Table of contents
- What is Sales Forecasting?
- Benefits of Sales Forecasting
- Example of Sales Forecasting
- What Are Sales Forecasting Tools?
- 12 Best Sales Forecasting Software for Businesses
Do you know the secret to staying ahead of your competitors in sales? Accurate sales predictions!
Imagine knowing your sales numbers for the next quarter. Sales forecasting software can turn this into reality.
These tools give you precise estimates of future sales, helping you make smart decisions and improve your strategies.
Here’s a key insight –
- 97% of companies with accurate forecasting hit their sales goals
- Only 55% of those without accurate forecasting do
Confused by the many sales forecasting tools available online? We’re here to help.
In this article, we’ll introduce you to the top 12 best sales forecasting software to keep your sales on track.
Let’s find the best software for sales forecasting!
What is Sales Forecasting?
Source: Canva
Gartner defines sales forecast as –
A projection of future sales revenue and a prediction of which deals will move through the sales cycle.
So basically, sales forecasting is the process of estimating future sales revenue for a specific period, such as a month, quarter, or year.
This involves analyzing historical sales data, market trends, and current business conditions to predict how much of a product or service will be sold.
Related: Mastering Sales Forecasting: Methods, Examples, and Best Practices
Benefits of Sales Forecasting
Here are some key benefits of sales forecasting:
- Improves inventory management: Ensures you have the right amount of stock.
- Enhances budget planning: Helps allocate resources effectively.
- Boosts sales strategies: Informs better sales tactics and targets.
- Reduces risks: Minimizes unexpected shortfalls or surpluses.
- Increases efficiency: Streamlines operations and resource allocation.
- Strengthens decision-making: Provides data-driven insights for strategic planning.
- Optimizes staffing: Aligns workforce needs with expected demand.
- Improves customer satisfaction: Ensures timely delivery of products/services.
- Drives revenue growth: Identifies opportunities for sales increases.
- Supports financial health: Helps maintain cash flow and profitability.
By understanding potential future sales – you can better navigate challenges and seize growth opportunities.
Example of Sales Forecasting
Sales forecasting for a B2B software company might look like this:
- Last year, your company sold an average of 50 software licenses per month.
- Recently, you launched a new marketing campaign and received positive feedback.
- Additionally, the industry is growing at a rate of 10% annually.
- Based on these factors, you forecast that you will sell 60 licenses per month in the upcoming quarter.
This prediction helps you plan your production, allocate your marketing budget, and set sales targets.
Related: AI in Sales Forecasting: Uses, Benefits & Best Practices
What Are Sales Forecasting Tools?
Sales forecasting tools are software applications designed to predict future sales based on –
- Historical data
- Past sales performance
- Customer behavior
- Market trends
- Economic conditions
- Industry trends
- And other relevant factors
By using statistical algorithms and data analytics, sales forecasting tools help businesses anticipate demand, set achievable sales targets, and allocate resources effectively.
Ultimately, these tools help businesses to plan and execute sales strategies more effectively, improving overall efficiency and profitability.
Related: Sales Forecasting: A Smart Methodology Reimagining
12 Best Sales Forecasting Software for Businesses
Did you know? Companies with accurate forecasts are 10% more likely to grow their revenue each year and twice as likely to be leaders in their industry.
Here are the top 12 best sales forecasting software for businesses. You can conduct sales forecasting software comparisons to choose the one that fits your business requirements.
