Give Your Sales Teams Added Flexibility for Predicting Revenue with Custom Field Forecasts (Generally Available)
|Available in: Performance, Unlimited, Enterprise, and Developer Editions|
Now, your sales teams can forecast on custom currency fields on opportunities. For example, your sales teams might use a custom field such as Margin, Monthly Recurring Revenue, Annual Contract Value, or any other currency field that your organization requires. You can easily set up a forecast based on any of those custom fields, which your sales managers can then view in the Forecasts tab like any other forecast.
If you use opportunity splits with your custom field, your forecast incorporates those splits. You can use a custom field forecast by itself or in addition to other forecasts, such as an opportunity-revenue forecast based on the opportunity Amount field.
Forecasting on Annual Contract Value-a Simple Custom Field Forecast
Here we see an example of an opportunity owned by sales rep Anna Bressan (1). Anna’s organization has a lot of multi-year deals, so they use a custom Annual Contract Value field (2) to track the revenue received from the deal each year.
Here we see the Forecasts tab for Anna (1). The Annual Contract Value field in all of Anna’s opportunities rolls up into her Annual Contract Value forecast (2), which appears in the Forecasts tab along with any other forecasts that you set up. The Forecasted Amount (3) is the value of the Annual Contract Value field that rolls up into Anna’s forecast. Anna’s Acme – Premium Support opportunity (4) appears in the list at the bottom of the page.
A Custom Field Forecast with Opportunity Splits
If you use opportunity splits on your custom fields, your custom field forecasts roll up those splits. For example, here we can see that sales representative Anna owns an opportunity (1), which includes the Annual Contract Value field (2) and a custom split on the Annual Contract Value field for Kevin (3), a sales engineer responsible for increasing overall Annual Contract Value for the company. In this case, Kevin’s 25% split will roll up into his Annual Contract Value forecast.
Kevin’s manager can view the Annual Contract Value forecast (1) where he can see the deal to which Kevin is contributing, along with all of the other opportunities his sales engineer team is working on. Kevin’s manager can see that Kevin is receiving a 25% credit (2) for all of his opportunities, which contribute to a total of $1,026,000 revenue in his Best Case forecast. If Kevin’s manager thinks the deal will ultimately close for a higher amount, his manager can adjust the Best Case forecast amount upward. When Anna’s manager views his forecast, he can see Anna’s 75% split.
Forecasts with the Expected Revenue Field
If your organization uses the standard Expected Revenue field, you can set up a forecast for it as well. The Expected Revenue field is useful for opportunities that are likely to produce more or less revenue than indicated in the Amount field.