Sales forecasting software uses predictive analytics and machine learning to analyze past data, including sales, customer demographics, and market conditions, to provide businesses with accurate predictions of future sales. All these can help you identify and take advantage of new opportunities before competitors.
In this article, we’ll explore 10 of the best sales forecasting software you should start using in 2023, covering their benefits and key features you should look for when choosing the best software for your needs.
Benefits of Using Sales Forecasting Software
Sales forecasting software can help you leverage historical data, market trends, and other relevant information to get a more accurate picture of what to expect in the coming weeks, months, or even years.
But beyond the data, there are a number of benefits to using sales forecasting software that can help you:
- Improve accuracy of sales predictions – Get valuable insight into how your products and services are performing in the market, allowing you to adjust your strategies accordingly and capitalize on opportunities.
- Increase efficiency and productivity – Anticipate customer needs and market trends and adjust your strategies accordingly, which can lead to higher sales and better customer satisfaction, ultimately resulting in increased profits.
- Better decision-making through data-driven insights – Data-driven insights give you a more accurate picture of the market and customer trends. By understanding these trends, you can make more informed decisions about your sales strategies, marketing campaigns, and product development.
- Enhanced collaboration and communication – Keeps everyone on the same page and helps them understand their role and how it fits into the larger picture of the project. Effective collaboration and communication can also help to reduce conflict and create a more productive and successful work environment for you and your team.
Key Features of Sales Forecasting Software
It’s of utmost importance to understand the key features that make sales forecasting software so powerful. Regardless of the tool you plan to use, ensure it comes with all these features:
- Automated data collection and analysis – Helps you make more informed decisions about sales forecasts, inventory management, and pricing strategies.
- Customizable forecasting models – This enables you to tailor your forecasts to your own unique sales patterns, customer data, and business goals.
- Integration with other business tools and systems – Gain real-time insights into sales performance, customer behavior, and other important metrics by connecting your sales forecasting software with other tools you use to run your operations.
- Reporting and visualization tools – Spot trends and patterns in your sales data that would otherwise be missed. This feature also allows you to create custom reports on your sales data in order to track key performance indicators, such as sales growth over time.
Best Sales Forecasting Software 2023
If you’re looking for the best sales forecasting software, look no further. Here are our top 10 picks for 2023.
Teamgate is a sales CRM software that helps businesses streamline their sales process and maximize their performance. It provides a full suite of sales management tools, including automation, data analysis, and customer relationship management.
Teamgate works for businesses of all sizes, from small operations to large enterprises. It provides a range of features that allows you to easily track and manage your sales process, including lead management, automation, contact management, and more.
This platform can also help you access historical sales data and use it to generate forecasts for future sales to plan and manage your sales process more efficiently.
Teamgate offers a range of pricing options, from a $9 plan to a full enterprise plan starting at $65. The enterprise plan offers more advanced features like extensive reports and native integrations.
Here are some features that make Teamgate stand out from the competition:
Salesforce provides businesses with data-driven insights into customer behavior and helps them predict customer needs and market trends. Salesforce’s forecasting tools make it easy to set realistic sales goals and identify potential opportunities for growth. It can also help you better understand your customer base and develop strategies to better serve them.
Salesforce offers a wide range of pricing plans to meet the needs of different businesses. Plans range from basic plans for small businesses (starting at $25/month/user) to enterprise plans for larger organizations (starting at $1,250/month).
Here are some of Salesforce’s best features:
- Comprehensive forecasting – Salesforce’s forecasting is AI-powered and based on KPIs, so you can be sure that your predictions are accurate;
- AI-powered – Salesforce’s AI-powered features help you make smart decisions based on historical data, trends, and forecasts.
- Revenue Cloud – Automate workflows by connecting the front and back office to simplify and scale your closing process.
HubSpot Sales Forecasting
HubSpot is a comprehensive software suite designed to help businesses increase sales, attract customers, and improve customer service. It is best for small to mid-sized businesses looking to optimize their marketing, sales, and customer service operations.
HubSpot’s sales forecasting features can help businesses gain insights into their sales performance and accurately predict future sales. The software allows businesses to analyze data and create forecasts based on historical data, customer trends, and other metrics.
Pricing for HubSpot is based on a subscription model, offering a range of plans for businesses of all sizes. The professional plan starts at $450 per month for five paid users, and the enterprise plan starts at $1,200 per month.
HubSpot’s main features include:
- Forecast across multiple pipelines – This helps you predict future revenue based on current and historical data;
- Reporting and analytics – HubSpot makes it easy for you to see what’s going on in your business, so you can make informed decisions about where to focus your time and energy.
- Pipeline management – Add deals, assign tasks, and monitor progress in a single, unified dashboard.
Zoho CRM Forecasting
Zoho CRM‘s forecasting software is a powerful tool for businesses that want to accurately predict their future sales. It helps sales teams forecast sales projections based on customer data. It is best for businesses looking for a single tool to manage their whole sales process.
It is available in four different pricing plans, each tailored to the business’s size and needs, starting from $20 per month per user.
Here are just a few of the amazing things you can do with Zoho CRM:
- Sales forecasts for different periods – Create sales forecasts for different periods, from one week to one year in the future;
- Predictive forecasting – Analyze data about your customers and make predictions based on historical patterns and trends;
- Transparent pipeline data – Track prospect activity as well as opportunities in real-time.
