With the wisdom of someone who has been doing financial planning and analysis (FP&A) for decades, Diginomica co-founder Dennis Howlett pointed out in his November 2014 article that the infamous Tibco $100M error wasn’t the only recent example of the “inconvenient truth” about spreadsheets. With so many documented cases around spreadsheet error, it begs the question, why do some many organizations retain their use in finance?
It isn’t the single spreadsheet’s fault; rather it’s the faulty processes that go along with spreadsheet hell that creates challenges. The flexibility and ubiquitous use of a spreadsheet is tough to replace when it comes to doing ad-hoc analysis and calculations. In fact, despite all of the well-known incidents like the error made for Tibco, many members of an FP&A team would fight frivolously to keep using them in their daily routines. Like the sticky note of the office worker, it is the scratchpad of the modeler. Spreadsheet hell occurs when way too many get used and (as Howlett points out), “…spreadsheets are treated with an astonishing degree of abuse.”
That’s why when we thought about improving the needs of our customers, we worked with Microsoft to develop bi-directional connectivity between Office and Office 365 with Tidemark to unify spreadsheets and EPM in a never-before seen way. That said, we’re proud to share our latest innovation – the Tidemark Excel App for Microsoft Office. For the first time, modelers gain a complete FP&A experience directly within Excel. This seamless unification allows Tidemark to live inside Office and Office 365 so the work a modeler performs in a spreadsheet can — with a single click — sync with automatic write-back into Tidemark where it’s woven into their processes, plans, analyses and visualizations.
Curious on how this can help you? We’ve created a few ways for you to understand and start seeing the power of our new app, including:
- A short video showcasing how it can help you
- A data sheet with all of the specs and details on the Tidemark Excel App for Microsoft Office
- A special upcoming webcast on Wed., April 29 at 10 am PT
- The press release on the app including thoughts from Microsoft and our customer, Acxiom
In addition, you can view a complimentary copy of the new report from Blue Hill Research’s Hyoun Park and Scott Pezza on how Tidemark’s new Excel App will help the modern modeler. Enjoy and drop us a line to let us know what you think.