What Is The Future Role of Excel In Corporate Finance?
Why do most Software Vendors keep proclaiming Excel is Dead! Over the last 20 years I have become immune to the catch phrase in vendor land – “Excel is Dead”.
Every time I engage with any of our clients, prospective clients or anyone interested in understanding how we can help them with their reporting challenges, Excel is the cornerstone of the process. Is it right that Excel is the cornerstone of reporting? Very interesting question which this article is not trying to answer. Maybe a topic for a future blog! My view is that Excel should be seen as part of an integrated solution in the reporting process of a business. It should be seen as a critical component in providing the key outcomes management are striving to gain both from what has happened but critically what “potentially” is around the corner. The key point I think, is that it needs to be an integrated solution – that is Excel needs to work in unison with other reporting tools; transactional sources and data strategies. Therein lies the challenge for a vast number of vendors. They want to embrace the web; mobile & cloud and get caught up with the “sex”of technology – losing sight of what the client's need are around data, usability & internal IP. I do believe that Excel will be with us for another 20 years, and it will have a key role to play in the reporting strategies of businesses. The clever folk will adapt it, to become that integrated solution. PS: I am not on the Microsoft payroll, nor looking to develop our practice in Excel. I am an end user and a client advocate looking to achieve desired reporting outcomes.