{"id":10306,"date":"2017-08-15T15:22:00","date_gmt":"2017-08-15T19:22:00","guid":{"rendered":"https:\/\/www.sage.com\/en-us\/blog\/?p=10306"},"modified":"2026-02-12T05:40:06","modified_gmt":"2026-02-12T10:40:06","slug":"why-you-should-replace-excel-with-an-enterprise-reporting-tool","status":"publish","type":"post","link":"https:\/\/www.sage.com\/en-us\/blog\/why-you-should-replace-excel-with-an-enterprise-reporting-tool\/","title":{"rendered":"Why you should replace excel with an enterprise reporting tool"},"content":{"rendered":"<header class=\"entry-header has-dark-background-color entry-header--has-illustration entry-header--has-illustration--generic\">\n\t<div class=\"container\">\n\t\t<div class=\"entry-header__row row align-center\">\n\t\t\t<div class=\"col col-lg-7 col-xlg-6 entry-header__content\">\n\t\t\t\t\t\t\t<div class=\"component component-single-header\">\n\t\t\t\t\t\t\t\t\t\t<div class=\"entry-header__misc text--subtitle text--uppercase text--small\">\n\t\t\t\t\t\t\t<a href=\"https:\/\/www.sage.com\/en-us\/blog\/category\/money-matters\/\" class=\"entry-header__link\">Money Matters<\/a>\t\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t<div class=\"entry-title-wrapper\">\n\t\t\t\t\t<h1 class=\"entry-title\">\n\t\t\t\t\t\tWhy you should replace excel with an enterprise reporting tool\t\t\t\t\t<\/h1>\n\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t\t<p class=\"entry-header__description\">\n\t\t\t\t\t\t\t\t\t\t\t<\/p>\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t<\/div>\n\n\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t<\/div>\n\t<div class=\"single-post-details container\">\n\t\t<div class=\"col\">\n\t\t\t<span class=\"posted-on \"><time class=\"entry-date published\" datetime=\"2017-08-15T15:22:00-04:00\">August 15, 2017<\/time><\/span><span class=\"reading-time\"> min read<\/span>\n\t\t<button\n\t\t\ttype=\"button\"\n\t\t\tclass=\"social-share-button button button--icon button--secondary js-social-share-button\"\n\t\t\tdata-share-title=\"Why you should replace excel with an enterprise reporting tool\"\n\t\t\tdata-share-url=\"https:\/\/www.sage.com\/en-us\/blog\/why-you-should-replace-excel-with-an-enterprise-reporting-tool\/\"\n\t\t\tdata-share-text=\"Please read this interesting article\"\n\t\t>\n\t\t\t<span class=\"social-share-button__share-label\">Share<\/span>\n\t\t\t<span class=\"social-share-button__copy-label\" hidden>Copy Link<\/span>\n\t\t\t<span class=\"social-share-button__copy-tooltip\" aria-hidden=\"true\" hidden>Copied<\/span>\n\t\t<\/button>\n\n\t\t\t\t<\/div>\n\t<\/div>\n<\/header>\n\n\n\n<div class=\"wp-block-post-author has-dark-background-color alignfull\">\n\t<div class=\"container\">\n\t\t<div class=\"col\">\n\t\t\t\t\t\t\t<div class=\"co-authors\">\n\t\t\t\t\t\n\t\t<div class=\"entry-author-wrapper\">\n\t\t\t<a class=\"entry-author\" href=\"https:\/\/www.sage.com\/en-us\/blog\/author\/david-thikoll\/\">\n\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"40\" height=\"40\" src=\"https:\/\/www.sage.com\/en-us\/blog\/wp-content\/uploads\/sites\/2\/2022\/10\/1516287128459-350x350.jpg\" class=\"entry-author__image\" alt=\"\" srcset=\"https:\/\/www.sage.com\/en-us\/blog\/wp-content\/uploads\/sites\/2\/2022\/10\/1516287128459-350x350.jpg 350w, https:\/\/www.sage.com\/en-us\/blog\/wp-content\/uploads\/sites\/2\/2022\/10\/1516287128459.jpg 400w\" sizes=\"auto, (max-width: 40px) 100vw, 40px\" \/>\t\t\t\t<span class=\"entry-author__name\">David Thikoll<\/span>\n\t\t\t<\/a>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t<\/div>\n<\/div>\n\n\n\n<p>There are hundreds of financial reporting tools available to business, but the number one tool remains Microsoft Excel, with over one billion users worldwide. There\u2019s a good reason Excel has secured such a strong foothold in business \u2013 it\u2019s easy to learn and to use and it\u2019s on every device we own. But just because it\u2019s the most common reporting tool does not mean it\u2019s the best. Now don\u2019t worry, we\u2019re not about to suggest you abandon your spreadsheets \u2013 data analysis Excel will continue to have a place in your toolbox, but allow us to share some of the reasons why you need an enterprise-level reporting tool for your business.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-s-wrong-with-excel\"><strong>What\u2019s wrong with Excel?