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Reduce Finance Risk by Reducing (or Eliminating) Use of Spreadsheets

“The trouble with spreadsheets is that they put a lot of responsibility in the hands of the user.”

Spreadsheets are everywhere, and it makes sense why- they are familiar and inexpensive. However, a problem arises when businesses start relying on spreadsheets for important decision making because they leave a lot of room for human error. Better alternatives are available- new analytics technologies enable businesses to have greater control over calculations and the movement of information, and many provide audit trails to document exactly what did, and did not, go into any given analysis. Most render it impossible for users to mess up the formulas.

Read More at Forbes Magazine >