Top 5 reasons to STOP using Excel for planning and performance management.
Despite the high stakes, many businesses still rely on disparate, outdated tools for planning and performance management—usually Excel spreadsheets (passed from person to person via email), which must be reconciled by the finance department at the end of the planning process.
In reality, however, using Excel to generate and maintain your critical planning data is quite expensive in terms of resources and risk. Email handoffs and manual reconciliation are incredibly time-consuming; Excel sheets are notoriously error-prone; and sharing sensitive planning information via email poses serious security risks.
Choosing a cloud-based Enterprise Performance Management (EPM) system allows an organization to enjoy the benefits of centralized planning and performance management without the up-front investment, risk, and complexity that come with on-premise software.