Rethinking Spreadsheets and Performance Management
While a host of different budgeting, forecasting and reporting technologies have faded in and out of popularity over the years, the simple spreadsheet has continued to be a mainstay of finance teams at credit unions for decades.
According to CFO Magazine, “Microsoft gauges the number of Excel users worldwide at more than 400 million, and Forrester Research estimates 50 to 80% of enterprises still use stand-alone spreadsheets for critical applications like financial reporting.”
Excel as Foundation, Not Afterthought
The spreadsheet is a great baseline tool because it is both powerful and more importantly, familiar. As a result, nearly all performance management technology providers offer an Excel add-on.