<\/strong><\/h2>\n\n\n\n<p>Nothing is wrong with Excel. It\u2019s a great personal data analysis reporting tool \u2013 fast, familiar and easy. From quick comparisons, to tracking your kid\u2019s batting average, to creating and sorting lists of data, Excel has tremendous power and benefits. But it is not an enterprise reporting tool. Here\u2019s why:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Mistakes are inevitable<\/strong><br><br>Studies by PricewaterhouseCoopers and KPMG find nearly 90% of spreadsheets have errors. And those errors can be\u00a0<a href=\"http:\/\/www.cnbc.com\/id\/100923538\" target=\"_blank\" rel=\"noopener\">extremely costly<\/a>.<\/li>\n\n\n\n<li><strong>Data gone stale<\/strong><br><br>Without real-time input and refresh, reports are outdated the moment they are produced.<\/li>\n\n\n\n<li><strong>Simple tool proves complex<\/strong><br><br>Basic report production is simple, but producing multi-sheet, linked reports takes experience, talent and training, and lots of care and feeding.<\/li>\n\n\n\n<li><strong>Excel doesn\u2019t like to share<\/strong><br><br>Sharing Excel reports is largely a manual process, stifling collaboration and timely data access. However,\u00a0Office 365\u00a0can help foster teamwork.<\/li>\n\n\n\n<li><strong>Version confusion<\/strong><br><br>Is the team looking at the current version of your budget \u2013 or last month\u2019s?<\/li>\n\n\n\n<li><strong>What you don\u2019t know CAN hurt you<\/strong><br><br>Hidden cells can affect the accuracy of a spreadsheet and the impact is magnified with multiple versions of the spreadsheet floating around.<\/li>\n\n\n\n<li><strong>No audit trail<\/strong><br><br>Fraud is difficult to detect and prevent because the data can be easily changed.<\/li>\n\n\n\n<li><strong>Just plain inefficient<\/strong><br><br>Somebody (or somebodies) must spend the time to build and maintain each of the spreadsheets used, which typically involves a great deal of duplicate data entry.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-should-i-be-using\"><strong>What should I be using?<\/strong><\/h2>\n\n\n\n<p>What enterprises need from their financial reporting is in-depth insight, available on demand. You need easy to create, easy to customize, and easy to share reports that deliver a complete view of your organization.<\/p>\n\n\n\n<p>Sage Intacct&nbsp;provides the best financial reporting of any accounting system. It tracks operational and financial data \u2013 by business driver \u2013 that allows you to ask new business questions, get fast answers, and make quick, confident decisions. From granular, transaction-level details to broad consolidations, with Sage Intacct you can get it all without exporting (to Excel!), writing custom scripts or waiting for someone to customize a report. Sage Intacct is an enterprise reporting tool, with functionality to prove it:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Guided user interface<\/strong><br><br>Build a new report from scratch, customize an existing report, or tweak one of the 150 included reports to uncover the data you need.<\/li>\n\n\n\n<li><strong>Dimension driven<\/strong><br><br>We wrote about the power of Sage Intacct dimensions\u00a0here. Dimensions allow you to quickly filter, group and summarize your data by the attributes that matter to your business, such as project, location, department, warehouse or contract.<\/li>\n\n\n\n<li><strong>Comprehensive dashboards<\/strong><br><br>Build user-specific dashboards that include reports, graphs, charts, visualizations, custom lists, calendars, links and more.<\/li>\n\n\n\n<li><strong>Real-time data<\/strong><br><br>Build a report or dashboard once, then let Sage Intacct update it for you in real time.<\/li>\n\n\n\n<li><strong>Drill down capabilities<\/strong><br><br>Drill from summary numbers to detailed figures, journal entries and underlying transactions.<\/li>\n\n\n\n<li><strong>Flexible delivery<\/strong><br><br>Send scheduled or on-the-fly reports to anyone, anytime.<\/li>\n\n\n\n<li><strong>Report exports<\/strong><br><br>If you still need your financial reporting data in Excel, Sage Intacct allows you to output your reports in Excel format \u2013 HTML, PDF and CSV formats, too.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-formula-for-reporting-success\"><strong>Formula for reporting success<\/strong><\/h2>\n\n\n\n<p>The takeaway here is this: data analysis Excel will long have a place and a purpose, but that place and purpose is not as your organization\u2019s primarily financial reporting tool. If you\u2019d like to learn more about&nbsp;Sage Intacct\u2019s reporting power, we\u2019d love to chat!