I would like to tell you few things about Farseer and how I got the idea to create it.
Almost my entire life I played with code and hardware, but after engineering school, I somehow wound up working in the Marketing department of a small telecom company, where I had to learn how companies such as mine work.
My position required for me to get familiar with nearly all company processes. I had to manage large annual budgets and handle product and service lifecycles, model various business propositions and create financial forecasts in a market that was extremely dynamic. I learned a lot while working there, but I consider these 4 realizations to be the most important:
- It takes a lot of time to create a good financial plan with all the related activities and sales targets included because a myriad of factors affects the results.
- If a company engages more people in business planning, that doesn’t necessarily mean the process will be more efficient.
- Most of the time, spreadsheets are very useful tool in a company but sometimes, they can cause chaos.
- Same data is treated differently on different company levels.
I think that all of my coworkers from that period would agree with me. Most of the problems we dealt with on a regular basis were somehow connected to one (or more) of these four facts.
Being an engineer, I couldn’t just accept this as a given. Usually, when I encounter a problem in a certain process, I immediately start analyzing underlying mechanisms and try to isolate all reoccurring patterns that cause it. So I began doing the same thing here.
After nearly a year of brainstorming, researching and collaborating with my friends at Kod Biro, a small but very effective team of software professionals, we came up with a tool that helps reduce and/or eliminate the problems I mentioned earlier – Farseer.
How did we do it?
First, we created one source of truth for the entire company, so, no matter the size of the operation, every employee that has anything to do with data entry, has their own designated place in the system to do that, and no one can do it except them. Chief officers or administrators can assign responsibilities and get immediate feedback when a certain entry is done.
Considering the chaos that multiple versions of same spreadsheets can cause, we knew we had to make a new way of viewing and editing the data, so we created Clusters and Flows system, and simplified the user experience while preserving quantity and quality of information.
Manual labor may be good for building character, but it’s not always the best solution when building a company. In Farseer, all relevant data, down to the single smallest detail, is entered into the system only once. All complicated calculations are being done automatically, according to criteria set by the management, or system coordinators.
We also wanted to enable managers/chief officers to ‘’play’’ with data, and create various business models and What-if scenarios, based on the actual numbers, before deciding what’s best for the company so we built a Simulator that does exactly that.
These are just some of the functionalities of our amazing software, but I don’t want to overwhelm you in the first post.
(We’re pretty proud of what we built so far, but working on a software such as this is an ongoing process, and as we go further down the road, we’re hoping to hear more from you. so please, ask, comment and suggest)