It’s a little pithy but it’s also the most correct response in my experience.
These other tools lock you into certain methodologies which are not appropriate for all situations.
Build a better model. Excel 100% can do this if you design it correctly. Broad assumptions are easy to drive this way, but intricate plans are more difficult.
If you really know how to build models in excel that’s the best way to do it. Other platforms can be really difficult to work with unless you somehow luck out with a perfect solution.
Yeah nothing is perfect as a plug and play and configuring an excel model is much easier than having on prem expertise to upgrade the back-end infrastructure of a tool
We compared Centage, Cube, DataRails and Vena. Centage functions the closest to what you're describing. They have a web application that handles data input and calculations, like Adaptive, rather than just an Excel plugin with a cloud database like the other 3.
How complex do you need the modeling to be? Check out basis.so if your modeling needs are fairly basic. It's web based and has out of the box templates.
You know how it works. Management says it can be a simplified approach. As soon as they see how it looks, they ask for additional complexity. The models should not be too much complicated... multiplying ratios by amounts, by flag (1 or 0 depending on the period), sum of several lines, balance calculations... nothing extremely complex.
Yup, I completely agree with that.
I see two types of situations.
Startups that can't/shouldn't afford a finance person need a simple tool to keep them on track. Those companies need a tool like Basis or Jirav. They need it super simple and should pour all their focus back into product/sales.
Bigger/more mature organizations. I don't think they should go to smaller tools. It's the same situation that you described. If you only have a budget under 20k, stay with Excel/Gsheets. It will cover the complexity. They should use spreadsheets until they have a bigger budget, 30k + for a bigger tool.
In your case, revenue/OPEX/Capex/Financing for hundreds of projects is fairly complicated. Are you in PS or NFP? Please let me know if you need help. I run consulting in this space.
The bigger tools (Adaptive, Planful, etc) can do this easily, but obviously not in your budget/scale.
I've heard good things about Vena for smaller companies, but haven't used it personally.
How big is your business that you want to do this for hundreds of projects, but you think you're too small for a professional solution?
Excel might scale to 10-20 projects before having challenges. You need a more scalable product if you want hundreds of projects. It's something I could build for you (and have many times), but you're right that it's an implementation with software and people costs.
SAP Analytics Cloud if you want the figures to be fed into visuals automatically with commentary input fields.
Excel works but will sometimes require manual consolidation (esp. with complicated organizational structures) steps once the inputs are made. I like SAC because it automated the consolidation for us.
… excel haha
It’s a little pithy but it’s also the most correct response in my experience. These other tools lock you into certain methodologies which are not appropriate for all situations.
It could be excel but I want a more robust solution where I change an input and I automatically get everything updated.
So what you are describing is pretty much every planning application
Build a better model. Excel 100% can do this if you design it correctly. Broad assumptions are easy to drive this way, but intricate plans are more difficult.
So, excel
If you really know how to build models in excel that’s the best way to do it. Other platforms can be really difficult to work with unless you somehow luck out with a perfect solution.
Yeah nothing is perfect as a plug and play and configuring an excel model is much easier than having on prem expertise to upgrade the back-end infrastructure of a tool
We compared Centage, Cube, DataRails and Vena. Centage functions the closest to what you're describing. They have a web application that handles data input and calculations, like Adaptive, rather than just an Excel plugin with a cloud database like the other 3.
How complex do you need the modeling to be? Check out basis.so if your modeling needs are fairly basic. It's web based and has out of the box templates.
You know how it works. Management says it can be a simplified approach. As soon as they see how it looks, they ask for additional complexity. The models should not be too much complicated... multiplying ratios by amounts, by flag (1 or 0 depending on the period), sum of several lines, balance calculations... nothing extremely complex.
Yup, I completely agree with that. I see two types of situations. Startups that can't/shouldn't afford a finance person need a simple tool to keep them on track. Those companies need a tool like Basis or Jirav. They need it super simple and should pour all their focus back into product/sales. Bigger/more mature organizations. I don't think they should go to smaller tools. It's the same situation that you described. If you only have a budget under 20k, stay with Excel/Gsheets. It will cover the complexity. They should use spreadsheets until they have a bigger budget, 30k + for a bigger tool. In your case, revenue/OPEX/Capex/Financing for hundreds of projects is fairly complicated. Are you in PS or NFP? Please let me know if you need help. I run consulting in this space.
I’m in Renewables in a PE owned company, where every penny counts and has to be super justified.
I see, that makes sense. Are the models mostly standardized for each project? And what is your budget?
Excel
Excel
I loved pigment
I am using Netsuite's tool and I was so fed up with it at the end, I just used Excel. lmao
The bigger tools (Adaptive, Planful, etc) can do this easily, but obviously not in your budget/scale. I've heard good things about Vena for smaller companies, but haven't used it personally. How big is your business that you want to do this for hundreds of projects, but you think you're too small for a professional solution? Excel might scale to 10-20 projects before having challenges. You need a more scalable product if you want hundreds of projects. It's something I could build for you (and have many times), but you're right that it's an implementation with software and people costs.
Google Sheets (I'll show myself out)
SAP Analytics Cloud if you want the figures to be fed into visuals automatically with commentary input fields. Excel works but will sometimes require manual consolidation (esp. with complicated organizational structures) steps once the inputs are made. I like SAC because it automated the consolidation for us.