Excel sales forecasting
Excel was never designed as a multi-user solution or as a purpose-built sales forecasting
solution. Applying Excel to a requirement it was not specifically designed to meet invariably leads to:
Hero or Villain?
- functional compromises
- lack of multi-user access
- significant additional manual maintenance (e.g. adding new products, customers, consolidating) just to keep the system up to date and resilient.
Sales forecasting is a business-critical process. Inaccurate forecasts cost serious money. Shouldn't Excel only be used if it is 100% best for the job or there is no alternative, cost-effective option?
The simple fact is that Excel is not 100% best for sales forecasting. In fact, while it is great for many purposes, especially as a personal productivity tool, it is far from ideal when applied to multi-user business sales forecasting activities.
The limitations of Excel for your sales forecasting solution, all of which are addressed by Prophecy, are:
- no single view of the truth
- single user
- potential formula errors
- inflexible views of the data
- no forecaster aids
- cumbersome / error prone consolidation
- poor scaleability
- ineffective visibility to management
- no automatic data loading
- cumbersome adding new products / customers
- difficult reorganising hierarchies - e.g. assigning customer from one forecaster to another
- complex, time consuming and error prone year end procedures
- multi-level forecasting not supported
- awkward, manual consolidations
- vulnerable data interchange with business systems
Data Perceptions has developed a detailed comparison between forecasting spreadsheets using Excel and sales forecasting using Prophecy. The document also highlights the potential unexpected complexity of any home-grown solution compared to the proven, professional forecasting software solution which Prophecy represents. Please click the 'whitepaper' button below to download your copy.
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