Frequently Asked Questions

Note: This is not a technical support page. For technical support go to our Help Center.

Modano Excel Add-In

What does the Modano Excel add-in do?

The Modano Excel add-in is a content management system (CMS) for Microsoft Excel®. Put simply, this means that high-quality, standardized, best practice financial models can be built and reviewed extremely quickly, and pieces of Excel spreadsheets can be reused, shared and made dynamic without the need for templates. These pieces are called modules and are linked together like Lego® pieces when creating financial models.

The Modano Excel add-in relies on the best practice standardization framework provided by Best Practice Modeling Guidelines and implemented in accordance with Modular Financial Model Development principles.

The best way to understand how the Modano Excel add-in works is to request a free via our Get Started form and undertake the practical online training exercises included within this trial.

Does the Modano Excel add-in add macros to my workbooks?

No. The Modano Excel add-in uses code to manipulate Excel workbooks, but do not add macros to the works that it manipulates. Hence, Excel workbooks built using the Modano Excel add-in are macro-free and can be used by any Excel user, irrespective of whether they have the Modano Excel add-in installed.

Does the Modano Excel add-in work on Microsoft Excel® 2007, 2010, 2013, 2016 and 2019?

Yes. The Modano Excel add-in works on all (Windows) versions of Microsoft Excel® from 2007 to 2019. Modano is sold under an annuity-based licensing system which is designed to always ensure compatibility with upgraded versions of Microsoft Windows® and Microsoft Excel®.

Does the Modano Excel add-in work on Macs?

The Modano Excel add-in can be used on a Mac but you will need to install Windows and Microsoft Excel for Windows, as Modano does not work on Excel for Mac. The models you build using Modano can be used like any other Excel spreadsheets on Excel for Mac without Modano or Windows installed.

You can install Windows and Microsoft Excel for Windows using either Boot Camp or Parallels Desktop for Mac. For more information on this see Mac Users.

Do you offer volume discounts?

Yes. If you are considering purchasing a multi-user subscription you can request a volume discounted subscription.

As a general rule, we start offering discounts for 11+ user subscriptions, but we also offer packages including content add-ons, support credits and training for less than 11 users.

Does the Modano Excel add-in make spreadsheets more difficult to audit?

No. The Modano Excel add-in provides a best practice infrastructure for Microsoft Excel, but does not place any requirements upon model developers which cause an increase in formula complexity or audit difficulty. In fact, the implementation of the best practice modeling guidelines using the Modano Excel add-in is more likely to dramatically improve the auditability of a spreadsheet model which, when combined with the significant reductions in build time which can be achieved using the Modano Excel add-in, often greatly reduces the overall model development cost.

Furthermore, the Modano Excel add-in provides an entire new level of spreadsheet content control, sharing and re-usability which, if used effectively, has the potential to dramatically reduce the risks associated with spreadsheet development, usage and sharing.

How is the Modano software licensing managed?

The Modano Excel add-in is licenced on a per-user basis as per our end user license agreement.


What makes Modano different to other consulting firms providing financial modeling services?

Modano's financial modeling services team is dedicated to empowering clients with solutions that stand the test of time.

Our team use the Modano Excel add-in to build higher quality, scalable financial models for our clients at more affordable rates than other consultants charge to build static, non-best practice financial models.

We also help organizations create and implement their own tailored best practice modeling guidelines, thereby improving the quality and efficiency of their financial models while reducing risk and audit costs.

As the global industry leader in financial modeling innovation since 2002, we've built thousands of models of businesses across many industries, with our clients including ANZ, Barrick Gold, Origin Energy, AGL, Mirvac, NAB, BlueScope Steel, Grill'd, JB Hi-Fi, the Saudi Arabian Government, and many more.

Led by James Longden, a world leader in financial modeling with over 20 years of experience, we guarantee you a better way of meeting your financial modeling requirements.

For more information about Modano's journey so far, and the road ahead, see our About Us page.

My business is unique. Are you sure Modano's approach would work on my business?

Yes. Every model we build for our clients is completely unique and built from the bottom up to meet specific requirements after a detailed scoping process. There are very few types of businesses that we haven't modeled over the past 20 years.

From a software perspective, the Modano Excel add-in can be used to improve the quality and efficiency of any financial model that can be built using Microsoft Excel, which is why it is now used in over 20 countries around the world to build and maintain all types of models across all industries.

Additionally, Modano is approach-agnostic, meaning that we can help you build your financial models in accordance with any best practice approach you choose. We can even help you create your own tailored best practice modeling guideline.

How much would it cost to have a financial model built for my company?

The cost of having Modano build a financial model for your company would be determined based on the complexity of your business and your modeling requirements. Historically, Modano has undertaken financial modeling projects ranging from small clients with budgets of around $5k to very large clients with budgets closer to $1m.

For your company, we would recommend completing our Build Me A Model form and provide as much information as possible. One of our experts will then contact you on a commitment-free, confidential and complimentary basis to provide you with an indicative quote.

What if I don't agree with Modano's definition of best practice modeling?

Modano is approach-agnostic, meaning that we can help you build your financial models in accordance with any best practice approach you choose. We can even help you create your own tailored best practice modeling guideline.

My company is relatively small. Can Modano help me?

Yes. Whilst many of Modano's clients are large organizations, our systematic approach and the efficiencies which it creates make it much more viable for us to service smaller companies at a relatively small cost compared with traditional premium financial modeling consultants. One of our ambitions is to make high quality financial models available to all companies, large and small, and our technology is already helping us achieve this goal.

If you can justify spending $5k per year on a historical accounting package, we believe you should also be comfortable justifying spending $10k per year on a business planning model which is arguably much more important for strategic decision making. And if you're comfortable building the model yourself, you could achieve the same outcome for less than 10% of this price using the Modano Excel add-in, if possible leveraging premium content add-ons.

Which industries does Modano service?

All industries. Modano's financial modeling services are not industry-specific - we service clients in the utilities, infrastructure, mining, manufacturing, retail and regulated water industries to name but a few.

Obviously there is less lead time when working with clients in industries in which we have relevant experience, and even less when we are able to leverage existing premium content add-ons, but even if this is not the case our mentality is that we build models based on the particular requirements of each client.


What training options does Modano offer?

Modano offers practical interactive online training and on-demand in-room group training courses.

Online training is included in your Modano Excel add-in subscription, while our on-demand training courses are priced based on specific requirements. Contact us to discuss your training requirements.

What kind of companies use Modano's training services?

Modano provides training courses to accounting firms, investment banks, commercial banks and management consultants. We also provide training to individuals looking to improve their skill set when applying for jobs in these professions.

Is Modano training right for me?

Our training courses are provided by financial modeling experts who are passionate about improving the quality of financial modeling throughout the market. Whilst we offer some basic Microsoft Excel® training courses, the primary purpose of attending our training courses is to become capable of building best practice whole-of-business integrated financial models. Hence, if this is the skill set you are seeking, Modano's training courses are right for you.

How much do your training courses cost?

Online training is included in your Modano Excel add-in subscription, while our on-demand training courses are priced based on specific requirements. Contact us to discuss your training requirements.