11 Nov Who can live without using spreadsheets these days?
Living without spreadsheets is practically impossible in business process management. Most companies would respond that the most essential tool for assembling and developing data is EXCEL.
As many businesses use spreadsheets for similar actions (data storage, calculations and presentations) it is natural that these companies face similar challenges when it comes to reliability, practicality and security in the data of this tool.
On a low scale of complexity, EXCEL is not such a complicated item to use and delivers practicality in assembling your spreadsheets and demonstrations. But when we talk about highly complex budgets and budget planning, the story changes, and dealing with EXCEL can be a real nightmare many times.
The solution is that there are BI systems, with a focus on finance, that are able to reduce the risk of error and increase the simplicity of business processes, removing the dependence of companies on EXCEL.
Both spreadsheets and BI solutions can play an important role in daily operations.
While you don't necessarily have to choose between one or the other, they are often adaptable to different types of tasks.
Understanding the fundamental differences between spreadsheets and a technology solution is vital if you want to make the best use of either or both. We list 3 differences between EXCEL spreadsheets and a technological solution that helps you in highly complex planning and budgeting.
Reason 1: Different Technologies for Different Actions – Spreadsheets and BI often use different technologies.
[/title][fusion_text]In addition to other programs such as GoogleDocs and Openoffice, the most widely used spreadsheet program is EXCEL, which is part of Microsoft Office. All of these above options are software installed and run on computers and depend on a strength of hardware for the functioning of their functions.
A technological solution focused on data storage and development is a modern web system in the cloud. The fact that the solution is Cloud makes the use of a good part of hardware unnecessary and reduces the final implementation price. In addition, it provides a simple interface with Microsoft Office, which facilitates the process of preparing financial, sales and operations planning in various industries.
Reason 2: The possibilities for errors are greater in Excel.
When we use EXCEL to distribute spreadsheets among small sectors the risk of data loss is small. By transforming this distribution on a large scale (among 50 different employees, for example) this risk of error can almost triple. And that's just the information that can be lost in the spreadsheet transition.
When it comes to spreadsheets with a robust level of data, EXCEL can have bugs that corrode and invalidate certain information in the spreadsheet. In other words, the risks of error are in the software and in the data transition, two different and unnecessary risks.
A technology solution uses powerful engineering calculations that can be used to achieve a high level of business function logic with fast performance that generates instant analysis and reports, in addition to providing user-defined tasks and navigation flows that can be customized. based on the usage needs of different user groups. The risks of software errors are drastically reduced this way.
As for spreadsheet transitions, the technological solution facilitates both the company's own budget planning and its individual sectors, providing secure planning models based on Excel and Web-Excel. Sales, operations and strategic plans can be linked to long-term and short-term financial plans. All in the cloud and in real-time. In this way the transition of worksheets becomes invalid and totally unnecessary.
Reason 3: Access to spreadsheets is limited, access to technological solutions is not.
Access to a spreadsheet is sometimes limited to one person at a time. Using a technology solution instead of spreadsheets, multiple people can access the same dataset simultaneously. This preserves data integrity, which is more difficult to manage when using spreadsheets.
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