Sales Forecasting Software
These products won a Top Rated award for having excellent customer satisfaction ratings. The list is based purely on reviews; there is no paid placement, and analyst opinions do not influence the rankings. Read more about the Top Rated criteria.
Salesforce is a web-based CRM application that enables users to forecast revenues and track leads. It is a leading sales, service, and marketing app. Salesforce.com's Sales (CRM), Service, Platform and Marketing applications are designed to help companies connect with customers,…
Prophix offers a Corporate Performance Management (CPM) software that enables budgeting, planning, and reporting. Prophix emphasizes the software’s ability to automate data management and reporting tasks.
Pipedrive is a customer relationship management (CRM) software built to help small teams to drive sales.
SAP Sales Cloud (formerly SAP Cloud for Sales) is a cloud sales application with sales automation, enterprise resource planning (ERP) integration, and collaboration capabilities.
Tableau CRM (formerly Einstein Analytics) from Salesforce is a cloud-based business intelligence solutions and analytics software. It provides users with automated data discovery, CRM-connected analytics, top-down views of data, augmented analytics, predictive insights, and customizable…
InsightSquared Sales Analytics is a sales analytics and development platform that also supports demand generation analytics and SaaS reporting. It is designed for providing insights into sales processes, closing rates, pipeline and revenue forecasts, calculating KPIs, and market…
Oracle CX Sales (formerly the Engagement Cloud, and before that the Oracle Sales Cloud) is a sales automation software accessible through Microsoft Outlook, iOS, and Android, along with territory and quota management and social collaboration. CX Sales includes modules such as the…
Clari is a predictive sales analytics and sales forecasting solution from the company of the same name headquartered in Sunnyvale.
QuotaPath automates the commission process, helping revenue teams manage and track variable pay more seamlessly. Teams that use QuotaPath gain real-time visibility into commissions and forecasted earnings and see an increase in revenue and quota attainment as a result.
People.ai is a revenue intelligence platform for go-to-market teams. The platform promises to help sales, marketing and customer success teams uncover every revenue opportunity from every customer. Customers include: Lyft, Gainsight, Tanium and Palo Alto Networks. People.ai helps…
Nutshell offers a CRM with contact management, calendar sync, click-to-call, and collaboration features.
Predictive Pipeline kept track of every change in the sales pipeline and predicts quota attainment boasting 80% accuracy, with Neuralytics, the XANT predictive engine. The product was based on C9 Predictive Sales, owned and supported by XANT (formerly InsideSales.com) since May…
Jedox is a Business Intelligence and Corporate Performance Management solution. According to the vendor, their solution’s unified planning, analysis and reporting empowers decision makers from finance, sales, purchasing and marketing. Additionally, the vendor says this solution helps…
SalesDirector.ai is a sales forecasting and coaching tool that uses artificial intelligence to make predictions and recommendations based on combined CRM, Email, Calendaring and call log data.
MoData is an AI-powered sales intelligence software that provides organizations with insights on all major sales metrics to help make data-driven business decisions. Key capabilities include pipeline analysis, sales forecasting, revenue analysis, and account based sales reports. The…
Aviso Insights provides predictive analytics software that is designed to help sales organizations optimize their performance and exceed their revenue goals.
MediaFly SalesKit is a sales content management software solution offered by Mediafly, Inc..
Xactly Forecasting enables users to tackle the toughest pipeline challenges and deliver the results that matter to everyone from the CRO to Finance. Xactly Forecasting helps to improve sales and revenue forecasting accuracy using artificial intelligence (AI) and machine learning…
Fliptop was a predictive analytics application combining public web data with internal CRM and marketing data to score leads, identify target companies and trigger marketing actions. Fliptop was acquired by LinkedIn in 2015 and integrated with LinkedIn products. Fliptop is no longer…
BoostUp is a Revenue Operations and Intelligence Platform from the company of that name in Santa Clara, designed to drive predictable revenue, 95% or greater forecast accuracy, unified data, and actionable risk insights for a company's pipeline, opportunities, accounts, and renewals.…
noCRM.io is lead management software that is designed to help salespeople track and close deals efficiently. This software helps salespeople capture information from several sources including spreadsheets, a contact form, or a business card. The vendor says their sales software…
Azurepath is designed to automate lead management and performance tracking for insightful business growth. According to the vendor, Azurepath is remarkably easy to use and suitable for any sized business selling any kind of product or service. Visual lead queues for individuals and…
Xactly Sales Planning provides end-to-end continuous sales planning solutions that incorporate automation and data-based insights, so the user can manage everything including coverage, territory, quota and capacity management.
