Making costly errors as a startup is not ideal and can be why your business fails. Financial modeling enables businesses to understand and predict financial performance.
It involves compiling an overview of business profits and expenses to estimate your startup's valuation or assess how you compare to your competitors. Maintaining accurate and up-to-date financial records is the best way to ensure accurate financial models.
Many financial models are made in spreadsheets by inputting the data manually, but with software, you can automate and streamline the process.