When you’re running a business or you are in charge of finding out the financial position of your enterprise, there are common questions you ask yourself before making a decision. How much did I make last financial period? Was it higher than the previous period? Did the operational costs rise on a year-on-year basis? Which product/service s driving our top-line? Which supplier should we let go, and which client should we strive to keep? Which of our clients stopped or reduced intensity in buying our products?
You can imagine how many calculations you would need to get the right financial position and how much more paper you would have to buy to iterate an informed decision. Moreover, the number of financial analysts, accountants, finance advisors and executives you would need to make the right decision based on the data you have collected overtime, the bank cheques and transactions you have reconciled and last but not least, the invoices issued to you by suppliers or issued by you to your clientele
With firms leaving the times of the HIPPO (Highest Paid Person’s Opinion) behind and turning to data driven decision-making, the procurement of robust big data solutions has revolutionised.
Gone are the days when financial models where a number of books, files and spirals bound together in an organisation and book keeping was manually done. Finding specific records and financial documents was a serious hurdle. Moreover, they were faced with a threat of hazardous outcomes like fire, loss of information as employees could easily storm off with specifics, to mention but a few.
Forget these problems for a solution is under your fingertips. Forget expensive off-shelf software, Microsoft Excel has the tools to develop robust financial models and book keeping solutions from which you can find data easily and dynamically have entries added to your models.
With just a click, you can stress test the impact of a change in tax on your financial position. You do not need to carry a calculator and a pamphlet of papers to build your financial model. All is embedded in this powerful spreadsheet program. All you need is the right skills from experienced experts.
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