Spreadsheet issues in business are a common challenge for mid-market organisations. In this brief video, Freeman Clarke CEO Graeme Freeman and our experts explore how spreadsheet reliance develops, why it creates inefficiencies and risk, and how businesses can move towards more scalable and robust systems.
CIO/CTO Madhu Bhabuta, from our UK team, brings over 20 years of experience in senior technology roles, from start-ups to FTSE 100 organisations, and has received multiple industry awards including CIO 100.
CIO/CTO Jon Lang has over 25 years of experience in senior technology leadership roles within asset management firms in the New York area.
Addressing spreadsheet issues in business requires recognising both the operational risks and the limitations they create as organisations grow.
Video Key notes
The Core Issue with Spreadsheets: Many mid-market businesses are plagued by a heavy reliance on spreadsheets and the manual effort required to maintain them [[00:08]]
The “Key Person” Risk: A major trigger for crisis is when the “custodian” of a master spreadsheet leaves the company, often taking the knowledge of complex macros and functions with them [[00:23]]
Growth Limitations: Businesses often find themselves “bound in the columns of an Excel sheet”, unable to extract and share data effectively as the organisation scales [[00:43]]
The Fragility of Excel: While Excel is a fantastic tool for initial processes, it becomes extremely fragile and problematic as a long-term system [[01:07]]
Ad Hoc Analysis vs. Robust Systems: Excel is excellent for modelling and ad-hoc data analysis, but it is not a substitute for proper workflow and controlled system processes [[01:33]]
Strategic Re-evaluation: Management must eventually step back and decide if continuing to use Excel as a core operating platform is sustainable for the business [[01:47]]
f you are experiencing spreadsheet issues, our experienced CIOs, CTOs and CISOs can help you move towards more scalable, reliable systems that support growth.