It’s too easy for people to delete rows and cells and break formulas and links. Some of the biggest restatements and reforecasts have been as a result of Spreadsheet errors. Now throw in lots of people updating Excel, it becomes impossible tell where changes have been made, who made them, and when. That’s not good for governance or investigating the source of mistakes and inaccuracies.
If you want to model something like profitability by product line, then Excel is great. But if you want to model something like the impact of a 5% increase in key conversion rates and understand how it will impact every department as well as the P&L, Cash Flow and Balance Sheet - good luck! The more dimensions your data has, the less you want to battle with Excel. Simply said, Excel is not a source for strategic insight.
Excel is a huge pain to [insert your frustration here]. Do you like the prospect of spending weeks consolidating departmental budgets into a single plan? How does it feel when the business asks for that rolling forecast or "what-if" analysis you know would be helpful?
Excel can't handle real-time data. It's a rear-view mirror into historical numbers at a single point in time. How do you help anyone who needs to know the current position against the plan, budget or forecast?
No problem. We eat data from multiple sources.