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Utilizing AI-Powered Forecasting Software for Revenue Intelligence

These days, you can’t turn on the news without hearing something about artificial intelligence. Indeed, whether it’s ChatGPT or computer programs operated by Microsoft or Google, artificial intelligence is everywhere. When it comes to AI, the sky seems to be the limit.

These trends should force your business to ask important questions: Are you taking full advantage of the AI revolution? How are you using AI-informed insights to grow your business? Are you using AI tools to achieve pipeline acceleration or ensure you get the most out of your sales forecasting software?

Technology has advanced to the point that AI-related questions are no longer just hypotheticals for the future. At Next Quarter, we’ve used AI to ensure your business succeeds. 

Real-Time Sales Forecasting

The expression “moving at the speed of business” isn’t enough. These days, businesses need real-time sales forecasting software. Real-time sales forecasting software can benefit your business in many ways. Access to this data lets you have the most updated information and gives you the information to make better business decisions. From a competitive perspective, real-time forecasting enables your business to spot trends before the competition. From there, you can better position your products or services to embrace your customers’ needs. 

Real-time sales forecasting software will only benefit your business if you can use it to gain deeper insights and better drill down into what the data tells you. AI allows your business to use the data from sales forecasting to make better decisions and provide critical revenue intelligence. Furthermore, you can use the analytics generated from AI to make better growth plans and guide the investment of marketing and sales dollars. 

Increased Forecasting Accuracy

More than anything else, your sales forecasting software must capture information and be 100% accurate. However, your business may need to determine the best way to capture data and what “accuracy” refers to. On the one hand, precision in data refers to projected revenue and expenditures. On the other hand, AI-powered sales forecasting software must have access to data from across your company. 

However, getting the information correct isn’t enough. You also need artificial intelligence to identify gaps in data and determine where outside trends can make a major impact.

Data can be examined to ensure your business is prepared for anything. Does your current sales forecasting software engage in scenario planning? Can you use it to build scenarios about what happens if you suffer a supply chain issue, the loss of a major customer, or an X% increase in leads? You need forecasting software that’s flexible and adapts to meet your needs. 

Using All Data To Better Inform Forecasting

At Next Quarter, we believe the spreadsheet is the enemy of progress. Furthermore, we know that data is most effective when all relevant parties can access it. As such, our platform ensures all parties can access data. Our account planning tool enables your business to de-silo data so that all relevant individuals can access the information. Your business needs access to data to ensure your business can project income, identify future expenses, and gain actionable insight. 

Data enables comprehensive risk analysis, sales forecasting, trend monitoring, and more. Your business needs a system that gives your team access to all data, enabling your business to reduce uncertainty and improve your sales forecasting ability. 

Why does this matter? Imagine a scenario in which one person knows an account has challenges but fails to input that information. For example, the potential loss of a customer could be a key piece of data that would impact a sales forecast. With the right system, your team could be aware of these issues and take the necessary steps to retain the customer. They could also run an updated sales forecast that lets you see how losing this customer would impact your revenue, then determine what adjustments your business must make to better prepare for future risks. 

Partner With Next Quarter

Your business needs the best sales forecasting software. If you aren’t taking advantage of the opportunities presented by artificial intelligence, you’re holding your own business back. At Next Quarter, we’re proud to have created the first AI-based account planning tool. We’ve been involved in this area for years. Next Quarter operates exclusively within Salesforce. Our long-standing Salesforce experience can improve the accuracy of your sales forecasting software by over 97%.

Ready to take the next steps? Reach out to our sales team for more information on how Next Quarter can help grow your business.