Listen to this articleProjectionHub helps startups create financial projections without the need to have a degree in spreadsheet modeling. Below is our recent interview with Adam Hoeksema, Co-Founder of ProjectionHub:
Q: ProjectionHub helps entrepreneurs create financial projections for business plans, what are main benefits of using it?
ProjectionHub gives entrepreneurs who are trying to create financial projections many advantages over traditional Excel templates:
– Our tool is web based so you can access your projections anywhere with the web.
– You don’t have to worry about version control. Worst case scenario is showing up at the bank or an investor meeting and realizing that you left your most recent Excel file on your computer at home. With ProjectionHub you always have your most up to date version available for download.
– You can share your projections with as many advisors or business partners as you would like. Simply invite them via email and they will be given access to an advisor account for free.
– Your balance sheet will actually balance! You would be surprised at how many financial projection templates I have seen people use where their balance sheet does not balance.
– ProjectionHub is faster and more scalable for creating a powerful base financial model for your business, but it also has the flexibility of Excel. Customers are able to download their standard financial projections as an Excel file and then customize from there if needed.
Q: How do you characterize the response so far?
A: The response has been great so far! We have had over 7,500 users from all around the world use the tool. We have been getting great feedback from our customers with excellent suggestions on how to continue to improve the product.
Q: Could you tell us more about pricing?
A: Currently, ProjectionHub has a free 7 day trial which would allow a user to complete and download a set of financial projections. The Excel file download is locked with the free version, so users would not be able to see or change the equations. There is a paid version which costs $5 per month and gives you access the unlocked Excel download, and free email support as well.
Q: Could you tell us something about your “Financial Projection Services”?
A: Occasionally we have users who are not comfortable building their own projections and will ask us to help develop their financial model. Right now we typically do a couple consulting jobs per month, and if we have more requests than we can handle, we will refer to some of our partners who are experts in financial modeling.
Q: What are your plans?
A: We are currently working on integrating with Quickbooks so that users can import their past financial results as a baseline for future financial projections. Integration with Quickbooks will also allow us to compare user’s projections with their actual results and then provide automated suggestions for improvement in order for the business to meet or exceed projections.
We are also currently working on a redesign of the UI/UX for the entire site, and plan to launch that in the 4th quarter of 2014.
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