What’s New in Jirav: April 2021

 

So many expenses are driven by headcount. Wouldn’t it be nice if your staffing plan was connected to your financial forecast? With Jirav, it is! And now with improvements to Standard Drivers, we’re making it even easier to build plans based on your actual and projected headcount.

That’s just one of the highlights in our latest release. Here are all the features the R&D team added to Jirav in April.

  • More Standard Drivers
  • Improvements to existing Standard Drivers
  • Standard Drivers in Custom Tables
  • Ability to add Standard Drivers from the Drivers page
  • A More Intuitive Setup → Actuals page
  • Ability to swap accounting systems

Let’s dive in!


New Standard Drivers

As I mentioned in March, we’re just getting started with Standard Drivers. Here are two new options for you to build drivers from scratch without coding formulas:

 

Amount Per Headcount

With this driver, you can forecast an account as a function of your headcount, either cumulative or new. You can multiply headcount by a hardcoded number or reference a value in your Assumptions.

 

4-4 Standard Driver - # per Headcount - Office Supplies

 

In the example above, I have forecast my Office Supplies expense as $50 per head across all departments. As my total headcount goes up and down, my Office Expense account adjusts. That means if I make changes to my Staffing tables, I can rest assured that headcount-based drivers will update automatically in Jirav.

 

% of Another Account

This Standard Driver allows you to quickly forecast an account as a percentage of another account. You can use either a hardcoded percentage or reference one of your Assumptions.

 

4-4 Standard Driver - _ of Another Account - Employee Benefits

 

In the example above, I’ve forecasted my Employee Benefits as 20% of Salaries. This time, instead of hardcoding the number, I’ve referenced a value in my Assumptions tables.

 

4-4 Assumptions - Employees

 

Note that you aren’t limited to salaries or GL accounts with this driver. You can reference any line in your model, including lines in Custom Tables, Goals, and our KPI Library.

 

4-4 Picker

 

Improvements to existing Standard Drivers

We’ve also improved on some of the Standard Drivers released in March.

 

Growth on Historicals

Now you’ve got more options for calculating growth using historical period over period change. In addition to the same month as last year, you can also choose the full previous year. If you choose the latter option, you can allocate the result evenly or based on seasonality.

 

4-4 Growth on Historicals New Options

 

We’ve also enabled periodic increase by percent or fixed amount over a number of months or years. You can grow from last month, the same month last year, or a historical average (trailing 3-month, 6-month, or 12-month average).

 

4-4 Growth on Historical Periodic Increase

 

Annual Target/Fixed Spread

We enhanced the Annual Target and Fixed Spread drivers so users can specify an Explicit Spend in certain months. If you’re using a Fixed Spread driver, the Explicit Spend will not affect the driver calculation in other months. If you’re using an Annual Target driver, it will adjust to keep the total amount in balance.

 

4-4 Annual Target - Explicit Spend

 

Note: At the moment you can’t use Explicit Spend on lines in Custom Tables. The R&D team is working on adding this capability.

 

Standard Drivers in Custom Tables

Now you can add Standard Drivers to your Custom Tables. We’re also working on enabling you to create Global Standard Drivers. Not using Global Drivers yet? Learn more about Global Drivers

 

Add Standard Drivers from the Drivers page

Now you can add Standard Drivers directly from the Drivers page (where you can see all your Plan’s Drivers in one place). 

 

Right now Standard Drivers are listed separately from Custom Drivers. In a future release, we will list them alongside Custom Drivers in the appropriate module section (Revenue, COGS, OpEx, etc).

 

A more intuitive Setup → Actuals page

We’ve also revamped the Setup → Actuals page to make it easier to get started with Jirav.

 

4-4 Setup Actuals Revamp

 

Swap accounting systems

Finally, just about all high-growth companies eventually switch accounting systems. We’re making it easier to do so by enabling you to disconnect your accounting system (such as QuickBooks or Xero) and connect to a new one (such as Oracle NetSuite), making the process of migrating from accounting software to an ERP as seamless as possible on the finance side.

 

Helpful April 2021 release links

That’s all for now! I hope you enjoy our latest features and fixes. Here are a few helpful links to accompany our April 2021 release:


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About Jirav

Jirav delivers smarter financials and faster insights, helping you understand where your business has been and forecast where it’s going. Our all-in-one budgeting, forecasting, reporting, and dashboarding solution offers faster implementation and a more intuitive interface allowing finance leaders to build financial models in hours, not days, and generate financial reports in minutes, not hours.