The sales forecast is typically the starting point of a financial forecasting exercise. Procurement software plays a pivotal role in this regard. Most of the financial variables are projected in relation to the estimated level of sales. Hence, the accuracy of the financial forecast depends critically on the accuracy of the sales forecast.

Sales forecasts may be prepared for varying planning horizons to serve different purposes. A sales forecast for a period of 3-5 years, or for even longer durations, may be developed mainly to aid investment planning.

Procurement software also plays a significant role in buying and selling. The process of buying normally starts with the customers perception of a problem, in the form of a need, desire or requirement. Procurement software persuades the customer to turn to his environment, seeking information and methods to solve his problem. The world of information around the consumer makes him aware of the existence of a product that would solve his problem and meet his needs.

With the help of procurement software, the consumer is not only aware of the products existence, but also has gained knowledge about the product--what functions it can perform and what satisfaction it can give him. Comprehension comes out of his ability to reason with information. The awareness and comprehension stages represent the information processing stage. These two stages constitute the cognitive field of the purchase process.

It is the sum total of the individuals faith and feelings towards a product. As a result of his awareness and comprehension, the consumer develops an attitude- favorable or unfavorable- towards the product. The purchase process will continue only if he develops a favorable attitude or a positive liking for the product. Its the role of procurement software to convince the buyer that purchase of the product is the legitimate course of action. This stage often stands as a barrier between a favorable attitude towards the product, and the actual purchase. Only if he is convinced about the correctness of the purchase decision will he proceed further.