Will we see systems for automating sales management soon? With today’s competitive markets, and corporate demands for more performance at lower costs, there has to be a compelling business case. Smart software already makes operations more efficient, and cost effective in other applications. Many services which used to be personal and labour intensive are now [...]
Sales Forecast Concepts and Tools
Like it or not everybody in business has to forecast sales, even though the term accurate sales forecast is an oxymoron. The sales forecast is used in two ways to help manage any business. It’s an estimate of upcoming revenues to help the operations guys plan sourcing and manufacture and distribution. It helps the accountants anticipate cash flow, and it helps the CEO set analysts expectations, But it’s also a management tool – see elsewhere in this blog for an explanation of Henri Fayol’s theory – which equips executives to create plans, deliver on them, and find ways of increasing the quality and efficiency of processes. So the bottom line is you have to forecast sales. You might as well do the best job you can.
Why doesn’t the traditional approach to selling and sales management work so well any more? What can the modern sales professional do to stay relevant in today’s customer driven markets? Check out our eBook Reengineering Sales Management for ideas on how to embrace the new order of customer driven buyer/seller relationships.