One of the early adopters of RitchViewer was tied up in a lengthy case of what you might call a potentially faulty model. The legal teams for both sides were paying expensive fees for subject matter experts to debate aspects of the model and the process.
A resolution was quickly reached as a consequence of simply being able to visualise the models in question using RitchViewer; thus shutting down debate between subject matter experts on both sides of the dispute.
Avoidance is the best policy
When you enter a transaction the last thing either party is aiming for is to spend hundreds of thousands of dollars on lawyers and subject matter experts.
Both parties want success for the other party and themselves.
RitchViewer was built for Analysis Insights and Collaboration
Many times relationships break down due to lack of effective communication. Have you ever been in a meeting or had a conversation that ended without anything being accomplished? You talk over a topic in meeting for hours and it still ends up unresolved or in an uncomfortable stalemate. You walk away and wonder, “What are we doing wrong? Why couldn't we put an end to this problem?”
If you are the supplier or recipient of an Excel based model, then use RitchViewer throughout the process to evaluate the accuracy and more importantly the outcomes of the process.
- RitchViewer not only lets you see inside the model, but also may reveal unintended outcomes of drivers of the business process the model represents;
- RitchViewer allows both parties to walk through the model and collaborate on the analysis and insights the model brings to the business or project.
More resources on model accuracy and outcome
These problems are not restricted to a small number of organisations or individuals. There is a plethora of content and organisations that relate stories from others in the same situation you might be in. Below are sample resources on model accuracy and outcome.
Horror Stories - European Spreadsheet Risks Interest Group…
FAQ: Reinhart, Rogoff, and the Excel Error That Changed…
Damn Excel! How the 'most important software application of all time' is ruining the world
Eight of the Worst Spreadsheet Blunders (www.CIO.com)