Excel is still the most widely used tool for planning, analytics and reporting. Users in all departments and industries revert to spreadsheets for quick calculations and ad-hoc reports because they are familiar and flexible.
But in doing so, they put your business at risk. spreadsheets bear many risks when it comes to security and access control. Sending spreadsheets by email to multiple contributors often leads to inconsistent results that cannot be reconciled let alone audited at a later time. Spreadsheets are also not designed to handle the ever-increasing amounts of data and analytics demands necessary for real-time, agile Enterprise Performance Management.
* ACCA Member Survey 2018