| Tool | G2 Rating | Best For | Pricing |
| Goodmeetings | 4.7 | B2B and Remote Sales Teams | Custom pricing |
| Pipedrive | 4.3 | Pipeline Management and Forecasting | Starting at $12/month |
| Anaplan | 4.6 | Sales Planning and Forecasting | Custom pricing |
| SPOTIO | 4.5 | Sales Engagement, Tracking, and Forecasting | Custom pricing |
| Mediafly | 4.4 | Sales Intelligence, Forecasting, and Analytics | Custom pricing |
| Gong.io | 4.7 | Revenue Intelligence and Sales Forecasting | Custom pricing |
| Zendesk | 4.2 | Sales CRM, Forecasting, and Pipeline Visibility | Starting at $19/month |
| Salesforce | 4.3 | Sales Automation, Intelligence, and Forecasting | Starting at $25/month |
| Clari | 4.5 | Sales Forecasting and Pipeline Management | Custom pricing |
| Aviso | 4.4 | Accurate Predictive Sales Forecasting | Custom pricing |
| HubSpot | 4.4 | Sales Prospecting, Analytics, and Forecasting | Starting at $15/month, |
| Salesken | 5 | Revenue Insights, Forecasting, and Sales Productivity | Custom pricing |
1. Goodmeetings
G2 Rating: 4.7 out of 5 (71 Reviews)
Best For: B2B and Remote Sales Teams
Source: Goodmeetings
Goodmeetings is not your typical sales forecasting software; it is a sales conversational intelligence platform with analytics and prediction capabilities. If you are into B2B sales and your sales team is working remotely, Goodmeetings can help improve your overall productivity and profitability.
By using AI-driven tools for post-call recordings, transcriptions, and call analytics, Goodmeetings provides deep insights into sales performance. It maintains a record of all your sales conversations and analyzes them to forecast deal closure and success rates. With Goodmeetings you can increase the accuracy of sales win/loss predictions by 45%.
Moreover, it offers a customizable dashboard to help you track everything from – the sales rep’s performance to the competitor’s performance. And you can easily integrate popular CRMs and sales tools to streamline the whole forecasting process.
Source: Goodmeetings
Features
- Call Recording: AI-driven technology captures every sales interaction to make accurate predictions.
- Win/loss Predictions: Helps to make accurate win/loss predictions.
- High-Quality Transcriptions: Converts conversations into searchable text for analytics.
- Call Analytics: Provides metrics to identify sales trends, improvement areas and future sales.
- Multi-language Support: Ensures clear communication across global markets.
- Video Meeting Library: Archives meetings for training and review.
- Automated Action Items: Organizes follow-up tasks automatically.
- Human-level Summaries: Offers concise meeting summaries to get insights.
- Meeting Performance Insights: Analyzes meeting effectiveness and engagement.
- Market Intelligence: Analyzes market trends and data for accurate forecasting.
- Competitor Performance Dashboard: Tracks competitor performance metrics.
- People Intelligence: Assesses sales rep performance.
- Customized Reporting Dashboards: Personalizes data views for forecasting & decision-making.
- Deep CRM Integration: Connects meeting insights with your CRM to help with forecasting.
- AI-generated Key Moments: Highlights critical points in meetings.
- Coaching: Provides live incognito coaching and battlecards to help sales reps.
- ‘Ask me anything’ on meetings: Delivers instant answers from past interactions.
- Sentiment Analytics: Decodes client reactions for better engagement.
- Screenshare Analytics: Tracks engagement during presentations.
- Security: Data encryption, Google authorization, GDPR readiness, and SOC compliance.
Pricing
- Goodmeetings offers two pricing plans – Professional and Business.
- Contact the sales team to request a quote.
Reviews
Source: Goodmeetings
Source: Goodmeetings
You can also try Goodmeetings for free with a 7-day free trial offer or request a free demo to see how the tool works.
Make Accurate Sales Predictions With Goodmeetings!
Related: Getting Started with the Goodmeetings Notetaker
2. Pipedrive
G2 Rating: 4.3 out of 5 (1,874 Reviews)
Best For: Pipeline Management and Forecasting
Source: Pipedrive
Pipedrive is a well-known sales CRM and pipeline management software with forecasting capabilities. It offers a customizable Forecast View that you can regularly check for quick adjustments and planning.
With higher-paid plans, you will also get the Insights Revenue Forecast tool that helps you predict future revenue. The best thing about Pipedrive is its wide range of integrations with other business tools.
