There's been a few discussions about Excel on HN recently and it's such a major tool in so many organizations and keeping track of changes is a nightmare.
Here's a classic example:
- Budgeting model for company with ~10 employees and 8 departments. Model has 30 or so sheets. Tracks all assumptions on the revenue and expense sides. Great model, built well, works excellently.
- CFO goes in and changes the conversion assumptions for the year.
- I go into the model after the CFO, notice that net income increased by $500,000 since the last time I looked at it. WHAT THE HELL CHANGED?
Now take this example and imagine you're on a late night call with the CEO, CFO, and CMO. Ideas and thoughts are going back and forth. "Hey, what does it do to revenue if we change assumption A from X to Y?" ... "OK, I like that. What about changing assumption B from W to Z?" ... "Nah, let's not do that."
At the end of the call I have our updated model that everyone is happy with... but I have no way to easily and reliably see exactly what was changed.
The only thing I currently do is setup a reconciliation sheets on the income statement. For each version of the model, I create a new sheet and copy/paste values from the income sheet then I can do a diff and see what numbers changed. This works well, but there's got to be a better way.
PLEASE FIX THIS.