A brief look at the key issues and risks faced when using spreadsheet technology for your financial performance management.

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9 out of 10 business still use
spreadsheets to consolidate, report,
plan and analyse

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Spreadsheets ARE an important part of
the business, but often are pushed
beyond their means.

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Here are seven reasons to upgrade from
spreadsheets in the Office Of Finance

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REASON #1
Data
Your spreadsheet is not a database. It’s easy to get an
answer from spreadsheets, but it is not necessarily the
right answer…it’s static data

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REASON #2
Accuracy
When working from version 108 of a spreadsheet,
imagine how many errors could be affecting your analysis
and decision making.

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REASON #3
Scalability
With no plan to migrate off spreadsheets, you are
harming the companies potential opportunity for growth
and expansion.

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REASON #4
Risk
To jog your memory.
A spreadsheet error by the London Organising Committee (Locog) for the 2012 Olympic
Games led to four synchronised swimming events being massively oversold. An employee
accidently keyed in ‘20,000’ rather than 10,000 available tickets. Locog spent the
Christmas period contacting disappointed ticket holders to offer alternatives.

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REASON #5
Time
When migrating off of spreadsheets, and onto a true
Performance Management platform, you will see a
massive return on time investment.

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REASON #6
Flexibility
To properly manage your business and it’s future, you
need access to both past data, and future possibilities by
running scenario-based strategic planning

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REASON #7
Agility
Agility is different to flexibility. Agility is the ability to see
an issue or opportunity and take action or course correct
to find a solution.

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