Responsible CFO’s don’t use Excel for Forecasting, Modelling
EXCEL Spreadsheets for the heavy lifting, No way!
"You can not serious” to quote John McEnroe, the great tennis player from New York. Something as serious as Forecasting, Modelling, budgeting, Planning and you would seriously consider Excel. Aside from it being free what serious justification is there for this. Management, Partners, Investors, Directors, Banks deserve better, the Bank may not deserve your best effort but it does need it. One tiny error and you will need to call the meeting again never mind the embarrasment and your next performance review.
Free Trial forecasting / forecasting software.
Why you need modelling software, forecasting software, budgeting software.
There is ample selection of modelling software for budgeting and planning, forecasting and modelling which for a little effort will leave you with rock solid forecasts which your organisation can use for a decade. All connected to your ledgers automatically updating following months endd close. Scenario testing, audit tracking, examine dependencies, link to anything, flexible and multi dimensional.
Aderbeen Survey on Planning Read.
What Excel is good for.
You don’t need this kind of software if what you need to do a simple revenue line forcast and a Profit & Loss, Excel is fine for that. Its 2 dimension limit is not a restraint here and there less chance of errors. 500 rows and columns that where you might consider the threshold. We wont disagree with those that say you go much larger.
What's Excel Good for
Best Practice, Professionalism, Due Diligence, Accuracy, Correct.
If you are a large organisation and have been using the same old forecast, Excel spreadsheet for years and you colleagues of varying skill levels using it. And colleagues are fiddling with formulaes, constantly adjusting the worksheets. Then Out with Old, In with the new. Ditch the spreadsheet. Get serious, get on the net and start searching. If you are reading this you probably already did. Independent Analyst Aberdeen White Paper