Creating Forecasts
Configure Forecast Settings
At first, a user with administrator profile has to configure the organization's forecast settings in the Zoho Recruit account. The settings include:
- Target Period of Forecast (Monthly or Quarterly).
- The start month of the Financial year.
- Field values based on which forecast targets are set.
Make sure that you have created the fields based on your business requirements.
To configure forecast settings
- In the Forecast module, click on View Settings.
- Click on Edit.
- Modify the Target Period, Fiscal Start Month, Display Fiscal Year and Target Field as per your requirement.
Note: Forecast Hierarchy cannot be modified. - Click on Save and confirm your changes.
Set up Fiscal Year
The first settings to configure when creating a forecast for the first time, is the Fiscal Year. Depending on your organization's financial cycle, you can specify the month the financial year begins.
To set up Fiscal Year
- Click on
and click Setup > General > Company Details > Fiscal Year. - Select the Fiscal Start Month from the drop down list.
-
Choose Start Month or End Month.
- fvyfyffytClick on Save.
Note:
- By default, fiscal year is configured as January to December.
- Let's say your fiscal year starts in April 2013 and ends in March 2014. If you choose to name the fiscal year based on the start month, the year name will be displayed as 2013 (in reports and other mentions) and if you choose to name the fiscal year based on the end month, the year name will be displayed as 2014.
Create Forecasts
Forecasts are created to help every individual in the sales team, who has opportunities assigned to them and their managers.
Note:
- By default, the person who creates the forecast owns it.
- Forecasts can be created for each quarter of the Fiscal Year.
- You can create forecasts for a specific quarter only once. However, you can modify the existing forecast details.
- You cannot customize the fields in the forecast module.
To create forecasts
- In the Forecast module, click Create Forecast.
- In the Create Forecast page, select the Year and Quarter(or Month) from the respective drop-down lists.
- In the Forecast Details section, specify the following details:
- Enter the Target.
You can also set targets for sub-hierarchies, manager of each sub-hierarchy and individual users in the hierarchy and sub-hierarchy.
The hierarchy can either be Role based or Territory based. - Click on Save.
Associate Forecasts with Other Records
Once the forecast is created, you can add job openings to each month. When the job opening is filled it will automatically appear under forecast history. All the job openings created will show under each individual sales person's monthly forecast list for follow-up.
In the Forecast Details page, the details displayed are:
In the Forecast Details page, the details displayed are:
- List of Job Openings for each month: Displays the list of job openings, the associated clients and the corresponding forecast details for the month. You can also add new job openings to the month.
- Forecast History: Displays the over-all details of the forecast with aggregate Quota, Closed Amount details.
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