Spreadsheets are in daily use in hundreds of millions of businesses around the world. In the US 95% of companies use spreadsheets as financial reporting tools. That makes the humble spreadsheet one of the most powerful tools out there. However, it is also probably one of the biggest threats to your business!
An incredible 90% of spreadsheets contain errors. It is not all doom and gloom though – a bit of forethought and planning could help protect you and your business. Follow this 10-step plan and you will eliminate the majority of possible threats to your business:
- Decide on what it is that you want from your spreadsheet.
- Check your actual need for a spreadsheet.
- Separate data and functionality.
- Minimise duplicating data.
- Keep manual data entry to a minimum.
- Document everything.
- Build in error checking.
- Keep it simple.
- Lock it down.
- Quality check.
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