Introduction
Every industry and every organization struggles with a difficult reality: plans change. Sometimes these changes are prearranged, like a merger, while others aren’t intentional – such as a supply chain disruption. Whatever the cause, businesses must be able to adapt. Business modelers and finance professionals are tasked with mapping out future possibilities. They must test scenarios and create forecasts to better understand how changes will impact their organization.
Modelers, planners and consultants have traditionally created these types of models in spreadsheet tools. Although spreadsheets are agile, they lack scalability. Adding new scenarios or time periods to a model can be error-prone and time consuming.
The main reason that spreadsheet tools aren’t able to scale easily is their cell-dependent logic. When formulas are stored in cells it can make it much more difficult to expand a model’s structure. Copying and pasting formulas and structure may increase the chance for errors.
A New Method
For organizations to react quickly and accurately to business changes, they need a financial modeling tool like Quantrix. Unlike traditional spreadsheet solutions, Quantrix separates model structure from the logic. That means that formulas are written separately from the cells, which allows users to expand models with ease. Quantrix formulas are written in natural language, which eliminates the need for referencing cell coordinates. Furthermore, once the structure is created, users can add a new year, region or scenario to a model with just one click.
With features like the Audit Trail and Dependency Inspector, users can track changes made to their model and ensure their formulas are calculating properly.
As a multi-dimensional modeling tool, Quantrix is designed to help users get their “what if” questions answered faster.
Next Steps
Although it’s almost inevitable that plans will need to change, organizations can feel more confident in their business modeling by switching to a financial modeling tool. Quantrix is trusted by users all over the globe. Want to try Quantrix? Check out our free 30-day trial or book a demo today!
