This article is based on our recent product webinar, “Join us for the next level: Consolidated Forecasting”. To watch the full webinar, click here.
Since the initial launch of Spotlight Forecasting, we’ve invested a lot of time and effort into building it into the powerhouse product that it is today. As a full three-way, double entry, cloud-based tool, it’s been responsible for a lot of high points over the years, from securing bank loans, to generating revenue, to even successfully boosting a business proposal on the TV show Dragon’s Den.
Now, we’ve taken Spotlight Forecasting to the next level with our newest release: Consolidated Forecasting.
Forecasting for the Future
Here at Spotlight, we believe that every business deserves a forecast. With that in mind, we’ve spent the past decade building up our feature base to cater to a wide variety of needs.
For us, Consolidated Forecasting is the next step in an ongoing journey of product development. Our aim was to do away with the tedious and time-consuming process of manual consolidation—and with this latest product release, we’ve succeeded.
Create and Consolidate
Now, if you have individual entities already loaded up on Spotlight Forecasting, you can create a full group-wide picture in a matter of minutes, with a few easy clicks.
To watch the full demo from our recent webinar, click here. Otherwise, here are some fantastic new Consolidated Forecasting features:
1. Consolidate up to a maximum of 75 entities
You can add up to 75 organisations to a group to include in a Consolidated Forecast. It’s as easy as selecting the relevant entities from a drop down menu, but remember—you’ll need to create an individual forecast for each entity in order to consolidate.
2. Automatic currency conversion
No more manual currency calculations! Consolidated Forecasting allows you to choose a single output currency, which automatically converts the currency of individual entities to match the group.
Month-end conversion rates are pulled from XE.com actuals, while projections are calculated based on daily rates. This does mean that your report numbers might change depending on the day, but if you don’t want this to happen, there is a manual override option.
As an added bonus, you can use the automatic currency conversion of Consolidated Forecasting to convert the currency for a single entity forecast. Simply create a group containing only the entity whose currency you wish to convert, and use the “group currency” dropdown to choose the currency you wish to convert to.
3. Easy synching, accurate results
Once an individual entity forecast is added to the group, it syncs automatically. However, if any changes are made to an individual entity forecast, it will need to be resynched manually. This safeguards work, and makes sure that only intentional changes are carried over.
Similarly, data cannot be inputted under the “Customise Data” tab in Consolidated Forecasting. If you want to change any entries, you can do it easily in the individual forecast.
4. Wraparound services, constant improvements
Between our detailed help centre, our highly detailed resources, and a dedicated support team always on hand, there’s no reason for you not to be forecasting by the New Year! Book a demo with one of our team today, for a personalised walkthrough of all our products, or start a free trial.
We’re constantly improving and updating our products, often based on the feedback of our incredible Spotlight Reporting community. If you have any feedback on Consolidated Forecasting, or ideas for the future of our Forecasting product, don’t hesitate to drop us a line at customer@spotilghtreporting.com.
