Obstructive to regulatory compliance Combine items 1, 2, and 3, and what do you get? Not designed for collaborative work Planning, forecasting, budgeting, and reporting are all collaborative activities. Hard to consolidate When it comes to simple data entry and quick ad hoc data analysis tasks, spreadsheets are highly favoured by end users. Read about Business Intelligence 9. Unsuited for business continuity As mentioned earlier, data in spreadsheet systems are never kept in a single place.
Scales poorly As an organisation grows, data in spreadsheet-based systems get more distributed; subsequently compounding the issues outlined above. Related Posts. Disadvantages of Spreadsheets. Spreadsheet Fraud. Spreadsheet Risk Issues. Contact us. Next Spreadsheet Risks in Banks Next. Denizon 1 week ago. Denizon 9 months ago. To be resilient and thriving requires a comprehensive, forward-looking approach to watermanagement that builds o… Read More.
If you are concerned about increased energy bills, there are many simple st… Read More. Denizon 10 months ago. Cloud Security Denizon have you covered. Denizon 11 months ago. Read More. Explore exciting opportunities to join our team. Contact Us Questions? Despite recent advances in business intelligence software, far too many organizations continue to make heavy use of spreadsheet applications like Microsoft Excel. According to a survey of finance executives, 70 percent of organizations remain heavily reliant on spreadsheets and manual processes for their financial workflows.
Final Thoughts In order to avoid the issues above, you need to move outside the Excel bubble and work with a business intelligence solution built specifically for enterprise data analysis and reporting. He has led initiatives using service-oriented and web architectures for transactional, analytical, and web business-enabled solutions using leading vendor solutions and technologies. Related Posts. Vijay Muthu February 4, Integrated planning is the way of the future, as we align individuals to strategic initiatives to show their direct impact on organizational goals.
As we make way for more detailed planning, better integration with other performance management processes, shorter planning cycles and a stronger focus on key factors and value drivers, the need to save time on the front end of data collection to be able to spend more time on analysis is increasing.
Right now, it takes so long to coordinate resource-intensive planning efforts that the plan is often outdated by the time it has been signed off on and implemented using multiple planning tools. AchieveIt is the platform that large organizations use to get their biggest, most important initiatives out of the boardroom and into reality.
What does it take to actually guide these initiatives all the way through to completion? Subscribe for plan execution content sent directly to your inbox. Paige Pulaski Jones. Share 0. Tweet 0. This can become a big problem, especially when some industries require you to log this information for compliance reasons.
You can easily do this on a cloud platform, but not using a spreadsheet. In my experience, management by spreadsheets was extremely disjointed. And who knew how updated the schedule and plan even was. The rows and columns were only a bit friendlier and easier to read than the Gantt chart the project team was seemingly trying to avoid. These days, cloud applications let project managers and teams view their schedules and project data via a range of views that suits their information and consumption needs.
And, the better planning tools automatically update plans as changes are made, in real time. Likewise, a senior programmer without experience using project management software can view the same data as a calendar or a task list—depending on how they best understand information. The rise of Agile and other processes means the time has come for enterprises still hanging onto their customized project management solutions to decide if the overhead costs are worth the continued investment. Maintaining tools like custom spreadsheets only add to the costs and frustration of the process.
These enterprises need to analyze whether moving project management to the cloud offers access to more usable and up-to-date project management tools for management, teams, and stakeholders. Sparing your project teams from the wrong project management tools and putting in a user-friendly and effective cloud-based project management platform benefits team collaboration, scheduling, productivity, and overall project tracking better than force-feeding project management data into a spreadsheet or other legacy app.
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