Our simplified Financial Model contains 4 key components:

1. Structured Chart of Accounts for Income and Expenses and the Balance Sheet
2. Defined KPI’s for each line in the chart of accounts
3. 3-5-year projection budget for the Income and Expenses, Balance Sheet and Cash Flow statements
4. Documented Reporting for all metrics to meet requirements of operations, accounting and banking relationships

Understanding this simple structure allows you to easily navigate any accounting software in setting up your financial model to meet the specific needs of your company.

To make this financial model functional and easily accessible for your company, you need to think through two components:

1. The system and processes to gather the inputs
2. A way to deal with all the outputs, as mentioned in point 2 and 4, understanding our KPIs and creating the reporting package.

For this Corland Partners uses a Business Intelligence tool called Fathom HQ to enhance and simplify the user experience, and to provide greater clarity into every financial aspect in your company.

Utilizing the tools inside Fathom allows for in-depth analysis, reports, bench-marking and metrics to help assess your company’s profitability, cash flow, growth and other key performance indicators. In addition, Traction contains a Scorecard that synchronizes with the Financial Model.