How Visual Effects are Simplifying Financial Modeling | Tech for Finance Podcast | Episode 006
Nov 7, 2022
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Jon Cowley, Founder of Whatifi, discusses how his career in visual effects led to creating an intelligent forecasting tool for financial modeling. Topics include the power of visualization, new budgeting methods, and the future of modeling. The podcast also covers the importance of storytelling, engaging stakeholders, and the evolution of financial modeling into strategic leadership.
Visual effects expertise can enhance financial modeling storytelling.
User-friendly decision tree modeling tools can improve financial scenario interactions.
Future financial modeling integrates real-time data for quick decision-making.
Deep dives
The Journey of Modeling Software in Finance
John Cowley discusses his transition from visual effects to developing modeling software for strategic scenarios in finance, inspired by personal financial challenges. Utilizing a node-based decision-making approach similar to visual effects software, he aimed to create a user-friendly model that incorporates time as a foundational element for financial analysis.
Adopting Visual Effects Strategies in Finance Modeling
Drawing on principles from the visual effects industry, John Cowley developed a tool to model financial scenarios visually by connecting events like housing or job changes in a decision tree format. This approach allows users to interact with and adjust financial models dynamically, akin to the adaptability expected in the entertainment industry.
Enhancing Financial Modeling with Real-Time Data
John Cowley envisions a future where financial models integrate real-time data analytics to enable on-the-fly scenario adjustments. By simplifying the accessibility of complex financial information, he aims for a user-friendly Canva-like experience in financial modeling that empowers quick decision-making based on enriched metadata.
Capacity Planning and Dynamic Financial Modeling
Alongside traditional triggers such as new products or staff changes, John Cowley emphasizes the importance of modeling capacity dynamics in financial scenarios. By predicting and adjusting operational and staffing capacities in real-time, organizations can optimize decision-making and adapt quickly to changing circumstances.
Simplifying Financial Modeling for Accessibility and Collaboration
John Cowley advocates for streamlining financial modeling tools to enhance accessibility and collaboration across different levels of expertise. By providing simplified yet comprehensive financial models, organizations can foster better storytelling, decision-making, and end-client engagement, aligning with a narrative-based approach to financial planning.
In this episode, we chat with Jon Cowley who is the Founder of Whatifi.
Jon started his career in Visual effects before forming Whatifi, an intelligent forecasing tool that helps business leaders model and present strategic scenarios in a low-code easy to use environment.
In this Podcast we cover:
* How a career in FFX turned into CFOTech Startup
* How VFX can help bring others into your story
* The power of visualisation
* Why putting the story in the hands of your audience is important
* How the startup modeling scene differs to more established companies
* A new way of budgeting
* Lesser known planning events you may not have thought of
* What the future looks like in this space
* Pauls favourite apps
And much much more.
For the demo of Whatifi, check out Adam Shilton - Tech for Finance on YouTube and skip to the last 15 minutes
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