What are the benefits of sales forecasting in my business plan and which tool supports the same?

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Answer
Vinayraj Bangera
Vinayraj Bangera
  • Answer written
  • 2 Years ago

Sales forecasting is the process of determining what your future sales will be and is a key element of any business plan, which you must compose if you’re starting a venture or making significant changes within an existing business. Base your forecasting on your history, which will come from your accounting summaries by a line of sales. This takes much of the guesswork out of the process, showing you exactly what your business has achieved in customers, units and sales.
LivePlan supports all popular forecasting options including subscription revenue, individual product sales, hourly rates, and more. LivePlans unique “drag and drop” interface makes creating budgets and forecasts easy. Just click and drag to create your budget, and see how your budget and forecast changes with the seasons. It also helps you create the monthly and annual budgets you need for your business plan.


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