Sales forecasting and reporting made simple
by Blytheco on Apr 30, 2012
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A well-adopted and open CRM system captures this baseline data and provides the opportunity to run more sophisticated analysis, either in excel or in BI tools. ...
A well-adopted and open CRM system captures this baseline data and provides the opportunity to run more sophisticated analysis, either in excel or in BI tools.
According to Ventana Research “spreadsheets are used in 93 percent of sales organizations and almost half (49%) state reliance on them makes it difficult to manage sales efficiently.”
SugarCRM makes it easy for sales people to convert leads to opportunities and provides businesses with a totally customizable pipeline view, so that the stages make sense and accurately reflect the close probability
How many folks here would classify their business as B2B? (If many, then get into date versus dollar)
So, what’s more important for a deal, the dollar or the date?
Let’s say you have a 60-day sales cycle. A lead converts to an opportunity today and the rep pegs the close date at June 17 and they think it’s a $25K deal, let’s say. Let’s consider a 30% error in each of these two deal dimensions, If the deal comes in on time, but for 30% less, that’s a $7.5k hit to your Q2 number off forecast. If there’s a 30% slip in the timing, that’s a $25K hit to your Q2 number, as the deal will move to July.
A CRM tool alone won’t nail this problem, but it provides the baseline data to attack it.
The rest depends on a solid process, and there are several out there. One of the most popular is the Miller Heiman Funnel Scorecard.
Once you have confidence in the integrity of your CRM data, you can rely on it to calculate pipeline velocity (# of deals * Win Rate * Avg. Deal Size)/Average Selling Time in Days.
SugarCRM’s openness is a real asset when it comes to moving past excel and into more sophisticated analysis (Open web browser and show jasper and good data)
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