Spreadsheets can be essential to your business, but many companies stretch their spreadsheets beyond their optimal limits. An excellent tool for organizing and analyzing data can become a nightmare to maintain and debug. What often begins as a quick, affordable method for obtaining desired results ends up costing the company extensive time and money to maintain in the long run.
Is Spreadsheet Stretching All Bad? If you’re responsible for maintaining it, you’d probably answer ‘yes’. If you’re only interested in the result, you may answer ‘no’. Either way, you must keep in mind that data integrity is vital. Small spreadsheet errors can lead to large business issues. According to “Eight of the Worst Spreadsheet Blunders”, these oversights can cost millions.
Is My Company Stretching Spreadsheets? While opinions vary on specific guidelines for determining the misuse of spreadsheets, here are a few things you should ask yourself.
1. Is critical data stored in a spreadsheet alone?
2. Does it take more than 2 hours per week to manage an individual spreadsheet?
3. Are major business decisions based on spreadsheet results?
4. Do multiple individuals manage a spreadsheet?
5. Are there numerous calculating functions on one spreadsheet?
Are there other options? Yes. A custom database can house your data to ensure its integrity and security while creating an effective foundation for custom software development. A custom software solution can be developed to perform your specific business functions and create your desired results. By incorporating routines and standards, custom software can eliminate unnecessary errors and increase your company’s efficiency and accuracy of data.
If spreadsheet stretching is an issue for you, contact Chase Computer Services today to discuss a resolution.