Get Started with Collaborative Forecasts
- Explain why sales teams use forecasts.
- Enable the Collaborative Forecasts feature.
- Add a Forecasts tab so your users can easily access the forecasts page.
- List the available forecast types.
Lauren Cheng, the Salesforce admin at Rollings Tech, has a problem she hopes she can solve ASAP. Her team uses spreadsheets and handwritten notes to track sales forecasts. Each sales period, Nigel Roberts, the forecast manager, has to update and collate all those separate documents, which creates a disconnect from Salesforce and causes documents to be outdated quickly.
As you can imagine, that’s not very efficient.
Nigel has asked Lauren to find a better way. Lucky for Lauren and Rollings Tech, it’s Collaborative Forecasts to the rescue!
What Are Forecasts, Anyway?
Glad you asked. Forecasts are expressions of expected sales revenue. They help sales teams predict and plan their sales cycle from pipeline to closed sales, and to manage sales expectations throughout the company.
In Salesforce, a forecast is based on the gross rollup of a set of opportunities. Forecast amounts are determined by factors such as time period, forecast type, adjustments, and currency. You can think of a forecast as a rollup of currency or quantity against a set of dimensions: owner, time, forecast categories, product family, and territory.
Predicting Sales with Collaborative Forecasts
- Best Case
You base forecast amounts on opportunities, opportunity splits, or product families. For most forecast types, you can base forecasts on revenue or quantity. For the opportunity revenue and quantity forecast types, you can base forecast amounts on close date, schedule date, or product date. And you can enable up to four forecast types at a time.
Forecast users can view their own amounts or amounts of others below them in the forecasts hierarchy. They can view quotas and quota attainment information. And they can change many aspects of the forecasts page display, such as the currency and the time period.
Lauren ’s sold! She decides to implement Collaborative Forecasts for her team right away.
Let’s Turn It On
Lauren is ready to get her team set up on Collaborative Forecasts. First, she turns it on.
From Setup, enter Forecasts Settings in the Quick Find box and
select Forecasts Settings.
- Select Enable forecasts and click Save.
Add a Forecasts Tab
Lauren turned on Collaborative Forecasts, but if her team can’t access the forecasts page, it won’t do them any good, will it? So next, Lauren adds a Forecasts tab and makes sure its visibility is set to Default On.
First, use App Manager to add a Forecasts tab. Here’s a refresher on how to add a tab.
- In Setup, type App Manager in the Quick Find box and select App Manager.
- For the Sales app, click the down arrow and select Edit. (Be sure you are working with the Lightning app.)
- Click Navigation Items and choose Forecasts. You might want to reposition it so it’s near the top of your list.
- From Setup, enter Profiles in the Quick Find box and select Profiles.
- Select Custom: Sales Profile and then Edit.
- Scroll to the Tab Settings section.
- From the picklist next to Forecasts, select Default On.
- Click Save.
Enable Forecast Types
|Forecast Type||Hierarchy||Date Type||What the Rollup Is Based On|
|Opportunities - Revenue||Role||Close date||The opportunity’s Amount and Close Date fields|
|Role||Product date||The opportunity products’ Total Price and Date fields|
|Role||Schedule date||The product schedule’s Revenue and Date fields|
|Territory||Close date||For each opportunity that’s assigned to a territory, the opportunity’s Amount and Close Date fields|
|Opportunities - Quantity||Role||Close date||The opportunity’s Quantity and Close Date fields|
|Role||Product date||The opportunity products’ Quantity and Date fields|
|Role||Schedule date||The product schedule’s Quantity and Date fields|
|Product Families - Revenue||Role||Close date||The sum of the Total Price fields for all opportunity line items in a product family. Forecast amounts are separated by product family.|
|Territory||Close date||For each opportunity that’s assigned to a territory, the sum of the Total Price fields for all opportunity line items in a product family. Forecast amounts are separated by product family and then territory.|
|Product Families - Quantity||Role||Close date||The sum of the Quantity fields for all opportunity line items in a product family. Forecast quantities are separated by product family.|
|Opportunity Splits - Revenue||Role||Close date||The opportunity Amount field and each sales team member’s split percentage. For Opportunity Splits - Revenue forecasts, the split percentages for each opportunity must total 100%. To use opportunity splits forecasts, enable Opportunity Teams, Opportunity Splits, and the Revenue split type.|
|Overlay Splits - Revenue||Role||Close date||The opportunity Amount field and each overlay sales team member’s split percentage. For Overlay Splits - Revenue forecasts, the split percentages don’t have to total 100%. To use overlay splits forecasts, enable Opportunity Teams, Opportunity Splits, and the Overlay split type.|
|Custom Opportunity Currency Field - Revenue||Role||Close date||The amount in the custom opportunity currency field that you specify. To use custom opportunity currency field forecasts, Opportunity Teams and Opportunity Splits must be enabled. Enable a custom split type for the field, even if you don’t intend to split credit for the field amount.|
|Expected Revenue - Revenue||Role||Close date||The amount in the opportunity Expected Revenue field. To forecast on the Expected Revenue field, enable Opportunity Teams and Opportunity Splits. Enable a custom split type for the field, even if you don’t intend to split credit for the field amount.|
Lauren also chooses the Software and Hardware product families to show on the forecasts page, because those are the two that Nigel wants to forecast on. Rollings Tech already has the Software and Hardware product families set up in Salesforce. (Again, these product families do not automatically appear in your Trailhead Playground. Some extra setup is required.)
To add a forecast type:
- From Setup, enter Forecasts Settings in the Quick Find box and select Forecasts Settings.
- Click +Add another forecast type.
- From the Forecast Type picklist, choose Product Families.
Select Revenue as the forecast measurement.
From the Available Product Families list, choose the product families your team wants to
forecast on and add them to the Selected Product Families list. For Rollings Tech, Lauren
chooses Software and Hardware and then moves Software to the top of the list.
Under Select Fields to Show in the Opportunity List, choose the columns to show in the
related opportunities list on the forecasts page for the forecast type.
- Opportunity Name
- Account Name
- Forecasted Amount
- Close Data
- Probability (%)
- Forecast Category
- Owner Full Name
- Click OK, then Save.
Now it’s time for you to try!