Webinar: Escape From Spreadsheet HellDate: March 1st, 2011 9:30amPresenter: Scott Long – President, Long Business Systems, Inc. Agenda• Advantages of Spreadsheets• Disadvantages of Spreadsheets• Value of an Integrated Enterprise Database• Reporting Options with an Enterprise Database• Best of Both Worlds: Spreadsheets & Enterprise Databases• Summary
Advantages of Spreadsheetsoo You can do it yourselfo On demand when you need ito Formatted and displayed they way you want or need ito Can work on them at the office, home or while travellingo Simple, powerful and everyone understands the technology
Disadvantages of Spreadsheetsoo You have to do it - or -o Pay someone else to do it, then you have to spec it out and coordinateo Time spent importing or manually updating the data, which affects the time it takes to produce it and the time it becomes obsolete or out of date.o Security, Multi-User Access, Audit Log of Changes, Folder/File Accesso Sarbanes-Oxley compliance, depends on the auditoro Finding the correct source of the data, that is verified to be identical to the “truth”. Such as the general ledger, sales reports, a/r, a/p & inventory valuations
Disadvantages of Spreadsheets Example: Saleso It sounds easy, but coming up with a sales dollar amount can be very challengingo It needs to match the G/L, by Customer, hip To, Item, Summary vs. Detail, Invoices, Credit Memos, Sales Tax Reports, Date Rangeo Challenges: - Drop Ship To Address - Customer Changes (out of business, acquisitions) - Item changes (obsolete/replacement) - Credit memos (full or partial, freight only, sales tax) - Summary vs. Detail, depending on how data is stored in the business system database - Database tables: invoice headers, invoice lines, credit memo headers, credit memo lines
Value of an Integrated Enterprise Databaseoo Central depository for the businesses data: G/L and Transactionso No, or very little, duplicate informationo Timeliness of data: As transactions occuro Secure, Authorization Control, Backupso The source of the “single version of the truth”o Validate all reports, queries and extracts to this datao Can create routines that are stored and called when needed for reporting (single version of the truth that is verifiable)
Reporting Options with an Enterprise Databaseoo Reports from the business management software itselfo Most newer software packages have: - Include many reports, with ways to change the formats for display - Ways to extract data - Tools to create your own reports and queries, using the correct data source - Drag & Relate type functionality - Dashboards and Cockpits
Best of Both Worlds: Spreadsheets & Enterprise Databasesoo Produce standard or reoccurring reports out of the enterprise database using the tools that are included in the softwareo When needed, export these standard reports to excel for further analysis, reporting or presentation.o Able to quickly prove the source by matching your excel data to the enterprise system reports and data.
Escape From Spreadsheet Hell Summaryo Excel is a powerful toolo Make sure the source of data is accurate and verifiableo Don’t spend time re-entering data into excelo Don’t make excel the master source of data
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