<\/p>\n\n\n<div class=\"single-cta\">\n\t<div class=\"single-cta__positioner\">\n\t\t<div class=\"single-cta__wrapper has-dark-background-color\">\n\t\t\t<div class=\"single-cta__content\">\n\t\t\t\t\t\t\t\t<h2 class=\"single-cta__title h3\">Subscribe to our Sage Advice Newsletter<\/h2>\n\n\t\t\t\t\t\t\t\t\t<div class=\"single-cta__description\">\n\t\t\t\t\t\t<p>Get our latest business advice delivered directly to your inbox.<\/p>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a\n\t\t\t\t\t\thref=\"#gate-ab515c6e-7e90-4c2f-a67e-113872516e8b\"\n\t\t\t\t\t\tclass=\"single-cta__button button button--primary\"\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t>Subscribe<\/a>\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<img decoding=\"async\" width=\"1440\" height=\"810\" src=\"https:\/\/www.sage.com\/en-us\/blog\/wp-content\/uploads\/sites\/2\/2022\/04\/GettyImages-1073797282-1440x810.jpg\" class=\"single-cta__image\" alt=\"Working from home with tea in hand\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-us\/blog\/wp-content\/uploads\/sites\/2\/2022\/04\/GettyImages-1073797282-1440x810.jpg 1440w\" sizes=\"auto, (min-width: 48em) 33vw, 100vw\" \/>\t\t\t<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>There are hundreds of financial reporting tools available to business, but the number one tool remains Microsoft Excel, with over one billion users worldwide. There\u2019s a good reason Excel has secured such a strong foothold in business \u2013 it\u2019s easy to learn and to use and it\u2019s on every device we own. But just because [&hellip;]<\/p>\n","protected":false},"author":1550,"featured_media":9402,"menu_order":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_sage_video":false,"post_featured_image_hide":false,"footnotes":""},"categories":[43],"tags":[420],"business_type":[40,41],"lilypad":[],"context":[418,429],"industry":[57],"persona":[150,98,96,97,95],"imagine_tag":[234,439,443,434],"coauthors":[902],"class_list":["post-10306","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-money-matters","tag-cloud-financial-management","business_type-small-business","business_type-growing-business","industry-financial-services"],"sage_meta":{"region":"en-us","author_name":"David Thikoll","featured_image":"https:\/\/www.sage.com\/en-us\/blog\/wp-content\/uploads\/sites\/2\/2022\/04\/GettyImages-1267191201_updated.jpg","imagine_tags":{"234":"Enterprise Management","439":"Intacct Enterprise Management","443":"Intacct Large Business","434":"Large Business"}},"distributor_meta":false,"distributor_terms":false,"distributor_media":false,"distributor_original_site_name":"Sage Advice US","distributor_original_site_url":"https:\/\/www.sage.com\/en-us\/blog","push-errors":false,"_links":{"self":[{"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/posts\/10306","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/users\/1550"}],"replies":[{"embeddable":true,"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/comments?post=10306"}],"version-history":[{"count":0,"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/posts\/10306\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/media\/9402"}],"wp:attachment":[{"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/media?parent=10306"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/categories?post=10306"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/tags?post=10306"},{"taxonomy":"business_type","embeddable":true,"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/business_type?post=10306"},{"taxonomy":"lilypad","embeddable":true,"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/lilypad?post=10306"},{"taxonomy":"context","embeddable":true,"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/context?post=10306"},{"taxonomy":"industry","embeddable":true,"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/industry?post=10306"},{"taxonomy":"persona","embeddable":true,"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/persona?post=10306"},{"taxonomy":"imagine_tag","embeddable":true,"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/imagine_tag?post=10306"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/www.sage.com\/en-us\/blog\/api\/wp\/v2\/coauthors?post=10306"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}