10 Best Sales Forecasting Software

What is sales forecasting?

Sales forecasting is a process where you predict your sales performance.

In order to make these predictions, you look into past indicators such as historical data, and market trends, among other relevant factors.

By analyzing past sales data, market conditions, customer behavior, and other internal and external factors you can estimate future sales volumes, revenues, and trends.

Sales forecasting aims to provide businesses with valuable insights into their future sales performance, enabling them to make informed decisions about resource allocation, budgeting, inventory management, and strategic planning.

Sales forecasting can be performed using various methods, including qualitative methods (such as expert opinion and market research), quantitative methods (such as time series analysis and regression analysis), and multivariable analysis forecasting.

Why is it important?

Implementing a good sales forecasting strategy in your business is a wise move not just because you’re curious to know how you’re doing and how successful you’ll be!

Sure, it’s a great self-confidence boost, but employing sales forecasting will help you decide accurately what your next moves should be so you don’t have to take a leap of faith.

With sales forecasting, you’re able to:

• Devise strategic planning

Forecasting helps you set realistic goals and develop strategies to achieve them.

It provides a roadmap for future growth and guides resource allocation, such as budgeting, staffing, and production planning.

• Allocate your resources efficiently

This includes determining inventory levels, staffing requirements, marketing budgets, and investment decisions.

• Manage your business’s finances

Accurate sales forecasts help businesses manage cash flow, set revenue targets, and make informed financial decisions.

• Evaluate your performance and adjust

By comparing actual sales results to forecasted figures, you can identify areas of strength and weakness, measure progress toward goals, and make adjustments as needed.

You’ll be able to pinpoint areas in the business that aren’t performing as they should and that could therefore affect the entire sales funnel.

• Develop risk management

Forecasting allows businesses to anticipate potential risks and challenges, such as market fluctuations, competitive threats, and economic downturns.

This enables proactive risk management strategies to mitigate negative impacts on the business.

Sales aren’t linear. With a proper analysis of market fluctuations, you will be able to determine what sales strategies are more appropriate, and what techniques you should use at any given time.

• Increase your investor’s confidence in the brand

For publicly traded companies or those seeking investment, accurate sales forecasts are essential for building investor confidence.

Investors rely on forecasts to assess the company's growth potential and make investment decisions.

Sales Forecasting Method

The choice of forecasting method depends on factors such as the availability of data, the complexity of the market, and the level of accuracy required.

Pros and cons table

It is also possible to combine both methods to obtain a more accurate forecast. Companies can use quantitative methods to establish a baseline forecast and then use qualitative methods to adjust it based on external factors.

Quantitative Forecasting Method

Quantitative sales forecasting is based on tangible facts and numbers.

By offering data-driven predictions, quantitative forecasting is more reliable than other methods. It is based on historical data and mathematical analysis of trends and patterns in the industry.

Quantitative forecasting methods take into account trends, seasonality, cyclical patterns, statistics, and other historical data that could have an impact (positive or negative) on sales. However, this approach does not consider external factors such as consumer behavior.

If you have a large company, with a large trajectory behind you, it makes good sense to analysis all that data regularly to make accurate predictions, instead of just guessing.

Qualitative Forecasting Method

On the other hand, qualitative forecasting is based on subjective and expert opinions and non-measurable data.

Qualitative forecasting techniques are valuable when historical data is scarce or unreliable, when there are significant uncertainties or changes in the market environment, or when making long-term strategic decisions.

Qualitative forecasting is particularly useful when your business is fairly new and you still don’t have a large data log to rely on. Alternatively, with qualitative forecasting, you can include external factors in your analysis and predictions.

For example, the Superbowl is close, so you can reference and adjust your strategies around such events.

However, the major downside to qualitative forecasting is that they are inherently subjective and may be prone to biases, so it's essential to validate the forecasts with objective data whenever possible and to consider using a combination of qualitative and quantitative methods for more robust predictions.

Multivariable Analysis Forecasting

Multivariable analysis forecasting is a method used to predict future outcomes by considering multiple variables simultaneously.

Unlike univariate forecasting, which relies on a single variable, multivariable analysis takes into account the interrelationships and dependencies between multiple factors that may influence the forecasted outcome.

How does multivariable analysis forecasting work:

• Identify relevant variables:

The first step is to identify the variables or factors that may affect the outcome being forecasted. These variables can include both independent variables (factors that influence the outcome) and dependent variables (the outcome being predicted).

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• Collect your data

Next, historical data is collected for each of the identified variables over a relevant time period.

This data may include quantitative data such as sales figures, market trends, demographic information, and economic indicators.