Features
- Dashboard functionality
- Predictive sales analytics
- Sales trend analysis
- Sales pipeline management
- Insights and reports
- Sales automation
- Integrates with more than 400 tools
Pricing
- Essential: $12 per month (billed annually)
- Advanced: $24 per month (billed annually)
- Professional: $49 per month (billed annually)
- Power: $59 per month (billed annually)
- Enterprise: $79 per month (billed annually)
A 14-day free trial is available with all paid plans. You can try this sales forecasting software for free.
Related: How Does Emotional Intelligence Help in Closing More Deals?
3. Anaplan
G2 Rating: 4.6 out of 5 (348 Reviews)
Best For: Sales Planning and Forecasting
Source: Anaplan
Anaplan is a comprehensive tool for planning and sales forecasting that helps businesses manage their performance. It brings together data from different systems, tracking sales pipelines and forecasts in real time.
The software uses predictive analytics to help businesses find growth opportunities and use resources effectively. Anaplan also has easy-to-read dashboards that show performance quickly, helping users make decisions faster.
Features
- Ad hoc analysis and reporting capabilities
- Dashboard for quick insights
- KPI monitoring
- Mobile access
- Qualitative and quantitative analysis features
Pricing
It offers custom pricing
Related: 12 Best Sales Analytics Software To Measure Sales Performance
4. SPOTIO
G2 Rating: 4.5 out of 5 (348 Reviews)
Best For: Sales Engagement, Tracking and Forecasting
Source: Spotio
Spotio is a sales engagement platform designed for B2B and B2C sales teams. It offers sales pipeline management and tracking features to predict future sales. With Spotio, you will get an accurate picture of your sales performance which is very important for forecasting.
Moreover, it also simplifies lead management with route planning and mapping, which aids in accurate sales forecasting. Spotio also provides real-time location and activity tracking features to boost your overall sales process.
Features
- Sales tracking
- Sales pipeline visibility
- Executive insights
- Custom reporting dashboards
- Territory mapping
- Task automation
Pricing
It offers custom pricing
Related: Sales Analytics 101: Definition, Tools and Metrics
5. Mediafly (InsightSquared)
G2 Rating: 4.4 out of 5 (1,328 Reviews)
Best For: Sales Intelligence, Forecasting and Analytics
Source: Mediafly
InsightSquared is now acquired by Mediafly. It is an advanced revenue intelligence and forecasting software offering accurate data to make better business decisions. It replaces spreadsheets to simplify prediction-making.
With this software, you can create detailed reports by product, region, or business line, and view data from any period to understand buying trends. Mediafly offers real-time data and insights to manage your entire business cycle.
Features
- AI-based forecasting
- Ad hoc reporting
- Full funnel analytics
- Data visualization
- Pipeline management
- Reporting and analytics
- Conversational intelligence
Pricing
It offers custom pricing
Related: AI Sales Cold Calling – Benefits, Use Cases, Tools and Best Practices
6. Gong.io
G2 Rating: 4.7 out of 5 (5,735 Reviews)
Best For: Revenue Intelligence and Sales Forecasting
Source: Gong
Gong.io‘s sales forecasting software for business gathers data from various sources like – emails, calls, and other client interactions. It then uses AI to analyze data and forecast future sales. You will get a clear view of the sales pipeline to track everything.
Gong can also help you track each deal’s progress and make predictions. It helps identify risks – such as stalled deals or budget discussions. This allows you to adjust your forecasts accordingly.
Features
- AI forecast projections
- Reporting and analytic
- Predictive forecasting
- Dashboard for tracking
- Deal likelihood scores
- Conversation intelligence
- Pipeline inspection
Pricing
The pricing depends on your business needs
Related: Gong Alternatives: Gong Competitors You Must Consider in 2024
7. Zendesk
G2 Rating: 4.2 out of 5 (483 Reviews)
Best For: Sales CRM, Forecasting and Pipeline Visibility
Source: Zendesk
Zendesk Sell is a modern sales CRM that helps businesses increase revenue through accurate forecasting and real-time pipeline management. It offers features for data-driven decision-making, allowing sales teams to track, manage, and analyze sales processes efficiently.
