Apart from Microsoft Excel, which is widely used, other solutions help with financial modeling.
Here are some of the best financial modeling software.
Cube is a real-time FP&A platform that incorporates your spreadsheet and offers FP&A teams real-time access to financial and operational data, allowing for faster and better financial reporting, planning, and analysis.
Cube helps users save time, reduce errors, and improve insights, allowing them to communicate the story behind the numbers quickly. Cube bridges the best of both worlds by melding your trusted spreadsheet’s user-friendly flexibility and familiarity with the robust control and scalability of performance software.
Anaplan helps optimize business planning and performance management across various functions, including finance, sales, supply chain, workforce, and marketing. The platform’s planning tools facilitate budgeting, forecasting, modeling, pricing optimization, analysis, and other planning and management tasks.
Businesses use the planning platform’s connected planning feature for modeling and planning, among other tasks. Anaplan’s calculation engine empowers thousands of concurrent users to access centralized data pools and collaborate in planning and creating models across all departments.
Board is an intelligent planning platform that helps you gain smarter planning, actionable insights, and better outcomes.
It empowers leading enterprises to uncover critical insights that inform business decisions and integrate strategy, finance, and operations to plan more intelligently and attain full control of performance throughout the entire organization.
With the Board, companies can manage and regulate their entire planning process, from goal setting to operational execution.
Manual processes and disconnected systems limit visibility, impact accountability, and allow day-to-day tasks to take over, leading to key plans failing. Strategy leaders rely on AchieveIt to connect, monitor, and execute their most critical plans and initiatives, enhancing visibility, increasing accountability, and promoting collaboration.
AchieveIt is trusted by global organizations for managing key plans and initiatives. AchieveIt is a strategic planning software that identifies and corrects untapped potential in your planning and execution process.
- SAP Analytics Cloud
The SAP Analytics Cloud solution allows you to integrate analytics and planning seamlessly by integrating with SAP applications and easy access to data sources.
As the analytics and planning solution within the SAP Business Technology Platform, SAP Analytics Cloud provides trusted insights and integrated planning processes across the entire enterprise to help you make better decisions
Financial modeling is a powerful tool for companies.
It lets you make informed investment, risk management, and business planning decisions. With accurate and robust financial models, investors and stakeholders can understand the outcomes of various scenarios and be more decisive to maximize returns and minimize risks.
However, some of the prerequisites are expertise and attention to detail to ensure that the models are accurate and reliable.