Technical Requirements for Financial Modeling
Building models isn't about having the fanciest setup. It's about understanding what you need and why. Here's what actually matters when you're working with financial data in Vietnam's market.
Before You Start Building
Most people worry about having the wrong software or insufficient hardware. The reality? You probably have enough already. Let's figure out what you're working with.
What if I only have Excel 2016?
That's perfectly fine for most financial models. Power Query exists in 2016, and that's the workhorse for data transformation. You'll miss out on dynamic arrays if you're building complex scenario analysis, but honestly, most commercial models don't need them.
Can I use Google Sheets instead?
Depends on scale. For models under 10,000 rows with moderate formulas, absolutely. Once you're pulling data from multiple Vietnamese banking APIs or processing large transaction sets, performance becomes an issue. The cloud saves are convenient though, especially for teams in different provinces.
My laptop has 8GB RAM—is that enough?
For most business planning models, yes. You'll run into trouble with consolidated statements from companies with dozens of subsidiaries or when processing five years of daily market data. But typical three-statement models? 8GB handles that without breaking a sweat.
While You're Building Models
This is where technical choices actually impact your workflow. And where I've seen people waste time on problems that had simpler solutions.
How do I handle Vietnamese accounting data formats?
The comma-as-decimal-separator issue trips up everyone initially. Power Query's locale settings solve this during import. For manual entry, switching your system locale to Vietnam formats everything correctly, though it affects other applications. Most practitioners keep Excel in US format and convert during data import.
What about when formulas slow down to a crawl?
First, check if you're using volatile functions like INDIRECT or OFFSET throughout large ranges. Switching to INDEX/MATCH or structured table references often cuts calculation time by half. Second, look at array formulas across thousands of rows—sometimes breaking them into helper columns paradoxically speeds things up.
Should I learn VBA for automation?
Only if you're doing repetitive formatting or report generation. For data processing, Power Query's M language is more useful these days. Python integration in Excel 365 changes this calculation too, though adoption in Vietnam's business environment is still picking up in 2025.
After Your Model is Complete
Delivery and maintenance create their own technical challenges. Especially when handing models to people with different software versions.
How do I share models with stakeholders who have older Excel?
Save in .xlsx format, not .xlsb, for maximum compatibility. Remove features like XLOOKUP if recipients have pre-2021 versions. Test by opening in Excel Online, which approximates what older versions will display. Consider PDF exports with Excel tabs for view-only distribution.
What's the best way to version control financial models?
Naming convention plus OneDrive history covers most needs—something like ModelName_v2.3_2025-03-15_Initials.xlsx. For serious version control, Git works with Excel files but requires discipline about not opening files in Excel while committing. SharePoint's check-in/check-out prevents simultaneous edits effectively.
How do I protect sensitive financial data in shared models?
Sheet protection with passwords keeps casual users from breaking formulas but doesn't secure data. For actual security, use Windows file encryption or password-protected archives. If you're sharing assumptions but not actuals, consider building separate presentation models that link to secured source files.
Ongoing Support and Updates
Models aren't static. Vietnamese accounting standards update, business conditions shift, and you'll need to adapt.
When should I rebuild instead of patching?
If you're spending more than an hour navigating to make simple changes, the structure needs rework. Same if you're scared to modify anything because of broken links. A well-built model should be self-documenting enough that you can return after six months and understand it.
How do I keep data connections working?
Document your data sources thoroughly—file paths, database connections, API endpoints. Vietnamese bank APIs change authentication periodically. Keep backup exports of critical source data so you're never dependent on live connections. Test quarterly even if the model isn't actively used.
What if software subscriptions lapse?
Excel Desktop stops receiving features but existing files keep working. Power Query remains functional. Cloud features like co-authoring disappear. Most business models survive subscription gaps fine, though you lose access to newer functions. Plan migrations before critical deadlines, not during them.
Structured Data Workflow
Our approach emphasizes clean data architecture before adding complexity.
Validation Framework
Testing scenarios against historical data reveals model weaknesses early.
Stakeholder Integration
Models succeed when built with input from people who'll actually use them.
What Makes Our Methodology Different
- We test models with Vietnamese accounting data from the start, not as an afterthought
- Documentation is built into the structure, not added separately
- Emphasis on maintainability over clever formulas that nobody else understands
- Real-world testing with business users who aren't Excel experts
- Scalability considerations even for initially small models
Who Handles Technical Questions
These are the people who actually answer when you run into technical walls. They've built enough models to know what works in Vietnam's business context.
Vidar Strand
Technical Architecture
Spent seven years fixing other people's broken models before deciding to teach proper structure from the beginning. Has opinions about circular references that he'll share whether you ask or not. Currently works with manufacturing companies in the Central Highlands on inventory valuation models.
Linnea Torvald
Data Integration
Specializes in connecting Vietnamese banking systems to financial models—a messier job than it sounds. Previously worked at a Big Four firm doing audit data analytics. Now focuses on helping mid-sized companies automate their monthly reporting. Drinks too much coffee during month-end close periods.
Need Help with Your Specific Setup?
Technical requirements vary by use case. Let's discuss what you're actually trying to build and determine if your current setup can handle it.