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Risk and Reward: Are you still using Spreadsheets for Budgeting and Forecasting?

Most Companies Use Microsoft Excel for Budget and Forecasting, But at What Risk?

Most businesses worldwide use spreadsheets like Microsoft Excel™ for budgeting and forecasting. And while it does provide a valuable service to fnance executives for one-off spreadsheet creation, Excel lacks the functionality to systematize accounting processes. While Microsoft Excel is a valuable tool for businesses to employ, businesses of all sizes—large and small—need an easy-to-use, robust fnancial software system that automates budget, forecasting and planning processes. The creation of balance sheets, forecasts and proft and loss statements that fow from an organization’s general ledger must be immediate and 100% accurate. This is fundamental to the long term health of any organization. The main benefts of incorporating budget and forecasting software into your fnancial team’s toolbox, is that it provides more accurate, inclusive and timely budgets, while signifcantly reducing budget creation time and resources.

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Most businesses worldwide use spreadsheets like Microsoft Excel™ for budgeting and forecasting. And while it does provide a valuable service to fnance executives for one-off spreadsheet creation, Excel lacks the functionality to systematize accounting processes. While Microsoft Excel is a valuable tool for businesses to employ, businesses of all sizes—large and small—need an easy-to-use, robust fnancial software system that automates budget, forecasting and planning processes. The creation of balance sheets, forecasts and proft and loss statements that fow from an organization’s general ledger must be immediate and 100% accurate. This is fundamental to the long term health of any organization. The main benefts of incorporating budget and forecasting software into your fnancial team’s toolbox, is that it provides more accurate, inclusive and timely budgets, while signifcantly reducing budget creation time and resources.

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