Revenue forecasting software is used to create predictions of sales. These models can then feed into the larger overall financial model for your SaaS business, and help you plan the next phase of your growth. Financial models can also help you prepare your response to different certain scenarios, like a drop in sales or surges in demand.
In the Baremetrics article "The SaaS Financial Model You'll Actually Use" we describe how to create financial models that are helpful when planning your next move—even when things don't go according to plans.
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Why Use Revenue Forecasting Software?
Revenue forecasting software allows companies to forecast revenue and efficiently allocate resources in a way that optimizes growth and cash flow. With more knowledge and reliable predictions, it becomes possible to confidently make important decisions in a way that impacts your bottom line.
This kind of software usually includes predictive templates and complex algorithms to help you forecast revenue more accurately based on proven statistical models. These templates are used to analyze historical financial data and sales reports.
Want to learn more about revenue and growth analytics? Read our article Growth analytics for SaaS and subscription businesses.
Now, let's have a look at the top 7 revenue forecasting software in 2021.
Baremetrics is a SaaS analytics platform that can help you accurately forecast sales and revenue so that you can adjust your budget planning and resource allocations accordingly. Baremetrics takes the guesswork out of sales predictions and revenue predictions with a user-friendly, zero-setup subscription approach.
Are you interested in learning how to grow your revenue faster? Read our article How to improve revenue growth.
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SalesDirector.ai is sales and revenue forecasting software based on AI and designed as a coaching solution for enterprise sales teams. SalesDirector.ai integrates with Salesforce.
Azurepath is a cloud-based platform where CRM meets sales and revenue forecasting. It's a tool that combines lead tracking and sales performance trends with sales and cash flow predictions. Azurepath offers automation and boasts a wide range of user-friendly functionalities to help you forecast your sales pipeline.
Forecast Pro is sales and revenue forecasting software that supports budgeting and financial forecasting. It can work in multiple hierarchies and help predict market interest for products and services. Forecast Pro is a popular sales forecasting tool boasting high forecast accuracy
Anaplan is a sales forecasting software solution that enables dynamic and collaborative real-time planning and decision making. It aims to provide a better understanding of what supplies will be needed and where revenue will be coming from, to enable improved planning and optimization.
IBM Planning Analytics
This forecasting software powered by IBM technology brings fast insights while allowing for quick rollouts. It's a solution that helps teams collaborate around a 360-degree view of actual sales data and historical data. This planning software enables more accurate planning for sales, supply chain, and beyond.
The NetSuite CRM+ is a front-office solution that provides a 360-degree view of a company's customers. It integrates customer-focused activities with accounting, e-commerce, warehousing, and shipping applications to support the entire sales process.
Workday Adaptive Planning
With this revenue forecasting software, you can create models of most facets of your business. You can use it for sales forecasting, but also budgeting and workforce planning. The forecasts can be broken down into segments like department, program, or business unit.
Are you interested in learning more about SaaS analytics and forecasting? Check out our content library!
How Baremetrics Can Help
For reliable forecasting, use Baremetrics! Baremetrics is a SaaS analytics program that takes the guesswork out of your financial planning and uses your data to generate insights about subscriptions, customers, cancelations, downgrades, upgrades, and revenue.
Benefits of using Baremetrics for sales forecasting include:
- Complex data comparisons — all in one place
- Better forecasting models with data from cash flow statements, income statements, and other financials
- Improved cash flow
- No surprises — you know your financial situation
- Insights into all aspects of subscription management
- Google Sheets add-on allows you to directly pull data and metrics into Google Sheets.
- Spotlight on subscriber growth opportunities
- Daily, weekly, or monthly reporting
- Access to reports via email or Slack
- Integrations with payment solutions like Stripe
- Integrations via Baremetrics API with PayPal payments
With multiple integrations, custom reports, and an easy-to-use API, you can track all your SaaS KPIs with just a few clicks. Global SaaS businesses use Baremetrics for financial modeling.
With Baremetrics subscription-centered software, you can transform historical financial data into valuable insights for budgeting, cash flow management, profitability, and growth.
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