Financial modelling helps businesses predict future outcomes. Using the right tools for this will aid in achieving success.
What is the best tool to create a financial model? Is it Excel or something more dedicated, and what is best for newbies? We discuss this and more in the penultimate article in our “Forecasting Fundamentals” series
Financial forecasting is a discipline shrouded in mysticism. How do people make predictions and why do people use it if they are never accurate? In this article we delve into these ideas and uncover why financial forecasting isn’t what you think it is.
Basing your strategic business plan on a single forecast is fraught with issues in the unpredictable world we live in. You already know it’s going to be inaccurate before the ink is even dry. In order to create an effective plan of action, you need to model a range of realistic scenarios to be prepared for whichever eventuality becomes reality.
Financial modelling is seen as a niche activity. But, it’s actually the best and most natural way to make the most of forecasting. This week, we take a look through the applications of financial modelling, explain what it’s all about, and show how Brixx can make this seemingly complex activity simple and approachable for small businesses.