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Mastering the Sales Forecast: The Evolving Role of Finance

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Mastering the Sales Forecast: The Evolving Role of FinanceJohn McGuigan, Global Inside Sales Leader, Regulatory DataCorp.

Define the Sales Process

• Mileposts/Tollgates– Events that define the sales process(s)– What qualifies a deal to be in Contract Stage?

• Criteria for exiting a sales stage and moving to the next– Does your team know what they need to move to the

next sales step?

• Match to CRM– Sales methods change does your CRM keep up?

Communication

• Provide the sales management and team with expectations– Does everyone know their expectations

• Allow finance to see the ‘ugly’ side of sales– Sit in on a deal review call– Invite to portions of a QBR

• Sales Management feedback loop from Prospects

Analysis

• Start by looking back– What do wins have in common from a sales stage

perspective?– How long does a deal spend in a stage? (win vs. loss)

• Use the data to look forward

• Arm your sales management with the tools and data

Sales Compensation

THE Root of It All!

Finance Perspective

Sales Perspective

Keys to a Good Compensation Plan

• Transparency– Sales reps should know what they will make on a deal

before it closes– When payments will be made– Changes to the plan ahead of time

• Alignment– Reward the behavior you want from the sales team– Create parts of the plan to move the business in the

direction you want it to move– Under/over paying for good/bad performance

Mastering the Sales Forecast: The Evolving Role of Finance

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