The SalesWIP is added to your corporate instance of Salesforce.com by your Salesforce administrator, and from that moment – all the functionality of the SalesWIP appears as “resident functionality” in your CRM. It works seamlessly in both Classic and Lightning editions.

It is a graphic way to forecast, by allowing the sales professional to choose from among various icons depicting how they know (or suspect) revenue from their opportunity will come in. SalesWIP does allow the user to click on an individual month and drag that total up or down…which causes the total to change!  Check out the video about revenue profiling

YES! If the opportunity is dependent on one or several products, the SalesWIP can generate individual and if necessary different revenue profiles for each product – starting and ending in different months.  

It is a statistically accurate way to create forecasts based on events (sales opportunities) which each have a unique probability of happening (0-100%).  See this video for more info about Monte Carlo Simulations

It yields not just a forecast number, but also provides a confidence factor of hitting that forecast.

Examples:

1. Forecast number with/out Monte Carlo:  $1,250,000 November
2. Forecast number with Monte Carlo: 82% probability of meeting or exceeding $1,250,000 November

Coming Soon! The SalesWIP is designed as a “plug-in” and at the moment only “plugs-in” to Salesforce.com. However, we’ve heard from a lot of folks and will be launching interfaces with other CRMs shortly after getting some traction with Salesforce.com users. If your company does not use Salesforce.com but has 250+ potential users, please reach out to us and schedule a conversation at support@saleswip.com.

New users only need the demo and a couple of tries at entering and profiling opportunities to be proficient at Revenue Profiling. Although most people don’t need too much more to run Monte Carlo Simulations, it may take just a little more time to become proficient. Regardless, training consists of VIDEO demos on this website, super-user support within your company, and live training demos and webinars available as requested by your company.

While CRMs often provide some level of forecasting, they often amount to simply “dividing by 12”…or spreading the expected revenue over the next year. Very few if any other CRMs enable Monte Carlo simulations on the sales opportunity pipeline.

Great point! The SalesWIP is especially useful for companies which have a sales cycle lasting more than 3 months, manage sales pipelines in some form of currency such as US$$ (not volume), and where revenue comes in over time – not in one big burst. Also, keep in mind the SalesWIP is for future revenue from expected opportunities, NOT existing contracts with existing customers! That information would be more readily available from your ERP System.