{"id":183,"date":"2007-01-22T11:30:10","date_gmt":"2007-01-22T19:30:10","guid":{"rendered":"http:\/\/www.formtek.com\/blog\/?p=183"},"modified":"2007-01-22T11:30:10","modified_gmt":"2007-01-22T19:30:10","slug":"compliance-bpm-and-the-evolving-spreadsheet","status":"publish","type":"post","link":"https:\/\/formtek.com\/blog\/compliance-bpm-and-the-evolving-spreadsheet\/","title":{"rendered":"Compliance: BPM and the evolving Spreadsheet"},"content":{"rendered":"

Twenty-five years ago the introduction of the spreadsheet defined the term “killer application<\/a>“.\u00a0 Since then, spreadsheets<\/a> have become the centerpiece of financial reporting, budgeting, planning, and forecasting.\u00a0 78% of companies<\/a> still rely on the spreadsheet as their main tool for financial reporting.\u00a0 Many companies are basically run on Excel.<\/p>\n

But Compliance, particularly Sarbanes-Oxley, is causing companies to rethink spreadsheets.\u00a0\u00a0\u00a0Problems with traditional spreadsheets include:<\/p>\n

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  1. Spreadsheets can’t capture real-time data<\/li>\n
  2. They don’t scale well and lack good tools for collaboration between many users.<\/li>\n
  3. Consolidation or “rolling up”\u00a0of multiple spreadsheets is often difficult and time-consuming<\/li>\n
  4. Lack of auditing and revision control.\u00a0<\/li>\n