Closing the Gaps
To weather this storm, you need to know where your revenue is coming from, when it's coming, and to maximize every dollar you're getting.
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©2020 revVana
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©2020 revVana
Where Your Revenue Is Hiding:
Revealing and Closing the Costly Gaps Between Pipeline and Revenue Forecast
To meet growth goals, companies can’t let revenue slip through the cracks. Yet there are gaps between expected pipeline revenue and the revenue forecast that are costing companies millions of dollars — sometimes hundreds of millions of dollars — of revenue today.
For most companies that have revenue recognized or expected over time through bookings or subscriptions, these gaps appear between closed deals in Salesforce and the revenue forecast that leadership uses to base their decisions.
There are five primary gaps that we’ll highlight:
Limited ability to forecast revenue expected from sales pipeline.
No way to instantly adjust revenue forecasts when pipeline shifts or changes.
Booked deals not delivering the expected revenue.
No way to manage or forecast run-rate revenue directly in the CRM.
Technology
Pipeline in this industry moves fast, and with traditional revenue forecasting processes, tracking corresponding revenue streams isn’t easy. It takes time to aggregate pipeline for future revenue, and by the time the revenue forecast is generated, the data is stale.
Manufacturing
In the manufacturing sales process, the sale is merely an agreement on price, plus possibly a ballpark estimate on order quantity and frequency. Real revenue can vary widely from what the sales team enters as a closed deal in the CRM.
Life Sciences
In the life sciences industry, account reps
and other customer-facing teams are often managing account-level revenue. This creates a different dynamic for how sales data is gathered and tracked, but it still creates many of the same revenue forecasting problems that the manufacturing industry experiences.
Managing the revenue forecast with manual spreadsheets not only makes a company radically inefficient, but it also creates massive gaps between pipeline and revenue. These gaps create blind spots not only for leadership but for the sales team as well.
Where Your Revenue Is Hiding:
Revealing and Closing the Costly Gaps Between Pipeline and Revenue Forecast