Applications | Financial Modeling
Many businesses rely on Microsoft Excel for forecasting, profitability calculations, risk management, inventory optimization and various other financial modeling purposes. Excel is flexible, convenient, and can be easily used to create proprietary models that often include highly complex logic and mathematics, and to generate custom reports. Though not optimal, spreadsheets are also frequently used as databases as well. However, when Excel is shared, numerous well-known problems can lead to nothing short of chaos – including unsecured proprietary data, version confusion and error propagation. Valuable time can be wasted checking, correcting and resubmitting spreadsheets. Database functionality is greatly limited and inefficient.
EASA allows you to create customizable, web-enabled apps, which provide all of the financial functionality of your spreadsheets but without the associated chaos. Data can be properly stored into an actual relational database, replacing the crude functionality provided by Excel. There is no coding required due to the low code nature of the EASA platform, allowing non-experts to create custom web applications easily. When you create a web app with EASA your existing formulae, macros, and VBA will remain completely functional, ensuring your spreadsheet continues to operate exactly the same and does not require any revalidation.
A fully customizable and cost-effective solution
EASA’s ability to secure financial models in Excel means you can continue using your well-developed spreadsheets and avoid paying for costly commercial financial software or high-investment IT development projects. The customizable nature of EASA allows you to create a web app that is tailored to your needs, letting you include the functions you want from an existing financial model, and to generate the reports you need.
By creating a fully customized web application, the often confusing spreadsheet based user interface is replaced with a far more intuitive, error mitigating web interface accessible with only a web browser. Users access only the web app, and not the underlying spreadsheet itself. Thus it is not possible to alter or expose the logic or formulas, ensuring integrity and IP security. If desirable, web apps can be set up as “web portals”, allowing external entities such as customers, partners or other third parties to have access, again without in any way compromising the integrity or IP security.
What are the advantages of converting a financial model in Excel into a web app?
Reduce spreadsheet chaos
Many businesses rely on Excel to generate financial models. However, when shared, common problems arise, for example version confusion, undesirable edits and exposure of critical proprietary information – Excel chaos! With EASA, there is no copying, downloading, editing or emailing of Excel files, eliminating this underlying cause of most of the common pitfalls of sharing spreadsheets.
Financial reporting processes are faster and more effective
EASA saves your financial model calculations into a central relational database, rather than as a multitude of spreadsheets spread across our organization. Generating searches and reports, or conducting data analytics, previously difficult or impossible, are now simple and fast.
As your spreadsheets are accessed via a web browser, access is enhanced. Plus, there is no requirement to have MS Excel installed on your local device.
Fulfill compliance and regulatory requirements
Spreadsheets often present a major obstacle to achieving compliance and regulatory requirements, often making it impossible to do so. Using EASA, companies have been able to fully address their internal requirements, as well as government statutory requirements.
Get in touch with EASA to find out how we can improve your business processes
Contact EASA today to find out more about how it works and request a demo. Our team are on hand to demonstrate the benefits of using a web app for financial modelling, and explain how EASA can help improve your business workflow.