15 best sales forecasting tools for predicting revenue
List of best sales forecasting tools
- Clari
- Anaplan
- Gong
- Aviso
- Pipedrive
- Nutshell
- InsightSquared
- SPOTIO
- HubSpot’s Forecasting Software
- Keap
- Weflow
- Map My Customers
- EngageBay
- ForecastX
- ActiveCampaign
Sales forecasting is an essential process that helps companies accurately predict future sales and revenue. However, manual forecasting can be challenging and time-consuming.
Fortunately, sales forecasting tools are available that can automate and make the process more efficient.
Their value is bolstered as Itangent revealed that 67% of companies lack a formalized approach to sales forecasting. It also found that 55% are not confident with their accuracy.
In this article, we’ll list 15 of the best sales forecasting tools to help companies predict their future revenue with greater precision.
What are sales forecasting tools?
Sales forecasting tools allow businesses to forecast their future sales and revenue using software and data analysis.
These tools typically use historical sales data, market trends, customer behavior, and other relevant factors to predict sales outcomes.
Sales forecasting software uses various algorithms and methodologies to provide accurate insights into how much revenue a business can expect to generate over a specified time frame.
The ability to produce accurate sales forecasts lets organizations manage their resources, project cash flow, optimize inventory, and plan their sales and marketing strategies accordingly.
15 best sales forecasting tools to try in 2024
Let’s delve into 15 of the best sales forecasting tools available, each with its unique features and capabilities:
1. Clari
Clari is a revenue platform that integrates with Salesforce and other sales applications. It provides real-time visibility into sales forecasts, productivity, and deal risks.
This sales forecasting tool’s AI algorithms analyze sales data, identify trends, and reduce data entry.
Some of Clari’s key features include:
- Seal tracking
- Pipeline management
- Real-time sales analytics
2. Anaplan
Anaplan is a cloud-based sales forecasting solution that increases flexibility and collaboration between sales, operations, and finance teams.
It utilizes predictive analytics to manage sales data, revenue planning, and sales execution.
Anaplan has unique and useful functions such as:
- Scenario modeling
- Demand planning
- Territory management
3. Gong
Gong is an AI-powered tool that analyzes sales calls to provide insights into customer needs, objections, and competitive intelligence.
It helps sales leaders optimize their sales strategy, coaching, and team performance with the help of machine learning and natural language processing (NLP).
Gong has handy features like:
- Call recording and analysis
- Conversation analytics
- Deal review
4. Aviso
Aviso uses ML algorithms to analyze historical sales data, pipeline activity, and external factors for accurate sales forecasting.
It provides coaching tools to sales leaders for improving sales performance and team productivity.
Aviso can do the following functions:
- Predictive forecasting
- Activity tracking
- Performance analytics
5. Pipedrive
Pipedrive is a CRM software that uses a visual sales pipeline to forecast sales and revenue. It simplifies the sales process, increases sales team efficiency, and improves customer relationship management.
Pipedrive offers these key features:
- Pipeline management
- Sales automation
- Email integration
6. Nutshell
Nutshell is a CRM solution that provides forecasting, reporting, and analytics capabilities. It has a customizable sales dashboard, automated reports, and customizable sales processes for accurate revenue forecasts.
Nutshell can perform:
- Pipeline tracking
- Team collaboration
- Customer segmentation
7. InsightSquared
InsightSquared is a sales performance analytics platform that uses data analysis to create accurate sales forecasting models.
Like most sales forecasting tools, it offers customized dashboards for real-time views of sales performance and revenue forecasts.
InsightSquared’s key features include:
- Sales analytics
- Goal tracking
- CRM integration
8. SPOTIO
SPOTIO is a sales tracking and management platform with sales forecasting capabilities. It uses AI-driven forecasting for lead identification, territory management, and sales prioritization.
SPOTIO can perform:
- Lead tracking
- Territory mapping
- Performance analytics
9. HubSpot’s Forecasting Software
HubSpot is a comprehensive CRM tool that offers powerful sales forecasting capabilities.
Its Forecasting Software provides sales and revenue insights and integrates with other HubSpot tools like marketing automation and customer service.
HubSpot has functional features like:
- Pipeline management
- Email automation
- Sales analytics
10. Keap
Keap is a CRM platform for small businesses with forecasting, automation, and analytics features. It offers customizable pipelines, advanced reporting, and customized sales forecasts.
Keap also offers services such as:
- Lead management
- Sales automation
- Customer segmentation
11. Weflow
Weflow is a real-time sales forecasting solution that uses AI to analyze sales data and provide insights into future revenue opportunities.
It offers automated data capture, customizable forecasting models, and real-time financial reporting.
Keap’s other key features are:
- Predictive analytics
- Sales reporting
- Performance tracking
12. Map My Customers
Map My Customers is a field sales CRM platform targeted at outside reps. It offers sales territory management and forecasting tools.
Map My Customers’ AI-driven forecasting integrates with existing CRMs to provide accurate revenue projections.
Some of its notable features are:
- Territory mapping
- Lead tracking
- Performance analytics
13. EngageBay
EngageBay is an all-in-one CRM platform designed for small businesses. It’s one of the most comprehensive sales forecasting tools with automation and analytics capabilities.
Its forecasting function uses historical data and predictive algorithms to estimate future revenue and sales performance.
EngageBay’s key capabilities are:
- Contact management
- Email automation
- Sales reporting
14. ForecastX
ForecastX is a sales forecasting tool by John Galt designed for retail and distribution industries. Its statistical power is primarily combined with Excel’s infinite flexibility.
It offers data analysis, what-if analysis, and statistical modeling capabilities for accurate sales predictions.
Other ForecastX services include:
- Demand planning
- Sales analysis
- Inventory optimization
15. ActiveCampaign
ActiveCampaign is a CRM and marketing automation SaaS solution with powerful sales forecasting capabilities.
Its forecasting feature allows users to forecast revenue, identify product trends, and customize sales projections based on historical data.
Other notable features of ActiveCampaign are:
- Email marketing automation
- Lead scoring
- Customer segmentation
Choosing the best sales forecasting tools
When choosing the right sales forecasting tools, businesses should consider their strength in data analysis and algorithms.
Selecting the right tool or software for your business also requires careful consideration of your specific needs and goals. Here are some other important factors to keep in mind:
- Scalability. Ensure the tool can grow with your business and handle an increasing volume of sales data.
- Ease of use. Opt for a tool that your sales team can quickly adopt and use effectively.
- Integration. Look for software that seamlessly integrates with your existing CRM or sales management systems.
- Customization. Choose a solution that allows you to tailor forecasting models to your unique business processes.
- Data accuracy. Prioritize sales forecasting tools that provide accurate and reliable predictions by leveraging advanced analytics and algorithms.
- Support and training. Check for available customer support and training resources to maximize the software’s effectiveness.
- Cost efficiency. Evaluate the tool’s cost against the value it brings to your business. Take your budget and ROI expectations into account.
Staying ahead with sales forecasting tools
Sales forecasting is a fundamental element of every business strategy — and the right tools can provide transparency and insights that enable better planning.
The ability to predict sales accurately helps enterprises manage resources effectively, optimize their sales and marketing strategies, and achieve revenue targets.
The sales forecasting tools mentioned above can help companies of all sizes to automate and optimize their sales forecasting process. As a result, you can keep up and remain competitive through agile decision-making.
When you find the best-suited sales forecasting tools for your organization, you can look forward to improved sales performance and a brighter future.
Independent
