Financial Modelling helps you understand these important questions
What does Financial Modelling answer?
Financial Modelling allows us to see more than in today’s hazardous economy, the answers to these three rudimentary performance questions are more important than ever and must be answered and queried for business intelligence immediately.
- Why are “off track” and by how much.
- What are we doing against budget.
- What should we do to address performance gaps quickly.
Best Practice - Don't use Excel anymore for financial modelling
Auditors, Regulators and others constantly warn that Financial Modelling and business intelligence derived from Excel is very suspect. They warn organisations of Excel overload and in the case of large Audit Practice there is whiff of self interest as they too are business consultants selling modelling and IT services. In the UK, Inland Revenue also warns against use of Excel for Tax returns. Nonetheless Enterprise needs to put the right information into the right hands of the right people in the form they need it. The need for a coordinated approach requires flexible planning, analysis and reporting aligning financial and operational targets in one connected, integrated dynamic solution.
Whitepaper - Questions every CFO should ask.
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Big Data, Good analytics all improve business performance
At MXI our financial modelling solutions provide a complete modelling, analytics and planning platform for business critical company-wide performance management reporting activity.
Financial modelling tools such as Quantrix or SaaS based tools enable real scenario based planning with best case, worst case planning and modelling capabilities. This gives Financial Planners and Analysts (FP & A) and Finance teams the means to understand the business in depth and with far more reliability than Excel. This is real business intelligence as you are actually analysing the likely outturn using real business variables. For example, lower sales, higher costs, what is the real cost of corrective action.
Screen based sliders are an invaluable tool aiding Managers, Business Analysts, FP & A come to management decisions based on data which is thoroughly validated and modelled. Providing the business with the greatest chance of a successful outcome.
Down our financial modelling software today for free. 14 day trial.