Forecasting rebates? Here’s 4 challenges you may come across.
Whatever industry you are involved in, forecasting the potential earnings for your business is essential in preparing for the ups and downs of the year ahead. But how do you make decisions about your budget, such as how many employees you can afford to hire or how much you can spend on marketing if you don’t know how much revenue and profit you’ll be generating?
Accurate forecasting and accurate accruals are vital to success within your business to ensure that you are aware of what the future is likely to hold so that you can appropriately allocate resources to assist in key areas. For many businesses forecasting is not a focus and even for those that make a point to forecast their future, various challenges can limit the accuracy and benefit of these forecasts.
With this in mind, let’s dive in to the four common challenges of forecasting rebates.