Forecasting is core practice, that is carried out by every business in order to survive and excel in current competitiveness of business world. Firms gain competitive edge based on more informed decisions. In order to carry out the activity of forecasting past data is used and analyzed to predict how will future trends shape up. A good forecast improves every step of a business, ranging from planning of a project to the reconciling the revenue. In the CRM world, Vtiger made forecasting easy by providing a-lot of different tools

Here are some of the advantages of forecasting

1. It is seen, that businesses practicing forecasting make far more improved financial and managerial decisions as compare to the businesses who refrain to practice forecasting.
2. Process of forecasting requires input from all the departments of a business, hence results in creating a sense of participation among the staff members and different departments of a organization
3. The businesses that forecasts well about how much they are going to sell in future or how much their products will be in demand, are less likely to face problems like inventory shortage or excess inventory. A good forecast also helps to reduce the inventory management costs for businesses.

VTiger CRM and Forecasting

Vtiger CRM system provides a wide range of functionalities and there are several features that can act as a supplement in the process of carrying out forecasting. for example

1. More accurate opportunity value

Once you add a line item, Vtiger take all the values and automatically calculate the amount of an opportunity based on items unit discounts, price, quantity etc. This results in an accurate opportunity value

2. Generate quotes, sales, invoices just by a click. Easy data entering

After an opportunity is closes user can simultaneously generate sales orders, quotes, invoices etc. The reason being that VTiger pulls the data from line items automatically and place them into sales, invoices, quotes. It also saves your employees from manually entering data again and again. This easy to enter data feature also helps in the process of forecasting

There are several such features of Vtiger that assist the process of forecasting.

A major shortcoming of Vtiger CRM when it comes to forecasting is that it does not provide any dedicated tool to carryout forecasting. Here, VTExperts come to the rescue with the state Forecasting extension

VTExperts Forecasting extension, a complete forecasting solution for Vtiger?

Sales forecast is a comprehensive solution developed by VTExpert in order to manage current and future endeavors for an organization. Ranging from the opportunities for the entire company to narrowing down to each individual user, it accounts every thing while forecasting. On top of that it also provides with the function of specifying the targets for each user or a team.

• Displays Opportunities in the Forecast view
• Includes flexible “Sales Stage” (Pipeline, Best Case, Committed) Configuration
• Includes the feature to categorize “Opportunity Type” field
• Designing of teams/groups out of existing users
• Ability to specify date ranges (custom dates, months, quarters)
• Option to set Targets for users & group by “Opportunity Type”
• Includes custom speedometer dashboards
• Intuitive & Responsive user interface
• Supports Team forecast and individual users
• Allows to drill to down to individual users & teams
• Module Manager Compatible