10 Reasons Why Spreadsheets Are Redundant In 2019

Businesses around the globe are now turning digital, automating every bits and piece of paperwork in order to increase productivity and work efficiency. Moreover, today organisations need technology that can ensure agility and adaptability in this ever-changing world. There's also a cry to manage complex data transaction reports effortlessly between multiple parties and organisations. Having said that, some companies are still reluctant to try new tools which can give their business a real push towards success.

HERE ARE 10 REASONS WHY YOU SHOULD STOP USING SPREADSHEETS, ASAP!

  1. Spreadsheet errors are inevitable
    You have to put millions of data manually, making errors inevitable. Large organisations with various departments and complex paperwork models, need a helping hand to fire up their work speed and meet multiple deadlines without worrying about errors.
  2. Too complicated for big data
    It is time-consuming to squeeze out calculation from big data. It’s a pain with all that formula and big data, spreadsheet is fine with quick and short calculations. Streamlining big data requires new age technology and smart working style.
  3. Veer towards modern technology or lag behind
    Today, businesses have millions of data points pouring in all the time which spreadsheet cannot handle. Therefore, companies that use spreadsheet for operational work are lagging behind. Because using spreadsheet which has been designed decades ago to run businesses that rely on modern technology is foolish.
  4. An absolute success blocker
    Certain mistakes are often created by spreadsheet, which won’t happen with an ERP system. Creating multiple versions of the same data to sort then re-evaluate and calculate often leads to errors which will hinder your success in a major way.
  5. Errors that will cost you big time
    According to thorough research from the University of Hawaii, 88% of spreadsheet contains errors. Another research has shown that almost 90% spreadsheet contain human error/mistakes. Hence working on them will certainly lead to poor financial decisions in the end.
  6. Cuts down productivity
    For every small change, one has to manually put the details. This constant updating of data on spreadsheet is a petty job itself that no one likes to do.
  7. Real-Time view of efficiency is missing
    In today’s world where everything is going digital spreadsheet doesn’t allow you real-time visibility of your business process. The world has changed and our need has evolved but sadly spreadsheet hasn’t kept up.
  8. Errors, errors and more errors
    Common mistakes like double entry and loss of data happen every now and then making the work messy and time-consuming. Spreadsheets came into play 3 decades ago but its main value hasn't changed one bit with the changing time and need.
  9. Tracking and monitoring gets lengthier without automation
    The huge amount of data can be really difficult to analyse or scrutinise without automation. Especially, if your business has a presence over multiple platforms, then taking data out of each platform and feeding it to different spreadsheet would be extremely tedious and it will be cost-intensive, and due to delay in analysis businesses are missing out on opportunities.
  10. High time to find yourself a solution
    Lastly, we have to accept that spreadsheet has become outdated and hasn’t evolved with the digital era where people want everything now!.

Softwares like ERP will serve these purposes just right. It will synchronise all information and communication within the organisation. It will automate all the paperwork, so in the end, companies will save time, manpower and cost. Also, the whole project value chain will be aligned and complex processes will be streamlined efficiently and effectively.

Technology is most certainly the future, that's where the world is heading. Yet, many companies are slow to adopt new technology. FACT ERP.NG provides a fully integrated software for your business to analyse data and track progress in real time. It will bring an end to double entry or losing data. FACT software promises a centralised process for all financial/operational activities including financial transaction & payroll, billing & payments, and business process. To know more about ERP integration, visit us at www.factsoftware.com or drop an email with your queries at info@factsoftware.com.