In two previous posts, I discussed the need for a bookings and a revenue forecast and how to create those two types of forecast. But sometimes the easiest way to learn about something is to hear how others are doing it.
So, here are a few real-life examples of companies driving their business on a bookings forecast and a revenue forecast. (more…)
I recently blogged on the need for both a bookings forecast and a revenue forecast. Now that we understand the difference and need for both types of sales forecasts, let’s talk about how to create them. While every organization is different in how they utilize bookings and revenue terms, here are a few steps you can follow to ensure you don’t miss anything critical.
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Why do we forecast? So that a VP of Sales can yell at his team to produce more?
Actually, no.
For most organizations, sales forecasting is a time-consuming painful process that results in very little value. As stated in a blog I recently read, the typical process goes something like: