Catch22 Technology

Catch22 Technology offers a Financial Modeling & Consolidation System which is a distinct departure from other existing systems. The distinction lies in its accounting approach to financial modeling. It is based on the transactions themselves, not merely on the ending account balances.

The system enables you to define the logic governing the projection in the form of rules. Rules define and compare relationships between accounts and other variables that affect business operations. These relationships are processed in the form of individual business transactions, for which accounting integrity is maintained via simultaneous Double Entry (Debit/Credit) of balances for financial accounts.

The transactional orientation of the model is its salient feature. By sequentially processing all of the individual transactions, the system will produce financial statements that reconcile with each other and an audit trail for comprehensive evaluation of the model's results.

Until now, Spreadsheet applications were a reasonable first step, but they have inherent problems – including industry documented high error rates associated with use of a spreadsheet framework – because they concentrate on the account balances to produce “Balance Ending” financial models.

Unlike Spreadsheets, our product utilizes the actual transactions to simulate assumptions in the model. This overcomes the limitations of having to work with cryptic formula cells, leads to more realistic results with self documenting models, and ensures that the Balance sheet and Income Statements are in balance and are synchronized with the Cash flow Statement. By using transactions, a complete Audit Trail is automatically created that will trace and provide a clear understanding of how all account balances were generated.