Companies large and small spend countless hours each year developing detailed business plans, forecasts and reports to drive their strategic decision-making and performance management processes. It’s critical that the information be timely and accurate, and that it can be easily updated as business conditions change. However, to deliver these plans and reports, most organizations rely on the spreadsheet.
Though a useful and popular personal productivity tool, the spreadsheet is poorly suited for enterprise-wide planning and performance management. Errors are common. And the larger the spreadsheet, the greater the chance for a small error to be magnified, exposing the organization to significant levels of risk.