8 Best Sales Forecasting Software in 2024

What is sales forecasting software?

Sales forecasting software is a must-have for any business, it helps sales teams forecast future sales, manage inventory, and make informed business decisions. Sales forecasting software works by analyzing historical data and current trends to generate accurate sales predictions. These tools use sales data, market analysis, and advanced algorithms to give you accurate sales forecasts.

Now let’s get started and learn about the top sales forecasting software of 2024.

8 top sales forecasting tools in 2024

1. Forecastio: Best for multi-method sales forecasting and AI-driven insights

2. Weflow: Best for workflow automation and forecasting

3. Scratchpad: Best for seamless CRM integration

4. Growblocks: Best for growth-focused sales teams

5. Clari: Best for revenue operations and forecasting

6. Gong: Best for conversational analytics and forecasting

7. Kluster: Best for data-driven decision making

8. HubSpot: Best for comprehensive CRM and sales forecasting

How sales forecasting software works

At its core, the sales forecasting process involves using large amounts of data to forecast future sales performance. Here’s how it works:

1. Data import and integration: The software imports internal sales data from various sources including CRM systems, ERP platforms, and other business intelligence tools. This big data set is the foundation for accurate forecasting.

2. Historical data analysis: The sales forecasting solution then analyzes past sales data to look for patterns, trends, and correlations. This includes historical sales figures, win rates, deal sizes, and sales cycle lengths.

3. AI-powered predictive modeling: AI sales forecasting software uses AI algorithms to process this data. These advanced models can see patterns and relationships that are invisible to the human eye and can forecast future sales more accurately.

Advanced features to improve forecast accuracy

Today’s sales forecasting software goes beyond data analysis. These features leverage advanced analytics and AI-driven insights to forecast sales with greater accuracy. Here are some of the advanced features that help to improve forecast accuracy:

Pipeline management integration

By integrating with your sales pipeline management system the software can give you real time updates to forecasts based on deal progress and changes in the pipeline.

Scenario modeling

Advanced forecasting tools allow sales managers to create multiple forecast scenarios so teams can prepare for different outcomes and adjust accordingly.

Customizable forecast categories

The right sales forecasting software will allow you to define and track different types of forecasts (e.g. best case, worst case, most likely) to give you a more detailed view of potential outcomes.

Sales activity data analysis

By including data on sales rep activities (e.g. calls made, emails sent, meetings booked) the software can give you insights into the effectiveness of different sales strategies and their impact on forecasts.

Key outputs of sales forecasting software for accurate predictions

The end goal of sales forecasting software is to give you actionable insights to drive data-driven decisions. Optimizing the sales process is crucial for effective decision-making and accurate forecasting. Here’s what you can expect:

1. Sales projections: The software will generate revenue projections based on historical trends, current pipeline performance, and predictive modeling.

2. Forecast summary reports: These reports will give you a clear and concise view of expected sales performance, often by product, region, or sales team.

3. Performance tracking: By comparing actual sales to forecasts the software will help you understand how accurate your predictions are and refine your forecasting over time.

4. Resource allocation recommendations: Based on forecast data the software will suggest where to allocate resources to maximize sales and hit sales targets.

How to choose the best sales forecasting tools

Choosing the best sales forecasting tools for your business is key to getting accurate and reliable forecasts. Here are the key features to consider when evaluating different sales forecasting tools:

1. Data integration

Seamless integration with your existing CRM system and other sales tools is a must. This ensures all data is available for forecasting without manual data entry.

2. User interface

A clean and simple interface makes it easier for your sales team to adopt and use the software. Look for tools with informative and clean dashboards and simple navigation.

3. Forecasting methods

Different tools use different forecasting methods such as time-series analysis, pipeline creation forecasting, and pipeline stage forecasting. Make sure the software you choose supports multiple methods to suit your needs.

4. AI and machine learning

Advanced AI (Artificial Intelligence) and machine learning can improve sales forecast accuracy by analyzing large data sets and finding patterns that may not be visible through manual analysis.

5. Real-time analytics

Real-time data and analytics so you can make decisions based on the latest sales performance. Look for tools that give real-time updates and dynamic reporting.

