Demand forecasting can play a key role in the success or failure of your business by helping you to produce – and stick to – your annual budget. Therefore, it’s crucial that you’re using the correct tools for the job. Invest in our demand planning and forecasting software now and you could make 2020/21 a year to remember. You’ll be in a position to:
1) Take Control Of Your Business
Using our forecasting software will help you know your market better. As a result, you’ll predict peaks and troughs in business and adapt your expenditure and income expectations accordingly. You’ll ensure that you always have the optimal amount of stock available and the correct number of staff on board. You’ll therefore be able to fulfil your customers’ orders on time without going over budget. This will relieve some of the pressure that you and your employees are under at busy times, reducing staff turnover and minimising human resources costs.
2) Make The Most Of Your Sales Opportunities
It may be tempting simply to increase your marketing activity when your sales figures are flagging and decrease it when orders are flowing in. However, the most effective way of growing a business is to take a proactive approach. If you use the latest forecasting software, you’ll see when your customers are most likely to buy your products, so your sales and marketing team can be prepared. You’ll be able to work out when to launch new products for the best chance of success. This will allow you to spend your marketing budget wisely and ensure you have enough sales advisors on hand to cope with increases in demand. That, in turn, could lead to more sales and lower acquisition costs.
3) Collect High-Quality Data Throughout The Year
If you’re using an outdated forecasting solution, the information you’re holding may be inaccurate – and that will make budgeting more challenging. You may not be able to work out how much stock you use at specific times of year, for example, or produce reliable business plans and reports. In order to collect accurate and easily accessible data, you’ll need the best forecasting software out there. If you buy our solution now, not only will planning for 2020/21 be simpler, but you’ll have enough information at your fingertips in twelve months’ time to prepare accurate forecasts for 2021/22.
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