Forecasting Updates and Overrides

The Calculated Forecast 

NetSuite calculates your sales forecast as the sum of the following: 

• Opportunities with no estimates attached or with estimates that are not set to be included in the forecast 
• Estimates set to be included in the forecast that have not been converted to closed sales 
• Unbilled sales orders that have not been converted to cash sales or invoices 
• Cash sales and invoices within the time period you are forecasting 

If you use weighted forecasting, the calculated amount for each opportunity or estimate is multiplied by the probability of close. 

Forecasting Updates and Overrides 

• No one has a better feel for their sales forecast than the sales rep. If the calculated forecast does not match what a sales rep anticipates for their sales numbers, they can override the forecast with the Forecast Editor. 
• When a reps saves their forecast, NetSuite creates a snapshot of the rep’s best prediction of their sales at that point in time. To ensure that the company-wide forecast is accurate, reps should review and update their forecasts on a regular basis. 
• Sales managers can use the Manager Forecast Editor to enter override forecasts that roll up into reports viewed by successive levels of your organization.  
• The Manager Forecast Editor uses the judgement and experience of sales managers to know how accurately individual reps report their sales and pipeline. 
• Sales reps cannot see manager overrides to their forecasts. Sales reps continue to work for the best deal they can close regardless of what the manager thinks is a more likely outcome. 

Forecast KPIs and Snapshots 

• With NetSuite you can view real-time forecast Key Performance Indicators (KPIs) and Snapshots on your dashboard. This includes closed sales and recurring revenue as well as the opportunities and quotes in your pipeline. 
• You can show a variety of forecast key indicators and snapshots that provide an accurate view of your forecast numbers.

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Sales Management Snapshots 

You can add sales management report snapshots as dashboard portlets. These snapshots provide real time sales, forecast, and order totals, visible by sales team. 

The following portlets are available: 

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To show sales management snapshots: 

1. On your Home tab, click Personalize Dashboard. 
2. In the Add Content frame, click on Report Snapshots. 
3. Click Sales Management. 
4. Drag the portlets you want to show onto your dashboard. 

Click the icon next to a manager to expand or collapse the sales team. Click a currency amount or the View Report link to open a report relevant to the snapshot. For example, when you click a forecast amount for a sales rep, the Sales by Sales Rep Detail report opens. 

Forecast Reporting 

NetSuite provides extensive Forecast Reports to enable you to manage and report your forecasting data. NetSuite provides the following types of forecasting reports: 

• Accuracy Reports – Forecast Accuracy reports provide another layer of checks and balances that you can use to sharpen your forecast based on past performance. 
• Summary Reports – Summary reports such as the Sales Forecast vs. Quota Report bring together all of your forecast data. 
• Detail Reports – Detail reports provide a granular look at your report data.