Revenue Forecasting Gets an Upgrade

Revenue Forecasting Gets an Upgrade in Time for the Holidays

It’s that time of year again, and whether you’ve hit your end of year sales targets or not, there’s always room for improvement. To be able to boost revenue, you need to be able to track and predict progress while there’s still time to change course.

That’s where Pipedrive’s Revenue Forecasting features come in handy.

Using Pipedrive to track, forecast, and boost revenue

There’s something for everyone when it comes to our handy forecasting tools. Depending on your plan, you’ll be able to take full or partial advantage of Pipedrive’s ability to track your future progress based on your current results.

Revenue forecasting as a Silver or Gold user

Setting realistic yet ambitious revenue targets is an important part of being a great sales manager. That is why Pipedrive’s forecasting features aim for a simplified view of data that is as accurate as possible.

Ensure accuracy with stage and deal-specific probability

While it’s easy to factor revenue from won deals into your forecasts, it’s trickier to account for deals that are not quite there yet. This shouldn’t keep you from estimating your current progress towards your goal, which is why we incorporate probabilities to make this calculation.

 

Deal-specific probability is based on the likelihood of that deal being closed, and adjusts your revenue based on this percentage. Stage probability factors in how likely deals will be closed based on where they are in your pipeline, and is applied to deals without deal-specific probability set.

Note that for deals with both probabilities in effect, deal-specific probability is used instead, since it’s the most accurate statistic when forecasting your revenue. This makes the end result a tailored forecast on the unique probabilities determined by your own expert insights.

A simple yet informative forecast view

Pipedrive doesn’t do complex spreadsheets and frilly graphs, and our forecast view cuts to the core of your data.

By showing you exactly how far along your deals are, you can compare real-time progress with the expected close date you configure. The drag and drop style makes it easy to point out which deal close dates need adjusting, making your projections as accurate as possible.

 

PRO TIP: When setting stage probability, deal-specific probability, or expected close dates make sure you are as conservative as possible. Being overly optimistic when it comes to numbers, although great when selling, is a recipe for disappointment. See more pro forecasting tips here.

The new revenue forecast features for Platinum users

In addition to all the cool features on the Silver and Gold plans, Platinum users get some extra revenue forecasting tools such as advanced reporting and a nifty widget to add to their statistics dashboard.

The benefits of revenue forecasting reports

Reporting may not be the flashiest part of sales, but it’s a necessary evil if you want to have a clear view of where you’re headed financially and, most importantly, be able to change course if needed.

In Pipedrive, revenue forecasting reports take into account the deals won and open deals. The contribution of open deals to the cumulative revenue is adjusted based on deal probability, which we covered earlier, making the predictions clear and accurate.

PRO TIP: The more accurate your probabilities are, the more accurate your forecasts will be. It all starts with understanding and estimating your team’s ability to close, and using that knowledge to realize their full potential.

Introducing the all-new revenue forecasting dashboard widget

As a Platinum user, you can also add a revenue forecasting widget to your statistics dashboard for an even quicker way monitor your goal progress. Keep an eye on your current status, and compare it to the goal of your period in a single, simplified widget view.

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Seda Sahradyan

Seda is a Product Manager at Pipedrive.

  • lqigabriel

    It is a pity that users like me who are in Gold have made us less for this update (The new revenue forecast features for Platinum users), in my case I’m just a user user but no less important. The Platinum price is too expensive for a single user.

    • Christopher

      Hi there,

      Of course you are just as important to us as everyone else!

      Platinum plan is meant for larger teams and the features which will be added there will be suited to larger teams and not smaller ones in most cases.

      We will continue to strengthen both Silver and Gold Plans.

  • Rune Hagbartsen

    This pricing policy will make Pipedrive loose customers. We are now considering to move to a different platform.

    • Christopher

      Hi Rune,

      There hasn’t been any change in pricing policy for over a year.
      This upgrade is just strengthening the Platinum plan for larger teams.

      We are continuously adding new features to Silver and Gold plans and will continue to do so.

      • Rune Hagbartsen

        The challenge with the existing price model is that we need to increase the yearly payment from 2.880 to 24.000 to get access to the revenue forecast feature.

        • Christopher

          Hi Rune,

          The Revenue Forecast feature is available in the Sllver and Gold plan. The Platinum plan just gives you some extra reporting.

          No pricing has been changed and nothing has been taken away from the other plans.

          • Rune Hagbartsen

            It is the “extra reporting” that is needed. But not at all worth the huge price difference

          • Christopher

            I’m sorry you feel that way but I hope the new features and upgrades being added to the Silver and Gold plans can keep you with us.

      • Marechal Golfinho

        I would not mind paying more for the service if it really brought usefull updates and not those non-prioritary stuff … I really like Pipedrive but I feel so sorry that your developers are unable to manage to prioritize so simple missfeatuers on the system … there is so many silly errors and missing basic features… such as permissions for editing deal/org/ppl owner…

        • Christopher

          Hi Marechal,

          This is just one small feature and all plans will see some useful additions in the very near future.

          We would love to know what you think is missing!

