The alternative funding supplier, Greensill Capital, secured the largest UK investment last quarter, to achieve the status of Unicorn, following an investment of $250 million from General Atlantic. They knew to be able to forecast to the level of detail and accuracy, they needed something better than Excel, read how they and others turned to cloud planning to support their growth.
Forecasting for growth
Last year Greensill started looking for a more flexible and reliable forecasting solution. Having recently implemented Netsuite as their Accounting ERP, CFO Al Eadie decided on Adaptive Insights cloud planning software.
Al Eadie set up Greensill's finance function in the UK and quickly discovered he needed a more flexible forecasting and reporting tool than Excel. With an ever expanding list of financial products, a projected quadrupling in growth, and funding rounds on the horizon he knew a cloud solution was a must.
With new funding in place the company is looking to expand its presence in China, Brazil and India. A growing global presence, calls for greater sharing and collaboration capability throughout the company and finance is no exception.
Looking forward Al adds "we will need to model dividend payments, and share valuation models to key personnel, all of which would previously have proved tricky in Excel"
forecast, PLAN and share with confidence
High growth tends to go hand in hand with navigating funding rounds. Many a 'wanna be' unicorn, needs to forecast, share and plan more effectively.
80% or more of our clients looking for improved planning tools secure funding to fuel their growth. They comment regularly how essential it is to have the flexibility and speed to build and adapt models to reflect the changing commercial landscape.
Allecra Therapeutics is one of those. As a Bio Tech, funding rounds are par for the course. Their CFO Andrew Smith knew he needed a financial planning tool which enabled him to work closely with their potential funding partners to stress test multiple models. Andrew implemented Adaptive largely himself and had it up and running in a matter of weeks.
Go to tool Excel, makes heavy work of complexity. These days data can drive better decision making but only if it can be harnessed. Having a single source of truth builds trust and reliability in the numbers. The capability to slice and dice data in more detail to drive greater profitability has been used by clients such as property management company SDL. Their Finance manager Martin Webster recently commented on how Adaptive had enabled them to model with more granularity and accuracy to help secure follow on funding.
Time to upgrade your planning tools
The trend towards investment backed growth is driving the need for more accuracy, flexibility and visibility of the numbers. Expansion can be driven by acquisition, opening new territories or new product lines. All these elements add complexity. Complexity drives the move away from Excel modelling.
Today high growth companies need to show their investors they have their finger on the pulse, that their figures are accurate and they have a handle on their data and can turn insight into good decision making. So if you are the funder or the funded, it maybe time to upgrade your forecasting capability and ensure you take the right choices to stay ahead.
Modern cloud forecasting tools give an organisation the edge when seeking investment. The process demands building multiple models, sharing versions and stress testing them to build trust with investors.