5 Steps To Better Forecasting and Capacity Planning
“5 Steps to Better Forecasting and Capacity Planning” addresses the tumultuous cycle digital service companies face, juggling workload and staffing. Aiming for a shared perspective driven by accurate forecasts, the piece by Tom O’Neill advocates breaking away from siloed thinking to drive strategic business decisions based on real-time data.
During his slot at The Agency Growth Summit 2024, Tom highlighted the tension and reliance on reactive decisions due to a lack of data-driven forecasting. He emphasised the necessity of accurate data visible throughout the organisation —with the help of robust tooling like Parallax— to stop the roller coaster effect.
We get it, and it’s a tension we see in services companies every day.
It’s a tough balancing act to bring in enough new business to hit targets, have just the right amount of talent on staff to deliver great results, and keep teams happy and engaged. Additionally, selling and delivering digital services can be difficult when people are the product, causing tension and messiness. It leads to reactive decision-making driven by emotion and instinct.
We get it, and it’s a tension we see in services companies every day. But it doesn’t have to be like this! We believe data is the only ingredient necessary to reduce this volatility. The right data – visible across the organisation – can remove emotion and bring more confidence in decision-making and forecasting.
How to use data and accurate forecasting to exit the roller coaster
Without accurate data, companies will continue to struggle to get a clear picture of what’s happening across the business, what’s coming down the pipeline, and what they need to do to balance the needs of the business with the needs of their people. Data informs better forecasting, which drives performance and stronger operations.
“A lack of visibility often leads to a chaotic and reactive scramble of trying to get the work done with whoever is available at the time — regardless of whether those people are the best fit for the job.”
Download your free copy and access Tom’s full article: The Agency Growth Book. Highlights and talking points include:
Get visibility into the sales pipeline
Don’t let precision get in the way of accuracy (or at least consistency)
Implement professional services automation that enables smarter forecasting
Forecast against targets and compare to benchmarks
Make informed decisions that optimise operations and drive business performance
Scale the magic that makes you great
Remember, accurate and reliable forecasts allow for more proactive decision-making, giving your team time to staff projects in a way that allows
for growth opportunities for employees and healthy resource management.
When you reach a stage where accurate data and forecasting become critical for future growth, relying on gut instinct is no longer viable. While it's a bittersweet challenge, embracing best practices in resource planning, forecasting, and data governance allows everyone to focus more on their craft and scale the unique magic that defines your company.
At this juncture of growth, it’s essential for your teams to break free from siloed thinking and adopt a unified perspective. With swift access to precise forecasting, your team leaders can make strategic decisions that support both the business and its people.