You can predict deal outcomes and close dates using historical data, review sales sources, access activity reports, analyze performance metrics, and create custom forecast reports. The tool’s intuitive dashboards and reports save time and provide quick insights into sales projections.
Features
- Advanced reporting and analytics
- Pipeline analysis
- Win probability forecasting
- Custom forecast reports
- Pre-built deals dashboard
- Activity reporting and performance metrics
Pricing
- Sell Team: $19 per month (billed annually)
- Sell Growth: $55 per month (billed annually)
- Sell Professional: $115 per month (billed annually)
Related: 15 Best Sales Automation Tools to Boost Your Revenue in 2024
8. Salesforce
G2 Rating: 4.3 out of 5 (20,272 Reviews)
Best For: Sales Automation, Intelligence and Forecasting
Source: Salesforce
Salesforce Sales Cloud is a CRM software that helps sales teams handle customer interactions and monitor deals from start to finish. Its forecasting software tracks important metrics like – sales pipeline, growth patterns, and customer groups.
With features like pipeline inspection, deal and customer insights, AI-powered predictions and recommendations you can make better business decisions. What’s best is that Salesforce Sales Cloud integrates with other Salesforce tools, helping you manage your entire sales process with just one platform.
Features
- Sales analytics and forecasting
- Pipeline inspection and management
- Sales activity tracking
- Sales task automation
- Actionable forecast view
- Revenue intelligence
- Reporting dashboards
Pricing
- Starter Suite: $25 per month (billed annually)
- Pro Suite: $100 per month (billed annually)
- Enterprise: $165 per month (billed annually)
- Unlimited: $330 per month (billed annually)
- Einstein 1 Sales: $500 per month (billed annually)
Related: 15 Best AI Sales Tools & Software [2024]
9. Clari
G2 Rating: 4.5 out of 5 (1,729 Reviews)
Best For: Sales Forecasting and Pipeline Management
Source: Clari
Clari is an advanced forecasting tool that gives you a complete and accurate view of your future sales. It is designed for B2B sales leaders aiming to speed up sales cycles and improve forecasting accuracy.
The software provides real-time visualizations of revenue health indicators and uses predictive analytics to offer insights. Moreover, it also offers features for pipeline analysis, CRM automation, and revenue intelligence.
Features
- Flexible forecasting
- Predictive analytics
- Dynamic modeling
- Statistical analysis
- Graphic data presentation
- Forecasting dashboard
Pricing
It offers custom pricing
Related: What is Sales Acceleration? – Tools and Tactics Included
10. Aviso
G2 Rating: 4.4 out of 5 (755 Reviews)
Best For: Accurate Predictive Sales Forecasting
Source: Aviso
Aviso is an AI-driven sales forecasting software known for its 98% accuracy. It combines human judgment + powerful predictive AI for precise sales forecasts. The tool also offers solutions for advanced revenue operations and remote sales communication. While Aviso improves your tech toolkit, it doesn’t include CRM features. This can cause alignment issues if not already integrated.
Features
- Forecasting AI capabilities
- Graphic data presentation
- Predicts analysis
- WinScore insights
- Conversational intelligence
- Revenue forecasting
- Deal & pipeline inspection
Pricing
It offers custom pricing
Related: 20 Sales Productivity Tools To Boost Your Sales in 2024
11. HubSpot
G2 Rating: 4.4 out of 5 (11,345 Reviews)
Best For: Sales Prospecting, Analytics and Forecasting
Source: HubSpot
HubSpot is an all-in-one platform for sales, marketing, and customer service. With HubSpot Sales, you will get wide range of tools for sales automation, prospecting, analytics and forecasting. You can use the forecasting tool to predict sales and revenue as well as analyze customer behavior trends.
HubSpot’s sales forecasting software also allows sales reps to create custom models, helping them understand and anticipate customer buying patterns.
