Financial Forecasting Tool (Medium size company - small team)
Hello everyone,
We are an IT company specializing in Outsourcing, Software Development, and Advisory, the usual. Currently our company reached 250 employees, we just finished our second year. We use excel for our financial forecasting (individual sheets for revenue forecast, expense, capex, etc all leading to one excel sheet "Financial Data" where the magic happens)
This currently works and is managed by the CFO & Financial Controller. Me personally, im not very involved in it and don't really understand much of how its set up (fresh into the job, first year accountant)
We recently implemented Odoo for our accounting and its going great and everything. Our CFO saw this and wants us to find a financial forecasting tool but is very vague about what the actual requirement is. My assumption is balance sheet, profit&loss, cash flow statement forecasting which are not available in Odoo unless we go for a custom solution (if there is one that is highly known and suggested, we are interested).
We approached Abacum but it will cost us 50k USD for our first year which isnt something we currently have budget for.
The problem with our Excel at the moment is that it requires a lot of manual revisions and consumes a lot of time.
What would you recommend? We have a squad of 3 accountants, financial controller, CFO, and an account for the CEO just so they could review.