We just ran a short survey with the 20 CFOs coming to an event we are running and asked them what they used to produce sales forecasts. It was an open question with no prescribed answers. Participants ranged from Series A Venture backed businesses to FTSE 250 companies.
- 17 of the CFOs use Microsoft Excel to produce their forecasts taking information from multiple sources. (Some of these organisations mentioned taking information from sources such as Salesforce – one commented that they wouldn’t want that sort of analysis loose in cloud).
- 2 of the CFOs use Salesforce to produce forecasts (although one of these was just using it for the first time so wasn’t able to comment on how easy she found it).
Made us wonder:
- Do CFOs get the cloud?
- Is Microsoft Excel still the de facto standard for sales forecasting activities or will Saleforce win this battle in the next couple of years?
- Are there are any other good forecasting options for CFOs of growth businesses?