Pipedrive is a cloud-based sales forecasting and CRM software. It is best for small and medium-sized businesses looking for an easy way to track their sales pipelines, forecast sales, and stay organized.
The forecasting feature in Pipedrive gives you the ability to set and track sales goals, measure progress, and accurately predict future revenue.
Pipedrive offers a free trial and four different pricing plans, starting at $14.90 per user per month.
Here’s how Pipedrive can help:
- Change offers based on past performance – With Pipedrive, you can see which offers and deals are working best, so you know which ones to focus on in the future;
- Recurring revenue reports – You’ll always know which customers are coming back for more—and how much they’re spending each time they re-order;
- Set KPIs based on historical data – You can set goals that are informed by what your business has done in the past, so you can predict its future success with confidence.
Sugar CRM forecasting software is an intuitive, user-friendly platform created to help businesses accurately forecast sales, manage customer relationships, and increase productivity. The software is well-suited for companies of all sizes, from startups to large enterprises, and can be customized to fit individual business needs.
Sugar CRM forecasting software is highly cost-effective and available in various pricing plans based on the size and scope of the business.
The software helps with sales forecasting by automating the process of creating forecasts, reducing the time and effort needed to get accurate sales predictions. It also provides visibility into customer data, allowing you to better understand your customers and develop targeted strategies to increase your sales.
Some of its main features include:
- Change Detection – This feature helps you identify trends that might be affecting your sales forecast—and it does it automatically! You can set up alerts so that when something changes in your data, you’ll get notified right away;
- Identify Trends – If any trends in your data could affect your forecast, this feature will identify them for you and point out any potential issues or opportunities that might arise.
With Freshsales, users can analyze historical data and sales trends to create highly detailed forecasts. The platform provides an intuitive and easy-to-use interface with features that help you analyze data and create sales projections.
It also allows users to set up alerts and customize reports to monitor performance. Freshsales offers three pricing plans, ranging from free to $83 per user per month.
With Freshsales, you can:
- Predict sales revenue – Set realistic revenue targets and prepare for the future, so you can make sure you have enough inventory to satisfy customer demand, as well as a healthy pipeline of leads coming in;
- Set realistic sales targets – If your forecasts are too high, it’s easy to get discouraged and lose focus on the target. On the other hand, if your forecasts are too low, you might not be able to meet customer demand, which can lead to unhappy customers and lost revenue.
Insightly CRM is a sales forecasting software designed to help businesses accurately anticipate their sales outcomes. It offers a wide range of features, including predictive analytics, automated forecasting, and team collaboration tools, to give you the power to track and forecast sales.
This software is well suited for businesses of any size that need to accurately forecast their sales and make data-driven decisions.
Insightly CRM follows a tiered pricing structure that starts at $29/user/month for the Plus plan and goes up to $99/user/month for the Enterprise plan.
Here are some of its main features:
- Track frequency of interactions – track how often you interact with customers and prospects. This information can help you determine which leads will likely convert into customers, allowing you to focus on those prospects;
- Track key metrics – better understand what’s driving your business growth and where there may be opportunities for improvement.
- Multiple integrations – automate different aspects of your business workflow.
Outreach is a powerful sales forecasting tool designed to help businesses make more accurate predictions about their future sales. It’s best for sales teams of any size, as it provides customizable forecasting models, real-time insights, and team collaboration features to help you stay on top of your sales goals. It can also integrate with many other business tools.
Their pricing depends on the size and needs of your business, so you need to get in touch with the Outreach team to get a custom quote.
Outreach can help you:
- Create a forecast for your entire company, or for individual products/services;
- Use best practices to create accurate forecasts based on historical data;
- Automatically update forecasts as new data comes in;
- Create a pipeline for each product/service that allows you to see how many leads are in each stage of the process.
Gong.io forecasting software is an AI-powered sales forecasting tool designed to help businesses anticipate customer demand and predict future sales performance. It is best suited for businesses that need assistance with accurate sales forecasting and pricing strategies.
The software helps with sales forecasting by leveraging AI-driven insights from customer conversations to identify trends and patterns in customer behavior and sales performance. This data is then used to generate accurate and reliable sales forecasts, enabling sales teams to make informed decisions and optimize their strategy.
Pricing for Gong.io is based on the type of license you choose after booking a demo.
Here are some features that make Gong.io stand out from the crowd:
- AI-powered insights – Gong can pick up on crucial concepts across your customer interactions and help you streamline your sales operations;
- Strategic initiatives – Tie initiatives to objectives and prove impact;
- Deal execution – Get a bird’s eye view of your pipeline’s health.
A sales forecasting software is an invaluable tool for businesses of all sizes. It helps you accurately predict future sales and helps you plan for future growth. With sales forecasting software, you can set realistic goals and plan your resources accordingly.
When selecting the right sales forecasting software for your business, it is important to consider what features you will truly use and make sure they are available. You should also consider the fees associated with the software, the ease of use, and the customer support provided by the vendor.
With Teamgate, you can easily track your sales pipeline, find opportunities to close more deals faster, and accurately predict future revenue. Try Teamgate today free for 14 days and see how it can improve your sales forecasting and business operations.