Paladone I Love Spreadsheets Mug

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Okay, we’re talking basic stuff here. The more advanced user can use spreadsheets to automatically retrieve data from the internet to perform calculations and serious analytical deep dives into the data held. Sounds kind of interesting, how do I do this? I expect that, in many cases, the answer to that is they either don’t plan, or they spend ages writing stuff out on paper. An inventory of pre-approved templates with documented approval and owners, categorized into levels of risk The Reinhart-Rogoff Facepalm Moment — Harvard’s Carmen Reinhart and Kenneth Rogoff are two of the most respected and influential academic economists active today. Or at least, they were.

An approval process that releases a financial model, or a spreadsheet of any kind, into ‘production’. This approval process should certify that the workbook has passed an audit and is available for general use. ⚠ RISK 5 — SPAGHETTI JUNCTION Start by analyzing your processes and identify what your pain points are. Where do you regularly experience frustrations are there any easily identifiable challenges in your marketing process.Partly I think it’s symptomatic of a ‘we’ve always done it this way’ culture and partly because its more difficult to demonstrate return on investment - if a sales person doesn’t have a phone, they can’t make sales calls, simple as that. Does that make it right? Definitely not. Just mentioning Excel, spreadsheets or workbooks is often enough to send most people to sleep. If they do manage to stay awake, they’ll want to change the topic of conversation. Although, if their only experience with spreadsheets is what we were taught at school, I’d be the same so I totally get it.

I love a good spreadsheet, I genuinely do, I’ve recently gone through a massive house renovation project and this was essential for managing the budget – there was also the huge satisfaction of when things came in under budget, my formula would automatically calculate a positive! (unfortunately this didn’t happen very often) A graphical representation of the interrelationships within a workbook would be really useful. I know I can trace precedents — but it’s a horrible process 🥱If you run into problems, let me just say that you aren’t alone. Here are the ones that I ran into during my own merging experience: I’m not alone either! In 2017, research showed that 71% of organizations are using excel to collect data across business units. The demand for end user computing (EUC) applications has never been higher. Even with the proliferation of platforms across finance, many teams are still reconciling and aggregating data in spreadsheets despite unprecedented investment in IT solutions. The ex-auditor in me shudders when I think of the risks inherent in spreadsheet use across finance. Ability to assign tasks to team members within a collaboration workbook, and have the spreadsheet do the chasing up! Hear me out: Spreadsheets can do powerful calculations, they’re flexible, and they’re widely available! Sure, there are plenty of new platforms and apps around wanting to disrupt my spreadsheet habit (Hello, Airtable! I see you Coda 👋)— but I would need to start learning all over again. Spreadsheets are easy. They allow me to play around with numbers, presentation, formulae, graphs. They give me the freedom to prototype a solution without committing to the final output. There are few tools around in the world of finance that can grow with the business, enable finance to adapt to changing business requirements, and empower us to rapidly model business decisions into financial outcomes.