Common Excel errors have cost the financial world
Millions and even Billions of dollars in losses
Have you ever tried to
You can spend hours, if not days,
and in the end, you decide to simply write a new model.
Of the approximately 750 million users of Excel worldwide,
20% or 150 million can be considered Power Users.
6 million of those are in the US.
They all have experienced the shortcomings of using Excel.
It does this through its unique proprietary approach keeping the data separate from the logic and using rows rather than individual cells. This makes auditing and understanding the logic of a model virtually transparent. More importantly, the inherent problems of overwriting formulas, broken links, and omitted cell ranges are an impossibility in Firebird.
(Rapid Model Development Technology)
Our proprietary approach to easily and quickly walk a user through the creation of a financial model.
(Separation of Model Logic, Input Data and Report Files)
Our proprietary design separating the model logic from the data, preventing the potential for errors in overwriting data or formulas. Also includes the ability to run various reports from the same model with a minimum of parameter adjustments.
(Tamper Proof Spreadsheets)
A cryptographic code within the compiled model definition alerts the user to any tampering.
(Use of Line Numbers Instead of Cell References)
Probably the single most important feature that allows the reduction of errors by avoiding the tediousness of cell-by-cell calculation and tracking in favor of whole rows. No more missing cell references throwing off the formulas. No more failing to include a cell in a dragged array.
(Collaborative Spreadsheet Development)
Our system of auditing and easy tracking of the progress when creating a model makes this ideal for anyone, regardless of familiarity with Firebird, to contribute and monitor the creation and modification of models.
(Fully Inclusive Line / Formula Coding)
Rather than having to worry about individual cells, we have included all the formatting, calculation, and display parameters in each row including precisión, totaling parameters are also included in the row definition: beginning or ending balance, arithmetic total, average, etc. There is no need for setting up additional totaling columns and calculations. With the push of a button You have yearly totals, quarterly totals, year-to-date totals All from the same report.
Damn Excel! How the 'most important software application of all time' is ruining the world.
How the London Whale Debacle Is Partly The Result Of An Error Using Excel.
Meet Carmen Reinhart and Kenneth Rogoff, the Harvard professors who thought they had austerity licked...
Spreadsheet blunders costing business billions.
Errors in Spreadsheet Modelling Can Be Expensive and Can Damage Reputations.
Eight of the Worst Spreadsheet Blunders - Spreadsheet typos and oversights costing your company millions...
The European Spreadsheet Risks Interest Group.
The Importance of Excel - the role of Microsoft Excel in the “London Whale” trading debacle.
