Centralise and Manage Your Excel Models with Optalitix Models
Excel, a tool used by over 800 million people worldwide, is the backbone of countless businesses. Its unmatched flexibility enables users to create analytical tools for a wide range of applications, from pricing insurance and modeling credit risk to calculating reserves and producing management accounts.
However, Excel's strength is also its weakness. The open-ended nature of the tool has contributed to significant company mishaps, often stemming from errors and poor oversight in Excel models. Examples include JP Morgan's "London Whale" incident in 2012 with a cost of $6bn, Fildelity's dividend miscalculation in 1995 (of $4.32bn) caused enormous embarassment and Public Health England's failure to report on 16,000 positive Covid cases that were then not notified to self-isolate. To avoid these mishaps, companies need greater control and management of their Excel models.
Introducing Optalitix Models
Optalitix Models transforms the way companies handle their Excel models, offering a robust solution to mitigate risks and improve operational efficiency. With this innovative platform, businesses can host and manage their Excel models online, unlocking several key benefits:
- Enhanced Visibility: Gain a clear view of all Excel models in use across your organization, making it easier to track their existence, updates, and deployment.
- Improved Governance: Centralize model control to ensure compliance, minimize errors, and enforce consistent standards.
- Streamlined Management: Monitor and manage model usage in real time, reducing risks and enhancing decision-making processes.
By addressing the common pitfalls of Excel, Optalitix Models empowers companies to maintain the flexibility they value while introducing a layer of oversight that fosters better governance and reduces the potential for costly mistakes.
Take control of your Excel models and safeguard your business operations with Optalitix Models.
