NetSuite Advanced Forecasting makes the next generation of forecasting more reality based with a system of checks and balances that triangulates the sales forecast in a single dashboard view. This single view, called the Sales Management Portlet, combines a real-time view for the forecast from rep to manager including the following:

Simple or complex, you'll create more accurate and reliable forecasts with NetSuite and NetCRM thanks to:

• A calculated forecast based on the opportunities, quotes and orders in the system
• A"mood ring" forecast which the sales reps & managers predict their forecast without tying it to specific opportunities
• The ability for managers to "override" their reps forecast, whether calculated or mood ring
• The inclusion of actual sales to date and recurring revenue in the sales forecast

Instead of a limited forecast based on limited insight, these three points of view help fine tune the sales forecast prediction through a richer combination of actual sales to date, recurring revenue, statistical predictors and rep and management better guess estimates.  

		In addition, new forecast "bucketing" into worst case, best guess and upside categories better predict what's likely to be delivered. These tools enable reps and managers to overcome often inaccurate sales process probability logic, sales rep sandbagging, and other dynamic challenges that cloud sales forecasting within a company.
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NetSuite Advanced Forecasting gives companies a cockpit with radar for more predictive sales management to better answer the questions management asks:

• How confident are you?—NetSuite answers the question management always asks.  Advanced Forecasting introduces three forecast categories—low, most likely, and upside—which sales reps can use to categorize their opportunities and quotes based on their level of confidence in closing the deal. These categories can even be renamed depending on business objectives—for instance, a company could choose to call the categories worst case, best guess and upside or commit, forecast, and best case—ensuring clear communication of the numbers a sales person is accountable for.

• Do you feel lucky?—In addition to the forecast of opportunities, quotes and orders from the sales process, sales reps and their managers can enter their own "mood ring" predictions with an override forecast at the individual level, and roll these up to reflect team totals.  Dashboard comparisons and drill-downs provide at-a-glance comparisons of calculated and override forecasts both of which are inclusive of reps' and managers' real-time updates.

• Pipeline or Forecast?—NetSuite is the first and only hosted CRM solution to include actual sales in forecasting.  Because NetSuite has integrated order management, closed sales and recurring revenue are automatically included in the forecast for a truer picture of what has closed and what is likely to close.  Other systems' forecast tools simply rely on closed opportunities, so they see no real difference between pipeline and forecast, and certainly can't provide visibility into recurring revenue.

• What's the score?—The NetSuite Dashboard gives you at-a-glance scorecards with key opportunity won/loss KPIs as well as a Opportunities in Forecast Outstanding Portlet that  shows you instantly what deals are in the forecast that have not yet closed. 

• How does the forecast break down?—Advanced Forecasting introduces new forecast reporting that allows businesses to analyze the forecast per month or quarter and slice by class—such as new business vs. repeat business, department—such as telesales vs. field sales, or location—such as US vs. International, and because forecasting is integrated with the product catalog and order management, you can even see the Forecast analyzed by Item so you know how your product and service mix is performing for the sales period. Finally, new Pipeline by Status and Forecast by Status analyses provide graphical sales-funnel views right on the Dashboard.

Advanced Forecasting is a direct result of NetSuite customers requesting more reality based statistical models and more gut-feel indicators that provide truer predictability based on the ability and experience of their sales team. These tools, and the comparisons they can provide, give a company the visibility they need to predict sales better and consistently deliver results.