What’s on the Horizon for Dynamic Spreadsheet Management in 2021?
3 MIN. READ
Paradigms shifted significantly when Lotus 1-2-3 came onto the scene over 35 years ago. We remember how the ground shook under every accountant and bookkeeper’s feet at the magnitude of the change. Get ready for another paradigm shift; A change in risk management and control for accounting and finance executives is beginning to happen – and it’s going to make everyone sit up and take notice again.
Dynamic risk management
Spreadsheets power many critical financial, revenue and risk-related activities. While many businesses recognize that spreadsheets carry risk, most don’t know where to begin to mitigate it. Enter a new paradigm, where businesses can make decisions based on data they can trust.
What we are talking about is a powerful approach to identifying and managing spreadsheet risk. This is not just receiving raw data, but also having the ability to act on the data and significantly accelerate risk-resolution cycles. There’s no more “wait and see” for finance and accounting executives as they anticipate reports and worry that the data is flawed. Instead, they can make decisions based on data they can trust.
In 2021, state-of-the-art software takes accounting and finance data from spreadsheets and turns it into a to-do list for immediate risk reduction and remediation.
Wait… spreadsheet management software that can do what?
Way beyond the manual, expensive and highly complex solutions already on the market, the proven software technology goes full-circle by providing modern insights that other applications cannot provide and by taking steps to remedy problems. This innovative software plays into the dynamic risk management approach by:
- Using proven methodologies and leveraging modern automation. This alleviates dedicated IT involvement and enables easy scalability.
- Providing full transparency into the environment. Businesses can easily implement and maintain the software with 100% configuration, without getting IT (and the consequential time and money) involved.
- Creating added value for the end-user by facilitating work in Excel with greater applicability and company-wide ease of use across many accounting and finance disciplines. The software removes steps and simplifies necessary ones, empowering users to increase adoption (and therefore, better mitigate risk).
What is on the table?
When it comes to spreadsheet management software, we are talking about mitigating spreadsheet risk, not just identifying it. Taking command of spreadsheets turns the application into an optimized solution rather than a simple organizational tool – that’s what makes this a paradigm shift.
This one gets better
Some paradigms shift easier than others. In this case, the shift is 21st-century easy. That is due to enhanced usability where users can continue to work with familiar applications like Excel with an intuitive user interface and with features that allow for rapid deployment company-wide in weeks, not months.
Enjoy a happier, more confident 2021
As a resource that is responsive and client support-oriented, the software drives the paradigm shift of dynamic risk management. It can be rapidly and successfully deployed, decreasing the possibility of operationally (and reputationally) damaging events and pitfalls. Smart executives with full plates are finding that this new risk management paradigm shift not only helps their businesses succeed and avoid dangers, but it also helps them grow and protect their organizations in a world where paradigm shifts are happening pretty regularly.
Learn and grow
Chief financial officers, actuaries, controllers, risk managers and chief risk officers can now quickly identify, control and eliminate risks their organizations may encounter. To learn more about this revolutionary software, contact Incisive Software.