Beware the Error: How Spreadsheets Can Ruin Trust with Leadership

Any leader will tell you that trust is a critical component of business. Customers respond positively to businesses they trust, and abandon those they don’t. Good managers spend at least part of their day building and establishing trust with their employees. Employees know that company leaders need to trust them to do their jobs, and […]

Falling Short – Excel and Financial Reporting Problems

When it comes to financial reporting, Excel is the go-to for many companies, from small start-ups to larger corporations. In fact, the Financial Executives Research Foundation reported that 69% of companies surveyed continue to use Excel as their main tool for budgeting and planning, despite all of the issues with using spreadsheets for this purpose. […]

The Dangers of Manual Spreadsheet Reconciliation

At the end of every month, quarter and year, finance teams across the globe spend thousands of hours reconciling spreadsheets manually to close out company books in Excel. If this includes your company, don’t worry, you’re not alone. In fact, according to the Robert Half and Financial Executives Research Foundation benchmarking study from 2016, 52% […]

Spreadsheets Behaving Badly: 3 Common Mistakes to Avoid

You don’t have to go far to find a CFO or budget manager who has suffered from making spreadsheet mistakes. In fact, it happens more than you think. A 2015 YouGov study that looked at spreadsheets found some surprising data: 20% of surveyed businesses “suffered a direct financial loss due to poor spreadsheets.” And 16% […]

[INFOGRAPHIC] Billion Dollar Excel Errors Make You Think Twice

Remember VisiCalc? ESPN launched, Madonna was in charge, and gas was 86 cents a gallon. That was 1979 believe it or not. Lotus 1-2-3 hit the market in 1983 followed by Microsoft Excel in 1985. Each spreadsheet was revolutionary in its time and Microsoft Excel hasn’t been a slacker by any means. Jumping from 64,000 […]

The Last Day of the Accounting Period Phenomenon

Is shipping on the last day of the month that important and at any cost? In my work in management consulting in the areas of accounting and finance I get involved with many client companies’ financial statement preparation, disclosure work and internal control (plus internal audit in several of the larger companies). What is common […]

How to Easily Manage Software License Renewals

How you can have Planning Maestro manage this task with ease and accuracy All organizations rely on software products in their daily operations across all departments and business segments. Enterprise software ranges from ERP, accounting and finance applications to engineering, CAD, CAM, marketing and sales automation and also includes the software I am using to […]

Financial Planning and Analysis – Art or Science?

How technology reduces the “art” element in successful FP&A activities This morning I received an e-mail from Proformative.com inviting me to a webinar titled “The Art (and some Science) of Great FP&A”. I am glad to see a resurgence of such an important facet in any company’s finance department and the increasingly stronger endorsement of this function […]

Forecast and Monitor your Loan Covenants Compliance

How loan covenant compliance can be forecasted with Budget Maestro and Displayed by Analytics Maestro   There has been a recent series of blog posts on this site of why companies must regularly forecast their balance sheets Why you Must Forecast your Balance Sheet Part 2. There is also an older blog post on one of […]