Online Spreadsheets: A Look Ahead

Corporations and consultants have evolving needs when it comes to online spreadsheets. This blog discusses those needs and how Quantrix can meet them.

For Businesses:

Today, companies require high levels of collaboration and interaction. Many businesses employ people working in locations all over the globe. With such geographical diversity, it is crucial that information reaches key decision makers in a timely manner. Some of the most important pieces of information for management to review are financial models and the accompanying spreadsheets. Historically, in an online world, companies had to email files back and forth. More recently, files have been saved in a centralized cloud for people to review. Quantrix gives companies a vision of the future. Employees can create models in a structured multi-dimensional platform via Quantrix Modeler and then upload the models to Quantrix Qloud.

Qloud is the Quantrix online environment where users can review, edit and share their models. Qloud allows users the ability to grant unlimited access to specific users, while restricting figures/numbers from others. For example, one manager is granted access solely to the finances of the eastern region and another is granted access solely to the western region. Through enhanced roles and permissions functionality, this specificity can be tailored to fit your company needs. Additionally, when granted access, the manager Qloud user can then make edits to the model, changing scenarios to see different views of the future. Further, after making modifications, users can save their changes and add notes so that any future user will know that adjustments have been made.  See image below.

In Qloud, multiple people can work on the model at once with the ability to see changes in real time and communicate with each other directly through the online chat feature. This type of immediate interaction is critically important for companies needing a quick turn-around, or for companies with highly collaborative environments.

For Consultants:

Consultants work to uncover and solve a variety of business matters. Although client needs may differ, the paths that consultants take can be similar:

Consultants:

  1. Collect the data
  2. Organize and model the data
  3. Tell the story of the data
  4. Make recommendations

To manage the data involved in this process, consultants have many tools at their disposal. However, these options are not created equal. Consultants want the same type of coverage explained in the business section above plus they also have the added concern of their own privacy. Consultants may use a specific methodology they do not want to share. With Quantrix, consultants can show the necessary results to their clients without showing their underlying processes, protecting their highly valuable intellectual property.

Summary:

The world is constantly evolving. The software that businesses and consultants use needs to evolve at the same pace. When corporations have offices all over the world, it is vital that they can communicate and collaborate as quickly as necessary for success. Likewise, consultants must be able to create and share their figures with ease while maintaining model integrity. Instead of relying on spreadsheets, use Quantrix.  Our software is the best option for any online collaborative modeling use case.

Click here to book a demo or click here to download a free trial!

Mike Salisbury, Director