Whitebirch Software Delivers Flexible, Accurate Financial Modeling Platform; Projected Financials 3.0 Takes Headaches, Anguish Out of Scenario Analysis Scenario Editor™ makes what-if planning faster, easier, and foolproof

Salem, MA (PRWEB) March 25, 2004 -

– Whitebirch Software, Inc. (http://www.whitebirchsoftware.com) today announced the availability of Projected Financials 3.0, financial modeling and scenario analysis software that produces accurate and complex financial models in a fraction of the time of traditional spreadsheet modeling. In addition to building comprehensive financial models, Projected Financials simplifies creating, comparing, and documenting what-if scenarios.

Version 3.0 of Projected Financials brings significant enhancements, including the Scenario Editor™ for creating, and managing alternative scenarios. The software's built-in business rules prevent logic and calculation errors, giving users confidence that the projections are complete, the model is correctly structured, and that the integrated set of financial statements tie out every time.

Using Projected Financials, companies enhance their cash-flow forecasting, business analysis, and strategic planning by quickly and easily obtaining improved projections, making for better business decisions. The product is already in use in a range of industries, including financial services, retail, manufacturing, pharmaceuticals, legal services, semiconductor, and accounting. Even for the most complex models, Projected Financials delivers an accurate set of financials – income statement, balance sheet, and cash flow statement.

End Excel Errors

Projected Financials' structured modeling environment guarantees the integrity of the financial model, unlike the free-form modeling technique of Microsoft ® Excel™. Users work with a library of financial objects, such as prepaid and accrued expenses and asset-based revolving lines of credit. Designed for both flexibility and efficiency, each object is configurable using a set of parameters that automatically creates line items for all three financial statements. The standard business rules built into Projected Financials dictate how and where to report such things as the gain or loss on the sale of an asset or the difference between the current portion and long-term portion of a debt instrument.

"Projected Financials 3.0 represents a major improvement over spreadsheet modeling, which hasn't changed much in 25 years. Because Projected Financials assembles financial models in a new way, customers can generate accurate models in a matter of hours that would have taken a week to create using spreadsheets," said Michael Hoffmann, President and CEO of Whitebirch Software. "The speed and flexibility of this platform provide customers the confidence to create complicated models while knowing that the financial statements are 100% accurate."

One Model, Multiple Scenarios

With conventional software, developing and comparing multiple what-if scenarios often requires more than one spreadsheet – making multiple copies and overwriting assumptions – a deceptively simple option, but one that adds time and complexity exponentially. With Projected Financials, multiple scenarios reside inside a single model with assumptions or events that can be layered to analyze virtually any business condition.

The software's Scenario Editor further enhances management of the what-if process by creating dates for key events, such as a product release or opening or closing a branch. The software provides the power to have all subsequent assumptions triggered by that event, making it easy to move the event date and instantly see the business consequences.

Faster Forecasting

Projected Financials gives users the peace of mind knowing that the balance sheet balances, everything ties out, projections are complete and comprehensive, and assumptions are easily understood. Projected Financials insulates users from intricate set of formulas for manipulating the data, so it's impossible to “break” the model by introducing computational or formula errors – a significant issue with spreadsheets. Furthermore, the software eliminates the need to reinvent the wheel when introducing a different set of assumptions or building a different model.

"With Projected Financials, my model easily handled multiple SKUs, dozens of stores, and a battery of what-if considerations in 20% of the time it would have taken using a spreadsheet," said Raul Arriondo President of Business Dynamix, a financial consulting company. "When data was changed, the software automatically updated the model and everything tied out so there were no concerns about spreadsheet errors."

With the power to quickly roll up the reports as monthly, quarterly, and annual statements, Projected Financials is ideal for companies seeking financing, particularly if the process requires many documented changes to the model. Reports are easily shared online as HTML pages or as Excel spreadsheets.

In addition to Scenario Editor, Projected Financials 3.0 brings other enhancements, including business financial objects that help deliver the power to:

Assemble complicated, long-term models – With the power to look out as far as 10 years, Projected Financials provides long-range answers to such questions as changing a company's debt structure, adding personnel, or eliminating a product line.

Deliver a full set of tied-out financials – Because Projected Financials knows the intricacies of creating financial statements, a user can have total confidence that every change in the model flows seamlessly through every statement. Even when adding new elements to the model, such as a revenue stream or capital investment, built-in rules ensure that all sums are automatically recalculated and everything ties.

Collaborate in real time with colleagues – With both desktop and Web-based applications, any number of people can view and modify a financial model in real time over the Internet. When presenting a model, if questions arise or changes become necessary, it's a simple process for anyone with appropriate rights to alter the model.

Pricing and Availability

Projected Financials 3.0 is now available, with a single-user, desktop price of $1,500, which includes a one-year, online subscription. Monthly online subscriptions are available for $250 per month.

About Whitebirch Software

Whitebirch Software designs and develops applications that help its customers create sophisticated financial models and forecasts that go beyond the scope of traditional spreadsheets and standard budgeting software. Whitebirch's flagship product, Projected Financials, generates forecasts projections and financial models with unmatched real-time flexibility to empower its customers with better forecasts so they make critical business decisions today. Since its launch in 2001, Projected Financials has been tried and tested by customers in a range of industries, including financial services, retail, manufacturing, pharmaceuticals, legal services, semiconductor, and accounting. Founded in 1999, Whitebirch Software is privately funded.