11 Sales Forecasting Software for Revenue Leaders

11 Sales Forecasting Software for Revenue Leaders

Accurate forecasting is one of the most important — and challenging— aspects of running a sales team. There are many methods to forecasting sales and the time spent compiling these projections can often be overwhelming and tedious. However, automating the process can help create a more organized, thorough, and smoother system — leading to better accuracy and consistency overall. There are many reasons why sales forecasting software should be integrated into your organization.

Benefits of Sales Forecasting Software

More accurate data

Automation eliminates the human error component of estimations. It also enforces consistency and notices trends over time, which improves accuracy with each forecasting report.

Streamline reporting

Instead of manually pulling data from multiple locations, the software automatically creates a centralized reporting system. This also means there is less time spent on collecting the information needed for every type of projection.

Calculate projections

Software offers more complex capabilities when it comes to forecasting — it’s able to seamlessly calculate projections based on historical data, pipeline information, and individual rep statistics in a few quick clicks.

Cross-departmental visibility

Having automated, centralized software increases the visibility for multiple departments. Since forecasting has an impact on business-wide decisions, this transparency is enormously helpful for consistent clarity.

In this article, we’ll list some of the characteristics to look for in your sales forecasting software, as well as a list of some of the top tools available on the market.

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What to Look for in Sales Forecasting Software

Simply, sales forecasting automation evaluates multiple data sets to produce accurate reporting for expected future sales. Here are some additional questions to ask when choosing your sales forecast tools:

Does this match our forecasting system?

Each sales team will have their own forecasting plan and method based on company-specific information like the growth stage of the business, the size of the team, and the type of industry. The software you choose should partner seamlessly with the method and framework that already exists within your sales organization.

Does it compare performance vs expectations?

Software should be able to integrate past historical data, current pipeline information and team-specific statistics in order to export accurate estimations. Having the ability to granularly compare performance and sales expectations helps to improve accuracy and acknowledge areas for team growth.

Does it allow for customizable revenue projections?

Customizability is an integral component to incorporating automation software. You will want the flexibility to pull reports by specific filters like account, salesperson, team, and region (depending on the sales structure setup of your team).

Does it have additional resources?

Automation should streamline and simplify the forecasting process, which means it should also offer additional easy-to-use resources. These can include built-in templates, plan building assistance, or any other helpful assets that will make forecasting a breeze.

Popular Sales Forecasting Software

There are a number of forecasting programs on the market, so you will certainly be able to find the perfect fit for your unique sales process. Here are a few of the popular sales forecast tools available:

Clari: sales forecasting software

Clari

Clari is a revenue operations platform that specializes in predictive sales analytics for multipurpose forecasting. Its main focus is on the accuracy and acceleration of sales goals. By combining AI-based execution insights and intelligence data, this software ensures reporting remains consistent — giving sales leaders the confidence to land within 4% of their forecast.

Key forecasting features:

  • AI-based predictive projection capabilities
  • Transparent, visible, and uniform forecasting system for cross-visibility
  • Seamless adaptation to unique sales processes

Cost:

  • Pricing available upon request

Gong

Gong

Gong is a renowned, multipurpose software option for many sales teams. When it comes to their forecasting capabilities specifically, it’s easy to see why! This product includes what it refers to as “Superhuman Accuracy” — incorporating AI-based insights from every moment of customer contact for a detailed understanding of their closing potential. Gong also has a real-time, centralized forecasting screen for easy visibility and organization.

Key forecasting features:

  • Customer-based insights for precise forecasting and predictive behaviour
  • AI-based algorithms of client communications for in-depth analysis
  • Identifies pipeline risks to accurately forecast and enhance proactivity

Cost:

  • Pricing available upon request

Salesforce

Salesforce Sales Cloud

Salesforce and their Sales Cloud forecasting tool is one of the leading platforms on the market. This software includes a comprehensive view of the pipeline and forecast, all without having to switch between your CRM database. It also offers the ability to create KPI-tailored forecasts so you can customize based on the specifics of your product and industry.

Key forecasting features:

  • Multiple integration offerings for easy transitions
  • Real-time visibility and adjustments for flexible forecasts
  • Quick filters and automatic status updates for more pipeline accuracy

Cost:

  • Free 30-day trial available, then multiple tiers available starting at $25/user/month.

Salesmate: Sales Forecasting Software

Salesmate

Salesmate offers a clear and concise view of the sales cycle. This streamline setup allows managers to export forecasts based on the sales rep, team, specified periods, or pipeline. Salesmate also helps to identify the top sales performers for trend insights, as well as quickly analyze shortages within the pipeline.

