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Financial Modelling

Model Review & Optimisation

October 7, 2020

Financial Models are typically complex and can present businesses with difficulty in use, interpretation and long-term management as model requirements often change and evolve over time. The correct application of financial modelling best practices can considerably reduce complexity, risk of critical errors and greatly improve the effectiveness of how models are used within businesses as decision making tools. Tunneys model review and optimisation services provide business users with more fit-for-purpose models and greater confidence in their use.

Model Review

Where businesses have established existing models, Tunneys can help support the adoption, management and understanding of model logic and risks through our review process. We tailor the level of review to the individual needs of each situation from a high level review of quality and structure against financial modelling best practices to a fully comprensive and detailed audit of all formula and model content.

Our model review process provides a comprehensive analysis of all pages, formulae, code and all other logic contained within the model file. Our review will identify inaccurate or erronious calculations, poor or inconsistent structure and other departures from financial modelling best practices. We will report on and explain the logic of the model and any risks or issues identified as well as suggested next steps for optimisation.

Model Optimisation

Through optimisation, Tunneys can provide improvements to existing models to increase the extent to which financial modelling best practices are observed and thereby reduce risk of error or material inaccuracy. This process includes: 

  • tailoring of key controls and outputs to specific business uses;
  • simplification of formulae, structure and logical flow;
  • establishing better error handling; &
  • reduction in size and complexity;

The outcome of any optimisation work will be the delivery of an adjusted model that can be more easily understood, used and updated over time by the business.

How we help

Error & Risk Reporting

Comprehensive formula report identifying key errors and risks

Comprehensive Review

Coverage of all formula, code and other model logic throughout the model

Best Practice Improvements

Improving models through reduction of size and simplification of structure, logical flow and complexity of formulae

Model Re-Build

Best practice and fit-for-purpose model rebuild through understanding of current model logic and evolving requirements

Handover & Adoption

Assistance in understanding and adopting the model for use through training and documentation

Ongoing Support

on demand support for Q&A, reconciliations, trouble shooting and model updates

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