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Business Forecasting

April 6, 2021
Bill Kimball

business forecasting software

QuickBooks Desktop Premier, Accountant, and Enterprise feature cash flow forecasting to help businesses predict incoming future revenue over a specified period of time. Currently, QuickBooks Online does not handle cash flow forecasting. Produce intelligent sales forecasts, more quickly, more effectively and with none of the tedious manual processes associated with using spreadsheets for the forecasting of demand. The Forecast Pro SDK is a totally seamless forecasting solution which generates accurate statistically-based forecasts.

The key components of creating a budget are inputting accurate historical information and querying users for estimates of future financial conditions. Budgeting software programs provide a framework for reinforcing budgeting best practices. Ensuring the inclusion of all relevant data and collecting information from distributed sources can be deceptively difficult tasks.

business forecasting software

It is powerful & accurate, yet easy-to-use and quick to implement — you can be up and running in just days, or even hours. ProjectManager.com is an award-winning software that organizes projects with features that address every phase.

Business Forecasting Methods

A realistic budget will help your business plan for the future. You’ll be able to improve business decision-making with accurate and relevant financial information. Being able to anticipate demand and expected revenue will help you decide how many new employees to hire, how many products to manufacture, or how many materials to purchase. We searched and searched, but we couldn’t find any products in our database that match your criteria. They’d be happy to provide a list offree budgeting and forecasting software recommendationsthat meet your exact requirements. A rich multi-user software solution that helps business forecasters produce defensible sales forecasts with minimum effort and maximum future insight.

There’s no way to ever manage all the variables that can impact future events. There are errors in calculations and the innate prejudices of the people managing the process, all of which add to the unpredictability of the results. Focus on your business and customer relationships, while keeping your data safe and reliable.

With an implementation team that powers the clients up on the platform as well as an account management team that will power them forward. DealCloud comes from the private equity and investment banking world, understanding what clients need to execute a deal. Planning for unexpected external factors is a difficult task. Budgeting software can help you easily correct for external factors like inflation. If you disable this cookie, we will not be able to save your preferences.

You can also tag those tasks to make it easier to filter the project and pull up just those interview subjects you’re looking for. If you’re worried that there’ll be too many documents and maybe even images to add to one task, don’t. If only we were able to predict the future, we’d all be rich. Help users get the skills needed to optimize their use of SAP Business Planning and Consolidation with easy-to-access, specialist training.

Our modern, intuitive interface is the perfect place to clearly demonstrate financial ideas and concepts to colleagues. Secondary sources contain published data or data that has been collected by others. It refers to techniques such as taking a prospective view of how the economy is likely to turn out in the short-term. Its use is critical for businesses whenever the future is uncertain.


Just add your historical data to Excel and create your forecast in one click. The software will automatically intemperate your data and pick the best forecasting method using the best fit algorithm Procast. Most of the information found in this guide will refer to business budgeting and forecasting software and their importance. John Galt helps solve your toughest demand planning problems with their forecasting software solutions. Business Budgeting Software, Business Planning Software | PlanGuru. PlanGuru business planning software offers the budgeting and forecasting tool of choice designed to help businesses and nonprofits make better decisions. Adaptive Insights is a comprehensive tool offering cloud-based budgeting and forecasting software combined with reporting and analytics features.

For example, there are both qualitative and quantitative methods. Some of the more common forecasting models are outlined below. Well, that fantasy is played out every day in boardrooms across the globe with the practice of business forecasting. Try ProjectManager.com and get online work management tools that can help you get better insights into your business. Deliver a fast and accurate close by automating the consolidation process. You can meet all financial reporting requirements, including a complete audit trail. This Free Small-Business Budget Template Will Take Your Bookkeeping to the Next LevelBudgeting can be tedious and time consuming, but it’s an absolute must.

