For more than a year, we’ve been sharing a new, exciting, powerful, or just really cool app with you every week. Some are about improving productivity, others focus on giving your team an awesome user experience, and some of them are just for fun. But this week is a little different. This week’s app is our baby, and we’re excited to announce that we have just launched a new app, the XIRR Calculator by the team at CloudMyBiz!
If you’re a lender or broker, you know how hard it can be to find your return on investment. That’s why we created the XIRR Calculator. Enter the funding and repayment amounts, terms, fees, and commissions, click calculate, and you have your answer. Easy.
Ditch the spreadsheets and calculate your XIRR straight from salesforce using our awesome, new, free app, the XIRR Calculator! And don’t forget to leave a rating and a few comments.
Here at CloudMyBiz, we’re big proponents of formula fields. We’ve shared with you hundreds of formulas that can do anything from formatting data for document merging, to figuring out the exact age of a customer, to even showing dynamic images to help give your team important at-a-glance information. A lot of these formulas get pretty fancy, but what if you need to get down to the numbers and calculate important financials like you’re already doing on an old spreadsheet? Can Salesforce really replace your spreadsheets and give you numbers like compound interest or gross margin percent? In short, totally!
Anything a standard spreadsheet program can do, formulas in Salesforce can do, and generally better. Take for example calculating compound interest: Principal__c * ( 1 + Rate__c / M ) ^ ( T * M) ). Or maybe you need to calculate gross margin: Total_Sales__c - Cost_of_Goods_Sold__c. Salesforce has provided a list of common financial formulas that can give you a fantastic jumping off point for all your financial calculation needs. And if you can’t find what you need there, I find one of the easiest ways to build the formula I need is to open up one of my old spreadsheets with the formula, then paste and translate it into Salesforce. Once you’ve got your calculations working, check out some of the other formulas and start thinking about how to take your formulas to the next level!