PowerExcel enables organizations to significantly streamline and speed up their Planning/Budgeting, Forecasting, and Reporting processes within Excel–any number of users can reach cloud-base financial models that serve as the central repository for data, business rules, and KPIs (calculated measures).
PowerExcel ensures accuracy of reports, plans, and forecasts; provides consistency of business rule/KPI definitions across all business units, and; guarantees the immediacy of all relevant business data.
Working from Excel on a shared, cloud-based model fosters real-time user collaboration, eliminating the need to email spreadsheets back and forth and avoiding the limitations of co-authoring a single (typically ever-expanding) spreadsheet model.
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PowerExcel Features
| Feature | Description |
|---|---|
| 100% native Excel | PowerExcel works with an Excel Add-in, transforming spreadsheets into an interface to multi-user PowerExcel financial models in the cloud. |
| Financial modeling capabilities | Users connect to shared multidimensional financial models in the cloud that store data, business rules, and KPIs (calculated measures). |
| Hierarchy management | PowerExcel’s Dimension Editor enables users to define and manage roll-ups (aggregations) within dimensions such as Entities, Accounts, Cost Centers, Reporting Periods, etc. |
| Automatic aggregation of hierarchies | Data is automatically aggregated based on an organization’s hierarchy definitions. This eliminates issues commonly associated with spreadsheet formulas, e.g., sum(), sumif(), other formula errors, overtyping formulas, linked workbooks, etc. |
| Scenario modeling | Organizations can have multiple versions/scenarios of their data to represent Actuals, Plan, Budget, Forecast 1, Forecast 2, etc. |
| Driver-based planning | PowerExcel comes with spreading functions that allow users to enter a variable that calculates values for succeeding periods. Specific entries are still allowed. |
| Dynamic and real-time connectivity | Spreadsheets are dynamically connected to the PowerExcel financial model, which means data entered by one user is immediately stored in the model and becomes available to other users in real-time. |
| Ability to connect to source data systems | PowerExcel can pull data from existing databases, ERPs, accounting systems, and other source systems. (This may require consulting support.) |
| Ability to connect to Power BI and other dashboarding tools | Organizations can connect their dashboards to PowerExcel, ensuring accurate and consistent numbers regardless of platform. (This may require consulting support.) |
PowerExcel Benefits
- Unprecedented gains in productivity and accuracy
- Significantly reduces repetitive task of ticking and tying numbers
- Eliminates manual errors
- Eliminates problems encountered when someone overtypes a formula
- Reduces the number of formula errors related to sum(), sumif(), sumtotal()
- Promotes collaboration among teams
- Eliminates the need to send and receive workbooks every reporting period
- Eliminates the need for users to manually consolidate workbooks
- Data governance
- Data – One source of data for actuals, plans, and forecasts ensures consistent numbers across multiple reports
- KPIs – Apply organization-defined formulas for calculated measures
- Definitions – Implement organization-wide definitions to avoid communication errors, e.g., net earnings or net profit
- Hierarchies – Define how is the company organized
- Better performance out of limited staff
- Experience quick return on investment
- Avoid additional hires to maintain the Excel beast
- Better, more reliable decision support
- Reduce end-user dependence on IT to get data
PowerExcel Pricing
The cost of PowerExcel starts at $375/month for 5 users. The software is priced per user per month. There is a free trial available. There is a free version available.
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