Sales Forecasting release notes
Summarize
Summary of Sales Forecasting Release Notes
The ServiceNow® Sales Forecasting application, introduced in the Yokohama release, enables organizations to project future sales and revenue by leveraging data from their opportunity pipeline. This application provides sales teams and managers with intuitive tools to create accurate sales forecasts, manage quotas, and track progress at multiple levels within the sales hierarchy.
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Key Features
- Sales Forecast Dashboard: Visualize sales forecasts based on sales representatives’ insights and opinions on deal statuses, showing opportunity amounts by stage, time period, and team.
- Opportunity Categorization: Classify sales opportunities according to their probability of closing, enhancing forecast accuracy.
- Sales Team Hierarchy Setup: Define sales teams and assign managers to enable hierarchical forecasting and performance tracking.
- Sales Quota Management: Assign and manage quota targets for individual sales representatives and managers. The dashboard highlights quota targets and remaining gaps to meet those targets.
- Forecast Scheduling: Automate forecast data updates through scheduled jobs that gather all current opportunities and generate forecast insights on a recurring basis.
Activation and Integration
The Sales Forecasting application is available for installation through the ServiceNow Store. Customers can request the application directly from the store to enable forecasting capabilities within their environment.
Related ServiceNow Applications
- Customer Service Management (CSM): Supports proactive customer service to improve satisfaction and retention.
- Opportunity Management: Provides sales agents with product recommendations and facilitates converting opportunities into quotes seamlessly.
Practical Benefits for ServiceNow Customers
By implementing Sales Forecasting, your organization can gain actionable insights into sales pipelines, improve forecast accuracy, and establish clear sales targets across teams. This supports better decision-making, resource allocation, and sales performance management, ultimately driving revenue growth.
The ServiceNow® Sales Forecasting application enables you to project your future sales and revenue based on data from an opportunity pipeline. Sales Forecasting is a new application in the Yokohama release.
Sales Forecasting highlights for the Yokohama release
- Project future sales and revenue with intuitive forecasting by sales representatives.
- Access the Sales Forecast dashboard at all levels of the sales hierarchy.
- Set and manage sales quotas for individual representatives and sales teams.
- Track sales quota targets and their progress for individuals and sales teams across the hierarchy.
See Sales Forecasting for more information.
Sales Forecasting features
- View the Sales Forecasting dashboard
- Sales Forecasting uses data from the opinions and insights of your sales representatives reflecting how they feel about the deals in their pipeline. View the dashboard to see the sales forecast for your teams in various stages. You can see the total amount of opportunity in each stage for selected time periods or teams.
- Categorizing the sales opportunities
- Categorize the opportunities in the system based on the probability of closing the sales deal.
- Set up sales team hierarchy
- Set up the sales teams and assign managers to each team. Once the users, team, and opportunity data is added, and a selection of categories, you can calculate the forecast for any group or specific sales team and view the dashboard.
- Set up Sales Quota Management
- Assign quota targets to sales representatives and managers for specific periods. A Quota column displays the sales target for the managers and their team. The Gap column displays the remaining target amount to achieve the required quota target.
- Set up forecast schedule
- Create a forecast scheduled job to update or create the forecast data at a specific time or on a recurring schedule. The forecast scheduled job automatically fetches all the opportunities in the system and generates forecast data.
Activation information
Install Sales Forecasting by requesting it from the ServiceNow Store. Visit the ServiceNow Store website to view all the available apps and for information about submitting requests to the store. For cumulative release notes information for all released apps, see the ServiceNow Store version history release notes.