March 11th Jurys Inn, MXI present the QUANTRIX Modeller which is ideal for use in Banking and Financial Sector as a Modelling tool for pricing and evaulating risk, Capital Planning, Cash Flow Modelling and budgeting forecasting. Financial Regulators around the world insisting that spreadsheets need to be "Managed down" and QUANTRIX fits the bill.
Registration for Jurys Inn IFSC Dublin 1 March 11th
Modelling Presentation.
Financial Modelling & Budgeting software and tools include planning, budgeting and forecasting software which help organisations manage their financial and business planning cycle.
They also use the modelling software to augment financial reporting to meet government and industry regulations. MXI Modelling tools makes business opportunities cheaper, quicker and more profitable to harvest.
In the Banking and Financial environment new modelling tools will underpin a whole new strategy for pricing risk, capital and investment management and planning. Regulators point to the need to improve the spreadsheet culture.
In the 1990s, competent financial planning, modelling tools were expensive and complex for companies with less than 1,000 employees struggling to justify the investment.Our planning tools can deliver a million dollar impact for low - mid five figures.
Many still use rudimentary technology worksheets and email for such a complex and important job as financial budgeting and planning, while inexpensive, has a number of downsides.
The capacity and costs of systems like QUANTRIX Modeller and DATANAV from MXI Software in Dublin. Fast answers are needed to adjust planning assumptions and to test "what if" scenarios as conditions change. Money and Markets move in minutes long term customer loyalty lost in minutes as well.
Finance, Planning, Sales departments and Management, need to know immediately how a tweek here or there moves Profits, Cash Flow, Margins, cost. Surely the single dimension flat file worksheet is not the right tool for enterprise capable financial modelling. Really not much of an improvement on the manual system of the 1960's.
Stories are legend of problems with flat file worksheets. Business Intelligence Cash flow planning financial modelling with integrated financial planning enables users to easily add new metrics, tweak existing ones, and react to changing market conditions.
A cross departmental low cost financial planning and integrated modelling tool using the same formats for financials and makes collaboration and communication between the finance department and the rest of the company simpler.
Financial Modelling, integrated planning software markets is growing because finance, sales departments needs financial budgeting and planning data in real time and meet the "what if" and reporting needs of other users / departments.
Most importantly, the costs and skilled personnel requirements for Finance departments are greatly reduced. Time to end of month completion is faster, budgeting and forecasting cycles times reduced. Accuracy is greatly improved and new business opportunities cheaper, quicker and easier to harvest.
As Belfast Ken Graham an independent IT and Planning consultant says "it's faster to put the stuff together and faster to redo it," he said. "It gives your budgeting and planning process real agility."
We sell the market leading desktop SKU Forecasting Tool in Britain and Ireland. There are 3 versions of the product. 20,000 users world-wide including Toyota, Coca Cola, Amazon. MXI customers for Forecast PRO include Johnson & Johnson, Siemens Medical, Gowan Group, Irish Airports Authority (Aer RIANTA)
- Forecast PRO XE for 300 sku or less,
- Forecast Pro Unlimited to collaborate with colleagues handling 1000's of SKU.
- Forecast Pro TRAC. TRAC brings Forecast PRO into the realms of Sales and Operations level planning.
TIPS 1. Excel for forecasting.
Tempting, most people have Excel and a time series sheet of data that needs forecasting. However the Trend line feature in Excel is the least effective over 20 techniques for forecasting because of value it applies to older time series data ignoring the more valuable trending in recent data. Not ideal for managing the recession in consumer spending. Better to spend a little and use a proper exponential smoother.
2. Try Exponential Trending
Exponential smoothing recognises the value trend, extracts the surrounding noise in data can apply seasonality, trend and special events. Statistical results show exponential method to be one of the most reliable means of forecasting. Exponential smoother is also known to perform reasonably where there is limited historical data available.
3. Even Forecast/PRO Software can't deliver immediate results.
It takes time, trial and error is the best way forward in terms of planning. Once implemented take the time to learn your data and get to know the results. Be prepared to challenge the results. Consider separating data into 80 / 20 paretto analysis. Splitting some data into product/family (aggregating) levels and some at the SKU level can be effective.
4. Don't Automate too much.
Data needs checking all the time to improve relevancy. Even processes that are comfortably bedded need validation. Best practice and Industry leading performance can only be enhanced through regular monitoring.
Graham Mulhern, MXI, and Government Minister Billy Kelleher.
MXI Computing Ltd Director Graham Mulhern travelled as part of an EU trade delegation to China. "We were particularly keen to see what out-sourcing activity could be sourced and develop a Chinese platform for the MXI Computing forecasting, budgeting and ERP technologies."
Our Chinese hosts were particularly gracious and showed us every courtesy celebrating the Western Economic Conference and Exhibition. The Irish Ambassador and senior Government officials attended both European Union and Western Chinese Exhibitions hosted in the Chengdu Exhibition & Conference Centre.
The delegation met with Irish Government Minister Billy Kelleher from the Department of Trade Enterprise and Employment, Irish Ambassador to China and various officials from the Chinese and Irish Governments.
The delegation was the guest of the Mayor of Chengdu, Sichuan Province. The City is developing the region economically with a special focus on High Technology and IT practice. There is an excellent IT infastructure in Chengdu with many of the senior executives having returned from the US in recent years to spearhead IT Industry growth in China.
MXI will be liasing with out-source partners to develop some IT projects and introduce MXI core forecasting, budgeting and Manufacturing technologies in China.
Wang Tao, Vice Minister, Wisesoft & Graham Mulhern, MXI.