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    Dynamic Forecasting Screen
    • 18 Sep 2024
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    Dynamic Forecasting Screen

    • Updated on 18 Sep 2024
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    Article summary

    The Dynamic Forecasting screen is a user-friendly interface for inputting, managing, and analyzing forecast data. It provides a ticket-level dashboard showcasing forecasted revenue, labor hours, and material costs annually. Customizable filters cater to various revenue structures and verticals.

    Use the Dynamic Forecasting tool to ensure accuracy and efficiency in Dynamic Forecasting by replacing manual processes with automation. Seamless data export to Excel maintains compatibility with existing workflows, empowering you to conduct further analysis and make informed decisions.

    Requirements

    Role permissions within the System Settings > Administration > User Management > User Roles > Work Tickets section will govern access to the Dynamic Forecasting tool.

    • View permission:
      • View Dynamic Forecast
    • Edit permission:
      • View Dynamic Forecast
      • Edit Dynamic Forecast

    Screen capture of the Revenue Forecasting screen on the Work Tickets area.

    The Dynamic Forecasting screen includes three main grids with independent details: Revenue, Hours, and Materials. Select each view from the corresponding tab in the top menu. Default views include select fields with additional optional fields that you can select.

    Use the search bar to filter by specific opportunity names, service types, property names, or division details. Next to the search bar, use the year filter to display past, current, or future years.

    Each row in the tool represents a single work ticket, focusing solely on work order tickets. Forecasting occurs on an annual basis, displaying 12 months at a time. Select a cell to edit the data. Past months are locked from editing on the first day of the next month when the forecasted values change to actual values.

    Columns that are displayed by default in the grid view:

     

    Column Position

    Fields

    Left Default

    Opportunity number and name, Work ticket number, and Service name.

    Right Default

    For the row, displays the total estimated:

    • Revenue on Revenue tab.
    • Total hours on Hours tab.
    • Materials cost on Materials tab.

    Select the Arrow icon to expand the Estimates data to further drill into columns for Earned and Remaining data.

    Middle Default

    This section displays data based on the selected tab and year filter:

    • Revenue tab: Shows forecasts entered as a percentage of the estimate in dollar amounts.
    • Hours tab: Displays forecasts entered and shown in hours.
    • Materials tab: Forecasts entered as a percentage of the estimate are displayed in dollar amounts.

    To edit a value, simply select the cell. The yearly breakdown is structured as follows:

    • Past year (12 months): Months are locked and display actuals.
    • Current year (12 months): Past months show actuals, while current and future months are editable for forecasts.
    • Future year (12 months): All months are editable for forecasts. For future months, you can select a cell to edit revenue percentages, allowing for more precise planning of revenue, labor hours, and material spend. Use this feature to flexibly adjust forecasts as new information becomes available.

    Tip:
    If you attempt to enter an amount that exceeds the estimate, a warning icon will display, indicating the amount by which you are exceeding the estimate. 

    When working in the material or revenue grids, you cannot enter percentages greater than 100.

    For the current month, a tooltip will display the actual value and the difference between the actual and the estimate.

    With your cursor over the column headers, select a menu that displays next to the title to add additional optional fields. Select the horizontal line menu to configure the column display. Choose to pin the column to the left or the right, autosize one or all columns, or reset the column configuration to the default.

    The following optional fields are available from the vertical line menu:

    • Left Optional: Property Name, Branch, Division
    • Right Optional: Actual, Remaining


    Hover over a month to display a tooltip that contains the following information:

    • Current Month: Displays an arrow and percent indicating the difference between the actual and forecasted amounts.
    • Past Months: Displays an arrow and percent indicating the difference between the actual and forecasted amounts.

    Select Export to export data to an Excel spreadsheet. The export includes all columns and all rows, hidden or not. Past months will include forecasted and actual values.

    Example

    For a work ticket with a price of $10,000, 100 hours, and $3,000 material spend, the forecast for January (25% revenue, 25 hours, $1500 material spend), February (25% revenue, 50 hours, $1500 material spend), and March (50% revenue, 25 hours, no material spend) would be displayed as follows:

    • Revenue View: January: $2500, February: $2500, March: $5000
    • Hours View: January: 25, February: 50, March: 25
    • Materials View: January: $1500, February: $1500
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