a product or service based on their behavior, interests, and the type of content they are consuming.

How Can Salesken’s Forecast Data Help Your Business

The best sales forecasting software helps managers track every individual's performance and identify opportunities to increase revenue.

Align With Marketing Teams
Based on the forecast data, you can notify the marketing team on the number of prospects that need to be targeted. Insights from sales forecasting help align your sales and marketing team.
Improve the Performance of your Reps
Sales forecasting software provides insights into how your reps are performing. You get complete visibility into each sales rep's activities and offer feedback whenever required.
Bring Your Stakeholders Onboard
Pulling future sales data from forecasting software can help you gain confidence from your investors and other stakeholders.

Common Challenges Faced During Sales Forecastings

To ensure maximum efficiency from a sales forecasting tool, it’s crucial to understand what impacts the forecast result. Here are a few common challenges that are typically faced during sales forecasting:

A Lack of Predictive Data
For accurate sales forecasts, it’s essential to have detailed historical data to work with. But unfortunately, not every organization, especially the newly established ones, have a substantial amount of historical data to run predictive analysis and come up with realistic numbers. Most of them rely on market research and competitive intelligence to base their forecasts. Having low-quality data can cause harm in the long-term sales challenges as the sales forecasting software can’t feed data to form predictive patterns. Investing in a platform like Salesken can help store and manage all your data and seamlessly integrate it with other data systems.
Technology Limitations
Most organizations have invested in sales tools to help boost their sales department performance. On average, sales organizations routinely use more than 10 sales technology tools. However, the challenge lies in the fact that the sales technology stack isn't integrated properly, including CRM. A lack of proper planning and integration is why sales forecast software cannot collect enough data and run an accurate prediction. Bring together all the right resources and follow a structured plan for implementing sales tools so that it leads to better performance.
Unpredictable Markets
A result of an unexpected event such as extreme weather, economic crisis, and global pandemic like COVID-19 can drastically change your sales forecasts. Besides, customers’ interests and behavior are constantly evolving and demand greater satisfaction, and to make matters worse, sales managers make decisions based on their gut feelings during such challenging times. This makes forecast accuracy even worse, and the expected revenue growth can completely take a back seat. Understanding these new patterns and regrouping customers according to the situation can improve sales forecasts.
Overestimating Forecast
Most of the reasons why reps are over-optimistic in their forecasts are psychological. They work in a highly competitive environment, and their wins and failures are heavily broadcasted on the leaders' board. The pressure makes it difficult to predict their future growth accurately. This stress and fear can make it even harder for the best reps to correctly forecast the sales revenue for the upcoming months. Thus, a sales forecasting tool is a must that helps you run a predictive analysis based on data and facts and doesn’t rely on human emotional bias.
Season Change
While forecasting sales, leaders forget to include the impact of change of seasonality that can have on consumers' buying behavior. Depending on your location, industry, location, and target audience, consumers might be more or less likely to buy at certain times of the year. For instance, SaaS companies generally give out a lot of discounts during the holiday seasons, which results in increased sales.

Design a Sales Forecasting Plan with Salesken

Sales forecasting requires a framework that needs to be revised from year to year. It involves three primary activities.

Calculate Numbers and Time Period

While running a sales forecast algorithm, you need to clearly define the estimated monetary amount and what the timeframes will be. Once you enter that data, the software pulls data from the same time period for the past years and starts running an analysis.

Review and Revise

Sales forecasts can change at any given time due to unforeseen circumstances or events. Thus, it’s essential to review the estimates at key milestones, compare them with the current status, and revise if necessary.

Break the Patterns

While running a sales forecast analysis, take inputs from different team members. Ask different questions and take different angles of the data once in a while to find new and better ways to achieve a more accurate forecast.

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Frequently Asked Questions

What is sales forecasting software?

A sales forecasting software solution is designed to help sales leaders and other decision-makers involved to predict the future growth of the company. It gathers and analyzes all past and present sales data, including call recordings, sales numbers, buyers' profiles, and others, to draw insights into revenue growth.

Sales forecasting software is valuable for sizes and types of businesses. Some of the most popular sales forecasting solutions available in the market are Salesken, HubSpot Sales, and Pipedrive.

How does sales forecast software work?

Sales forecasting software runs on a set of mathematical algorithms to predict the number of sales each product will have in a certain stipulated time period. It takes into account historical and present sales data to produce a forecast.

Along with sales data, these algorithms also searched for market trends such as moving averages and seasonality. The sales forecast software then matches the algorithm with the trend of sales to each product and creates a sales forecast for the upcoming desired sales period. Based on this predictive analysis, sales forecasting software systems provide detailed reports on the sales estimates for the sales leaders to act upon.

How to choose the best forecasting software?

You need to create a roadmap for choosing the right sales forecast software. Here’s how to do it.

First, evaluate your business needs. Next, you dig deeper into the type of data you want to input into your system. This is essential because not every sales forecast platform is built for every kind of business.

Second, you need to know how well the system integrates with other data systems, including your existing applications. Also, understand how easy it will be to migrate sales data from one system to another. Once you have all the information, you can look for sales forecast solutions with those features or talk to sales forecast software providers for a customized package for your business.

Always consider how easy the software is to use and whether or not it falls into your budget category. You do not want to end up with software that will burn a hole in your pocket.

Why every company need sales forecasting software?

Having a sales forecast software like Salesken helps with accurate forecasting. Here are some of its benefits.

An accurate sales forecast allows sales managers to efficiently allocate resources to increase revenue and manage their cash flow properly.
Having reliable sales forecast software eliminates the guessing game and conveys confidence to the management and the board, as the predictions are based on data, not any gut feeling.
Sales forecasting helps in strategic planning, which helps boost the overall performance of the sales department and makes it easy to achieve targets.

Accurate forecasting sets benchmarks for future trends and allows sales leaders to structure and optimize their sales process to ensure more wins.