Financial Management: stop to Excel files difficult to maintain

May 7, 2020

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The Excel spreadsheet is one of the most appreciated working tools for its practical functionalities and adapted to the organization of financial departments. Indeed, the facilities in terms of calculation, organization and analysis of data, graphic presentation and programming have long helped financial managers to optimize their tasks and analyze their results. However, over the years, new, more powerful tools have appeared that allow them to get a real head start.

Indeed, excel files have their limits and mainly in the updating of data which often remains manual, not automated because not related to the IS used in the company. Used to reprocess data extracted from other systems, the durability and reliability of the analyses made in Excel can quickly be discussed.

The tasks of reprocessing and updating the data and the associated analyses cause a considerable loss of time and slow down the productivity of your teams. It is not uncommon in some organizations to find employees who spend their lives updating excel files when these analyses could be automated with the right tools. Compared to professional software or other Business Intelligence systems, the volume of data that can be processed and the type of analysis possible is also reduced, which can have an impact on the analysis of financial performance, assumptions and other analyses necessary for optimized financial management.

Replace EXCEL with Financial Performance Management software or CPM software.

With the increased need for predictability and reliability of financial analysis, companies of all sizes are being forced to equip themselves and no longer rely solely on excel. Replacing Excel with a CPM solution makes it easier to analyze information, automate data updates and have more accurate and reliable simulations and assumptions. You can thus easily adapt the financial strategy of the company with regard to the results in real time and the objectives set. .

With an adapted Financial Performance Management software, benefit from an accounting and financial vision updated in real time. From the collection to the automation of projections, through the aggregation of budgets, to the restitution of information, get a fine analysis of your financial performance. You can focus on analyzing your performance rather than collecting and updating data

With an effective Financial Performance Management solution, you ensure the transparency of financial processes and provide a dynamic and collaborative framework to reduce delays and improve the performance of your department. Information is more reliable, team productivity is increased and decision-making processes are improved.

Reeing you from excel in favour of a complete financial management solution or CPM solution is to allow you to digitize your financial documents, to automate, optimize and accelerate the associated processes.

You will benefit from a scalable and flexible management solution that faithfully meets your present and future needs. You will easily save dozens of hours per week thanks to the automation of the most time-consuming tasks. Regardless of the size of your company, the choice to switch from EXCEL to a CPM solution will help you improve the productivity of your teams and better manage your financial activities.

About Talentia Software

Talentia Software is an international leader in solutions for financial and human resources. Talentia’s solutions are complete, integrated and adapted to the specific complexity that mid-size companies must manage. Talentia Software is a French group with a strong presence in Southern Europe, particularly in Italy, Spain, Portugal, and Greece. Following the acquisition of Addedo in 2018, Talentia is now also present in Switzerland, Germany, and North America. More than 3600 companies are already using Talentia solutions to simplify the management of their financial and HR complexities. In 2019, the group achieved a turnover of 65 millions of euros and 450 employees.

More informations : https://www.talentia-software.com