Working
and reporting within a spreadsheet development environment can increase the risk
to organisations due to the inherent pitfalls attributable to spreadsheets, which
may also include the chances of deliberate manipulation by preparers. Areas that
increase risk, inaccuracy and time wasting, include those listed below.
- Data redundancy is prevalent due to one data cell being kept in more than one unlinked
spreadsheet.
- Numbers included in formulae that are not easily traceable.
- Redefinition of the same calculation in different spreadsheets.
- Reconciling of spreadsheet links from spreadsheet to spreadsheet.
- Importing of files from other data sources into spreadsheets and their linking to
the imported data structures.
- Formatting numerous worksheets.
- Spreadsheet proliferation and maintenance.
- Maintenance of macros.
- Insertion of new column and row members and the adjustment of their formulae.
- Accuracy of data in spreadsheets is far lower due to the high risk.
- Unstructured approach to spreadsheet development and maintenance.
- Executive Information Solutions (EIS) and management packs are time consuming to
create and often have limitations on the size
of the solution as the spreadsheet
environment just cannot handle the volume of data and linking.
- Saving workbooks in the correct order to get the correct number for the relevant
process you are going through.
- Copying and saving the previous process/month workbooks to use for the current process/month.
Most spreadsheet pitfalls and time wasters are overcome by using o2olap. o2olap provides organisations with a more structured and accurate development methodology
that reduces risk and speeds up reporting times and accuracy. Some organisations
have improved reporting times by over 50%, as well as providing more information
which reconciles irrespective of the perspective of the data you are viewing.
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