The net revenue forecast (NRF) is an automated forecast which pulls in price quote values. It uses job creation and end dates to forecast values across months. It allows you to review actual revenue YTD by client, in line with your forecast and compare your full client outlook to your operating budget/s.
The net revenue forecast is generated from the finance & administration tab > general ledger > net revenue forecast.
NET REVENUE FORECAST NAVIGATION
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NUMBER
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FUNCTIONALITY
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1
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Net revenue forecast options menu allows you to:
Update the selected forecast with the option and keeping manually edited values
Review actions (for sending for review/locking for edits)
Mark the selected forecast as active/inactive
Publish/unpublish the selected forecast
Delete the selected forecast
Add a budget to the selected forecast. Once added the budget will be displayed in the final column.
Remove a budget from the selected forecast
Recalculate the forecast budgets on the selected forecast
Recalculate the inter-company values on the selected forecast
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2
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Create a new net revenue forecast
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3
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Use the drop down to switch between the different net revenue forecasts you have created
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4
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Displays totals by client including
Price quote net revenue
Remaining amount
Previous revenue:
Revenue YTD
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5
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For each month you will either see actuals for previous months and forecast for upcoming months
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6
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If jobs continue into the next year, the remaining following years amount to be carried over to the next year is displayed in the final column
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7
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The bottom panel displays a list of jobs for the selected client. This is where you can manually adjust the forecast
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8
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Allows you to filter the NRF by dimensions, i.e. CRM Status
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Reviewing, editing and approving a revenue forecast is performed by the revenue forecast responsible via a notification in their WorkBook inbox.
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WHO REVIEWS THE REVENUE FORECAST?
The revenue forecast is reviewed by the revenue forecast responsible. This is usually someone who is hands on with the client or job e.g. an Account Manager, Project Manager etc.
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This is automatically populated with a user based on how the revenue forecast is configured in the finance & administration module
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REVIEW THE REVENUE FORECAST
Once the revenue forecast is sent for review, a notification to review the revenue forecast will go to the netrevenue responsible’s WorkBook inbox
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The forecast here is formatted the same way as in the finance & administration module, with client subtotals in the main grid, and details relating to a particular client in the sub grid
Select the client in the main grid (top panel) to see a list of jobs for that client in the sub grid (bottom panel)
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The records that are visible in the sub grid are only those where the user is set to be forecast responsible
In the job tab > select the job you wish to review
Review the forecast
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ADJUST THE REVENUE FORECAST
If an adjustment needs to be made:
Click into the monthly forecast cells
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Type in the revised amount to manually adjust
Click enter
Cells where adjustments have been made will be highlighted in blue to indicate that the automatic forecast has been overwritten
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The client subtotals and the live amounts update as soon as you press enter
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APPROVE THE REVENUE FORECAST
After you have reviewed the record you can then approve it, to show that the record has been assessed and approved.
Click on the for approval icon > select approve
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The icon changes to a green tick indicating that this record has been reviewed an approved
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Some agencies prefer to lock the forecast on a specific time and date as a matter of process
The progress bar in the top right corner demonstrates how many records in your forecast have been approved
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REVIEW, EDIT & APPROVE - PIPELINE
The forecast is pulled from the from pipelines in the CRM module.
Repeat all of the above steps for the pipeline tab (if applicable)
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REVIEW INTER-COMPANY
Inter-company forecasts the revenue impact where revenue is shared across multiple companies.
Go to the inter-company tab to review (if applicable)
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