It never ceases to amaze me to what extent companies rely on Excel spreadsheets to ‘manage’ their business. The other week I heard the story of a new prospect and their current pains and challenges and how they overuse and depend on spreadsheets. I Googled the words ‘death by spreadsheet’ just for fun. A funny, yet appropriate, carton popped up and caught my eye.
Although an exaggeration, the carton brings home the point that many businesses rely on Excel to manage business critical information. The problem with relying on Excel to handle your reporting and analyzing needs is that the data quickly grows out of date and eventually every user has their own version of a spreadsheet for their own reporting purposes. Do any of the spreadsheets contain accurate information? Rarely. Which one is correct? Everyone believes theirs is.
Perhaps you can relate. Are you currently running an entry level accounting solution like QuickBooks or a similar package and having to use spreadsheets to run your business and rekey information into your system as an afterthought? These products work well for what they are meant to be - an entry level solution. However, once your business grows they inhibit business rather than enabling it.
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Whether you’re evaluating making a change to a different solution to meet your changing needs or evaluating a solution for the first time I’d encourage you to read the whitepaper called, Evaluating Financial Management Software …Is it Time for a Change? The whitepaper provides valuable information on the key areas of a financial management solution so that you are more knowledgeable going into the evaluation process.
By Encore Business Solutions,