Microsoft Excel can streamline your business in ways you may not fully comprehend until you discuss your options with an Excel consultant. For small businesses, especially, the ability to look ahead and forecast using accurate figures can help in various ways that will benefit you in the future.
A financial model should only be as complex as it needs to be. That’s something that all reputable Excel consultants know. They won’t try and sell you overly complicated models that don’t take into account the individual requirements of your business. In fact, the best financial models are those that are built from initial templates following in-depth consultation with clients. Pre-built templates usually have features that businesses in some industries neither need nor care about. In addition, if one of your primary goals for utilizing financial models is because you want to save time within your business, the last thing you want is to be collating data that you have to read through when it has no value to your forecasts and future projections. Financial modelling options in Excel, when put together properly, can take away the need for you to look at numerous individual data streams and try to manually work out forecasts. These models will also be appreciated by internal and external colleagues alike because they’ll be simple to understand. If you’re trying to quickly communicate details about your business or department, it’s easier to present visual data than anything else, and Excel is particularly good at doing this.
When you need upgrades in the future…
As a tool, Excel is widely agreed to be one of the most useful business aids available, mainly due to its versatility and flexibility. When you’re considering upgrading your current models, it’s important you do it properly with assistance.
You may have utilized Excel consultants to get your initial financial modelling systems off the ground. Perhaps these are a few years out of date or perhaps your business objectives have changed. Maybe you have recently started outsourcing to a telematics company and you need their data to be combined with your models? You may have achieved everything you needed to in a specific field and be looking for further goals to develop and grow your business further. This will require some enhancement to the financial models you’ve already developed. You may be tempted to attempt these changes personally or by utilizing appropriately qualified members of your team. The truth is, however, that being familiar with Excel doesn’t mean that someone is qualified to create and develop the complex formulas required when working with financial models. As you’ll appreciate, these models need to be as accurate as possible in order to portray your business to internal and external colleagues. Excel is a powerful tool for displaying all this, but it can only be as good as the person working in the background. Employing one of the expert Excel consultants who work with Excel financial models every day can ensure that the smallest tweaks to your models and future plans don’t ruin the entire modelling system you’ve established.