Gong Forecast now delivers up to 20 percent greater accuracy in determining deal outcomes than traditional forecasting models
More than 300 buying signals inform precise forecasting model
SAN FRANCISCO – November 9, 2023: Gong, the Revenue Intelligence leader, today announced new, enterprise-grade enhancements to Gong Forecast, its AI-powered forecasting and pipeline management solution. By bringing the understanding gained from more than 300 buying signals across more than three billion customer interactions captured on the Gong Revenue Intelligence Platform, teams can drive more accurate forecasts and deliver predictable revenue on a single, AI-powered platform.
The process of quarterly forecasting and reporting for business leaders has mostly stayed the same over decades. Decision-makers – including CEOs, CFOs, CROs, and VPs of Sales – are tasked with reporting a prediction on revenue to their stakeholders and the market that is within five percent of the actual outcome. However, in recent years, revenue teams have grappled with organizational changes and unpredictable buyer behavior, and it has become increasingly challenging for revenue leaders to empower teams with the insights needed to call accurate forecasts, effectively manage their pipeline, and hit their numbers. According to Gartner, 67% of sales operations leaders agree that creating accurate sales forecasts is harder today than three years ago. At the same time, 78% of RevOps and Sales leaders say they lack the correct data to forecast accurately.
“Predictions about the trajectory of the business and its impact are essential to a revenue leader’s role,” said Amit Bendov, CEO and co-founder, Gong. “But not all predictions are created equal. A core baseline understanding of the true risks and opportunities within the pipeline is critical to making accurate predictions that have a positive impact on the business. We built Gong Forecast to address those gaps in understanding so companies can rely on a complete picture of what’s happening within their pipeline to run their business with greater accuracy.”
AI-based forecasting built on Revenue Intelligence Platform
Bringing a deep understanding of what is truly discussed with customers over email, video or phone, Gong Forecast sets a new bar for delivering highly accurate, reliable forecasts, especially in turbulent times. By infusing Gong’s unique and comprehensive approach to AI, customers can more seamlessly run their forecasting workflows on a single automated platform. Leaning heavily on the understanding gained from billions of customer interactions, as well as insights specific to the customer, such as key personas involved in a deal, Forecast delivers greater accuracy, actionability on deals, and accountability to provide a clear and reliable picture of a revenue organization’s health, and help teams make decisions on where to invest the most effort in real-time.
“At WalkMe, forecast accuracy is a critical part of the job for our sales reps and their managers,” said Sunil Panda, VP Global Revenue and Sales Operations at WalkMe. “We use Gong to give our team the data and tools they need to truly understand what is driving their forecast and deal outcomes. With the more complete insights delivered by Gong Forecast, we are able to provide this data and raise the bar for our revenue organization.”
By aggregating precise deal predictions – based on an analysis of more than 300 buying signals – across the entire pipeline, Gong is able to forecast revenue outcomes with high degrees of accuracy. Whereas traditional forecasting solutions rely on CRM data entered manually to predict a number, Gong leverages positive and negative signals to drive insights that can help teams identify and address issues early to maximize revenue opportunities. For example, Gong automatically tracks discussions around pricing, legal review, and whether competitors are mentioned in the appropriate stage of a deal, and uses those in scoring deals and creating an overall forecast.
Gong Forecast is currently available to customers. To learn more, read the blog.
Gong transforms revenue organizations by harnessing customer interactions to increase business efficiency, improve decision-making and accelerate revenue growth. The Revenue Intelligence Platform uses proprietary artificial intelligence technology to enable teams to capture, understand and act on all customer interactions in a single, integrated platform. Thousands of companies around the world rely on Gong to support their go-to-market strategies and grow revenue efficiently. For more information, visit www.gong.io.