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Rugged Logic updates online spreadsheet modeller

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8th Feb 2007
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Rugged Logic, the online provider of Excel-based forecasting and budget models, has enhanced its capabilities to cater for the kinds of sophisticated analyses requested by finance managers and practising accountants.

Based on its web-based SpreadsheetBuilder server, the Rugged Logic system assembles the business plans and forecasts in response to users' answers to an online questionnaire.

"It's still the same core product, but we've been adding a lot of new features," said Rugged Logic managing director Nick Bowles.

"Because the functionality is radically different, there are another 20-30% checks in the engine. It's a bit like the software as a service idea. You download the model at the time you need it, but if you come back to the site and use it again, you get access to any new features that have been added."

Following feedback from existing customers, the new edition of Rugged Logic can now produce budgets that allow you to compare variances against those targets.

"A lot of people tend to forecast from business drivers rather than actuals and that trend seems to be continuing," said Bowles. "As a result, we increased the model's flexibility so you can insert additional business drivers from separate worksheets."

Having spoken to accountants and finance managers, the Rugged Logic team discovered that people have often built up their own models and forecasts over the years.

"They don't want to abandon the things they've done. Rather than have to reconstruct them, we've made it possible for you to import those sheets to Rugged Logic and incorporate them into the spreadsheet navigation system," said Bowles.

"That means people can use external worksheets to produce an initial P&L and feed that into our model. The P&L might not be good at cash flow, but that's where Rugged Logic comes into its own. We've built in checks and controls around cash flow that gives them a robustness they can't get."

Also on offer in the upadated version are:

  • Consolidation tools for managing group forecasts
  • A Scenario Mangement console that lets you compare different scenarios in one "live" table. "If you make a change to any of the models in the table, it will flow through to all the comparisons. It's something our users have been asking for for some time," said Bowles.
  • Key indicators - One of the Rugged Logic navigation options is to set the spreadsheet to a key indicator view. "Those indicators are live, so as you input forecast data, they will change to reflect the new figures," Bowles explained. "You can set any indicator - be it cash, sales or EBITDA profit and it gives you a constant monitor of where you are. That can be useful if a company has covenants around their loans. They can set the condition up in the key indicator bar and constantly montior it."

The Rugged Logic pricing is based around a £695 Designer licence, which is sold alongside spreadsheet model "packs" of 5, 10 or multiples of 10. "For a small accountancy practice, one partner might buy a design licence and a pack to cater for the number of clients the firm serves," said Bowles. "It works the same for corporates. The FD might want a design licence, but the financial controller might want to amend them, so they would get two design licences and a suitable pack of models."

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