6. Scalability

As your business grows, your sales forecasting software should grow with it. Choose a tool that can handle more data and more users without performance degradation.

7. Customer support

Good customer support and training resources are key to a smooth implementation and ongoing use of the software.

How to compare and evaluate different tools

When comparing different sales forecasting tools consider:

• Your needs:

What are the specific needs of your sales team and business? Consider the size of the sales team, complexity of sales processes, and existing technology stack.

• Shortlist:

Based on your needs, shortlist the sales forecasting tools that meet your criteria. Use online reviews, expert recommendations, and product websites to gather information.

• Request a demo:

Request demos from the shortlisted vendors to see the software in action. Look at how the software addresses your specific needs and is user-friendly.

• Evaluate the costs:

Compare the pricing models of the different tools, including costs for training, support, and upgrades. Make sure the tool fits within your budget and has the features you need.

• Trial:

Use the free trials to test the software in your business environment. This will give you a hands-on experience to see if the tool meets your needs.

By following these and considering the above, you can choose the right sales forecasting software for your business.

Criteria for choosing the best sales forecasting tools

Selecting the right sales forecasting software for your business is crucial for accurate and reliable forecasts. Here are some key features to consider when evaluating different sales forecasting tools:

1. Data integration:

The ability to seamlessly integrate with your existing CRM system and other sales tools is essential. This ensures that all relevant data is available for accurate forecasting without manual data entry.

2. User-friendly interface:

A clean, intuitive interface makes it easier for your sales team to adopt and use the software effectively. Look for tools that offer informative and clean dashboards, and simple navigation.

3. Forecasting methods:

Different tools use various forecasting methods, such as time-series analysis, pipeline creation forecasting, and pipeline stage forecasting. Ensure the software you choose supports multiple methods to cater to your specific needs.

4. AI and machine learning:

Advanced AI (Artificial Intelligence) and machine learning capabilities can enhance sales forecast accuracy by analyzing large datasets and identifying patterns that might not be visible through manual analysis.

5. Real-time analytics:

Real-time data and analytics allow you to make timely decisions based on the latest sales performance. Look for tools that offer real-time updates and dynamic reporting.

6. Scalability:

As your business grows, your sales forecasting software should scale accordingly. Choose a tool that can handle increasing amounts of data and users without compromising performance.

7. Customer support:

Reliable customer support and comprehensive training resources are important for ensuring smooth implementation and ongoing use of the software.

How to evaluate and compare different forecasting tools

When comparing different sales forecasting tools, consider the following steps:

1. Identify your needs:

Determine the specific needs of your sales team and business. Consider factors such as the size of your sales team, the complexity of your sales processes, and your existing technology stack.

2. Create a shortlist:

Based on your identified needs, create a shortlist of sales forecasting tools that meet your criteria. Use online reviews, expert recommendations, and product websites to gather information.

3. Request a demo:

Request demos from the shortlisted vendors to see the software in action. Pay attention to how well the software addresses your specific needs and is user-friendly.

5. Evaluate the costs:

Compare the pricing models of different tools, including additional costs for training, support, and upgrades. Ensure the tool fits within your budget while offering the necessary features.

6. Trial period:

Take advantage of the free trials offered by vendors to test software in your business environment. This hands-on experience will help you determine if the tool meets your needs.

By following these steps and considering the key features mentioned, you can select the best sales forecasting software for your business. This will ensure accurate forecasts and improved sales performance.

Best sales forecasting software reviews

1. Forecastio: Best for multi-method sales forecasting and AI-driven insights

Forecastio is a leading sales forecasting software designed to provide highly accurate forecasts through multiple forecasting methods. It utilizes advanced AI and machine learning algorithms to analyze historical data and predict future sales with precision. The platform supports time-series analysis, pipeline creation forecasting, and pipeline stage forecasting, offering flexibility for businesses with varying data availability and sales processes.

Key features:

• Multi-method forecasting: Allows users to choose from different forecasting methods depending on their data and business needs.

• AI and machine learning: Enhance forecast accuracy by identifying patterns and trends in large datasets.

• Real-time analytics: Provides up-to-date insights and dynamic reporting to aid timely decision-making.

