What is the meaning of financial modeling, and how to build a model that will suit us? How do you model uncertainty? And how can a good model help us in making sure we achieve our goals?
When talking about finance, usually the first thing that comes to mind is financial reports, tax reports…mostly topics too ‘grey’ to be the center of the episode. But if we change our angle and look at the finance department as a tool used to move other departments in the company forward, things start looking a lot different.
In episode 61, Lior Krengel talked with Eyal Bar, then Director of FP&A and today our VP Finance, and Eran Zinman, Co-founder, and Co-CEO at monday.com, about financial models. It’s one of the primary methods we use to check our goals both at the company level and in the department and team level. The proper use of this tool could help the company in the decision-making process and understand the influence each decision has on our yearly predictions.
In this recap episode, we go back to episode 61 and bring main insight from the questions a company should ask itself to create accurate analytics, make predictions for different departments, and the challenge in developing financial forecasts for a constantly changing company.
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