St. Louis MSD Case Study
Unlocking Success: St. Louis MSD's Revolutionary Leap with Synario for Streamlined Financial Modeling
2 min Read
Metropolitan Saint Louis Sewer District (MSD) is a prominent organization specializing in wastewater treatment and drainage services in the Saint Louis area. With over 21 years of experience at MSD, Mike Gindler, Assistant Director of Finance, has been instrumental in driving financial modeling initiatives within the district. Seeking improved decision-making capabilities, MSD made the decision to transition from an Excel-based model to Synario, our powerful financial modeling platform. In this case study, we will explore how MSD successfully leveraged Synario, the benefits they experienced, and their plans for future implementation.
Challenges with Excel and the Shift to Synario:
For over a decade, MSD relied on an Excel-based model for their rate modeling processes. Seeking a more efficient and reliable solution, MSD decided to explore the capabilities of Synario. By transferring their existing Excel model to Synario, MSD aimed to enhance their rate modeling experience and improve decision-making accuracy.
The Benefits of Synario:
Upon implementing Synario, MSD immediately recognized its value. Mike Gindler highlighted the Explain feature as a favorite among the team. This feature allows users to easily trace back numbers, understand underlying calculations, and analyze the supporting data—an improvement over the cumbersome process they faced with Excel. Additionally, Synario eliminated the problem of formula corruption that MSD had experienced in the past, ensuring data integrity and minimizing errors. These advantages contributed significantly to the success of MSD's rate modeling process.
Because MSD primarily uses Synario for rate modeling, a significant goal for them has become integrating that model with their financial planning model to eliminate the back-and-forth reconciliation process between the two systems. MSD shares their rate model with the Treasury team, who then collaborates with a third-party consultant to review and validate the model. By bringing these models together within Synario as well, MSD aims to streamline the reconciliation process, improve alignment, and reduce the need for iterative discussions.
MSD also plans to expand its usage to other financial planning areas, such as debt modeling. As they become more proficient with the platform and explore additional features like alternative scenario modeling, MSD expects to unlock even greater benefits and further improve their decision-making capabilities.
Future Plans and Efficiency Gains:
Looking ahead, MSD envisions leveraging Synario not only for rate modeling but also for financial reporting and comparison analysis. By using Synario to track actual results against projected outcomes, MSD expects to enhance their reporting processes and gain valuable insights into the accuracy of their projections. Furthermore, MSD aims to increase the frequency of Synario usage by identifying additional areas within the organization where the platform can be employed effectively.
With the adoption of Synario, MSD has successfully overcome the limitations of their Excel-based rate model, gaining enhanced functionalities and improved decision-making capabilities. The Explain feature and data integrity offered by Synario have already proven to be significant advantages for MSD. As they continue to explore and leverage the full potential of Synario, MSD aims to integrate their rate model with other financial planning processes, streamline reconciliation efforts, and achieve greater efficiency in their modeling and reporting practices. Through their successful implementation of Synario, MSD sets an example for other organizations seeking to optimize their own financial modeling and decision-making processes.
See what Synario can do for you
We started Synario for the same reason many of our clients started using it: we were tired of struggling with spreadsheets and their shortcomings. We needed a solution that was dynamic, adaptable, and promoted cross-team collaboration.
To answer this need, we created Synario: the agile modeling software organizations rely on to forecast and visualize their financial futures.
Are you ready to see for yourself what Synario can do for you?