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 […]
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An Open Door – Where Security Falls Short with Excel Budgets
Using Excel for financial functions is on the decline, per the 2018 Benchmarking the Accounting and Finance Function report conducted by the Financial Executives Research Foundation. Many companies moving off Excel cite the need for better collaborative tools and the need to be able to handle larger and larger data sets. Another significant area where […]
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The Pros and Cons of Excel for Business Budgeting
Excel is a useful business application – in truth, enterprises across the business world use Excel on a daily basis for a myriad of tasks. However, the problem with Excel is when companies start using it for things it wasn’t really designed for – like tasks that could be accomplished much more efficiently with a […]
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Never Too Small for Budgeting and Financial Forecasting Software
Small and medium business owners have lots of reasons for why they start out on their own. Of all of the reasons to start a business, failing isn’t one. Yet 21% of businesses do that in the first year, and 51% have failed in the first 5 years. As a small business owner, if there […]
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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. […]
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Forbes Feature: Why The CFO’s Role Is More Crucial Than Ever, An Interview With Centage’s John Orlando
In a recent interview for Forbes, Centage EVP & CFO, John Orlando, speaks to Jeff Thompson about the impact of technology on the finance industry and how this has ultimately transformed the role of the CFO in the workplace. “Today’s CFO needs to be involved in the interactions among every aspect of the company—sales, marketing, […]
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6 Telltale Signs it’s Time to Move Beyond Spreadsheets for Business Budgeting
It’s easy to understand why companies turn to spreadsheets for budgeting. The interfaces are familiar. The cost of entry is low. The software is accessible to everyone in the company. But as your company grows, using spreadsheets for business budgeting can cause more problems than they solve. As operations become more complex, so does budgeting […]
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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% […]
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Big Data and Financial Reporting
Financial reporting has been the life-blood and focus of companies since the beginning of time. A few things have changed though, like the size of the numbers, the technology used to look at them, and how we share that information throughout an organization. But looking at what financials can tell us has pretty much remained […]
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