Lauren Kelley, CEO of OPEX Engine, a Bain Company, hosted Kevin O’Connor, CFO of Acuant, and Ted Serentelos, CEO revVana to talk about best practices to improve revenue forecasting. This replay is a comprehensive view of the many challenges to accurately forecasting revenue and ways to continually improve it.
Short on time? Here are some highlights:
- 3:43 - The speakers introduce themselves
- 13:45 - On the topic of why focus on revenue forecasting versus sales forecasting: “The metric that which you are value is based on is revenue”
- 19:25 - How to get salespeople to forecast expected consumption
- 22:30 - Knowing your assumptions of how and when revenue happens, things like delayed start times and ramp-up rates, and building them into your forecast will increase your accuracy
- 24:08 - Recommended things to add to your CRM to have your sales team help the finance team make the right estimations
- 26:24 - Why understanding the Order-to-Implementation process is more important than Order-to-Cash when approaching revenue forecasting
- 32:20 - “Growing companies can get ‘over their skis’ quickly if they mess revenue targets” (revenue forecasting as a governor to releasing growth capital)
- 49:20 - Getting really specific on what do you need in your CRM to implement best practices in revenue forecasting (Key Take-Aways)
- 58:12 - One to two concrete suggestions and takeaways from Kevin and Ted
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Go deeper into these best practices and other approaches to speeding your revenue forecasting and increasing accuracy.
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