• Actionable real-time insights: Spotting performance gaps and unveiling the root causes.

• In-depth pipeline analysis: Conduct in-depth pipeline analysis to identify areas needing optimization.

• Pre-built dashboards: The most relevant data and metrics for sales leaders.

• Integration: Seamlessly integrates with HubSpot CRM.

Benefits:

• Accurate Forecasts: Multiple forecasting methods ensure precise predictions tailored to your business model.

• Efficiency: Automates the forecasting process, saving time and reducing manual errors.

• Scalability: Grows with your business, handling increasing amounts of data and users.

Pricing:

Flat price starts from $149/month.

Experience accurate sales forecasting with Forecastio. Book a demo today!

2. Weflow: Best for workflow automation and forecasting

Weflow combines workflow automation with powerful forecasting tools to streamline sales processes and improve forecast accuracy. It is designed to enhance efficiency and productivity for sales teams that use Salesforce CRM.

Key features:

• Workflow automation: Automate routine sales tasks to save time and reduce errors.

• Accurate forecasting: Provides reliable sales forecasts based on historical data and pipeline analysis.

• Custom dashboards: Allows users to create custom dashboards for tracking key metrics.

Benefits:

• Efficiency: Automates repetitive tasks, freeing up time for sales activities.

• Productivity: Helps sales teams stay organized and focused on high-value tasks.

Pricing:

Plans with forecasting features start at $69/user per month. (billed annually)

3. Scratchpad: Best for seamless CRM integration

Scratchpad is designed to simplify sales forecasting by integrating seamlessly with Salesforce CRM. It offers a user-friendly interface and real-time data synchronization, ensuring that your sales forecasts are always based on the latest information.

Key features:

• CRM integration: Works seamlessly with Salesforce, eliminating manual data entry.

• Real-time updates: Ensure your forecasts are always up-to-date with the latest sales data.

• User-friendly interface: Simplifies forecasting with intuitive navigation and customizable dashboards.

Benefits:

• Efficiency: Saves time by automating data synchronization with Salesforce CRM.

• Accuracy: Real-time updates ensure forecasts reflect sales trends and data.

Pricing:

Paid plans start from $24/user per month.

4. Growblocks: Best for growth-focused sales teams

Growblocks is tailored for sales teams focused on growth and scalability. It provides advanced forecasting capabilities along with tools for pipeline management and performance tracking.

Key features:

• Growth analytics: Offer insights into sales performance and growth opportunities.

• Pipeline management: Helps you manage and optimize your sales pipeline for better results.

• Customizable reports: Users can create detailed, customized reports to track performance metrics.

Benefits:

• Growth-focused: Designed to support sales teams aiming for rapid growth.

• Comprehensive tools: Provides a suite of tools for both forecasting and pipeline management.

Pricing:

To get a customized quote, contact Growblocks.com.

5. Clari: Best for revenue operations and forecasting

Clari is a comprehensive platform designed for revenue operations, offering advanced forecasting tools along with revenue intelligence and pipeline management features for Salesforce and Pipedrive users.

Key features:

• Revenue operations: Integrates forecasting with revenue intelligence to provide a complete picture of sales performance.

• Pipeline management: Helps manage and optimize the sales pipeline.

• AI-powered insights: Use AI to deliver actionable insights and improve forecast accuracy.

Benefits:

• Comprehensive: Provides a wide range of tools for revenue operations and forecasting.

• Actionable insights: Offer insights that improve sales strategies and outcomes.

Pricing:

To get a customized quote based on your team size, contact Clari.com.

6. Gong: Best for conversational analytics and forecasting

Gong leverages conversational analytics to enhance sales forecasting. As a result of analyzing sales conversations, Gong provides unique insights that improve forecast accuracy and sales performance for Salesforce and HubSpot users.

Key features:

• Conversational analytics: Analyze sales calls and meetings to extract valuable insights.

• AI-driven forecasting: Uses AI to predict sales outcomes based on conversational data.

• Performance tracking: Tracks individual and team performance metrics.

Benefits:

• Unique insights: Provide insights not available through traditional forecasting methods.

• Improved accuracy: Enhances forecast accuracy by incorporating conversational data.

