Forecasting MRR

Adam Metz_4487
Adam Metz_4487 Posts: 7
edited July 24 in Sales CRM #1

Is there a way that we can have our current MRR (from deals that we've already won, plus MRR from deals that are in pipeline calculated together to forecast total future MRR?

Comments

  • Inês Batata
    Inês Batata Admin Posts: 3,155 COMMUNITY MANAGER
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    edited February 24 #2

    Hi @Adam Metz !

    I would use Insights to create a "Performance" type of custom report using the conditions shown in the example below, which you can then parse using your preferred criteria, like Deal Value and Deal Status, for example.

    Hope that helps! 🚀

    image
  • Adam Metz_4487
    Adam Metz_4487 Posts: 7
    edited February 24 #3

    Ines, can you show me how this would be done with 2 closed-won deals from 2019 and 2 net-new deals from 2020?

  • Adam Metz_4487
    Adam Metz_4487 Posts: 7
    edited February 24 #4

    Also, Ines, have you validated with Kirill that this forecasts MRR? Also, we cannot figure out how to add previously closed won MRR deals.

  • Adam Metz_4487
    Adam Metz_4487 Posts: 7
    edited February 24 #5

    Ines, the MRR reporting has a bug. I just filed a ticket.

  • Inês Batata
    Inês Batata Admin Posts: 3,155 COMMUNITY MANAGER
    2500 Comments Second Anniversary 5 Likes First Answer
    edited May 2020 #6
    Adam Metz said:

    Ines, the MRR reporting has a bug. I just filed a ticket.

    Hi @Adam Metz , thank you for letting us know. Our Support team will keep you up to date on the evolution of your case. Do you still need help with your previous questions?

  • Adam Metz_4487
    Adam Metz_4487 Posts: 7
    edited May 2020 #7
    Adam Metz said:

    Ines, the MRR reporting has a bug. I just filed a ticket.

    Defeinitely!

  • Inês Batata
    Inês Batata Admin Posts: 3,155 COMMUNITY MANAGER
    2500 Comments Second Anniversary 5 Likes First Answer
    edited May 2020 #8
    Adam Metz said:

    Ines, can you show me how this would be done with 2 closed-won deals from 2019 and 2 net-new deals from 2020?

    We've created dedicated reports for recurring revenue, so the first thing you'll need to do is of course make sure that you've set up a subscription inside those deals. 

    The subscription start date can be in the past, so it can be set retroactively (I'm thinking of the 2019 deals you mentioned). The deals will be taken into account regardless of being closed as won or still being open.

    To see these reports, go to Progress > Insights, click on '+' symbol next to your Reports tab, and click on either the Recurring revenue or Recurring revenue growth report. 

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    By default, the filter applied will show you all payments due this year, but you can always adjust the filter or add conditions according to how you want to see your data. 

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    For example, if your 2019 deals started their subscription in September, you'd select a custom time period from the calendar like in the image below, and then select if you want to see the values by Month, Quarter or Year.

    image

     

    This way you can encompass a time period that is as broad or as specific as you wish. Check out this article where we also guide you through other types or recurring revenue reports we offer.

  • Inês Batata
    Inês Batata Admin Posts: 3,155 COMMUNITY MANAGER
    2500 Comments Second Anniversary 5 Likes First Answer
    edited May 2020 #9
    Adam Metz said:

    Also, Ines, have you validated with Kirill that this forecasts MRR? Also, we cannot figure out how to add previously closed won MRR deals.

    Hi Adam, please see my answer to your question above. 🙂. Selecting the scope of your time period and the breakdown cadence that you prefer should do it.

  • Inês Batata
    Inês Batata Admin Posts: 3,155 COMMUNITY MANAGER
    2500 Comments Second Anniversary 5 Likes First Answer
    edited May 2020 #10
    Adam Metz said:

    Ines, the MRR reporting has a bug. I just filed a ticket.

    No problem, I've answered under each question to keep it simple.

  • Adam Metz_4487
    Adam Metz_4487 Posts: 7
    edited May 2020 #11

    Hi @Adam Metz !

    I would use Insights to create a "Performance" type of custom report using the conditions shown in the example below, which you can then parse using your preferred criteria, like Deal Value and Deal Status, for example.

    Hope that helps! 🚀

    image

    But Ines, there is NO way to forecast the weighted probability of an MRR deal closing at some point in the future using this report, correct?

  • Inês Batata
    Inês Batata Admin Posts: 3,155 COMMUNITY MANAGER
    2500 Comments Second Anniversary 5 Likes First Answer
    edited May 2020 #12

    Hi @Adam Metz !

    I would use Insights to create a "Performance" type of custom report using the conditions shown in the example below, which you can then parse using your preferred criteria, like Deal Value and Deal Status, for example.

    Hope that helps! 🚀

    image

    Currently weighted probability doesn't cross-reference with recurring revenue, no, but I'll be happy to relay your suggestion to the team. Keep in mind that this feature is being worked on as we speak in order to expand its capabilities.

    You can use weighted probability for "standard" deal value in the "classic" Revenue Forecast Report in the Professional and Enterprise plans.

    image
  • Inês Batata
    Inês Batata Admin Posts: 3,155 COMMUNITY MANAGER
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    edited December 2020 #13

    @Adam Metz Update: Forecast Goals are now available too. Learn all about it here. 🚀

    Pro tips:

  • Bernd Auer www.pd-experts.com
    Bernd Auer www.pd-experts.com Community Driver Posts: 369
    100 Comments 25 Up Votes Second Anniversary 5 Likes
    edited February 25 #14

    Hi @Inês Batata ,

    there is still no way of doing a proper forecast or setting goals for the MRR. Do you know if there is any movement from Dev-Side?

    @adam, did you find a way that suits you?

  • Inês Batata
    Inês Batata Admin Posts: 3,155 COMMUNITY MANAGER
    2500 Comments Second Anniversary 5 Likes First Answer
    edited February 2021 #15

    Hi @Inês Batata ,

    there is still no way of doing a proper forecast or setting goals for the MRR. Do you know if there is any movement from Dev-Side?

    @adam, did you find a way that suits you?

    Hi @Bernd Auer !

    Can you be more specific about exactly what type of MRR Goals you'd like to set? Are they outside the scope showed here?

    Thanks in advance, it will help us undersatnd your use case better.

  • Bernd Auer www.pd-experts.com
    Bernd Auer www.pd-experts.com Community Driver Posts: 369
    100 Comments 25 Up Votes Second Anniversary 5 Likes
    edited February 2021 #16

    Hi @Inês Batata ,

    there is still no way of doing a proper forecast or setting goals for the MRR. Do you know if there is any movement from Dev-Side?

    @adam, did you find a way that suits you?

    @Inês Batata  Yes, the MRR Goals are outside the scope of the normal forecast. The numbers just relate to the deal value not to the subscription revenue.