It is now the era where time and money run the world, thus, efficient and resourcefulness are two traits that are highly sought after in every task nowadays. That’s why the emergence of tools to help running a business became a critical factor to financial success. One of these tools is what we call a financial model.
Financial modeling typically entails the process of building an abstract representation of a business’ financial situation. It comes in a model form specifically designed to represent a numerical report version of the performance of a business, project, or any other investment. It is a skill that is highly valued and yet very hard to master as it will take a lot of experience and a substantial know-how about different industries. In simpler terms, financial modeling in Excel is the task of building a financial model.
However, financial modeling in Excel is not as easy as it sounds. You will need a lot of time to hone your skills as well as practice to produce good quality financial model that works according to its purpose. But of course, not everyone has the time to spend learning or building a financial model from scratch. Therefore, the demand for ready-made financial model templates in Excel is high.
By using such templates, building a financial model became an easier task and will also cost you less compared to hiring a professional to create a model from the scratch and will serve as a base to start with your model and you’ll only have to fill up the figures accordingly and then adjust the model according to your preference. Since the financial modeling examples are usually in Excel, the model is flexible enough for you to customize and update, also at the same time you will have full transparency about how things are calculated and came up to be.
If you are running a business and looking for a platform where you can acquire or download industry-specific or general use financial model templates for different use cases, you can simply visit eFinancialModels. eFinancialModels is a platform providing a wide range of industry-specific Financial Model Templates made by financial modeling experts with a vast experience in financial modeling and substantial industry know-how.
Feel free to read more about Financial Modeling in Excel to learn more about the significance of building a financial model, how to build a financial model, as well as what to avoid when building a financial model with this article: Financial Modeling in Excel – Significance, How To’s, and What to avoid.