If numbers could talk
Knowing the origins and assumptions behind financial data can be a challenge. Especially in the C-suite or corporate finance departments where innovation and change can't be locked down in enterprise applications. That’s where you'll find a lot of spreadsheets – agile and under users' control, but traceability is low, and you have to do a lot of looking for things, manual verification, and preparing spreadsheets for audit can be a bear.
How often do you (or your auditors) ask "what's that number? Where'd it come from?" Like this cell with a GDP in it. Did someone make it up? Change it? Does it have a source? GDP of what country? What currency is it expressed in? Thousands? Millions? Too bad you can't just ask it...
Numbers that can tell their stories
Truenumbers are little packages that fuse meaning and context to numbers indivisibly, like little atoms of data. They will still work in a document or in a spreadsheet cell like ordinary numbers, but a truenumber can always tell you exactly what it means, no matter where it travels, in email, documents, program code, anywhere.
Here's the same spreadsheet cell, but containing a truenumber this time. The TrueOffice add-in for Excel can decode the metadata hidden in the number, and even follow a link to the document where the number was sourced.
"OK, neat trick" you're thinking. But it's much more than that. Besides living in spreadsheets and documents, a copy of every truenumber also lives in a truenumber database in the cloud, or your back-office. Suddenly, the simplest spreadsheet-based processes can be more effective with better governance than custom applications. As your truenumber database grows, you'll find it to be one of your most valuable data assets for collaboration and consistency across the enterprise.
One global Fortune 500 company found that Truenumbrs significantly increased productivity and auditability on a $1B M&A transaction, and subsequent audit. The resulting centralized database of financial assumptions and approved numbers will help speed their next transaction.