Netsuite CRM - Sales Forecasting for its Users
Running a business is like navigating a ship in choppy waters. You don't know what to expect next. Good businessmen, like good ship captains, keep their eyes firmly on the horizon for stormy clouds gathering. At the first hint of storm they look to secure the ship's cargo and take their men to safety. If the journey is going to be long they make sure to stock food and water to last the journey.
Why do you need sales forecasting?
In business it is equally important to keep eyes firmly fixed on the horizon for warning signs. Sales forecasting uses historical information and extrapolates into the future using advanced mathematical modeling and reporting. It is a very tricky function because there are numerous factors affecting sales – recession, new emerging customer trends, new products and services, new fashions, competition and so on. There are several tools that can help you forecast sales but none with the breadth and scale provided by Netsuite CRM.
Without adequate sales forecasting it is very difficult to steer clear of the pitfalls that will come your way. Business opportunities could be lost due to your failure to ramp up production during peak sales period. Or you could easily end up with a lot of excess inventory during the lean season and risk putting your business in red.
The Netsuite CRM advantage
Netsuite CRM provides the most advanced forecasting platform for today's generation of business managers who understand the importance of business intelligence as well as predictive forecasting in the fast changing business environment of today. Netsuite CRM is the only CRM platform using actual sales data to draw forecasts for the future. Using Netsuite Forecasting, businesses can categorize transactions as low, commit or upside. Netsuite Users have the flexibility of choosing any other methodology for naming opportunities. It also provides checks and balances for effective monitoring of actual sales data against forecasted data.
Netsuite CRM allows businesses to measure actual sales data against forecasted sales data and thus help in improving the reporting process. Probability based forecasting helps in understanding pending opportunities, quotes and orders and providing the necessary tools for making the adjustments as the deal progresses.
Netsuite CRM Benefits
Improves inventory keeping Betters sales forecasting means no need carry useless inventory during lean seasons. You can increase decrease inventory depending upon the season. For example, certain goods sell well before the beginning of festival season while some sell well before the coming of summer season. Identifying the lean and peak season is important for maintaining your inventory levels within adequate levels.
Variable manpower requirements You can adjust your manpower requirements according to forecasting trends. If the demand is heavy you can increase your manpower by contracting from the market. This keeps your workforce lean saving you thousands of dollars in wages every month.
Benefit for Netsuite Users
Since Netsuite CRM is based on SaaS platform no upfront payments are required. Services are provided on a managed basis which means the provider will handle the day to day running of the platform.
Netsuite Users have nothing to lose but everything to gain by transferring their systems to Netsuite CRM which provides sales forecasting of the highest order. Inspirria cloudtech understands the importance of forecasting accurately in today's dynamic environment and suggests Netsuite CRM for your business.