Financial Modeling

Mindset of embracing the grey

Mindset of embracing the grey

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.

What is your finance cadence? Are you keeping up to speed?

What is your finance cadence? Are you keeping up to speed?

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:

  1. Monthly reporting,

  2. Quarterly reporting and forecasting,

  3. Half year reporting (if listed),

  4. Annual statutory reporting and tax filing (we all have this one),

  5. Annual budget process and

  6. 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.

How do you recruit strong financial modelling skills in your team?

How do you recruit strong financial modelling skills in your team?

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 skills doesn't guarantee good modelling skills

Forecasting skills doesn't guarantee good modelling skills

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. 📊 📈 📉

#FinancialModelling #Finance #FutureofFinance

How Technology Will Change FP&A Forever

How Technology Will Change FP&A Forever

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. 👍

#finance #futureoffinance #analytics #Excel #cloud #digitization #FinancialModelling