Despite all the user-friendly features of Excel, many financial modelers using the spreadsheet program still need to disengage from meetings in order to update their calculations. Proposed changes to assumptions during budgeting, forecasting or strategic planning meetings often elicit responses such as “I’ll need a few hours to make those changes” or, even worse, “I’ll let you know when I have updated the model.”

Offline modifications, while still accepted for many finance responsibilities, have almost completely disappeared from many other collaborative efforts. When all contributors can be assembled (in one room or by meeting software), substantial work products such as contracts, SEC documents, marketing decks, etc are routinely projected and modified in real time, thereby reducing the time commitment to complete such efforts.

Properly designed Excel models allow management teams the same collaborative convenience enjoyed by lawyers, marketers and other professionals when they use standard word processing applications or PowerPoint. Thomson Consulting LLC can provide products that will help you make the prospect of real-time financial models into a reality.