Sean Pales, Director of ProSymmetry, uses real-word examples and use cases to highlight common pitfalls of using Excel.
📊 *Reason 1: Non-Diversification and Transferability Risk*
Excel can seem like an easy solution at first. Unfortunately, spreadsheets can quickly grow into unwieldy, unorganized chaos. What’s easy to set up often turns into a complicated mess that makes maintaining or transferring your data a nightmare.
💼 *Reason 2: Lack of Transferability*
What do you do when the one person in charge of your Excel spreadsheets leaves the company? Excel creates serious ownership issues that can jeopardize your data and make it difficult to access the information you need when you need it.
🔒 *Reason 3: Legal and Regulatory Risks*
Using Excel to store sensitive data can expose your business to legal and reputation risks. With data privacy laws becoming stricter every year, compliance and proper data governance are more important than ever.
📉 *Reason 4: Data Quality Design Equals Credibility Risk*
Excel’s basic design makes it easy to get started, but it often falls short of the functionality you need for robust resource management. And when you don’t meet today’s standards of data quality, you can put your business’s credibility in the crosshairs.
🔍 *Reason 5: Midterm Failure*
Excel’s design does not support long-term, efficient resource management. Uncover the design flaws that inevitably lead to issues down the line and make Excel a poor choice for resource management.
Excel may feel like it’s in your comfort zone, but once you understand the risks and drawbacks of using this tool for resource management, you’ll see why it’s time to leave Excel behind.
