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Set up forecast boards

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Naomi Papoushado
  • Updated

Tip

Looking to get started with Gong Forecast? Go here for an overview.

Take the training! Go here to get trained on setting up a board.

Where to go: Deals > Forecast > Forecast updates

Who can do this: You must have "Manage forecast settings" permissions (as assigned by your admin in your permission profile).

Set up forecast boards for every line of business, with each board including all the forecasting categories used. This task is typically performed by someone in SalesOps, RevOps, or a sales leader.

  1. Go to Deals > Forecast > Forecast updates.

  2. Click More-menu.png > Add line of business.

  3. Give the line of business a name and description.

  4. Set up forecast category settings:

    1. In the Target attainment row, choose the CRM field and values you use to measure actuals (actual sales).

      In the board, the Target attainment column shows a measure of rep performance, showing how close they are to their target (sales quota).

      The targets themselves can be added manually or uploaded in bulk.

    2. In the Pipeline coverage row, choose the CRM field and values that represent open deals in the pipeline.

      Click image__93_.png to add additional CRM fields and their values to filter the deals included in coverage.

      In the board, the Pipeline coverage column shows how much coverage there is, that is the total active pipeline divided by the remaining quota to go in the selected period.

      Formula1.png

    3. For each category you use to forecast:

      • Click ADD COLUMN and set the CRM field and values you use in that category.

        Tip

        Leverage filters to differentiate deals shown for each category across lines of business, e.g. "New business" vs "Renewals".

      • Click image__93_.png to add additional CRM fields and their values to filter the deals included in each category.

      • Click more_menu.png and select Autofill (block editing) to automatically fill the forecast with the total value of deals in this category in your CRM.

        Note

        When this option is turned on, people cannot edit their forecast number and aren't alerted to update their forecast for the category.

      In the board, each category shows the dollar value and number of open deals that make up the category.

  5. Set the advanced settings:

    1. Select the forecast period that you forecast for in your org. Select Monthly, Quarterly, or both Monthly and quarterly.

    2. Select Autocalculate quarterly totals to get us to automatically calculate the quarterly forecast number for each category from the actual number landed on for closed months plus the forecast number for open months in the quarter.

      target-attainment.png

      This action locks the quarterly number so that cannot be edited. The only way to change this number is for reps or sales leaders to change the forecast number in open months.

      Tip

      The actual total of closed-won deals is always shown in green for each month in the quarterly view drill-down. This number shows the total for closed-won deals, the definition of which is set by you for target attainment (step 3a, above).

    3. In the Show deals by date dropdown, select the CRM date field by which to show deals in the forecast board and associated deal board.

    4. In the Amount dropdown, select the CRM amount field by which to show deals in the forecast board and associated deal board.

  6. Set your forecast cadence, that is, when reps and sales leaders should update their forecast numbers.

    We use this time as a trigger notifications reminding reps and sales leaders when it’s time to roll up forecast numbers.

  7. Set your forecast snapshot time, that is, when you lock in forecast numbers for the week, and we should snapshot your forecast numbers.

    Typically, this is a time right before the weekly management forecast meeting.

    We use this time to show you changes in your forecast trends, week over week.

    Note

    People can change their numbers at any time. The numbers taken at the time of the snapshot will be used to calculate progress.

  8. Click SAVE.

    People with forecasting permissions can now see the forecast board representing their reality. Get to know the forecast board.

    We also automatically generate a deal board named Forecast Board - Generated, visible in Deals > Pipeline, which your team can use to for pipeline reviews ahead of updating forecast. This board can only be edited by editing forecast board and forecast warning settings.

    Tip

    To edit the board settings, select the line of business in the Forecast updates tab, and go More-menu.png > Forecast settings.

  9. Next:

    • Set warnings on deals for forecast

    • Hide teams that don't need to forecast for this line of business in the forecast board.

      If you don't remove them, they'll get reminders to update their numbers for this line of business.

      • Next to the name of the individual or team manager you want to remove, click More-menu.png > Hide from view.