Enough of this risky sheet!

If you ever get that ‘same sheet, different day’ feeling, you’re not alone.
 
Based on the learnings of tens of thousands of previous deals and conversations with dealmakers, we know that using spreadsheets for deal preparation and execution leads to human error, version control issues.
 
And ultimately, too much risk - on average, 88% of Excel spreadsheets have 1% or more errors.
 
Don’t believe us? Look no further.
 

Top 5 financial spreadsheet fails 

Financial fail #1:
 
The world’s largest asset manager felt the pain of spreadsheets in 2019, when they disclosed the details of thousands of advisory clients by accidentally sharing three unsecured spreadsheets.
 
Financial fail #2:
 
In 2012, a copy-and-paste gone wrong led to an infamous investment banking incident, whereby the company pasted the wrong information into a spreadsheet and seriously understated the risk. The error ultimately resulted in a $6 billion trading loss.
 
Financial fail #3:
 
An outsourcing specialist fund suffered a £4.3 million profit write down in 2011, caused by a spreadsheet error made by an external firm of actuaries. Along with the profit nosedive, their share price also dropped and their chairman was forced to resign.
 
Financial fail #4:
 
In 2011, an Excel templating mistake led a pharmaceutical company to accidentally release confidential company information, which was mistakenly embedded in their financial guidance package. The company had to quickly reiterate all of its financial forecasts, and its share price was impacted.
 
Financial fail #5:

In 2008, an investment bank was forced to pay millions for worthless contracts after an Excel reformatting error led to unwanted contracts being hidden, rather than deleted. Once the spreadsheet was saved as a PDF, the hidden rows reappeared, leaving the investment bank legally obligated to purchase them.
 

Put an end to this risky sheet with Ansarada Workflow

 
Today, we’re  enhancing and protecting your spreadsheets with deal technology that anticipates the myriad of scenarios you’ll need to handle when you’re running deals.
 
Deal Workflow is a project management tool that transforms static spreadsheets into digitized, collaborative checklists that operate in real time. Purpose-built for deals, Workflow allows you to run all your pre-deal processes – including your IRL, NDA & process letter tracking and more – alongside your Data Room.
 
This month, our latest Workflow release goes even further in helping dealmakers reduce complexity. 
 

What’s new:

1. Personal and enterprise-level templates

Templating is the key to standardizing all your workflows on Ansarada. With personal templates, you can replicate your go-to workflows on future projects in an instant to save time and cost every time you set up a deal. With new enterprise-level templates, now you can continuously improve your team’s productivity and quality of execution.

• Save your go-to IRLs as a template you can work on as soon as you open a new Data Room.
• Create and manage a shared library of best-practice organizational templates you can roll out systematically when required. 
• Share templates with your clients to help them better manage their internal processes. Strengthen your client relationships and make your services stand out.

2. Centralize complex process management

Organize sections and items into hierarchies with simple dropdowns, so that the right information is always at your fingertips. Separate your bidders into different stages and easily move them from one stage to the next. Centralize RFIs and more to avoid duplicate questions. Give your client a superior experience.

The more complex your workstreams, the more Workflow can do for you.


3. Move documents straight into the doc index

Once you’ve done all your preparation (for free) using Workflow, move your organized documents directly into your Data Room to execute. Just a few clicks, and you’re ready for bidders or investors to review your structured information.
 

Own your sheet

New Workflow releases launch this month. If you are subscribed to our emails, we’ll send you all the exciting new feature updates as they launch, but if you’d like an early preview, get in touch for a demo here.

The best part? Workflow is completely free for advisors to use. Just one more way we take risk out of the transaction.