We all love spreadsheets. They allow us to conduct an analysis for the quick exploration of small datasets. But if you’re a pricing manager or analyst using spreadsheets as the primary tool to manage long-term contracts, generate price quotes or any other commercial decisions, then you’re putting your company at risk.
With multiple spreadsheets used by multiple members of your team, just about anyone has the ability to change critical pieces of information with the slip of a keystroke. Not to mention the loss of best practices due to this lack of standardization. This makes it hard to review, test and trust the spreadsheets you rely on to make important business decisions.
This lack of control enables copy-and-paste habits and ad-hoc updates while limited spreadsheet capabilities hinder valuable functionality and pre-determined user workflows. In addition, it allows users to make rogue decisions, such as pricing managers setting rates in a silo or inventory managers using ‘gut-feel’ to load vessels. This also makes centralizing a ‘source of truth’ an impossible task for demand planners because of the hundreds of decisions points necessary to make the correct decision.
Imagine an inventory manager using incorrect data to calculate over-booking limits. Not only could you be leaving money on the table and impacting customer service, but you may never be able to identify how this happened in the first place. As more data is created, errors like these have a compounding impact on pricing and asset utilization decisions.
When there are multiple analysts using one spreadsheet, are you confident in its integrity? Without a single version of the truth, your team is free to ignore policies around rate floors and forecasts. Even if you wanted to track violators, there is no easy way to do so. Having disparate datasets within spreadsheets throughout your organization causes chaos, confusion and can slow down the generation of profitable growth.
What if you had a capability that supported your business processes and removed these risks? Having a solution that pulls data from multiple data sources (like spreadsheets and legacy data warehouses) into one central dataset for you to leverage artificial intelligence and prescriptive decision making is extremely valuable. Then, analyzing that data through a series of rigorous tests to ensure accuracy and identify any anomalies. This data is then available to tailored systems that allow for hundreds of users to complete their tasks and follow standardized workflows without making unintentional logic changes or errors. It also allows new users to jump into the process quickly and without the risk of accidentally breaking delicate formulas that are the back-bone of your spreadsheets. Your team can now spend more time on making business decisions or improving the process versus checking, re-checking and checking again that a formula hasn’t changed or fixing an error that had been around for years.
Take advantage of our unique approach and battle-tested technology to help your organization leave the spreadsheets behind, consolidate all your critical data to enable data-driven decision making and ESCAPE FROM SPREADSHEETS.