How nVent
Transformed Its
Forecasting Process
The Benefits
Managing revenue schedules is now 75% easier
Reduced sales team effort in managing revenue schedules by 75%.
With reduced effort, forecasts are much timelier and more accurate resulting in better financial performance visibility.
Changes in forecasts are near real-time and allow for better demand forecasting resulting in reduced inventory costs and missed shipments.
The Challenges
'Almost half of our time was spent re-casting...'
nVent struggled with spreadsheets to manage future revenue and demand for product.
Separating run rate and pipeline forecasts was a challenge.
The sales and project planning teams were spending up to 30-40% of their time re-casting project plans and numbers related to new deals and ongoing run rate business.
The Solution
revVana Plan & revVana Insights
revVana Plan was implemented to replace cumbersome spreadsheets and provide volume planning per project. The upcoming demand is used to forecast both revenue and demand of product.
revVana Insights was implemented to manage the analysis of both run rate and opportunity-based forecasts in one location.
nVent Lenton division is a global manufacturer of products and solutions for the commercial construction industry. Specializing in advanced mechanical rebar splicing solutions.
Location: Global
Employees: 2,000+
Industry: Manufacturing
Salesforce Products: Sales Cloud, CRM Analytics