Updating models
Update any financial model for new data within minutes.
The 'Update model' mode is a specialized workflow for getting your models updating for newly reported data as quickly as possible. The aim is to have your model updated within 5-10 minutes of a company publishing its data. Model updates can be run in parallel across multiple models, enabling you to have all your models ready even on busy earnings days before market open.
Updating models
When you switch to 'Update Model' in the Excel add-in, a wizard will automatically appear. Following its steps will create a new update job. You can reaccess this wizard at any later point by clicking "Configure a new model update" at the top of the screen.
Select the insertion period.
Choose the period you want to add or update in the model. Most commonly this is the latest reporting period, but you can also use this tool for backfills. For specialised use, you can also set the 'As reported' period to a specific period - this is for use iwth restatements where you want to capture e.g. 2025Q1 as reported in 2026Q1.
Choose comparison columns.
This is the most important input for the model update. You should choose a few existing columns in your model that already contain historical data. Finbar will use the values in these rows as the primary basis for its search, taking care to try adapt reported figures to match your styling (e.g. multipliers, rounding, text formatting).
[Optional] Configure extra options.
The wizard will show extra options that can be used for specific model shapes and use cases. The defaults should work well for most models.
Let Finbar process your model.
You should see your input filled into a unified table. A timer and progress summary will show at the top of the screen, and the table will gradually hydrate with proposed values to insert. Smaller models take 1-2 minutes, complex (>500 row) models typically take ~5 minutes.
Review the output.
There are two ways you can review the output. Before insertion, you can right click on any proposed output in the table and click "View source" to open the value in the original document. Or, you can insert first and then use the 'Open selection source' icon in the add-in header (coloured red/yellow depending on your mode) to view the value's location in the original document. Both render the document and highlight the exact value location directly in the add-in.
Manual update flow
For advanced usage, you can click the 'Auto' toggle to switch to manual mode. This allows you to spawn individual search jobs rather than automatically use your entire sheet.
Follow the wizard instructions to use, similarly selecting 3-5 periods worth of historical data. Functionality for tracing values back to original source, both pre-insert and post-insert, is the same as in automatic mode.