“When our development team is building a feature designed to drive expansion revenue, we need to know how it’s going to affect the business. “Even if you set up the spreadsheet perfectly with a tab of assumptions, and then you add a new assumption, it’s a lot of work to link up all the right cells, across multiple sheets,” explains Jennifer Robbins, director of finance, Celtx. Over the years, the company, became more sophisticated at planning, and needed more in-depth and nuanced forecasts with more levers in the spreadsheet.With an increasingly complicated model, the spreadsheet simply couldn’t keep up. The top pain in their spreadsheet-based financial planning model, however, was lack of scalability. Celtx closely tracks new sales, expansion, and churn, and makes changes to the model to adjust for new market conditions, explore new opportunities, and to determine the best way to achieve business goals. Like many fast-moving technology companies, Celtx had relied on spreadsheets for the foundation of its financial models. Using the Jirav FP&A solution, Celtx successfully accelerated budget reconciliation to a few clicks, saved 2 days of manual updates per month, and gave Celtx the technology it needed to scale its financial planning. Celtx’s finance team makes it a priority to keep abreast of business growth, make fast decisions, and adapt rapidly to changing conditions. Celtx, the Canadian company has remained lean and nimble while developing its cloud-based, all-in-one media pre-production solution.
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