Quantzig’s Sales Forecast Solution Helps a Leading Financial Services Provider Anticipate Future Sales and Improve Profit Margins
Financial Services Industry Overview
The financial services industry comprises of several organizations including insurance companies, commercial and investment banks, and consumer finance firms. Today, the rise of digital technology has dramatically transformed the landscape in the financial services sector. The financial services industry is also beholding a transformation toward a consumer-centric environment to increase market liquidity and reduce business leverage. Financial services companies are now increasingly focusing on developing enhanced strategies to reshape business portfolios to enhance their product and service offerings.
Types of Financial Services
- Banking – An individual can deposit his/her money and can get a return in the form of interest.
- Insurance – An individual in the event of any mishap can get his/her money back from the insurance companies.
- Stock market – By investing the funds into the stock market, the individual can get dividends and capital appreciation.
- Mutual funds – With mutual funds, an individual can get stable returns.
Sales Forecast Methods: Why is it Important?
Sales forecast helps businesses gain better visibility into the real-time sales data and improve sales predictability through fine-tuning the forecast accuracy. Accurately forecasting your sales and building an effective sales forecast template can help you to avoid unexpected cash flow problems and manage your production, staff and financing needs more efficiently.
Sales forecast methods include:
- Qualitative forecasting – An approach to forecasting that is based on an intuitive or judgmental evaluation.
- Quantitative forecasting – An approach to forecasting where past demand data is used to predict future demand.
- Graphical forecasting – Use of visual information to predict sales patterns.
- Trend forecasting – Methods for forecasting sales data when a definite upward or downward pattern exists.
Want to know more about the sales forecast methods? Continue reading to know how sales forecast template helps a financial services industry or request a FREE proposal.