Posted by Charlotte Taylor on 05/04/18 10:00

We've all been there; hard pushed for time, a critical business event demands a re-forecast. Meanwhile the egg-timer on screen tells you the mammoth spreadsheet you're trying to open, is going to take another 12 minutes! So here a few things you COULD be doing with your time, instead of sitting waiting for your monster spreadsheet to open, if you moved to cloud planning.

  • creating a new scenario
  • Updating assumptions
  • writing a new report
  • reviewing the results

 

The scenario

You arrive at work to find sales landed a massive new order, which needs to be produced in China, unfortunately there is news the Dollar fell against the Yen, which will impact pricing and shipping and you suspect you're going to need to take on more resource to handle the project.

The CEO needs to know how this will impact the company before the 12 o'clock meeting - oh and you are out visiting the German office when all this kicks off.

So what now?

So now you need to take a copy of your existing forecasting model, input all the new assumptions into the new version, and see the impact on your profit, balance sheet and cash flow. Then run a report to compare the last re-forecast against the new scenario and add your analysis. Share it with the CEO and others.

The Wait begins

The problem is you are still waiting for Excel to open, and taking a copy of a 50mbs spreadsheet takes too much time, possibly overnight. To compare results you need to link the two spreadsheet versions, again more time soaked up with updating. Creating a report demands more linking and time. Then you have the problem your spreadsheets are with you and not where the CEO is.

instead go cloud

The answer is to move to a cloud forecasting system which allows you to create copies of your model instantly, add assumptions fast and compare easily with the existing re-forecast without linking and updates.  Create a report using 'office connect' by pulling results into your existing  formats by just plugging in your date ranges. Because it is cloud based you can share your new version across the web to any device - bingo.

I know you what you are thinking - we would say that wouldn't we! - so here are a few examples of what customers of ours do with their Adaptive insights software in the real world to respond to whatever the market and company throws their way.

 

stop wasting time on spreadsheets, start doing 

 


Tags: financial forecasts, forecasting solutions, FP&A, spreadsheets


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