For Investment banking
Ship the pitch model at 2 a.m. knowing it's clean
Trace cross-sheet precedents, catch hardcodes buried in LBO and DCF formulas, and confirm structural integrity without slowing down the deal timeline.
Your day with Formula Audit XL
LBO model: last-pass integrity check before distribution
The MD wants the model in the data room by morning. Before it goes, run a consistency check across the debt schedule. One row in the cash sweep is hardcoded from a draft assumption. Fixed in thirty seconds.
DCF: tracing a number the client questioned
The client challenges a specific WACC input in the valuation. Trace its precedents across the model in one click, from the output cell through the calculation sheet to the assumption tab. You have a clear answer before the call ends.
Comparing live model to the bank's template
You've adapted a house template for a specific deal. Run Model Check on the adapted file to confirm no errors, circular references, or new hardcodes were introduced during the adaptation. Cell Map confirms the structural colour-coding still matches the standard layout.
Handing to a junior for sensitivity analysis
Before the analyst extends the model with additional scenarios, run Cell Map so they can see the structure at a glance, then walk them through Explore Precedents on the key output cells. They understand what drives the model and build the sensitivities correctly the first time.
Investment banking models operate at the intersection of time pressure and zero tolerance for error. A single hardcoded number or broken reference in a distribution model has real consequences. Cross-sheet tracing and a whole-model consistency check, available without leaving Excel, fit the pace of a live deal.
“Tracing a broken reference in a 20-tab LBO used to mean opening every sheet manually. Now it's one click and I have the full chain.”
Stop eyeballing models. Start auditing them.
For Microsoft Excel on Windows: 2016, 2019, 2021 & 365 · No data leaves your machine