Admin. Spreadsheet Templates. March 20th , 2018.
To reduce risks while gaining the natural BI worth of spreadsheets, information and understanding management professionals must discriminate between your various ways spreadsheets are utilized. Then, they have to help users apply advanced spreadsheet techniques and tools for their daily jobs, whilst applying a tightly controlled (or carefully monitored) atmosphere for critical production processes that depend on spreadsheet data.
Conclusions There remains with no doubt a spot for spreadsheets inside the finance department. Using spreadsheets like a tool for driving the Reporting, Planning and Budgeting functions from the enterprise are however, questionable. Its obvious there are other technologies available which suit this function better.
In research conducted recently, 81% of FDs reported their greatest priority may be the precision of revenue and earnings forecasts while 63% reported insufficient budgeting and forecasting systems .
Nearly all first class enterprises today have accepted OLAP like a key technology in delivering information to decision makers. The primary question that needs to be requested isnt if spreadsheets should remain the primary platform for Reporting, Budgeting and Forecasting. Rather, enterprises should ask themselves just how much competitive advantage they are ready to lose by using inaccurate, outdated and inflexible information before alternative technology is investigated.
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