Are you still using Excel spreadsheets to manage your budgeting, forecasting and financial reporting requirements? If so, you are not alone. Many corporations continue to use Excel as their “go-to” solution for managing these essential performance indicators. Although this solution may seem sufficient, in reality, it can result in several inefficiencies that inevitably will warrant the need for a more accurate and effective way to do business.
Some key problems with using Excel include:
- Data Integrity: Many corporations have multiple versions of their spreadsheets, which can sometimes lead to data inconsistencies and redundancies that compromise the integrity of the information provided within the report
- Information Overload: As businesses continue to grow, so does the amount of information going into a spreadsheet. These Excel reports become increasingly complex, and end users are overloaded with details that might not be pertinent to their specific role
- Investment in Time: Businesses need to be responsive to their ever changing environment. But large Excel spreadsheets that contain vital financial data to make sound business decisions may require significant time to update and publish. This process is neither beneficial, nor reliable
As budgeting, forecasting and financial reporting are three major pillars in corporate performance management (CPM), it is important for any business to have up to date, accurate financial information. By investing in a CPM software solution, you can eliminate the issues linked to using Excel spreadsheets.
How can Delbridge Solutions help?
Delbridge Solutions is a global company founded by industry leaders with a focus on implementation services in the area of CPM. We specialize in Budgeting, Forecasting and Financial reporting solutions that meet the needs of our clients.
At Delbridge, we understand that every company is unique, and that there is no “one shoe fits all” solution. This is why Delbridge has partnered with the leading CPM vendors in the industry. We work with our clients to understand their business process, their business needs, discuss what our software partners provide, and find the right software vendor for them. Our unbiased recommendation based on client needs is why we are truly ‘platform agnostic’. We also guide our clients throughout the entire implementation process from initial requirements gathering, to end user support. We employ a thorough training strategy for our clients so that they are self- sufficient in working with their new solution.