    • aikdeveneijns

      Fully agree to this… the fact that there has not been a proper export / sync of the weighed pipe to date is a disgrace. That you now decide to launch it into the Platinum package (at €750 per year per user!!) adds insult to injury.
      We will be doing the same; no way we are paying over €2k for 3 users.

      • Christopher

        Hi there,

        Thanks for your feedback.
        I will reiterate that this is just a small upgrade to the Platinum plan. The Revenue Forecast view is still available to Silver and Gold users and you do not need to upgrade.

        Can you explain more about the export/sync of the weighed pipe.
        What exactly do you need?

        • aikdeveneijns

          be able to export all this easily to a google sheet or geckoboard

  • Neil

    Unfortunately the reporting and export of data is pipedrives biggest weakness, the fact that data exists but you cannot export it into excel (or whatever) just rubs the salt into the wound.

    I like the ease of use and the general data entry features but the reporting functionality is very poor.

    • Seda Sahradyan

      Thanks a lot for your feedback!

      We do agree that exporting the reports is important and I am happy to let you know that it is already planned as one of our upcoming developments.

      In the meantime, if you would like to export the deals related data from the reports then select the value in the report table that is located under the chart and then click on the “wheel” icon (on the upper-right corner) in the appeared modal. There you will find the “Export statistics result” option.

      I hope that helps for now 🙂

      • Bart Jutte

        I agree with Neil,
        Exporting is of big importance as I need to combine different data sources to get a complete overview of the online sales. I use Tableau, so basically any proper export will do, excel, MySQL etc.
        Besides that: e-mail templates that you can schedule and where you can include fields of PipeDrive will reduce my workload a lot and are core for any CRM system, so my advice would be to concentrate on these features…

  • Bill Cameron

    Hi Christopher,

    Is it possible to spread revenue for a deal over a number of months? Almost all of our deals are based on progress payments, and some can take years.

    Recurring revenue for deals would also be handy, for our subscription customers.

    Thanks for the update.

    • Paula Mackey

      This is something that we are looking for as well. The majority of our deals are multi-year deals with multiple products. We are looking for something that can show us the breakdown of when the revenue will be earned and for which product lines.

      In the Product Feature you are able to set a value for the duration. Could that be used to extrapolate how the revenue will be spread out over the length of the deal? I would also like to be able to export the revenue data

      Also, I would love to be able to export deal data on a multiple products at once, including the duration and unit values.

      • Neil

        could you please post what the workaround is as a blog, video or something. must be a better solution that everyone instant messaging your support team.

        Also same as Paul, being able to export multiple products is a feature I need. very frustrating that you can do it with one deal but not all deals in a single report. i actually dont undertsand why this is a challenge as the data all exists in what I assume is a DB of some sort.

        • Neil

          sorry Paul, meant to send this to christopher

          • Neil

            Paula, apologies got your name (and gender) wrong. not a good Sunday evening 🙁

        • Christopher
          • Jacob Margolin

            How does the workaround help with forecasting recurring revenue? This would be a deal breaker for us as most of our revenue is recurring. For example, we may sign a deal for 36 months with a monthly revenue of $X. There doesn’t seem to be a way to put that in the forecast.

          • Michael

            Hi Jacob.

            I would strongly encourage you to reach out to our support team to further discuss this topic.

            That being said, the workaround will result in your recurring revenue appearing in the forecast. Essentially what you’re doing is turning that single deal into 36 deals, each with a close date of the month in which you want that revenue to be earned. The forecast will then display each of these deals, along with their value, according to their (future) won time, or expected close date.

            We will come up with a more direct solution for recurring revenue in the future though, as we admit there is room for simplification here!

    • Christopher

      Hi Bill,

      We don’t have a solution for this at the moment but we do have a workaround which is too long to explain here.

      If you can contact our support team using the in-app chat, we can show you an option or two.

      • Neil

        could you please post what the workaround is as a blog, video or something. must be a better solution that everyone instant messaging your support team.

        Also same as Paula below, being able to export multiple products is a feature I need. very frustrating that you can do it with one deal but not all deals in a single report. i actually dont undertsand why this is a challenge as the data all exists in what I assume is a DB of some sort.

      • Bill Cameron

        Will do thanks Christopher.

  • Mauro Gesti

    I would like to have the possibility to modify and customize the dashboard with the filed/statistics that I prefer to see immediately. There are fields which I’m not using like email incoming or sent and It would be very useful if you give me the possibility to customize the dashboard with my favorites statistics or fields.

    • Christopher

      Hi Mauro,

      Thanks for the feedback!
      We will add more customisation to the dashboard in the near future 🙂

  • Tomas Fistzen

    Hi! Is it possible to divide total income from one business into two or more payment dates? My customers normally pay half in advance and the rest in 2 or 3 times. Thanks.

    • Michael

      Hi Tomas.

      Thanks for the question.

      In Pipedrive, the only event that produces income is when one marks a deal as ‘won’. Therefore, you can divide total income into however many increments you want by creating and winning a new deal on each payment date. We have a support article with ideas about how to manage this efficiently and systematically, which can be read here: https://goo.gl/6JV7gj .