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• Analyze the data you’ve collected

The collected data is then analyzed to identify patterns, trends, and relationships between the variables.

This may involve techniques such as correlation analysis, regression analysis, and time series analysis to quantify the relationships between variables and assess their impact on the forecasted outcome.

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• Develop a statistical model

Based on the analysis, a statistical model is developed to represent the relationships between the variables and predict the future outcome.

This model may be linear or nonlinear, depending on the nature of the data and the relationships between variables.

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• Start your forecasts!

Once the model is developed and validated, it is used to generate forecasts for the future outcome based on the values of the independent variables.

These forecasts may be generated for short-term or long-term time horizons, depending on the forecasting needs.

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• Validate and adjust accordingly

The forecasts generated by the model are validated against actual outcomes to assess their accuracy and reliability.

If necessary, the model may be adjusted or refined based on the validation results to improve its predictive performance.

Sales Forecasting Software

As with most steps in the sales funnel, there is software available to help you make this process quicker and much more accurate.

So, let’s go ahead and look into 12 of the best sales forecasting software out there:

1. Anaplan

Rating ⭐⭐⭐⭐

G2 4.6/5 (344 reviews) | Capterra 4.3/5 (26 reviews)

Overview

Anaplan is a transformative way to see, plan, and run your business.

Using its proprietary Hyperblock™ technology, Anaplan lets you contextualize real-time performance, and forecast future outcomes for faster, confident decisions.

On its own, Anaplan is fairly accurate, but if your business needs more accurate forecasts, consider adding Anaplan PlanIQ™, as it proves to be much more effective and accurate.

Anaplan integrates seamlessly with multiple cloud systems, such as AWS S3, Google BigQuery, and Microsoft Azure Blob, and leverages capabilities from industry-leading third-party systems with the CloudWorks framework.

Although users have mentioned, “This software doesn't go well with the high integration functions and doesn't offer a wide range of event workflows”.

Anaplan prides itself on its user experience, they also offer a demo with a short video describing how the product works. Users have stated UX is great, mentioning it is very native and user-friendly.   Although some have commented there is space for improvement in UX to improve usability.

Pricing

Free trial ✅

Anaplan does not disclose its pricing models, therefore it is only available under request. We do know they offer three different plans: Basic, Professional and Enterprise.

✅ Pros

• Intuitive user Interface
• Offers a history feature where you can view any change to a specific cell

❌ Cons

• Dashboard functionality is not as flexible as Excel
• Doesn't offer a wide range of event workflows

2. Pipedrive

Rating ⭐⭐⭐⭐

G2 4.2/5 (1008 reviews) | Capterra 4.6/5 (2950 reviews)

Overview

Pipedrive offers sales forecasting features that allow businesses to predict future sales performance based on historical data and current pipeline information

With Pipedrive's sales forecasting functionality, users can:

• Track Sales Pipeline
• Generate Forecasts
• Customize Forecasting
• Monitor Performance
• Generate Reports

Forecasting is based on deal progression, therefore it has a high accuracy level.

Pipedrive offers over 400 integrations, including Zendesk, PandaDoc, MailChimp, and many mor. Users generally appreciate the simplicity of their integrations.

Unfortunately, users have mentioned that the UX  is not very user-friendly, especially for those who are new to the software. Dashboards aren’t structured well and there are too many added features

Pricing

Sales forecasting is included in plans Advanced and over.

✅ Pros

• Affordable pricing
• Good analytics and reports are used for forecasting pipe and deals

❌ Cons

• UX could be improved
• The inability to move among contacts in the same list

3. Clari

Rating ⭐⭐⭐⭐

G2 4.5/5 (1759 reviews) | Capterra 4.5/5 (19 reviews)

Overview

Clari is a sales forecasting software that uses AI and automation to help sales teams predict and manage their pipeline more effectively.

It offers features such as:

• Pipeline Visibility
• Predictive Analytics
• Deal Insights
• Forecast Accuracy
• Collaboration Tools

Clari aims to streamline the sales foecasting process, improve forecast accuracy, and enable sales teams to make better-informed decisions.

Thanks to features such as their Sales trend analysis, statistical analysis, and reporting and analytics, Clari offers clear and accurate predictions.

Clari is partnered with 41 different apps and can integrate with software such as Salesforce, Salesloft, Google Workspace, among others. Users state that integrations are pretty solid and helpful, but there is room for improvement.

Clari offers user-friendly features and provides visibility into sales forecasts. With strong graphics and template options, Clari offers easy reporting and communication

Pricing

Clari offers 2 pricing models: Accelerator and Enterprise, although there is quite a large gap between both pricing models ($1.080 per year and $1.320 per year), the Accelerator plan offers most of the Enterprise features.