Key forecasting features:

  • Simplifies the sales cycle with a clean and user-friendly interface
  • Quickly identifies pipeline blocks to increase revenue
  • Combines historical sales data and predictive pipeline analytics

Cost:

  • Free 15-day trial, then multiple tiers available starting at $15/user/month (or $12/user/month if billed annually).

Pipedrive

Pipedrive

Pipedrive is an automated software that can be used throughout the entire sales cycle, but when it comes to forecasting, this product acts like a personalized sales leader. This software allows both sales managers and sales reps to access their forecasts for more transparency and clarity. Additionally, it uses intelligence to suggest which accounts to focus on for a higher chance of closing the sale.

Key forecasting features:

  • Customizable forecast view options
  • Deal stage comparison layout for easy insights
  • Recommended activities for better close potential

Cost:

  • Free 14-day trial, then multiple tiers available starting at $18/user/month (or $12.50/user/month if billed annually).

Prohix: Sales Forecasting Software

Prophix

Prophix is a Corporate Performance Management (CPM) software that automates the forecasting process by using their Virtual Financial Analyst feature. This tool incorporates a centralized business logic system, which means your company’s specific requirements are consistently applied to the analytical process. This allows for more accurate predictability through steady diagnosis and reporting.

Key forecasting features:

  • Collaborative across teams with the centralized application process
  • Pulls data from multiple sources for the more granular forecast
  • Flexibility with pacing — rolling, multi-year, and daily forecast options

Cost:

  • Free trial available, then pricing upon request.

Oracle: Sales Forecasting Software

Oracle CX Sales

This particular sales forecasting software is part of the larger Oracle product offering. The Oracle program includes predictive planning and flexible modeling tools for quota setting, as well as flexibility for either a bottom-up or top-down forecasting approach. This product also includes proactive investigative resources, like detailed revenue models and what-if analysis tools for even more forecasting comprehension.

Key forecasting features:

  • Advanced forecasting algorithms offers granular statistical estimations
  • Customizable measurements, workflow navigation, and dashboard options
  • Evolving forecast trend reporting and what-if analysis resources

Cost:

  • Pricing available upon request.

Capsule: Sales Forecasting Software

Capsule

Capsule is a software that is packed with automated tools for complete control over the sales process. When it comes to their forecasting capabilities, this product features a sales analytics tool that creates five pipeline forecasting reports — an overall pipeline forecast, then pipeline reports by milestone, growth, owner, and team. Capsule also offers the ability to track individual sales activity for deeper insights.

Key forecasting features:

  • Clean, easy-to-use interface
  • Integration with Google Data Studio
  • Reports for average sales cycle length and sale value for the sharper forecast

Cost:

  • Free 30-day trial (for specific tiers only), then multiple tiers available from $18/user/month. Pay as you go service.

Vena: Sales Forecasting Software

Vena

Vena is a total sales planning platform and uses their own growth engine technology to help companies increase their revenue. This technology allows companies to accelerate their forecasting process through real-time, long-term reports that can be created in just a few minutes. In addition, Vena’s software works with a team’s existing forecast plan process for an even smoother system.

Key forecasting features:

  • Leverage existing spreadsheets from Excel for seamless integration
  • Long-term growth planning with daily status tracking options
  • Real time insights and agility through reporting

Cost:

  • Pricing available upon request.

Planful: Sales Forecasting Software

Planful

This financial planning and analysis software focuses on generating thorough and insightful reporting to create more structured sales intelligence. Planful includes easy data integration as well as dynamic planning models that can be tailored to fit any use-cases. In addition, this platform includes a breakback feature, which makes it easy to incorporate top-down adjustments to multiple forecasting models in a few easy clicks.

Key forecasting features:

  • Large library of reporting and delivery format options
  • Cloud-based platform with data integration and offline planning abilities
  • Pre-built planning templates and self-service dashboards

Cost:

  • Pricing available upon request.

Insightsquared: Sales Forecasting Software

Insightsquared

Insightsquared is a full-funnel revenue analytics and forecasting platform that aims to increase accountability for sales teams. This software utilizes interactive reporting by combining the customer’s progression through the funnel with the team’s sales goals — this aids in identifying any forecasting risks, changes, or exceptions. This platform also uses AI-based analytics to validate manually entered data for a more unbiased view of projections.

Key forecasting features:

  • Real-time automated dashboards for consistent visibility
  • Breaks down forecasts by customizable segments
  • Forecast summary reports for more accuracy and understanding

Cost:

  • Free trial available, the pricing upon request.

Sales forecasting has a profound impact on your team’s performance. Automating the process helps increase accuracy and growth while simultaneously improving your sales forecasting plan with more complex and robust features. Be sure to research the best sales forecasting software for you and your reps— ensuring it has the right integrations and characteristics to streamline your existing framework and fully support your team.

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