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Spencer Smith
Founder & Creator of FDPack

“Forecasts done properly!”

The story so far…

Over 15 years ago, Spencer was one of the first in the UK to offer a Virtual FD service which allowed businesses to have the services of a financial director for just a few days each month. To quickly and easily generate the reports he needed for board & senior management  meetings he created an Excel tool he called “FDPack”.

He noted how in many organisations there was a separation of historical accounting and forecasting both in the tools that were used and the ways in which the information was prepared. This created inefficiencies and inaccuracies when they needed to be combined into management reports.

Spencer configured the forecasting model within FDPack to create journal format entries identical to those found in any historical accounting system. Actual and Forecast were now talking the same “language” ensuring integrated and reliable P&L, Balance Sheet and Cash Flow forecasts and the ability to easily and seamlessly swap out actuals for forecasts as the year rolled forward.

Repeatedly seeing the benefits to clients of quality of information and time savings convinced Spencer to create the FDPack web application that allows monthly reports to be quickly and easily prepared and securely shared across any organisation.

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Simon Phippen
Consultant

Simon is a Management Accountant who has experience in developing and working with planning and forecasting tools in both corporate and personal finance.

He has worked in a wide range of financial and operational roles in a variety of industries and has always enjoyed the challenge of identifying the small amount of information that is critical to understand and manage a business.

Simon compares the FDPack process to renovating a classic car. “The discipline of working with FDP is like taking a car apart and it can feel sometimes like you have all the parts spread around the garage floor! It is the best way to really find out how well the different pieces of an accounting system are working together and, by the time you have reassembled everything, you have a perfect understanding of how it should operate.”

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Lee Ramsingh
Technology Partner

Lee is the Founder and Managing Director of Better Technology Consulting who are the technology partners of FDPack.

Lee and his team have expertise in C#, VB.NET, MS SQL, VBA and Microsoft Office solutions. They are specialists in web-based “on-demand” reporting and analysis for “Big Data“.

He has worked closely with Spencer to bring his vision of an online version of FDPack to fruition. Better Technology continue to be closely involved in the ongoing development and support of the web app.

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