forecasting superstar (three tools)
Running a business without budgeting and forecasting is like flying blind.
Here are two resources I use (plus one I'd like to try) to keep Accoil Analytics on track:
We use Causal to build sophisticated forecasts and budgets. This isn't for the faint of heart. Starter templates help you get going. Tailoring models to your business or unit can take a while. Still, it's a powerful tool.
I use Taylor Davidson's templates at Foresight.is. Taylor offers a ton for free (amazing value) to get you started. Even if you're not the owner or CFO, these models teach you how to think like one.
Automation is great. Equals.com is a new kind of spreadsheet tool that connects to many of the financial tools we all use. I haven't used it yet, but it's on my radar. It's more familiar than Causal, being a spreadsheet.
Time savings is what excites me about tools like Equals and Causal. There's a bit of setup needed, but once data is flowing I get accurate always-on financials.
Manually updating spreadsheets helps me remember important numbers. But automated tools are always up-to-date and easy to share across leadership.
If you're running a business or just want to understand what leadership thinks about, start at Foresight.is.
To becoming a forecasting superstar,
Peter
PS: If you like Radiohead, have you heard The Smile?