Time is a limited commodity so using it smartly is an absolute must. Therefore, organisations that are working non-stop are not necessarily going to get ahead of their competitors. When you open new doors for your company, you also have to find ways to work smartly and get the absolute best things done.
Snapchat a startup for photo sharing that started with 30 employees, now is the multimedia messaging app used globally. Snapchat is turning down offers from tech giants like Facebook and Google. They became successful in such a short span of time due to their efficiency and smart working style. The secret of getting ahead of your competitors is to work efficiently and effectively. Change your working style with the changing environment. Businesses that rely on spreadsheets to manage their business process are particularly inefficient and this could be potentially dangerous for their growth.
Listed here are 7 reasons that elucidate how spreadsheets are cutting down your productivity levels:
- Spreadsheets are not rapid. It is designed to handle two-dimensional data, therefore for more insights, one has to manually create it. As a business grows, more data starts pouring in and spreadsheets become slow and inconvenient. This leads to time inefficiency as small tasks take a long time.
- Real-time information and live tracking of information is essential in today’s world. With spreadsheet, all data need to be manually updated to see the final report. Productivity gets lost while waiting for important answers.
- Entering and updating data on a spreadsheet is always done manually. When organisations manipulate or edit a large amount of data manually, human errors are widespread and inevitable. Studies have shown that 88% of spreadsheets have significant errors in them. Companies should not rely on an outdated tool that is abundant with errors.
- Finding answers from big data is time-consuming as one has to manually squeeze out the report from big data via complex calculations. It is a pain that no one denies. And constantly updating on spreadsheets is a tedious job itself.
- In midsize to large organisations, each department is maintaining a different spreadsheet to collate data. That in itself is a big hassle as not all departments can access it. The only way to share data maintained on a spreadsheet is via email which often leads to duplication and data error.
- During data analysis and reporting, data is extracted from all departments. Using spreadsheet to create an overview of the business process is extremely time-consuming and it can take several days to complete. This practice lengthens the decision-making process and slows down productivity in a major way.
- Many times spreadsheets are shared via email, which puts important data at a security risk. Also, when spreadsheets are shared on multiple platforms it can become accessible to the wrong kind of people. With spreadsheets, there’s no way to track back who made the changes and when.
An ERP can offer reliable solutions to the above-mentioned drawbacks. FACT ERP.NG helps reduce duplication, process transactions in real-time and update reports instantly helping management to respond faster and make quick decisions in the changing business environment. We have helped more than 100,000 companies worldwide to maintain their enterprises.
To know more, check us out at www.factsoftware.com or email us with your queries at firstname.lastname@example.org.