PlaceCPM combines transactional-level financial and cash forecasting, budgeting, modeling, consolidations and core planning with advanced collaboration, workflows, reporting and visualization tools in one application natively built on the Salesforce Platform. PlaceCPM aspires to…
Greykite is an open source Python library developed to support LinkedIn’s forecasting needs and offer long- and short-term predictive analytics. Its main forecasting algorithm, called Silverkite, is fast, accurate, and intuitive, making it suitable for interactive and automated…
What is Sales Forecasting Software?
Sales forecasting software evaluates historical business data and produces a report of expected sales based on trends. Forecast reports show sales targets vs. achieved sales vs. potential sales.
Sales forecasting technology aims to answer these questions:
- What amount of revenue can we expect? This can be organized by salesperson, territory, or account.
- How did actual sales compare to expected sales? If those two numbers don’t match, why not?
- What method will produce the most accurate forecast?
Sales forecasting software includes templates. These templates run statistical analyses on data and produce sales forecast reports. Typically, users program the templates with “assumptions” to simulate sales behavior and market conditions.
Ultimately, forecasting is a process of self-assessment, market assessment, and self-reflection. Accurate forecasts require detailed finances and business records, as well as external market conditions.
Benefits of Dedicated Sales Forecasting Software
You can create sales forecasts using spreadsheets or a general BI tool. However, the benefits of a dedicated sales forecasting tool are:
- A UI for Sales (vs. IT or data scientists)
- Forecast templates
- Visuals for sales managers
- Better contextual understanding of forecasts
- Deep integration with other sales technology
- Sophisticated CRM systems often include sales forecasting as a capability
Sales Forecasting Software Features
Functionality differs depending on the complexity of the product, and whether it’s a point solution or part of a Sales technology suite. Features may include:
- Sales forecast benchmarking: Forecast sales and compare to company or industry benchmarks.
- Quick forecasts / Dashboard: A quick overview of sales forecasts.
- Sales forecast visuals: Clear and helpful visuals.
- Sales forecast templates: Pre-built templates for forecast reports.
- Sales forecasting factors: Multivariate forecasting algorithms that allow users to adjust the factors that influence projections.
- Sales forecast review: Tracks forecast accuracy/model fit and confidence.
- Sales forecasting management: Ability to manage models and assumptions based on forecast reviews.
- Custom forecast models: Allows for granular control over the forecasting approach.
- Record of previous sales forecasts: Record of previous forecasts/audit trail.
- Sales forecast collaboration: Allows users to collaborate on sales forecasts. For example, different users may access, comment on and adjust forecasts.
- Data import: Import historical data from CRM systems and other sales software.
- Export to Excel
Demand Planning vs. Sales Management
Sales forecasting serves two main use cases. First, projections can be used for demand planning. In this ERP-use case, forecasts inform product inventory, and resource planning. The goal is to improve production scheduling, inventory management and workforce logistics.
Second, projections can be used to monitor expectations vs. sales performance. This supports corporate planning, as well as sales performance management. It can help with goal-setting, territory and quota adjustments, and compensation plans.
Sales Forecasting Software Comparison
Before choosing to invest in a new sales forecasting software, consider the following key points:
- Reporting: Some sales forecasting tools offer static reports. More sophisticated tools offer dynamic forecasts that continually test model fit. In other words, they test how well certain assumptions predict sales accurately. Either way, the software should document the models used and provide visibility into underlying assumptions. Sales forecasting templates help simplify the math and data analysis. However, they should not be a black box. The mechanisms should be available for review and adjustment.
- Types of errors: Projected sales numbers are rarely 100% accurate. Therefore, it is important to understand trends in the inaccuracy of the sales forecasts themselves. This will help managers produce more realistic forecasts in the future. It will also provide insight into what type of operational inefficiencies might arise because of inaccurate forecasts. For example, under-estimation can lead to limitations or customer service failures. Over-estimation can lead to wasted overhead due to over-investment in products and resources. The most robust sales forecasting tools will perform meta-analyses on the type of errors made in forecasts, and improve model fit accordingly.
Determining whether or not you need a tool that offers more dynamic reporting capabilities can help you narrow down the list of options you are considering. In addition, look for sales forecasting tools that will proactively adjust their forecasting models to help make predictions increasingly accurate over time.
Frequently Asked Questions
Sales forecasting capabilities are often included in larger customer relationship management (CRM), corporate performance management (CPM), revenue operations, or predictive sales analytics platforms. Some examples of tools that also have robust sales forecasting features are: