Don’t Settle: Get the Best of Both Worlds

In the finance office, there has been a long battle between Excel, the Microsoft spreadsheet application introduced in the 1980s, and CPM systems that streamline financial processes, improve security, and offer analytic capabilities.

With more than 750 million installations worldwide, Excel is the third-most popular language on the planet and the most widely used software. It is well-loved in the business world for its versatility and relative ease of use.

CPM & Excel

A 2016 joint study conducted by FEI Canada, the Canadian Financial Executives Research Foundation, and SAP found heavy dependence on Excel across Canadian businesses. In fact, according to the study, 92 percent of financial executives in companies with more than 500 employees said their companies still rely on Excel spreadsheets.

But, on the other hand, spreadsheets can be difficult to maintain and lack any kind of built-in version control. They often introduce data inconsistencies and errors, which can be difficult (or impossible) to resolve. Users can spend hours, even days, consolidating and reconciling data from multiple spreadsheets for final reports.

Luckily, companies can now get all of the advantages of modern finance technology without forcing users to abandon Excel.

CPM software solutions today are based on technological platforms that incorporate both the database and calculation engines, with support for multiple user interfaces. Users can choose to use Excel for purposes such as data input or reports, or they can use a built-in web-based interface. The choice is theirs -- depending on their needs, preferences, and skills.

The option to use Excel spreadsheets as an interface leverages an environment familiar to many users, therefore decreasing the user learning curve and increasing adoption rates. Integrating the CPM platform to Excel also eliminates Excel’s shortcomings and provides enterprise-grade functionality to the end users, while they still work with with a familiar front end.

A web-based interface gives users the flexibility to work outside of Excel, while still offering a spreadsheet-like experience with Excel-like functions and cells. Additionally, a web-based interface provides mobile access and removes the need of any technical installation. A finance user can quickly access information from a tablet, smartphone, or even a Tesla dashboard. (Note: We do not recommend driving while reviewing financials!)

At CCH Tagetik, we ensure finance users get the experiences they need and fancy the most, without compromise. End users usually enjoy our modern and intuitive web interface to submit their data from laptops or mobile devices, while administrators typically prefer the Excel interface, which gives them opportunity to leverage their extensive spreadsheet skills.

No matter what type of user you are, with the new technological solutions of today, you do not need to settle. When it comes to the interface experience, the choice is yours!

For a quick overview of CCH Tagetik’s integration with Excel, watch our two-minute demo or an overview of Microsoft Office integration. 

CPM & Excel

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