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Online financial control: 5 reasons to abandon spreadsheets now!

Online financial control: 5 reasons to abandon spreadsheets now!

A good online financial control is essential to provide complete information about your company, reduce unnecessary costs and know the actual situation of the business. In this regard, technology is a strategic ally.

Innovations in the means of management are increasingly optimized and some processes are being left behind. The best example of this is spreadsheets. People responsible for different sectors have already realized that this tool has been inefficient for financial management, just as piles of paper became a problem a few years ago.

With that in mind, we’ve put together 5 reasons for you to definitively abandon spreadsheets and bet on automating your online financial control. Check it out!

1. Lack of security

Spreadsheets do not give you a lot of security when storing your information. Imagine you spent an entire afternoon filling in financial data and making balance sheets when suddenly:

  • your computer’s hard drive burns;
  • your file is corrupted for some unknown reason;
  • your computer is hit by a virus;
  • someone accidentally deletes your spreadsheet;
  • there is a sudden power failure and your program has not automatically saved or recovered your work.

What a nuisance, is not it? Therefore, spreadsheets are not as reliable as they seem to be. At all times, unforeseen events may occur and your work will be lost.

2. Greater possibility of errors

Unlike online financial control, spreadsheets may present constant errors. This is due to unexpected program crashes and mistakes while managing, updating, storing, or moving your information. As a result, there is a risk of jeopardizing your management.

3. Need to master the tool

To use this type of tool, the professional must have the knowledge of dealing with its features in order to enter important and complex information into it.

Some job openings, for example, require advanced knowledge in this type of program. From that you can already see that it is not an easy, simple, and even efficient tool.

Also, when you choose to use spreadsheets in your financial management, you end up getting stuck in your computer or office.

4. Limited features

Spreadsheets are widely used by students and for managing household finances. However, when it comes to business financial management, things get more complex.

Such software is a very cheap program and its activation keys can be easily hacked for free use.

A company, from whatever industry, has a very large information complexity. Thus, offline control using programs such as spreadsheets become incomplete and extremely inefficient, as they rely only on simple formulas and small graphs.

5. Waste of time

Your financial management needs to be optimized. The corporate landscape is very competitive and presents new data at all times, therefore, there is no time to lose with failed systems.

In addition, the financial filling in offline systems is practically manual, which takes a lot of time and causes stress.

Because of all this, management software has been a strategic investment for the efficiency of online financial control. With it, you will spend less time and will have lower incidences of human error and system failures.

Also, software has many features that allow managers to have a broader view of the company’s situation. This way, it is possible to define better goals, make decisions on cost reduction and have more security in storing your data.

Online financial control is the best way to manage your company’s information. That is because it decreases the time spent on tiresome work and provides more security for your data.

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