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Forecastr Beta Update – July 2021

Tuesday, July 20th 2021 (3 days ago)

Hey everyone! I’m Zack Pennington, our new Head of Product Marketing here at Forecastr. I’m a fellow entrepreneur that has both raised money and built financial models for my own businesses. So, like the Forecastr Founders, I’m one of you all and can relate to what you’re going through.

My goal is to become the collective voice of the customer inside the Forecastr Team to help make our products and services as useful and usable for y’all as possible. If you ever have any questions, ideas, or feedback, don’t hesitate to reach out to me directly. If you’re ever in Austin, Texas, I’d love to hear your thoughts in person over some tacos!

With my intro out of the way, let’s discuss some new features and improvements to the Forecastr Beta…

New Features

Formula View On Hover has been added to the Data Table:
Ever wondered where the numbers in each cell are coming from? Formula View On Hover lets you see the underlying inputs and formulas of individual cells just by hovering over them. Now, you no longer have to dig through the ‘Edit Metric’ modal in the slide-out ‘Drawer’ to figure out how a given number came to be.

Currency Selection has been added to the Scenarios dropdown:
Previously, all of our Models defaulted to US Dollars ($). Now, you can select your preferred currency for each Scenario from the ‘Edit Gear Icon’ next to the Scenario name. You can even have different Scenarios use different currencies in order to tailor your model to investors in different countries.

UI/UX Improvements

New Bar Charts have replaced the old Line Charts on the Assumptions Tab and rows can be turned on/off by colored toggle boxes in the Data Table:
Charts are now easier to read because you can see the relative size of various rows of your model. You can also turn on and off individual components in the chart to better visualize your data.

Updated “Revenue, Net Income, Cash” graph on the Dashboard:
Revenue is now a Bar Chart and Net Income and Cash are Line Charts to make it easier to see where your cash gaps are and when you become profitable.

Updated Dashboard Expenses Pie Chart now includes People as an expense:
For many companies, like ours, People are one of the most important expense categories to track. Now the Expenses Breakdown Chart includes your spending on People, and you can see how it breaks down by department or even person.

Customer Acquisition and Revenue sections have switched places and Hiring Plan has been renamed People:
Usually, you acquire customers before earning revenue, right? That’s why we moved the Customer Acquisition Section to the top of the Assumptions Sidebar and made it the default landing page of the app. Also, not all people in your organization will be full-time hires; there are Co-Founders, contractors, advisors, and more. In the spirit of consistency and clarity, we renamed the Hiring Plan Section of the Assumptions Tab to “People”.

Updated icons for Assets, Liabilities, Equity Sections of the Assumptions Sidebar and Income Statement, Balance Sheet, and Cash Flow sections of the Financials Sidebar that are better representations of those concepts:

Forecastr Brain and Request a Feature shortcuts have been moved from the bottom of the Sidebar up to the Navigation Bar and turned into icons:

That’s it for this release! Stay tuned for future releases!

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