✅ Pros

• Edits several fields for separate opportunities from Salesforce
• Revenue operations don't need to use an Excel spreadsheet

❌ Cons

• Not always intuitive to click through
• Functionality limitations such as drill-down and view replies

4. ForecastX

Rating ⭐⭐⭐⭐

G2 4.5/5 (1 reviews) | Capterra 4.4/5 (7 reviews)

Overvie

ForecastX is a sales forecasting software that offers advanced forecasting capabilities to help businesses predict future sales and demand more accurately.

Some of ForecastX’s features include:

• Performance metrics
• Built-in algorithms
• Exception analysis
• Correlation analysis
• Modeling and simulation

Among many others!

ForecastX integrates with Excel to create instant reports.

By using PROCAST, ForecastX ensures accurate statistical forecasts. Users claim to have achieved a 95% accuracy thanks to ForecastX.

Pricing

Free trial ❌

Although ForecastX does not offer a free trial or plan, it does offer a free demo which is available upon request.

ForecastX has 2 different payment plans:

• ForecastX Lite: $59/month + $500 one-time setup fee
• ForecastX: $99/month + $500 one-time setup fee

✅ Pros

• Online and face-to-face training for its product

❌ Cons

• Exporting features could be improved
• Software tends to slow down with large amounts of data

5. Capsule

Rating ⭐⭐⭐⭐

G2 4.6/5 (237 reviews) | Capterra 4.5/5 (160 reviews)

Overview

Capsule CRM is a customer relationship management software that offers features for managing contacts, sales pipelines, and tasks.

While Capsule CRM provides robust tools for managing customer relationships and sales processes, it doesn't have dedicated functionality specifically for sales forecasting like some other CRM platforms.

However, you can still use Capsule CRM for basic sales forecasting by leveraging its reporting and analytics features.

Users have commented that they enjoy it’s easy interface.

As this is CRM software, accuracy is dependent on your reports rather than the actual software.

Users applaud integration with GMail and FreeAgent. Simple and seamless integration

Pricing

Free trial ✅

Four payment plans to choose from, ranging from €15 to €68.

✅ Pros

• Good customer support
• Easy implementation

❌ Cons

• Limited connectivity
• The mobile app is limited

6. Aviso

Rating ⭐⭐⭐⭐

G2 4.4/5 (712 reviews) | Capterra 4.1/5 (30 reviews)

Overview

By merging human expertise with AI, Aviso offers great results.

The core strengths of the Aviso AI Platform include:

• AI-Guided Deal Forecasting
• Pipeline & Deal Management
• Relationship & Activity Intelligence
• Conversational Intelligence
• Coaching & Enablement
• NLP Analytics & Reporting
• Go-To-Market (GTM) Collaboration
• Sales Engagement
• Lead Intelligence
• Customer Success Intelligence

Aviso's platform integrates dat from its databases, CRM systems, and external sources, processed through an advanced AI/ML layer.

Overall, users claim that the UI is very clean, simple, and easy to navigate.

Aviso offers high forecast accuracy and insights. Users mention that the platform's forecasting capabilities stand out, offering more than just numbers.

Aviso AI offers integrations with a wide variety of platforms, including Salesforce, Zoho CRM, Zoom, HubSpot and many more.

Pricing

Aviso offers a free demo of the product, so you can make an informed decision before choosing between one of their 2 payment plans, although pricing is under request.

✅ Pros

• Ability to create 360 profiles or scores to highlight interactions or risks in deals
• Offers a clear view of the entire pipeline

❌ Cons

• Little flexibility to create a custom report
• Does not offer immediate updates

7. Salesforce Sales Cloud

Rating ⭐⭐⭐⭐

G2 4.3/5 (19,622 reviews) | Capterra 4.4/5 (18,309 reviews)

Overview

Salesforce Sales Cloud offers robust forecasting capabilities to help businesses predict future sales performance and make informed decisions.

Some of the key features and benefits of Sales Cloud forecasting include:

• Customizable Forecasting Models
• Collaborative Forecasting
• Visibility and Transparency
• Predictive Analytics
• Integration with CRM Data
• Mobile Accessibility

Thanks to their use of AI with Einstein Analytics, Salesforce Sales Cloud offers predictive and accurate analysis and intelligent recommendations.

Sales Cloud forecasting integrates seamlessly with Salesforce CRM data, including opportunities, accounts, contacts, and activities. This allows for a holistic view of the sales pipeline and enables more accurate forecasting based on real-time data updates.

However, smooth integrations required technical expertise.

