Modeling Intelligence (MI) Moves to the Strategic Forefront
Achieving Business Agility with Modeling Intelligence
Traditional approaches to financial modeling historically involve the use of inefficient, undisciplined software tools that fall short in their forecasting capabilities. Organizations that rely on such platforms are often unaware that they are not functioning to their true potential, but smart business decisions should be supported by agile, multi-dimensional models.
Modeling intelligence leverages technology to convert financial models into actionable analyses. These tools evaluate both current and prospective data holistically, giving users unparalleled insight into future possibilities and enabling organizations to make better decisions. Synario is at the forefront in designing intelligent modeling software, purpose-built specifically for long-range financial planning.
Excel Modeling and the Dark Ages
Despite the widespread use of Excel as a modeling tool, the platform has numerous risks that inhibit effective decision-making, including the possibility for manual errors, version control issues and functional limitations. Additionally, manually inputting data into spreadsheets is time-consuming and inefficient – akin to modeling in the Dark Ages. Users also cannot be confident in the model’s output, leading many organizations to costly mistakes and embarrassing mishaps.
Excel and other modeling platforms on the market also solve a different problem than Synario does – they provide a central repository for historical data that can, in turn, be used to extend into forward-looking budgets and projections. While some of the cloud-based solutions provide a useful alternative to disconnected spreadsheets for data collection and consolidation, their “intelligence” is derived from their ability to analyze historical data. From a forward-looking perspective, they provide a limited set of scenarios, usually base, best and worst case possibilities. They are limited, in this regard, due to the large amounts of data involved.
The Advantages of Synario’s Smart Technology
Financial models should represent the way the world works for businesses and other organizations, as well as have the ability to answer questions that depend on interconnected components. Synario’s modeling software views the future as an integrated whole – enabling users to explore all the various possibilities, as opposed to just analyzing best and worst case. The intelligent capabilities of Synario means that, unlike other platforms, the software has inherent knowledge and logic already built in. The platform’s pre-built accounting rules know the difference between revenue, expenses (cash and non-cash), assets and liabilities (current and non-current), and equity (for both for-profit and not-for-profit entities). Synario intuitively understands how to roll up income statements, balance sheets and cash flow statements over different time horizons. It also knows how to evaluate alternatives, not only on a macro basis, but also on a micro (by project, initiative or growth rate variation) basis, giving users unrivaled insight into all the possibilities the future may hold. Synario enables awareness and intelligence about the future, rather than about what has already happened. It takes the analysis of prospective possibilities from two-dimensions into the clarity of a multi-dimensional evaluation of organizational strategy. With Synario, financial modeling has finally “come of age,” just as accounting, data analysis, and budgeting have done with software built for the task.
Build Scalable Models with Confidence
Additionally, much like business intelligence software, Synario’s data is queryable, meaning the model can evolve as new questions emerge. It also significantly reduces time spent modeling, because unlike other platforms, Synario’s software uses patented technology that enables users to layer in non-destructive changes without altering the model. In generating new reports and scenarios, it is simply a matter of pivoting dimensions, rather than creating new spreadsheets or manipulating the underlying data.
Synario supports better analysis and enhances the quality of decision-making. Unlike other available software, in which users can only select a few different options, Synario modelers can explore infinite possibilities and have confidence in their decisions. The future is unlimited with our purpose-built platform, and other tools simply cannot compete with the level of insight our software provides.
Need Help with Cash Planning and Financial Modeling?
Synario is designed to help companies identify key budget drivers, opportunities, and risks through user-driven scenario analysis. Our software not only adds insight into future budget risks and challenges, but also helps to communicate your story to key stakeholders. Contact us today to learn more.