Client: insightsoftware, LLC
Format: Whitepaper
Size: 3.17 MB
Language: English
Date: 07.04.2025
Why Spreadsheets Are Still Filling the Reporting Gap
Despite the plethora of different business intelligence and software solutions available on the market, the humble spreadsheet remains the workhorse of finance. 1.2 billion people use Microsoft Office suite, which includes Excel–while Google’s G Suite, which includes the spreadsheet application Google Sheets, has exceeded two billion users.
Spreadsheets fulfill a crucial role in enabling non-technical finance professionals to create appealing operational and management reports. With the ability to store and share spreadsheets on the cloud and via mobile devices, the future of the spreadsheet is more assured than ever.
However, the near-constant market changes of the last few years have dramatically increased the expectation of frequent, accurate financial reporting. Reduced timelines and the need for as-it-happens information have revealed some crucial weak spots in spreadsheet-based financial processes.
Accounting and spreadsheets are an odd couple. Accounting is a precise discipline, obsessively accurate out of necessity. Yet, error-prone, manually crafted spreadsheets are still widely used. According to the 2022 Finance Team Trends Report by Insight Software and Hanover Research, over half of finance teams are unable to completely execute tasks because of time-consuming, manual processes.
Thankfully, there are some quick and easy adjustments that you can make to bring your spreadsheet processes into the 21st century.
Spreadsheets fulfill a crucial role in enabling non-technical finance professionals to create appealing operational and management reports. With the ability to store and share spreadsheets on the cloud and via mobile devices, the future of the spreadsheet is more assured than ever.
However, the near-constant market changes of the last few years have dramatically increased the expectation of frequent, accurate financial reporting. Reduced timelines and the need for as-it-happens information have revealed some crucial weak spots in spreadsheet-based financial processes.
Accounting and spreadsheets are an odd couple. Accounting is a precise discipline, obsessively accurate out of necessity. Yet, error-prone, manually crafted spreadsheets are still widely used. According to the 2022 Finance Team Trends Report by Insight Software and Hanover Research, over half of finance teams are unable to completely execute tasks because of time-consuming, manual processes.
Thankfully, there are some quick and easy adjustments that you can make to bring your spreadsheet processes into the 21st century.
