10 KEY ELEMENTS TO CONSIDER WHEN CHOOSING A
SALES FORECASTING TOOL
Choosing the right sales forecasting tool is an
important step for the optimization of the Supply
Chain, whether for large companies or small and
medium-sized enterprises. A controlled and reliable
forecast, among others things, allows companies to
improve service levels, inventory management but
also to lower production costs.
1.
YOUR NEEDS AND
YOUR PERIMETER
Your APS (Advanced Planning System) must
cover all your forecasting needs. You’ve been
using Excel to do your forecast until today but
you’ve seen its limits? You are ready to move to
the next level? Start by identifying your
priorities and the key functionalities you’d need.
Then determine your budget. Give priority to a
solution with a speedy implementation process.
All too often companies are forced to undergo
long and expensive deployments.
4.
ADAPTABILITY
Your sales forecasting tool should adapt to
your business needs, your growth, and your
international expansion. Reduce costs by
deploying the same solution at the corporate
level thus developing best practices and
instilling consistency within the different
subsidiaries.
7.
SERVICE
Your vendor should be an expert you can rely on
for advice and for consulting. You should be able
to draw on the expertise of forecasting specialists
to boost your results and your utilization of the
solution.
10. THE PROTOTYPE
Ask to test the solution for at least two weeks with
your own data! The vendor must be able to
provide you with a prototype designed with your
own data.
2.
SCALABILITY
Your APS should fit your business needs. Make
sure the evolution of the software is based on a
precise product roadmap that incorporates users’
feedback. Product improvements and evolutions
must be driven by a dedicated team that will
consider you as a true partner throughout your
project.
5.
THE INFRASTRUCTURE
AND DATA SECURITY
Favor a SaaS delivery model which integrates hosting
services, maintenance, support and product updates. It
eliminates the need for client organizations to incur these
expenses. Without any software to install and automatic
updates, this model can also provide a higher security
than an on premise set-up. Identify a solution that relies
on an innovative cloud infrastructure. Your sales forecasting tool must be secured by an HTTPS connection,
protected by an authentication and complex passwords.
The data transmitted on the internet must also be
encrypted.
8.
KEY PERFORMANCE
INDICATORS
Determine a set of KPIs to help you measure
progress and results. They should be determined
based on your forecasting cycle and the axes you
use. Work with your provider to measure them while
using the solution.
3.
ACCESSIBILITY
AND MOBILITY
In an ideal world you need to access your application
anywhere and anytime via a simple internet connection. Your sales forecasting tool should be available
24/7. Accessibility from tablets or smartphones is
also critical to meet your employees’ mobility’s needs.
6.
COLLABORATION IN THE
HEART OF THE PROCESS
Today, forecasting requires the integration of the
feedback from your customers, your sales teams, and
your vendors. A collaborative process has a direct
impact on your operational costs. Make sure your
sales forecasting software incorporates this key
functionality.
9.
PRICING
You have a limited budget? Choose a tool available in
SaaS with a competitive monthly or annual subscription
fee. Ask for a fixed price regardless of the number of
users.
FOLLOW THESE CRITERIA AND YOU WILL FIND A SOLUTION
TAILORED TO YOUR NEEDS!
If you are actively looking for a user friendly sales
forecasting tool, quick to implement, and at a
competitive price, try Colibri.
Colibri is a collaborative sales forecasting tool
developed and distributed by VISEO.
www.colibri-aps.com