Where Excel Spreadsheets Fall Short
Spreadsheets were designed to save time by automating calculations. Yet, more time is spent reconciling spreadsheet data and troubleshooting formula errors that are difficult to identify. Here are some key indicators that it’s time to move off spreadsheets.
Insights are hidden.
Spreadsheets trap data within silos, so it’s difficult to track key performance indicators (KPIs) that reveal the health and trajectory of an organization.
There’s no automation.
Spreadsheets rely on manual entry and formatting of cells and require staff time and expertise to analyze data sets and create graphics to visualize data.
They can break.
Corrupted source files or broken links that are no longer attached to files or folders that were moved or deleted can cause you to lose valuable financial data.
They don’t scale
There are limits to how large spreadsheets can get, how much data they can handle, and how many users can work within them at one time.