Better all the time

ModelWizardDear Users and Guest!

FinRobot’s development team always looks at ways to improve your experience at our site. Our new Model Wizard helps you decide which of our Financial Models is best suited for your modelling requirements. We hope you will like the Wizard’s simple single page layout – answer few questions and get an instant advice and a link to a model recommended for you. Give it a try!

Kind regards,

FinRobot

We can do it!

 

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Dear Users and Guests,

 

We are pleased to announce release of our fourth model completing our set of four core models.

 

Manufacturing Model is best suited for modelling production processes based on operational uptime, work shifts, output rate and pricing assumptions for up to ten product lines.

If your business environment is best described as a function of time – be it machines or labour – you may consider our new Manufacturing Model.

 

As all our models from the Main Library, the new Model comes with lots of online assembly options supported by a detailed manual. You can learn more about by following this link.

 

And the best part – we have a promotional 50% price until August 31st! Call it a summer sale but when it’s gone – it’s gone.

 

Enjoy,

 

Finrobot Team

 

Feedback from the London Business School

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Dear guests,

We are pleased to announce our feedback from Advanced Corporate Finance Modelling Course we delivered for the London Business School. During the academic year, 84 participants from Masters in Finance program took the course. This is a very demanding audience that self-assessed to be skilled in modelling on average of 3 out 5.

Therefore, we are very pleased they commented back lots of flattering points:

«This is probably the most important course, totally practical with very good theory back-up»

«Great material, good real-life applications, very useful models»

«The professor is clearly a subject matter expert really good who knows not only about modelling, but also a lot about corporate finance and the real world, which is essential»

«Andrei is very well skilled in valuations and can explain well, fantastic financial models»

«Professor is very experienced, engaging, practical and fun»

«Andrei is a great professor and delivered high quality classes»

«Amazing, very insightful and funny»

Needless to say the feedback makes us immensely proud and happy. Without any further comments, we present scorecard feedback from the course (participants were asked to respond to questions on a scale of 1 to 5) -

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For anyone interested to read further on Advanced Financial Modelling our notes from October run of the course were published here.

A video is worth more than ten thousand words

videoDear Users and Guests,

Presenting for your viewing pleasure a short video showcasing our online financial modelling services. In under two minutes you will get a quick tour of what our models are capable of and learn how we are helping businesses to save time and money.

Click on the image to the left to play the video in your browser.

Hope, you like it!

FinRobot Team

Weekend Reading

images (9)Hi, folks

When browsing various public sources we recently came across some fascinating research by Raymond R. Panko, Professor of IT Management and Shidler Fellow at the University of Hawaii. His special focus is spreadsheet errors and governance. One of his papers that caught our attention can be found here.

For those of you not wishing to spend time on the original material we will paraphrase a few themes from Professor Panko’s paper:

  • Typical cell error rate in ANY spreadsheet is between 2% and 5% and it is a statistically high probability of over 50% that any spreadsheet has material errors no matter what. This is hard evidence backed by years of research
  • Unlike software development industry where thorough testing is the norm, spreadsheet coders and users prefer to ignore reality and would be outright hostile to suggestions that their product has errors
  • Spreadsheets’ modellers and users are equally bad with identifying errors, a basic check of a spreadsheet would not unearth more than c.15-20% of errors present in any given spreadsheet; more rigorous testing involving expensive and time consuming procedures would improve the error identification rate to 50% only
  • However, software development industry which has a lot of similarities to spreadsheet coding and design does a lot batter with error rates of ten time less

How is it relevant to FinRobot? Well, directly.

As a software development company, we follow software development standards and procedures. Our templates are designed and rigorously tested before we release a new model. Once released our automated assembler does the job and no human is involved in the final product. In an unfortunate event, a rogue formula manages to escape our continuous monitoring and clients’ feedback allow feed into the algo of cleaned up code for all clients to benefit instantly. And once caught, an error does not come back.

Hence, we feel our error rate should be vastly superior to most models’ available on the Internet and especially to those where you paid a consultant to produce them. Remember that spreadsheet errors are created by humans.

Food for thought…

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