How To Calculate Pipeline Coverage in Odoo ERP | Arithmix
Learn how to calculate pipeline coverage in Odoo ERP with our step-by-step guide. Improve your sales forecasting and decision-making process with this essential tool.
Calculating pipeline coverage is an essential task for any business that wants to stay on top of its sales performance. It is a metric that helps you understand how many deals are in your sales pipeline and how likely they are to close. In this article, we will discuss what pipeline coverage is, why it is valuable to calculate it, and how to do it effectively.
What Is Pipeline Coverage?
Pipeline coverage is a metric that measures the ratio of your total pipeline value to your sales target. It helps you understand how much revenue you can expect to generate from your sales pipeline and how much work you need to do to reach your sales target. The higher your pipeline coverage, the more likely you are to achieve your sales target.
To calculate pipeline coverage, you need to know your total pipeline value and your sales target. Your total pipeline value is the sum of the potential revenue from all the deals in your sales pipeline. Your sales target is the amount of revenue you want to generate in a given period, usually a month or a quarter.
When Is It Valuable To Calculate Pipeline Coverage?
Calculating pipeline coverage is valuable in several situations. For example, if you are a sales manager, you can use pipeline coverage to track the performance of your sales team. You can see how many deals they have in their pipeline and how likely they are to close. This information can help you identify areas where your team needs to improve and provide coaching and training to help them close more deals.
Another situation where pipeline coverage is valuable is when you are trying to forecast your revenue. By knowing your pipeline coverage, you can estimate how much revenue you are likely to generate in the future. This information can help you make better business decisions and plan for the future.
How To Calculate Pipeline Coverage
To calculate pipeline coverage, you need to follow these steps:
- Calculate your total pipeline value by adding up the potential revenue from all the deals in your sales pipeline.
- Determine your sales target for the period you are measuring.
- Divide your total pipeline value by your sales target.
- Multiply the result by 100 to get the percentage of pipeline coverage.
For example, if your total pipeline value is $100,000 and your sales target is $50,000, your pipeline coverage is 200%. This means that you have twice as much potential revenue in your pipeline as you need to achieve your sales target.
Calculating pipeline coverage is a simple yet powerful way to track your sales performance and forecast your revenue. By understanding what pipeline coverage is, why it is valuable to calculate it, and how to do it effectively, you can stay on top of your sales game and achieve your business goals.
How Do You Calculate Pipeline Coverage in Odoo ERP
Odoo ERP itself isn’t naturally geared towards letting you calculate complex metrics like Pipeline Coverage. As an alternative, teams typically use products like Arithmix to import data from Odoo ERP and build out dashboards.
What is Arithmix?
Arithmix is the next generation spreadsheet - a collaborative, web-based platform for working with numbers that’s powerful yet easy to use. With Arithmix you can import data from systems like Odoo ERP, combine it with data from other systems, and create calculations like Pipeline Coverage.
In Arithmix, data is organized into Tables and referenced by name, not by cell location like a spreadsheet, simplifying calculation creation. Data and calculations can be shared with others and re-used like building blocks, vastly streamlining analysis, model building, and reporting in a highly scalable and easy to maintain platform. Data can be edited, categorized (by dimensions) and freely pivoted. Calculations are automatically copied across a dimension - eliminating copy and paste of formulas.
Arithmix is fully collaborative, giving your entire team access to your numbers and the ability to work together seamlessly.
Calculating Pipeline Coverage in Arithmix
Calculating metrics like Pipeline Coverage is simple in Arithmix. Once you've created your free account, you’ll be able to import your Odoo ERP data, and use it to create natural language formulas for metrics like Pipeline Coverage.
Arithmix is designed to give you the power to build any calculations you want on top of your Odoo ERP data, while also being easy to use and collaborate on. You can share your dashboards with users inside and outside of your organisation, making it easy to empower your whole team.Use Arithmix free