Coupa is a simple budget management tool that helps to inform every team member about real-time results and budgets. Compared with Centage and Prophix, Planguru is a more simple budgeting software solution, which might be what you’re looking for to manage your small company’s budget. GMDH Streamline is the small business demand forecasting dream come true. If you are too small for a huge ERP and big enough to need to track and forecast demand and reorders this is really the perfect tool. It integrates so nicely into QuickBooks and in one click runs your regular reports.

The software is packed with smart, user-oriented, features and functions. Due to this and many other modern options, implementation times are record-breaking short.

What Is Revenue Planning?

The effectmanager solution is an online account management software solution designed to build trust and improve your relationship with your accounts. Effectmanager is one, integrated solution that aggregates data to allow 15% more time for planning, 10 % for analyzing and to building better customer relationships so profits can soar. With effectmanager, it is easy to create an accurate forecast and a solid financial budget by combining Baseline, sales in and sales out with your financials. With Jedox Enterprise Performance Management software you streamline budgeting, planning and forecasting across the organization. Boost data quality and analysis, slash budgeting cycles in half, and speed-up reporting with the modern, intuitive tool for finance, sales and other departments. A unique combination of flexible BI and planning capabilities, an Excel-optimized interface and a powerful modelling engine enable non-technical business users to build their own apps.

Don’t just settle for SKUs, forecast everything from brands to suppliers. Make manual adjustments to sales data to influence the monthly forecast. Each employee may have responsibility for different segments of your financial data. If you need to receive input from multiple employees, using a manual approach to creating budgets can easily become impractical. You’ll likely be spending unnecessary time standardizing information into normalized formats. Furthermore, creating a budget is often a process that depends on working through multiple versions.

  • Start with the packages and licenses your organization needs right now and add more users and functionality as your needs evolve.
  • Being able to anticipate demand and expected revenue will help you decide how many new employees to hire, how many products to manufacture, or how many materials to purchase.
  • Once data has been translated into predictions for financial outcomes, actual earnings and expenses can be compared against the predictions to monitor business progress.
  • Adjust timelines and turn on/off any item in your model and immediately see the effects on your bottom line.
  • It also automatically keeps track of the history with each sales opportunity, so you are on top of every deal and can follow up like a pro.

The more they can focus on the probable outcome, the more success the organization has as it moves forward. Automate aggregations, allocations, and other manual processes to speed up planning cycles, while running what-if scenarios to identify quick course corrections. See how SAP Business Planning and Consolidation can be extended with innovative planning and augmented analytics in SAP Analytics Cloud. Improve decision-making, collaboration, and efficiencies with streamlined planning and consolidation. GMDH Streamline can link such profiles to the sales history of similar, existing products or set seasonal coefficients. This allows you to get a reliable forecast for those fresh items as well.

Some forecasts are based on highly sophisticated statistical methods; some are based on experience and examine past precedent, while others just follow a gut feeling. One thing is constant, all industries rely on business forecasting.

Creating budgets can be one of the most time-intensive tasks for executives. Budgeting software will help you eliminate the reliance on cumbersome spreadsheets. For anything but the most basic budgeting needs, spreadsheets use dozens if not hundreds of formulas and macros. One mistaken keystroke can spoil weeks of careful preparation. Budgeting software uses financial information to plan future budgets based on expected revenue and expenses, as well as track financial progress.

Companies have limited confidence in hand-created budgets due to concerns that the historical information is incomplete or inaccurate. With In-Place Analytics, put analytics where the data resides for faster results, better analyses and more flexible processing. Pyramid is a complete enterprise analytics platform that lets you use your existing data technology, infrastructure, and sources.

business forecasting software

By combining statistical and econometric models with experience, skill and objectivity, business forecasting is a formidable tool for any organization looking for a competitive advantage. These are the questions that will shape your plan for the collection of data, which is crucial to business forecasting. Once you have your plan, data can be collected from a variety of sources. Qualitative business forecasting is also useful for when little is known about the future in your industry.

Streamline Your Planning Today:

Centage is a comprehensive enterprise budgeting software provider that offers different tools called Maestros for budgeting, forecasting, financial reporting, etc. If you’re looking for a highly complete solution, Centage might be the answer.