Sales Forecasting System
Bernard van Zyl, Member
When salesmen work on their market and give feedback on the status of their sales process and the chances of closing the deal, it relies heavily on the perception of the salesman and the pressure he is under to make the sale.
There is often inaccurate feedback on IF a sale will materialize and WHEN a sale will be closed.
For cash flow planning we need an unbiased and more accurate mechanism to determine the chance (%) of closing each deal
. It may be based on the adopted sales process, where a predefined set of weights can be given to certain questions to be answered.
Our sales projects are relatively large (±$100,000) and may take from 1 to 4 years before the sale is closed.
What mechanisms for accurate measurement of such opportunities are available?