Sales Forecasting Software

Sales Forecasting Software Overview

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:

  1. What amount of revenue can we expect? This can be organized by salesperson, territory, or account.
  2. How did actual sales compare to expected sales? If those two numbers don’t match, why not?
  3. 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.

Top Rated Sales Forecasting Products

TrustRadius Top Rated for 2021

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.

Sales Forecasting Products

(1-25 of 38) Sorted by Most Reviews

The list of products below is based purely on reviews (sorted from most to least). There is no paid placement and analyst opinions do not influence their rankings. Here is our Promise to Buyers to ensure information on our site is reliable, useful, and worthy of your trust.
Salesforce.com

Salesforce

Customer Verified
Top Rated

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,…

Key Features

  • Customizable reports (178)
    85%
    8.5
  • Customer data management / contact management (182)
    85%
    8.5
  • Opportunity management (178)
    85%
    8.5
Pipedrive

Pipedrive

Customer Verified
Top Rated

Pipedrive is a customer relationship management (CRM) software built to help small teams to drive sales.

Key Features

  • Opportunity management (55)
    89%
    8.9
  • Pipeline visualization (57)
    86%
    8.6
  • Task management (53)
    83%
    8.3
Tableau CRM (formerly Einstein Analytics)

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…

Key Features

  • Formatting capabilities (45)
    74%
    7.4
  • Customizable dashboards (45)
    69%
    6.9
  • Drill-down analysis (45)
    68%
    6.8
InsightSquared Sales Analytics

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 Oracle Engagement Cloud and Oracle Sales Cloud)

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…

Key Features

  • Customer data management / contact management (10)
    84%
    8.4
  • Role-based user permissions (11)
    84%
    8.4
  • Single sign-on capability (11)
    70%
    7.0
NetSuite CRM

NetSuite CRM is built on the same code base as the NetSuite ERP product and is usually used by customers who are already using NetSuite for ERP/Accounting.

Key Features

  • Customer data management / contact management (17)
    87%
    8.7
  • Workflow management (16)
    83%
    8.3
  • Opportunity management (17)
    67%
    6.7
Clari

Clari is a predictive sales analytics and sales forecasting solution from the company of the same name headquartered in Sunnyvale.

Nutshell CRM

Nutshell offers a CRM with contact management, calendar sync, click-to-call, and collaboration features.

Key Features

  • Customer data management / contact management (10)
    90%
    9.0
  • Mobile access (11)
    75%
    7.5
  • Integration with email client (e.g., Outlook or Gmail) (11)
    75%
    7.5
InsideSales.com / XANT Predictive Pipeline (discontinued)

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

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

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.

SAP Sales Cloud

SAP Sales Cloud (formerly SAP Cloud for Sales) is a cloud sales application with sales automation, enterprise resource planning (ERP) integration, and collaboration capabilities.

MoData

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…

TopOPPS, from Xactly

TopOpps is a sales pipeline management and sales forecasting solution. This solution provides pipeline visibility and a unified workflow for both inside and outside sales teams. The forecast tool is designed to give users an accurate representation of the sales pipeline in real…

Aviso Insights

Aviso Insights provides predictive analytics software that is designed to help sales organizations optimize their performance and exceed their revenue goals.

Fliptop (Discontinued Product)

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…

Azurepath

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…

Right90

Right90 is a sales forecasting and analytics software solution offered by Right90.

Vanguard Predictive Planning

Vanguard Sales Forecasting is a sales forecasting and analytics software solution offered by Vanguard Software Corporation.

Axtria SalesIQ

Axtria SalesIQ is a cloud-based platform that helps sales management run an effective and efficient sales operation. The solution includes modules for planning, deployment and performance management.

ForecastPRO

ForecastPRO is a sales forecasting and analytics software solution offered by Business Forecast Systems, Inc.

Demand Works Forecasting

Demand Works Forecasting is a sales forecasting and analytics software solution offered by Demand Works Co.

FunnelWise

FunnelWise is a revenue and performance analytics tool that connects Sales and Marketing. In addition to revenue attribution, FunnelWise also includes goal tracking and forecasting. Metrics are tracked throughout the funnel and results are visible in real-time. It integrates with…

Pega Sales Automation

Pega Sales Automation offers built-in artificial intelligence (AI) and insights that direct sellers with real-time offers, suggested actions, content, and valuable insights on how to build and progress pipeline across accounts. By blending predictive analytics with configurable business…

Atlas Planning Suite

John Galt’s Atlas Planning Suite is designed to streamline the user's S&OP process with comprehensive supply chain planning . The Atlas Planning Suite is an end-to-end value network that provides visibility, statistical forecasting, enhanced collaboration across the organization,…

Learn More About Sales Forecasting Software

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:

  1. What amount of revenue can we expect? This can be organized by salesperson, territory, or account.
  2. How did actual sales compare to expected sales? If those two numbers don’t match, why not?
  3. 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:

  1. 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.
  2. 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

What is sales forecasting?

Sales forecasting is the process of predicting future pipeline and sales revenue, based on an analysis of historical data. Some businesses choose to do these calculations by hand or in programs like excel. But other companies instead rely on sales forecasting software to help produce predictions and estimates of future revenue.

Why is it important to use sales forecasting software?

Sales forecasting software is specifically designed to ingest and analyze sales data (e.g. closed and won deals, win/loss records, etc.) to produce accurate predictions about future revenue. While you can still make these calculations by hand or in software like Microsoft Excel, the models you use likely won’t be as robust and well-tested as sales forecasting software models. Users can also adjust the models the software uses to tweak predictions and make them more accurate over time.