Forecast 5 can assist with re-focusing your business activities, enabling you to work smarter.
A purpose-built budgeting and cashflow solution that is easy to use, affordable yet comprehensive and accurate.
Read our informative articles below to discover why Forecast 5 is the expert's budget solution.
Spreadsheets have errors
Did you know that 38% of all spreadsheets contain errors and that 90% of people using spreadsheets think they’re correct?
With 9 out of 10 spreadsheets (88%) containing errors (Leung, 2014) and with a cell error rate of up to 1 in 20 cells (5%) (Panko, 1998), it is no wonder that your certainty on the figures presented is faltering. Spreadsheets, while a cheap, easy to use and familiar option, are the cause of your budgeting season stress and panic
10 Questions to consider: Forecast 5 vs Spreadsheet
Check to see if your current process for producing forecasts, cashflows and budgets passes the test:
Question 1: Do you use problematic, error-prone and time-consuming -to-maintain spreadsheets, for creating your Clients/CEO Business Forecasts, cashflows and budgets?
What you should look for in a budget software solution
The purpose of this article is to highlight the types of software that are available and help you to check what is needed for you to choose the right solution.
If you review your needs referencing the below information, this will help you focus on the best solution. With over 20 years in the sales, marketing and support of budgeting software I have a good understanding of the types of solutions available. Essentially, I see three product tiers or styles of solutions. They are:
Move from spreadhsheets to Forecast 5
Often small businesses will start out using spreadsheets for their budgets eventually your businesses budgeting needs will evolve. The smartest businesses are using dedicated budgeting software, such as Forecast 5, instead. Find out why!
While spreadsheets have multiple uses, are easily accessible and usable, the budgets created are not very reliable. A University of Hawaii study found that 88 percent of spreadsheets contain errors.
Is your spreadsheet really faster?
We understand that you have spent hours carefully designing and creating your budget spreadsheet template and you have finally managed to complete that pesky formula to link the cash inflow to your Cashflow.
But there is an easier, less time-consuming way! A purpose-built budget and forecasting solution like Forecast 5 takes on a significant amount of processing well beyond what a spreadsheet does.
Forecast 5, purpose-built for budgeting.
Forecast 5, every record you create allows you to enter your budget in many ways, all with corresponding calculations, e.g. calculate by units, profile, as percentage of sales/costs, etc.
10 more questions to consider
Don't let yourself fall into the same old pattern of panic and stress when it comes to the budgeting season. Consider some of the scenarios below discover how Forecast 5 is the key to your problems.
- Does my budget software handle the full requirements, e.g. Profit & Loss and Balance Sheet, Loans, Fixed
Assets, Sales, Costs, etc.
Forecast 5 is a full solution catering for all the Profit & Loss and Balance Sheet entries needed to build a comprehensive model.
A budget and forecast venture from a CEO
Article by Forecast 5 Director Geof Nightingale
On several occasions, I have been appointed by a Board of Directors as the Executive Director or CEO of a New Zealand technology or software start-up. Many of these businesses have been in the market for more than 5 years.
The challenge is often not that the product or services are not proven or a ‘WINNER’ in the market, but that, at any given time in the revenue cycle, I could not trust the numbers from the financial team.