Time to Replace an Excel System?

Excel is powerful and widely used software, especially in financial situations. 

 

But it also has significant limitations that can lead to errors or other costs.

 

Are you using Excel for a financial system where there is one or more of:

 

  • Multiple participants in forecasting, or
  • Multiple users in recording or processing
  • Multiple entities (such as departments and companies)
  • Multiple dimensions (such as geography, product/service groups and time periods)
  • Multiple currencies
  • Multiple linked spreadsheets ?

Or do you need clearer audit trails?

Then it’s time to look for a replacement system which will:

  • Reduce risk of error, by using embedded functions instead of needing to maintain a multitude of Excel formulae
  • Allow multi-user access without having to control multiple file versions
  • Give clearer analysis from differing angles
  • Streamline processing and tighten control through the use of workflow
  • Provide necessary audit trails

Systems are available to run in-house or in the cloud for all three financial functions where Excel is commonly over-stretched:

  • Forecasting and budgeting
  • Management reporting and consolidation
  • Financial accounting and order processing

The solution may be packaged software or a bespoke development.  Camwells can help find the best approach through:

  • Defining requirements, both current and future
  • Reviewing the market to select the most cost-effective option
  • Project managing the implementation

Businesses often realise they don’t have that expertise, or staff simply don’t have the time alongside their day jobs. Camwells has helped private and quoted companies such as these replace Excel systems:

  • FTSE 250 housebuilder for their forecasting and reporting systems
  • Quoted software company for their sales order processing
  • Quoted IT company for their forecasting systems
  • International oil company for their purchasing system and costing records
  • £50m subsidiary of a multinational for their sales and purchase order processing systems

In the latter case, we compiled a report linking data within the system to claim supplier rebates of some £600k per annum, literally doubling profits.

 

The MD said “Couldn’t have done it without you” and the FD of another company said “Timely, thorough. Helped enormously.

How Can We Help You?

For an initial on-site review of your  issues, free of charge and without obligation, please ring 07836 774439 or send us an email

 

Camwells celebrates two decades at the forefront of business

To benefit from our expertise and experience, please ring

07836 774439

or send us an email.

Why not try the Camwells 360° Business Review?  Free initial discussion:

'Camwell Consulting'

was founded in 1993.