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ARTICLE · 03 AUGUST 2023

Financial Modelling | Excel vs Software

Price Bailey
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This is a question we are regularly asked and needs to be considered at the start of any modelling discussion.

United KingdomCorporate/Commercial Law
Nathan Young
Nathan Young

This is a question we are regularly asked and needs to be considered at the start of any modelling discussion.

The key aspects that we delve into between excel and software are:

  1. Stakeholders – who is going to be using the model?
  2. Functionality – what is the model being used for?
  3. Time scales – when is the model needed?
  4. Cost – how much will it cost, and what are you prepared to pay?

There is a separate topic on what constitutes a financial model, but for the purpose of this article, a financial model is an integrated forecast all three financial statements (profit & loss, balance sheet and cash flow) that numerically articulates the business' strategy and growth plans.

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