Read further about Implementing Large-Scale Business Change So when it?s time for a new person to take over as part of a large scale business change, the newcomer may have to start from scratch. In the end, spreadsheet files become highly personalised user developed applications.
#EVE LP STORE SPREADSHEET SOFTWARE#
Spreadsheets are normally created by individuals who have not the slightest know-how regarding software documentation. If your business is not agile enough to adapt to such changes, it could easily be left behind or even face extinction. Mergers and Acquisitions, Management Buyouts, earthquakes, tsunamis, hurricanes, uprisings, climate change, new technologies, and so on. We’re now in an age when major changes are shaping and reshaping the business landscape. Well, if you?re still using spreadsheets, then there certainly is a better way. Now, you tell me that you haven?t wished there was a better way to beat regulatory compliance deadlines. Over the last two decades, we’ve seen a surge in regulations that directly affect spreadsheet-based systems. Some of the many regulations that impact spreadsheet systems include:Īnd to think it looks like regulatory bodies are just getting warmed up. There are number of regulations that have a serious impact on the use of spreadsheets. It?s pretty obvious now how you?ll also encounter a similar problem when troubleshooting questionable data.Ĭombine items 1, 2, and 3, and what do you get? A big headache impacting regulatory compliance.
Worse, even if you are able pinpoint the locations of every related file, tracing the logic of formulas from one related cell to another can take ages. It?s not uncommon to have interrelated spreadsheet data scattered across different folders, workstations, offices, or even geographical locations. So how about testing spreadsheets to mitigate the risks of items 1 and 2? Good luck. Missed negative signs and misaligned rows may sound harmless.īut when they damage investor confidence or cause a considerable loss of opportunity amounting to millions of dollars (Are we serious? Google up ?spreadsheet horror stories? to find out), you should understand that it?s time to move on to better alternatives. And that is its extreme susceptibility to even trivial human errors. While fraud will always be a threat to spreadsheet systems, there is a more significant threat that should make you seriously consider getting rid of these outdated systems.
The main underlying reason behind this spreadsheet vulnerability is the inherent lack of controls, which makes it so easy to alter either formulas, values, or dependencies without being detected. Fraudulent manipulations in company Excel files have already resulted in Billion-Dollar losses. Of all the spreadsheet disadvantages listed here, this is perhaps the most damaging. The main underlying reason behind this spreadsheet vulnerability is the inherent lack of controls, which makes it so easy to alter either formulas, values, or dependencies without being detected.Ĭomprehensive information and data your organisation needs, to circumvent the threats posed by spreadsheets.