Are you Stuck in Excel Hell?

The top 5 reasons to people hate budgeting!Excel Hell

  1. Complexity, or ‘Excel Hell’
  2. The sheer effort, extreme detail and resources involved
  3. It’s redundant by the time it’s completed
  4. All the horse-trading and effort to get buy-in
  5. Budgeting is not necessarily planning – and may have no link to strategy

Make it simpler – Use a tool fit for the purpose

Excel is a fantastic “personal productivity tool”. However, in a corporate Performance Management environment, it becomes next to impossible to manage a highly complex set of spreadsheets and ensure that:

  • They are free from error
  • Calculation methods are consistent across the whole plan and adhere to your corporate formulae
  • Links between them don’t break
  • You can refresh them with last month’s actuals
  • You can add a new product or change the way a formula is calculated across the board
  • Senior management can see immediately the impact of any change made in the plan, regardless of location, macros, consolidations or allocation processes

In short, you end up in excel hell.

There is a range of tools that will present your plan over your intranet and make this process easy.

Tools that can manage dimensions, making it easy to make universal changes that are immediately deployed, while controlling the calculations centrally.

These solutions control formula changes, link directly to your ERP systems, are always live and enable you to refresh actuals, roll forecasts and create.

Read more about Cognos TM1 or Cognos Disclosure Management here or contact us to discuss any requirements you have.

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John Vaughan

John Vaughan is a highly experienced Accountant and Consultant. He has experience in the pharmaceutical, FMCG, distribution, professional services, manufacturing and financial service industries. With over 25 years of commercial experience and 20 years working with the Cognos products, he...

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