ARE YOU AS EFFICIENT AND IMPACTFUL AS YOU SHOULD BE IN THE AREA OF FINANCIAL MODELLING?
FINANCIAL MODELLING NO LONGER NEEDS TO BE A COMPLICATED AND DIFFICULT SKILL TO LEARN
SHAVE HOURS OUT OF YOUR WORK DAY
INCREASE THE LEVEL OF IMPACT IN YOUR ROLE
BECOME A BETTER BUSINESS PARTNER
Future of Financial Modelling (FOFM)
The FOFM course is intended to enable and to gain practical (hands-on) experience in developing the following key skills that they can implement in their roles straight away:
Excel Automation (without any VBA coding)
Overview of Financial Modelling Standards, shortcut keys and functions
Advanced Financial Modelling Techniques like multi-dimensional scenario management and Monte Carlo simulation
Re-using work done in Excel with an advanced content management system (CMS) inside Excel
Building a 3-way interactive model connected to Hyperion/SAP (or any ERP really) for quick rolling forecasting capability
Visualisation and a dynamic interactive presentation of model assumptions and outputs live
Visual influencing and collboration by making a spreadsheet unbreakable and useable in a mobile app. Invite others to use your model with no coding required.
Course material and software is provided which includes solutions and practical models along with a course book with step by step screen shots for practicing and refreshing post the training.
We have helped many individuals and teams save a significant amount of time so that they can add more value to their customers.
Don't be a slave to the process, we can help you master it during this course without learning coding.
Automate the building, rolling and maintaining of 3-way financial models.
Below is a blog we wrote on how its possible to achieve signficant time savings so that you can be a better Finance Business Partner.
Financial Modeling & Problem solving
As an authorised training provider to the Financial Modelling Instititue we can help people develop their financial modelling skills, whilst problem solving some of the most complex business issues.
Some pre-exam material for our Advanced Financial Modeler coaching and training package is included in the FOFM course.
We recently submitted a solution to the FMI sample model which is available free to download here.
Below is also a link to other models we have built which you can download.
tactile visual influencing
Ever thought what is next? Surely making decisions in spreadsheets will change.
We love our Excel financial models, but there is now an even better way to leverage the same power of flexibility and modelling.
Excel is still your decision making engine, but we can show you how to use tacticle experiences to engage your stakeholders or customers in a way that you would not believe.
Like Tom Cruise flips through information and makes informed decisions, now you can too with simple tacticle gestures.
If you want to experience this, come along and feel it first hand !
Complete the form below to download the FOFM Diagnostic tool.
Our Future of Financial Modelling Videos
Read below some of our past blogs to get a deeper understanding of what its all about.
Introduction to the co-author
Craig lives in the US which is why he says he “spells modeling more efficiently ;) ” and the rest of the article is not written in the Queen’s English.
Craig is an IT executive with strength in systems, but he is no stranger to business and finance. His finance experience started working for a mortgage banker when US interest rates were double digits and debt instruments using the rule of 78s created negative amortization.
INTRODUCTION TO THE CO-AUTHOR
Lisa is a co-founder of a consulting firm that works with management teams to create confident decisions backed by data. She uses financial modelling as a way to help her clients articulate their vision, bring colour through the numbers and break the strategy down into actionable steps.
Her company name, Effigy Consulting, is based around our belief that a financial model is a representation of the business: The model is a safe space where you can test a business model and assumptions rather than destroying the actual business.
Typically in finance we have a particular type of cadence.
This cadence is largely consistent across different organisations no matter what the industry you support. We are likely to have some or all of these:
Quarterly reporting and forecasting,
Half year reporting (if listed),
Annual statutory reporting and tax filing (we all have this one),
Annual budget process and
Longer range strategic planning for 3 to 5 years.
Now that's a pretty full dance card if you ask me.
So how do we keep up with all those requirements whilst making sure that we are not just hitting the deadlines but actually accelerating the value that we add to the business.
Read our latest blog for more insight without the big price tag attached.
Very few 😬 finance professionals have what it takes to build a good financial model, but if you use a few short steps you can find 👀 those diamonds👷 in the rough.
It's like changing someones title to Finance Business Partner and expect them 😁 to suddenly add value and build good models.
It doesn't work 👎that way, never will!
Without the right training and hiring you will just be running on the same tredmill 😵 with the same people with the same skills gap😱.
Being an advanced excel user📈(not that anyone can succintly explain exactly what that means) helps, but its certainly not the only criteria.☝
Forecasting does not guarantee you will be great at financial modelling. 😱
Just because you can drive a car doesn't mean you can be a Formula 1 race car driver. 🚗
Playing T20 cricket doesn't guarantee you will be a great test cricketer. 😁
The same goes for forecasting and financial modelling. 📊 📈 📉
Is all this tech talk and Finance Transformation getting a bit much? 😵
Where do you start and stop? 🚦
There is so much on offer from RPA to Analytics to Modelling. 📈
Read my co-authored 🙌 article with Anders to learn more and demystify all the jargon and pick some practical solutions you can try. 👍
I often get direct messages on LinkedIn from people asking me for either a job, career advice or helping them understand financial modelling and how do they apply for jobs in Australia, thinking Australia is immune to accountants losing jobs or unable to get them.
