Forecasting
Forecasting
A Forecast in Asset General is a set of Opportunities that get applied a Probability of Winning at the Opportunity Level.
As a VAR user, you can create as many forecasts as you want and any number of Opportunities can be part of any forecast.
Forecasting on Asset General is implemented as two powerful methods:
Opportunities > Dynamic Forecasting
Dynamic Forecasting is also known as Criteria based forecasting. You can add a new Dynamic Forecast from the Opportunities menu if you have the Opportunities privilege.
You can set the criteria for selecting a set of Opportunities such as a start date of the first date of next quarter. Once you name and save a Dynamic Forecast, Asset General gathers all the Opportunities that match the criteria set and builds and runs the forecast for you. Dynamic forecasts can change based on Opportunity value or Supplier Cost changes as well as Status changes that are caused by other actions such as a Coverage Item being Quoted or Booked.
Opportunities > Ad-Hoc Forecasting
Ad-Hoc Forecasts are different from Dynamic Forecasts in that they require you to add Opportunities to them manually (individually or by batch).
Ad-Hoc Forecasts allow you to add exactly the Opportunities that you want in your forecast and edit them according to your outlook.
These forecast function exactly the same as Dynamic Forecasts in that they will also update based on external actions related to Coverage item, Opportunity probabilities and values.
When you add Opportunities or Deals (see Deal Registration below) you are only allowed to add them to Ad-Hoc Forecasts.
You can Run forecasts from the Forecast Summary Page for the type of forecast you select.
Each forecast you create is also "Run" each day automatically to reflect any updates that have been made to the underlying Coverage, Opportunity for the Forecast Criteria (if any).
Forecast History
When a forecast is run it updates the Forecast History of the Forecast showing you where your predictions are narrowing to the actual as your probabilities and values change over time.
You can graphically follow you progress and see where additional efforts may be needed.
Revenue Pipeline
Forecasts also have a revenue pipeline that is based on the Billing Frequency Criteria of the underlying Opportunities.
These also take into account the Start and End Dates of the Opportunities (pending Coverage) and of course their probabilities.