There’s no denying the popularity of QuickBooks and Excel, particularly across small and mid-sized companies looking for simple accounting and reporting solutions. Unfortunately, these tools don’t support real-time data sharing or updating and don’t offer a complete picture of your organization’s data – leaving potential opportunities on the table.
For these reasons, many businesses are moving away from spreadsheets and introducing dedicated reporting software designed to meet their more advanced needs. No more Excel fatigue. If you can relate to any of the issues below, it may be time to upgrade your reporting tools, too.
Difficulty Managing Large Spreadsheets
When reports contain more data than Excel can handle, spreadsheets become slow to load and difficult to update. Businesses that are actively collecting data for their marketing and sales departments can quickly accumulate data that exceeds Excel's capacity. When this happens, managers tend to break data into smaller segments or multiple worksheets for easier viewing and consumption. However, separate data sheets make it difficult to achieve a complete view of your organization, share insights, and make good business decisions.
Cumbersome Manual Updating
If an analysis is spread over several sheets in an Excel workbook, each sheet will likely require changes based on additional fields of information. Spending time cleaning up data so it synchronizes correctly is both a waste of time and a huge opportunity for errors.
Disputes Over Report Accuracy and/or Ownership
Excel users typically store their reporting files locally for easy retrieval later. However, if multiple users are working on the same report, each locally saved file is a different version of the original, meaning that data doesn't match and formulas don't work, which can lead to arguments over whose data is most accurate.
Difficulties in Calculating KPIs
Calculating KPIs requires formulas that reference several dimensions and use complex and nested filters. In other words, to create meaningful KPI dashboards, businesses need to move beyond the limited capabilities of Excel. The longer it takes to build and maintain a report, the less often you'll be able to reap the benefits to develop better strategies and respond to issues in real time.
It doesn’t take much data to outgrow the capabilities of QuickBooks and Excel spreadsheets. If you identified with one or more of the pain points above, it's time to ditch Quickbooks and your spreadsheets for a more robust business intelligence solution.
SAPDistribution’s Start & Grow for Distributors is designed specifically for distribution businesses facing the challenge of providing controls and processes without requiring specialized knowledge. For more information about how SAPDistribution’s Start & Grow for Distributors software can help your business ditch the spreadsheets, manage data more effectively, and achieve its growth goals, contact us today!