Our Story, so far...
Spencer Smith
Founder & Creator of FDPack
“Forecasts Done Properly!”
15 years ago, Spencer was one of the first people 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 invest in the FDPack web application that allows the monthly reports to be easily and securely shared across any organisation.
