Whenever it gets down to serving various customer requirements, spreadsheets undertake flexible functions. They not only collect important information but also act as a major application for a broad spectrum of utility maximization. All types of information can be gathered and calculated, and a clear and concise report created. There is no denying that the best spreadsheets software plays a critical role in running different company operations effectively. There are also various types of spreadsheets that encourage a large amount of information to be managed by managers.
Users face difficulties if they are still using outdated techniques or manual methods to design spreadsheets. There are several issues and uncertainties associated with developing a manual spreadsheet, which can be discussed below.
- Susceptible to identify Fraud – One of the main disadvantages of a manual database is its susceptibility to fraudulent activities. For example, as there is a shortage of access control, it is hard to ascertain who has previously viewed the excel spreadsheet. In addition, it isn’t easy to retain the validity of outcomes after a certain time frame.
- Restricted Cooperation – The basic elements of a database involve monitoring, financial planning, and preparation. All these activities require the creation of a creative environment, which in conventional spreadsheets is usually limited.
- Fixing or Checking Gets Complicated – Although spreadsheets are not really designed for functionality, since users cannot do manual troubleshooting. The primary concern is the storage of spreadsheets in numerous folders, desktops, and workplaces positioned around the globe at various physical regions. The more difficult task is tracking and understanding the various formulas in the cells.
- Prone to Human Errors – One of the critical issues in spreadsheets involves human errors. Since the data is entered manually, the wrong data, number, or label may be entered. Such amistake can prove costly forany organization resulting in a huge revenue loss.
- Legislative Enforcement is Difficult– Regulatory compliance will become a difficult challenge since paper spreadsheets are much more vulnerable to fraud and mistakes. Spreadsheet utilization can be affected by various regulations, such as Sarbanes-Oxley or SOX, Basel II, FAS 157, EU Data Protection, etc.
- Computer Security a Huge Worry – Data security has lately become a prime concern because of recent cyber-attacks. Manual spreadsheets are more vulnerable to these attacks because of the absence of access control. In comparison, there is no such limitation on files and directories being exchanged. Therefore, confidential information can easily be accessed by anyone, leading to a huge loss of revenue.
- Difficult to Manage the Upgrades– Technology is continually evolving, causing a revolution in the market environment. However, due to the existence of massive information in millions of cells, upgrading a manual spreadsheet is a complex, painstaking, and time-consuming task. Also, the issue with a conventional spreadsheet is that itis not innovation-friendly, making it difficult to incorporate or manage the latest trends.
- Poor Scaling – With arise in the distribution of data, handling information has become a more complicated process. Therefore, manual spreadsheets for big enterprises are not a realistic solution.
- Unsuitable for Efficient Corporate Practices – For organizations adopting a flexible business strategy, the manual spreadsheet is considered unfit. Due to the implementation of a more flexible approach, these companies keep changing their strategies and tactics.
- Does Not Allow Fast Decision-making – The fast decision-making mechanism is often not allowed by manual spreadsheets. The owners and administrators can locate the information submitted carelessly, makingit hard to find thedetails from the sheet. This can contribute to needless wastage of time, further prolonging the phase of decision-making.
With better simplicity, users can overcome all these difficult obstacles and problems. Based on the business practices, users have to pick the right spreadsheet software and begin deploying and unleashing the advantages of the spreadsheet software.