8 Reasons Why It’s Time to Move on From Microsoft Excel
“People do not plan to fail, they fail to plan.”
Have you heard this quote before?
We are sure you have.
Everything is a learning experience, including annual budgets.
Annual budgets are the framework for both the income and expenditures expected to be received and paid each year.
Is your organization currently using Microsoft Excel or legacy on-premise applications to create the annual budget?
Research shows Microsoft Excel is an outdated, ineffective tool for BPC processes because it is slow, error-prone, lacks transparency, and offers little capability for predictive analysis. Your organization could be at a disadvantage with these tools because they are not equipped to handle the demands of a nimble, universal ledger structure, putting a drag on financial operations.
Now is the time to move away from manual activities and makeshift performance management systems that only look at the historical perspective of the business.
Techwave’s expert SAP BPC Consultants look at the reasons why your organization should move on from Microsoft Excel for Business Planning and Consolidation (BPC) processes:
- Spreadsheets are a single-user, static tool. They are a valuable financial tool but on a personal level.
- Requires manual effort to compile data.
- Difficult to collaborate and share updates, patterns, and trends on dashboards across an organization.
- There’s a lot of room for human error when compiling the data and sharing the reports via email.
- Difficult to create complex formulas other than “Sum” and “Sort.”
- Lack of security regarding access control and corruption.
- Not compatible with real-time data, insights, planning, forecasting, and reporting.
- Limited accessibility from mobile devices.
Are you ready to make better business decisions based on “what-if” analysis and scenario planning?
Do you value collaboration tools to improve accountability and planning accuracy?
Do you strive to reduce cycle times, gain real-time access to data, and strategically align your plans with your organization’s goals?
Now is the time to make a change.
The SAP BusinessObjects Planning and Consolidation (BPC) software offers clients planning, budgeting, forecasting, financial consolidation, and reporting in a single application.
The SAP BPC reporting tool offers a consistent look and feels for users working with financial reporting, monthly consolidation, or annual budgeting processes.
Operational planning, cost allocations, labor planning, and CAPEX planning can also benefit from the SAP BPC reporting tool.
Trust Techwave to:
Are you ready to improve the planning, budgeting, forecasting, and financial consolidation?
Does your organization’s current closing cycle process give you the control you need?
Do you want better forecasting results?
Techwave’s experienced SAP BPC consultants can help you achieve lasting independence, lower overall costs, and improved BPC capability.
If your organization is still using Microsoft Excel to create the annual budget, please visit us online for more information on how you can get back to business with faster closing cycles.