There is no argument that Excel is a helpful tool for CFOs across the globe.
That said, it is also well known that Excel falls short in many areas, often resulting in errors, negative financial impact, and wasted time.
What’s more, many organizations faced increases in siloed data, manual processes, slow operations, lack of workflows and integration, and limited communication and collaboration when they moved to remote work during the COVID-19 pandemic.
Companies are beginning to realize that their current, Excel-based systems are deficient in one way or another and unable to meet the new business challenges.
Modern CFOs are attempting to move their FP&A away from Excel to new software solutions.