Features
- Timely business forecasts
- Customizable forecast categories and models
- Forecast across multiple pipelines
- Reporting and analytics
- Custom forecasting models
- Automate workflow processes
Pricing
- Starter: $15 per month (billed annually)
- Professional: $90 per month (billed annually)
- Enterprise: $150 per month (billed annually)
You will get many free sales tools as well.
Related: 10 B2B Sales Prospecting Tools in the Market
12. Salesken
G2 G2 Rating: 5 out of 5 (380 Reviews)
Best For: Revenue Insights, Forecasting and Sales Productivity
Source: Salesken
Salesken is an AI sales assistant and revenue intelligence platform that helps you gain insights and accurately predict future sales. It helps teams monitor their sales pipeline and understand customer intent.
The tool provides actionable revenue insights, accurate pipeline forecasting, and analysis of revenue trends. It offers detailed deal insights, tracks leads to progress at every stage and helps close deals faster with quick summaries.
Features
- Accurate pipeline forecasting
- Analyze revenue trends
- Track lead progress at every stage
- Understand target markets
- Track the entire sales pipeline
Pricing
It offers custom pricing
Related: 7 Best Sales Coaching Tools You Cannot Miss Out On
Why is Sales Forecasting Software Important for Your Business?
Research shows that 79% of sales teams miss their sales forecasts by more than 10%.
That’s why – businesses should use advanced sales forecasting software for better accuracy. Here are some reasons why you should use these tools.
1. Planning
Sales forecasting software for business allows you to plan ahead by estimating how much of your product or service you will sell in the coming weeks or months. This helps in preparing production schedules, staffing needs, and marketing campaigns.
2. Resource Management
By predicting sales, the software helps ensure that you have enough inventory on hand to meet customer demand without overstocking. It also helps in scheduling staff effectively to handle anticipated sales volumes.
3. Decision Making
With insights from sales forecasts, you can make informed decisions about pricing, promotions, and product launches. You can adjust strategies based on predicted sales trends to maximize revenue.
4. Financial Stability
Accurate sales forecasts contribute to stable cash flow management. You can budget effectively, knowing how much revenue to expect and when, which helps in managing expenses and investments.
5. Growth
Sales forecasting software identifies growth opportunities by highlighting trends in customer behavior and market demand. It allows you to capitalize on these opportunities and expand your market share while minimizing the risks associated with uncertain sales projections.
Related: Sales Intelligence 101 – Definition, Tools and Best Practices
Features to Look for in Sales Forecasting Software
The need for sales forecasting software has increased over the last few years. But you cannot just pick any tool. y tool.
When choosing the best software for sales forecasting, here are some important features you need to look for:
1. Ease of Use
The software should be easy to use, with a user-friendly interface that doesn’t require extensive training. Your team should be able to navigate it intuitively.
2. Accuracy
Look for software that provides reliable predictions based on historical data and current trends. You need forecasts that you can trust for making informed decisions.
3. Pipeline Overview
Make sure the software gives a clear view of your sales pipeline. It should help you track where deals are and understand the likelihood of their progress and closure.
4. Integration
Choose software that seamlessly integrates with your existing tools and systems. This integration should streamline workflows and data management.
5. Import Internal Sales Data
Ensure the software allows you to easily upload your existing sales data. This feature centralizes all your information for accurate and comprehensive forecasting.
6. Track Progress Against Sales Goals
The software should help you monitor your team’s progress towards sales targets. This tracking aids in identifying areas for improvement and recognizing achievements.
7. Generate Revenue Projections
The tool should be capable of creating estimates of future revenue based on current sales activities and trends. This feature is essential for strategic planning and decision-making.
8. Dynamic Forecasting
The software should update forecasts in real time as new data comes in. This ensures that your predictions reflect changes in the market or sales environment.
9. Customizable Visual Reports
The tool should offer access to customizable visual reports that fit your specific needs. These reports should make data analysis easier and improve communication within your team or with stakeholders.
10. Customizable Sales Dashboard
You should be able to customize the dashboard to prioritize key metrics. A customizable interface empowers your team with clear insights to drive sales and strategy effectively.
