It’s that time of year again, and whether you’ve hit your end of year sales targets or not, there’s always room for improvement. To be able to boost revenue, you need to be able to track and predict progress while there’s still time to change course.
That’s where Pipedrive’s Revenue Forecasting features come in handy.
Using Pipedrive to track, forecast, and boost revenue
There’s something for everyone when it comes to our handy forecasting tools. Depending on your plan, you’ll be able to take full or partial advantage of Pipedrive’s ability to track your future progress based on your current results.
Revenue forecasting as a Silver or Gold user
Setting realistic yet ambitious revenue targets is an important part of being a great sales manager. That is why Pipedrive’s forecasting features aim for a simplified view of data that is as accurate as possible.
Ensure accuracy with stage and deal-specific probability
While it’s easy to factor revenue from won deals into your forecasts, it’s trickier to account for deals that are not quite there yet. This shouldn’t keep you from estimating your current progress towards your goal, which is why we incorporate probabilities to make this calculation.
Deal-specific probability is based on the likelihood of that deal being closed, and adjusts your revenue based on this percentage. Stage probability factors in how likely deals will be closed based on where they are in your pipeline, and is applied to deals without deal-specific probability set.
Note that for deals with both probabilities in effect, deal-specific probability is used instead, since it’s the most accurate statistic when forecasting your revenue. This makes the end result a tailored forecast on the unique probabilities determined by your own expert insights.
A simple yet informative forecast view
Pipedrive doesn’t do complex spreadsheets and frilly graphs, and our forecast view cuts to the core of your data.
By showing you exactly how far along your deals are, you can compare real-time progress with the expected close date you configure. The drag and drop style makes it easy to point out which deal close dates need adjusting, making your projections as accurate as possible.
When setting stage probability, deal-specific probability, or expected close dates make sure you are as conservative as possible. Being overly optimistic when it comes to numbers, although great when selling, is a recipe for disappointment. See more pro forecasting tips here.
The new revenue forecast features for Platinum users
In addition to all the cool features on the Silver and Gold plans, Platinum users get some extra revenue forecasting tools such as advanced reporting and a nifty widget to add to their statistics dashboard.
The benefits of revenue forecasting reports
Reporting may not be the flashiest part of sales, but it’s a necessary evil if you want to have a clear view of where you’re headed financially and, most importantly, be able to change course if needed.
In Pipedrive, revenue forecasting reports take into account the deals won and open deals. The contribution of open deals to the cumulative revenue is adjusted based on deal probability, which we covered earlier, making the predictions clear and accurate.
The more accurate your probabilities are, the more accurate your forecasts will be. It all starts with understanding and estimating your team’s ability to close, and using that knowledge to realize their full potential.
Introducing the all-new revenue forecasting dashboard widget
As a Platinum user, you can also add a revenue forecasting widget to your statistics dashboard for an even quicker way monitor your goal progress. Keep an eye on your current status, and compare it to the goal of your period in a single, simplified widget view.