Disclaimer: This episode is best experienced in video format. Since we’re testing new tools like Tracelight, the visuals add valuable context and make everything much clearer. We highly recommend watching the video for the full experience.

In this episode of the ModSquad series on Financial Modelers’ Corner, host Paul Barnhurst is joined by modeling experts Ian Schnoor and Giles Male to evaluate Tracelight, a new Excel-based modeling tool. Together, they explore how well it performs across real-world use cases in FP&A, Excel eSports, and corporate finance. From auditing balance sheets to solving Excel battle cases and building five-year forecast models, the ModSquad puts Tracelight through a comprehensive test to assess what it gets right, what it gets wrong, and where it still needs improvement.

Expect to Learn

• How Tracelight performs across different financial modeling scenarios
• The impact of LLM selection and prompt design on tool output
• Where Tracelight excels, and where it falls short, in building models and running checks
• How Excel eSports challenges expose strengths and weaknesses in formula logic
• When these tools can save time, and when they create more work

Here are a few quotes from the episode:

• "If you don't know your stuff, you're going to learn the wrong things; or worse, think it's right when it’s not." - Giles Male
• "The best Excel modellers aren’t the fastest, they’re the most thoughtful."-  Ian Schnoor

Follow Ian Schnoor:

LinkedIn -  https://www.linkedin.com/in/ianschnoor/

Follow Giles Male:

LinkedIn -  https://www.linkedin.com/in/giles-male-30643b15/

Tracelight: https://tracelight.ai/

In today’s episode:

[02:22] - Tracelight Overview & Positioning

[09:46] - Giles vs. Excel eSports Battle Case

[18:00] - Reviewing Tracelight’s Logic and Output

[28:04] - Advanced Test: Championship-Level Modeling

[33:59] - AI Tools and the Learning Curve

[41:49] - Deferred Revenue Schedule Test

[56:26] - Why Doesn’t the Balance Sheet Balance?

[1:02:21] - Fixing Balance Sheet Errors Using Cloud Opus

[1:316:00] - Episode Wrap-Up and Final Thoughts