I wrote this blog to help the many that are lost in this fast evolving work force.
I became an accountant thinking I would have a job for life. All companies need one, so safe..right?
Many accountants are struggling to find jobs equivalent to their years of experience, if at all, in some ever increasing examples.
What I feared is now becoming fast a reality.
What I feared too for many years was my father's fight for life with cancer. He survived 32 years fighting until he lost his battle recently.
His legacy was helping many people, including strangers, I hope with this post you too learn from an amazingly positive thinking individual.
I see lots of linkages in what he was able to navigate, similar to many accountants facing challenging times of survival.
I hope too that the many cancer fighters and their families and friends learn too how our minds and outlook has such a big part to play in living.
3 years ago I stepped out of the corporate world and became, what I didn't realise at the time, a virtual CFO for Banjo (Fintech lender).
I don't really like the word VCFO but it's what we have for now so let's just roll with it. Probably a blog on its own.
This post is some more tips and tricks I learnt along the way and especially clearly proving the Power of One = Power of None.
I hope you can learn from my mistakes.
Over the past year I've met many finance professionals as part of our FOFM world tour and future of finance workshops.
Despite all the hype of digital finance transformation and the rise of analytics and advanced AI and ML there is one thing that still concerns me deeply about our ability to adopt change, innovation and better Excel skills.
I'm not even referring to adopting new tools and technologies (many of which will radically change our work today and are here now) but changing how we use our existing tools.
This is a technical architectural blog on the best system archicture for future of finance. It has to be Agile and yes, have a bit of Excel mixed in the middle.
This is a passionate topic of mine so join me in a jousting sessions with Christopher Argent and Andrew Codd on a video recorded podcast - Strength in the Numbers show.
It is guaranteed to be a blast !
This is one of those potentially game changing posts where people really get to understand the different between Finacial Modelling and Predictive Analytics.
This blog is an update to one I did previously on the skills relating to financial modelling.
This blog also covers off on the other aspects to consider when closing the gap on this skill.
Ever heard of the term Monte Carlo Simulation. Its more than just an awesome casino its a much better way to make forecasting decisions.
Want to know more?
Read this blog and you will change your mind about decision making.
When I first left the Investment Banking sector and joined a traditional Finance/Accounting function I was a bit confused about the obsession with Driver Based Planning (DBP). I realised it was not well defined so this is my attempt at defining it.
What's your definition?
After meeting so many finance professionals there are really 2 camps they fall into. The spreadsheeter or the financial modeler. Of course most would claim that they are a financial modeler and few would dare admit they are a spreadsheeter.
But sadly, only a very small % of them are financial modelers. But this is changing as the demand for great modelers increases and awareness of skills gaps are highlighted and resolved.
Hopefully this post enables even greater awareness of the differences.
This Blog post is intended to provide future finance professionals with some insight in terms of developing a VCFO business.
Having evolved my CFO role into a VCFO there were many things I learnt and also would have changed had I known better.
Hopefully my mistakes don't need to be repeated by others.
This blog post explores the first major wave of spreadsheet innovation and compares it to Airbnb.
There are a lot of benefits from the sharing economy but when it comes to spreadsheets sharing content is not only foreign but also risky.
But now it is both possible and lower risk resulting in new opportunities.
Your forecast is only as good as your financial model. Do you agree?
Finance Masters use financial modelling to their advantage by creating forecasts updated in real-time, using internationally recognized modelling standards and might even compete in Model Off. Here's a jointly written post by myself and Anders Liu-Lindberg on what it takes to become a Finance Master in financial modelling. So, do you model off with the masters?
NEED HELP searching for the best advisory tool in the market.
After meeting over 50 finance professionals and accountants last week, it remains absolutely clear to me that, the majority of people have no idea which rabbit hole of technology to go down to assess the best advisory tools.
So, I decided to write this post and create a poll.
I would like the customers to talk. Knowledge shared is extremely powerful and time saving for us all!
This post provides the readers some insight as to the differences between Data Analytics/Big Data and Financial Modeling.
After reading this post, finance and business professionals should have a clearer understanding of what these skills, processes and systems can enable.
Most important is to understand the problem first then find the solution, not just follow trends.
This post explores the benefits and opportunities that arise when it comes to disrupting a finance role.
The post goes into specifics of the why and the how of job disruption. The benefits are significant with 75% time savings in this example. The replacement of which was the flexibility to do more interesting and valuable work for both myself and my employer.
The Modeloff (World Financial Modeling Champsionship) Global Training Camps are an excellent place to explore and learn new technologies and skills.
This blog explores the first ever Australian Modeloff GTC in August 2016 and some of the latest platforms and innovations.
This post explores other potential applications of the skills in financial modeling. The rise in social benefit bonds require a financial model to better estimate the returns to investors and the cost to governments and potential benefits to society.
Now its possible to save more than just money with a financial model.
The reality of what "the machines are coming" really means in the context of disruption in the roles of Finance teams in large organisations.
This is a cautionary tail of what happens when you try to be innovative in a large organisation and don't support staff to embrace change.
Requirements for accountants and finance professionals to develop financial modelling skills is a key to career success. Read more to find out why.
Demands for financial modelling have increased significantly over time. Find out why.