QuarterOne Featured in AccountingWEB

by | Feb 7, 2019 | Finance & Accounting, Sales Forecast

CEO & Co-Founder Michael Foulkes, met with Francios Badenhorst, Business Editor for AccountingWEB this week to talk through the idea and creation of QuarterOne plus plans for the future.

AccountingWEB is the largest independent online community for accounting and finance professionals in the UK, being featured by such a significant voice in the sector is a triumph for QuarterOne.

Michael provided the backstory to the idea behind QuarterOne, explaining that he and Co-Founder Richard Mann, had worked in senior financial roles at organisations and both saw the need for a better solution for producing a sales forecast. QuarterOne was created to solve the common frustrations felt by sales and finance teams everywhere by simply using data from the existing CRM to create an intelligent forecast.

Here’s an exert from the AccountingWEB article:

“The founder of QuarterOne, the newest contender in the forecasting space, thinks CRM data is the missing link that has kept the market from flourishing. Could he be right?

“Forecasting, as a finance person, you’re wholly reliant on other people in the business to give you a perspective on how the business is trading,” said Michael Foulkes, the founder of QuarterOne. And he’d know. Before this venture, Foulkes spent over a decade at CFO level for various startups.

His point is also a cogent one: finance teams generally have a view on historic information. From there it’s possible to project outward, but things do move on. Sales people overestimate, projects end, markets change.
AccountingWEB columnist Hugh Johnson once remarked that the half-life of a typical forecast is “no more than 25% of the forecast period”. In other words, unless refreshed, the usefulness of the month’s sales forecast halves within a week of producing it.”
For the full article, click here to view on AccountingWEB.
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Tags: News | press