Although Salesforce Sales Cloud does have a high learning curve due to all the customizable aspects, users claim implementation is easy thanks to the usage guides

Pricing

Free trial and demo ✅

Salesforce offers 5 payment plans starting at €25 with the Starter Suite plan, although Predictive AI does not appear until the Unlimited plan, starting at €330.

It’s also important to bear in mind that Salesforce charges extra for most of their add-ons, making it a fairly expensive product.

✅ Pros

• Detailed reporting
• Easy to use and highly customizable

❌ Cons

• Forecasting or AI are sold as separate add-ons
• High learning curve

8. Zoho CRM

Rating ⭐⭐⭐⭐

G2 4.1/5 (2,604 reviews) | Capterra 4.3/5 (6,690 reviews)

Overview

Zoho CRM offers solid sales forecasting capabilities to help businesses predict future sales performance and make informed decisions.

Some key features of Zoho CRM sales forecasting include:

• Customizable Forecasting Models
• Pipeline Visibility
• Forecast Collaboration
• Predictive Analytics
• Forecast Reporting and Analysis
• Integration with CRM Data
• Mobile Accessibility

Thanks to its details reporting, Zoho CRM offers high accuracy in predictive sales.

Zoho CRM has been invested in improving the UX as much as possible.

Most users comment on the seamlessness of Zoho CRM’s integration with other tools.

Pricing

Free trial ✅

Zoho CRM offers 4 payment plans starting at €14 and their sales forecasting feature is included in all of them.

✅ Pros

• Customizable workflows
• All apps are integrated

❌ Cons

• The initial setup and customization can be tedious
• Occasional glitches

9. Insightly

Rating ⭐⭐⭐⭐

G2 4.2/5 (894 reviews) | Capterra 4.1/5 (645 reviews)

Overview

Insightly is a CRM platform that offers sales forecasting features to help businesses predict future sales performance and make informed decisions.

Among Insightly’s sales forecasting capabilities, we find:

• Pipeline Management
• Forecasting Models
• Data Analysis
• Forecast Collaboration
• Integration with CRM Data
• Reporting and Analytics
• Mobile Accessibility

Insightly provides a framework and tools for sales forecasting, but its accuracy ultimately depends on the quality of data, user input, chosen forecasting methods, and external market factors.

Insightly is very user-friendly and completely customizable.

By getting an AppConnect plan, you’re able to integrate Insightly seamlessly with a wide variety of apps.

Pricing

Free plan ✅

Insightly’s pricing is divided not only in 3 plans, but also 5 different tiers to fit your specific needs, or combining all tiers in a near “All-in-One”, starting at $349.

✅ Pros

• Modern, organized, and clean
• Great report management

❌ Cons

• Files cannot be deleted in mass
• Minor glitches in the system

10. Netsuite

Rating ⭐⭐⭐⭐

G2 4/5 (3,119 reviews) | Capterra 4.1/5 (1,480 reviews)

Overview

NetSuite is a cloud-based ERP (Enterprise Resource Planning) software, that offers robust sales forecasting functionality as part of its CRM and ERP suite.

Among NetSuite's sales forecasting capabilities, we find:

• Customizable Forecasting Models
• Integrated CRM and ERP Data
• Demand Planning
• Collaborative Forecasting
• Advanced Analytics
• Scenario Planning and "what-if" analysis
• Mobile Accessibility

Users state that NetSiute is very user-friendly, although autosaving is not an option.

Some users have claimes that NetSuite’s forecasting is not the most accurate, due to inaccuracy in reporting.

Pricing

NetSuite does not disclose its pricing plans at this time.

✅ Pros

• Unified platform  
• Workflows are easy to setup

❌ Cons

• Said to be expensive
• Lacks a training process

FAQs

1. What factor affect foreasting?

Forecasting can be affected by both internal and external factors.

Internal factors: sales history, product mix, marketing strategy, and sales team.

External factors: overall economy, industry trends, and competitor activity.

2. How do you calculate sales forecast?

You multiply last month’s revenue by your expected growth, and subtract your expected churn:

($150,000 * 1.12) – ($150,000 * .01) = $166,500

3. What are the common types of sales forecasting?

The straight-line method, using moving averages, simple linear regression, and multiple linear regression

4. What is the most accurate sales forecasting method?

Multivariable Analysis Forecasting. Incorporating various factors from other forecasting techniques like sales cycle length, individual rep performance, and opportunity stage probability, Multivariable Analysis is the most sophisticated and accurate forecasting method.

5. What is the difference between budgeting and forecasting?

Budgeting is about setting financial targets and allocating resources, while forecasting is about predicting future outcomes and making informed decisions based on those predictions.