12 Reasons You Should Stop Using Spreadsheets for Financial Reporting

The world’s most widely used analytic tool, Microsoft Excel, works well as a personal productivity tool. But Excel and other spreadsheet applications quickly become problematic as you add more users, data sources, formulas, and questions—all of which are critical to understanding and optimizing financial performance.

Spreadsheets are not only extremely time-consuming to maintain but also rife with potential errors. And when your margin tracking, cash flow, profitability, and statutory reporting rely on reports generated by those spreadsheets, you can’t afford the risk.

‍