July 2015

More than 70% of global executives use spreadsheets to track and manage financial reporting data on a daily basis, according to a survey by Accenture and their partners.

The survey also revealed that while finance executives often use a dedicated application to consolidate data, they still rely on spreadsheets to extract specific information or collect data across disparate systems.

The enduring popularity of spreadsheets is a testament to the fact that many executives prefer to remain in the familiar environment rather than invest vast amounts time and money into procuring and being trained on a new system.

However, using spreadsheets in combination with disparate applications represents an inefficient approach to financial reporting that does not give executives access to accurate, up-to-date data or the ability to make meaningful decisions.

Continue reading Excel The #1 Reporting Tool For Executives Despite Newer Alternatives

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