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CRM – Best Method to Forecast Your Sales

For success in business, companies always have the need to eliminate unknown quantities and factors. This involves making some educated guesses, or taking past data and using insight to extrapolate from there. Sales forecasting is one such activity that companies have to do routinely to know exactly where things are headed in the immediate future. Although based in facts and statistical data, sales forecasting involves intelligent guesswork. Since having accurate sales forecasts is essential to the operations, strategies, and overall fortunes of a company, it is extremely important to get things right on this front.

The Basics of Sales Forecasting

Sales forecasting involves making as much of an accurate prediction as possible about the future opportunities and risks regarding sales. During sales forecasting, managers have to consider various different factors, consider every likely future sale and bring everything together until it becomes a concrete forecast.

One of the major problems companies face with sales forecasting is the dependence on the intuition of sales representatives. Usually, the sales manager has consultations with every single sales representative, who provide individual forecasts based on their intuition and their perceived ability to close sales. These views are then compiled, edited, modified if needed, and used as the sales forecast for the immediate future.

The problem with this approach is obviously evident. Since a lot of guesswork and intuition is involved here, there is always a chance of error. Also, there is no individual responsibility for making those forecasts, which means that no one can be held accountable if things go wrong. There are also many data streams to consider, and without accounting for all of them in-depth, accurate sales forecasts are not possible.

Solving the Problem – The Right CRM Solution

One way that companies can take out the element of doubt and guesswork from sales forecasts is through the use of the right CRM platform. CRM platforms provide companies with a lot of features, and with the right platform which supports sales forecasting, the job can become a lot easier. Using a CRM for sales, managers can take a look at the sale pipelines of each sales representative at a particular point of time in the context of company-wide sales.

Taking into account various factors like success ratio and average time taken by each salesperson to close, a more accurate sales forecast can be arrived at easily. A good CRM solution is also scalable and adaptable, allowing companies to tailor CRM features according to their requirements.

CRMnext by Intellika

CRMnext by Intellika is a flexible, versatile and robust CRM solution that can provide your company with the ability to make accurate, timely sales forecasts. With excellent features like sales force automation, currency management and marketing automation, CRMnext goes beyond traditional CRM solutions, helping you build your business plans on the back of accurate sales forecasts. Apart from handling all your usual CRM needs, the platform helps you get an authentic yet lucid vision of the future, so you can handle production and sales with ease.

Team Intellika

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