The Advent of Cloud-based Spreadsheets
Businesses today are fond of spreadsheets. Nearly 750 million users across the world leverage Microsoft Excel as their conventional tool for presenting and analyzing data and performing calculations.
Even today, spreadsheets remain as a robust and flexible tool that can provide quick solutions—one of the reasons why they are so popular. No matter how large the company is, the majority of the organizations export the data to Excel to make informed decisions. While Excel continues to be the leading platform for analyzing data, finding information, preparing charts and presenting them to decision makers, it also presents users with a few frustrating challenges. The common challenge that affects spreadsheet users is in a scenario where there are collaborative teams where each team needs to access and share the same data as they work towards a complex set of business reports.
This can be highly frustrating which leads to massive inefficiency, as any changes made on the spreadsheet cannot be viewed by the other teams and the members. This results in endless hours of copying and pasting to arrive at a ‘single version of the truth’.
In this scenario, the risk of errors increases and as we all know, a slip of a key can result in a high profile disaster. To address these challenges, organizations today are re-engineering spreadsheets with the help of cloud technologies, to deliver a tool that is built for the demands of modern-day business. For organizations that currently rely on unconnected spreadsheets to formulate management reports, the cloud has the potential to bring forth efficiency into organizations that need to work collaboratively.
By adopting a unique approach to the traditional problem, users can now enjoy the simplicity and comfort of using a spreadsheet as the ‘front end’ with a robust connection to the cloud at the back end, which does the major task.
It also allows users to integrate spreadsheets and other disparate data sources into a single solution with none of the large-scale data migration issues once experienced and with minimal disruption. This allows everyone to work right inside Excel and enjoy direct benefits while leveraging Excel's legendary flexibility.