Pricing:

To get a customized quote based on your team size, contact Gong.io.

7. Kluster: Best for data-driven decision-making

Kluster focuses on data-driven decision-making, providing advanced analytics and forecasting tools to help sales teams optimize their performance and strategy. 

Key features:

• Advanced analytics: Offers detailed analytics to support data-driven decisions.

• Accurate forecasting: Uses historical data and predictive models to provide reliable forecasts.

• Customizable reports: Allows users to create and customize reports to track key metrics.

Benefits:

• Data-driven: Empowers sales teams to make informed decisions based on accurate data.

• Customization: Offers flexible reporting options to meet specific business needs.

Pricing:

To get a customized quote, contact Kluster.com.

8. HubSpot: Best for comprehensive CRM and sales forecasting

HubSpot is known for its comprehensive CRM capabilities, including sales forecasting tools with a simple forecasting method –– a weighted pipeline. It provides an all-in-one solution for managing sales, marketing, and customer relationships.

Key features:

• Data integration: Seamlessly integrates forecasting with CRM data for accurate predictions.

• User-friendly interface: Easy-to-use interface with customizable dashboards.

• Comprehensive tools: Offers a wide range of tools for sales, marketing, and customer management.

Benefits:

• All-in-One Solution: Combines CRM, sales, and marketing tools on a single platform.

• Ease of Use: A user-friendly interface makes it easy for teams to adopt and use.

Pricing:

Pricing plans for HubSpot's Sales Hub ‘Professional’ plan with forecasting features start at $100/seat per month. 

How to implement sales forecasting software in your business

Implementing sales forecasting software can significantly improve sales operations and business outcomes. Here are the steps to successfully integrate sales forecasting software into your business:

1. Assess your needs

Identify the specific requirements of your sales team and business. Consider factors such as the size of your team, the complexity of your sales processes, and your existing technology stack.

2. Choose the right tool

Based on your assessment, select the sales forecasting software that best fits your needs. Use the criteria and reviews provided in this article to make an informed decision.

3. Prepare your data

Ensure your sales data is accurate and up-to-date. Clean and organize your data to facilitate smooth software integration.

4. Implementation plan

Develop a detailed implementation plan that outlines the steps, timelines, and responsibilities. Consider involving key stakeholders and getting buy-in from your sales team.

5. Integrate with CRM systems

Connect sales forecasting software to your CRM. Ensure seamless data flow between systems to maximize software effectiveness.

6. Monitor and adjust

Continuously monitor the sales forecasting software performance. Gather feedback from your team and stakeholders, and make adjustments to optimize its use.

7. Use the insights

Leverage the software's insights and forecasts to make informed business decisions. Regularly review forecasts and use them to guide sales strategies and operations.

Best practices for sales forecasting tool implementation

• Start small: Begin with a pilot implementation to test the software and gather feedback before rolling it out across the entire sales team.

• Involve stakeholders: Engage key stakeholders from different departments to ensure the software meets the needs of the entire organization.

• Communicate the benefits: Clearly communicate the benefits of the new software to your sales team to encourage adoption and usage.

• Provide ongoing support: Offer continuous support and training to help your team fully utilize the software and address any issues that arise.

Conclusion

Sales forecasting software plays a vital role in helping businesses predict future sales, allocate resources efficiently, and make informed strategic decisions. By leveraging advanced algorithms, AI, and real-time analytics, these tools provide accurate AI sales forecasts that can significantly improve your sales operations and overall business performance.

In this article, we explored some of the best sales forecasting software available in 2024, including Forecastio, Scratchpad, Growblocks, Gong, Weflow, Clari, Kluster, and HubSpot. Each tool offers unique features and benefits tailored to different business sizes and needs.

When choosing the right sales forecasting software for your business, consider the key features, customer segments, and your specific requirements. By following the steps outlined in this guide, you can successfully implement a sales forecasting tool that will drive your business forward.

Ready to take your sales forecasting to the next level? 

Experience the power of accurate sales forecasting with Forecastio. Book a demo now! 

Discover how our multi-method sales forecasting and AI-driven insights can transform your sales strategy and help you achieve your business goals.