Many firms deal with countless currencies in today’s global economy, but improperly categorizing them in spreadsheets (mistaking Canadian or Singapore dollars for American ones, for example) is a human error that can easily happen. Unfortunately, it can also be very costly and pose real implications for a company’s employees and customers, as well as its shareholders. Enterprises must be able to mitigate this spreadsheet risk in order to protect their revenue and reputation.
Read the Business Brief to learn:
- How to avoid currency exchange errors based on inaccurate data
- Why large currency exchange errors have required many companies to restate their financial figures
- The importance of implementing tight controls on your spreadsheets to lower the potential risk of errors