For more than 20 years, numerous industry experts and analysts have been predicting that Excel will be replaced by performance management solutions as a planning tool for organizations. But reality has proven different: Studies confirm again and again that approximately 80% of organizations are still reliant on Excel for their budgeting, planning, and forecasting.
The reasons for this are simple: Excel remains the de facto standard for self-service performance management: users can quickly, cost effectively and independently conduct their budgeting, planning, and forecasting, and, if necessary, adapt just as easily and quickly to changes. At the same time, however, the disadvantages of Excel are unavoidable: prone to errors, time-consuming, do not meet modern data security and compliance standards, and often become simply unmaintainable over time.
The Excel+ philosophy has guided Jedox since its foundation: To eliminate the disadvantages without losing the advantages. The Jedox solution offers a powerful native Excel integration in addition to the Jedox Web and mobile applications. But the compatibility goes much further: Existing Excel solutions can easily be transferred to Jedox Web and mobile applications. The functional scope of Jedox is designed so that business users can still work in an Excel environment if they desire and avoid the problems.
Here are some examples:
- With the in-memory database, local data storage can be avoided – redundancies, data security and compliance are no longer a problem
- Rigid columns and row structures in Excel sheets can optimized to let the data lead the way.
- Calculation formulas do not have to be defined in countless cells, but only once centrally at the database level
The Jedox solution allows users across the organization to work in Excel effortlessly if they prefer and design their own custom, sophisticated performance management solutions with minimal learning time if that option best suits their organization. The FP&A of yesterday fully evolves to xP&A to support optimizing value creation with unrivaled flexibility.