11. Forecasting Methods
Choose software that supports various forecasting methods. This flexibility helps in addressing different aspects of your sales process and business needs.
12. Collaboration
Make sure the software supports collaboration features like shared data access and commenting. These features enhance teamwork and overall productivity among your sales team.
13. Scalability
The software should be able to grow with your business. It should handle increased data volume and user needs as your sales operations expand.
14. Security
Choose a software that offers robust security measures. These measures should protect your sales data from unauthorized access and ensure compliance with data protection regulations.
Related: 10 Best Sales Intelligence Software For 2024
FAQs
1. What are the Methods of Sales Forecasting?
Sales forecasting methods include qualitative and quantitative approaches.
- Qualitative approaches to sales forecasting rely on expert opinions and market research, using intuition and experience.
- Quantitative approaches use numerical data and statistical methods, like analyzing past sales figures and trends, to make predictions.
2. Who is Responsible for Sales Forecasting?
Sales forecasting is typically the responsibility of the sales manager, who works closely with the sales team to gather data and insights. Other key contributors can include –
- Marketing teams
- Financial analysts
- Senior management
Together, they analyze market trends, customer behavior, and sales data to predict future sales and guide business strategy.
3. What are the Three Main Sales Forecasting Techniques?
The three main sales forecasting techniques are:
- Historical Sales Data Analysis: Uses past sales data to predict future sales trends. By examining patterns and trends from previous sales, businesses can estimate future performance.
- Market Research: Gathers insights from surveys, focus groups, and expert opinions. This method relies on understanding market conditions, customer preferences, and competitor actions to forecast sales.
- Pipeline Forecasting: Analyzes the current sales pipeline to predict future sales. It considers the number and stage of deals in progress, helping estimate the likelihood of closing each deal.
Related: How to Use Generative AI for Sales Success
4. How Does a Sales Forecasting Software Work?
Sales forecasting software works by collecting and analyzing sales data from various sources. It uses algorithms to identify patterns and trends, allowing businesses to predict future sales.
The software updates forecasts in real-time with new data, providing accurate insights for decision-making and strategic planning.
5. What are the Most Common Sales Forecasting Mistakes?
Common sales forecasting mistakes include:
- Overestimating Sales: Being overly optimistic about future sales can lead to unrealistic targets and poor resource allocation.
- Ignoring Market Changes: Failing to account for shifts in the market, competition, or customer behavior can result in inaccurate forecasts.
- Inconsistent Data Entry: Inaccurate or incomplete data entry can skew forecasts, making them unreliable.
- Relying Solely on Historical Data: Not considering current trends or future potential can make forecasts less relevant.
- Lack of Collaboration: Not involving all relevant departments in the forecasting process can lead to incomplete insights.
- Neglecting to Update Forecasts: Failing to revise forecasts as new data becomes available can lead to outdated and incorrect predictions.
6. What are the Main Types of Sales Forecasting Tools?
The main types of sales forecasting software include:
- Sales Pipeline Forecasting Software: Specifically analyzes current sales pipeline data to predict future sales based on deal stages and probabilities.
- Historical Sales Forecasting Software: Uses past sales data to identify patterns and trends for predicting future sales performance.
- CRM Software: Tracks customer interactions and sales pipeline stages, providing data for forecasting.
- Business Intelligence (BI) Tools: Analyzes large datasets to uncover insights and trends relevant to sales forecasting.
- Predictive Analytics Software: Utilizes statistical methods and machine learning to forecast future sales based on historical data and current market conditions.
Wrapping Up
So, these are the top 12 best sales forecasting software. Each offers unique features, from CRM integration and pipeline analysis to predictive analytics and intuitive dashboards. You can use our guide for sales forecasting software comparison to find the one that fits your business needs.
However, if you are into B2B sales or running a remote sales team, Goodmeetings is the best choice. With conversational intelligence, meeting insights, customizable dashboards, and advanced analytics and predictions, Goodmeetings helps you stay ahead of your competitors.
