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EDITOR'S COMMENTS

15th January 2018

Have you joined the “The Modern Finance Forum for the CFO, FD, Controller, finance and accounting function, (FSN)?”  Don’t miss out on the debate.

POPULAR DISCUSSIONS ON FSN’S LINKEDINGROUP THIS WEEK

How far away are we from generating accurate financial statements daily without any manual resource?

What will become of accountants?

How do you successfully grow beyond legacy business?

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CFOs - HOW DO YOU STOP THE SPREADSHEET-SPIRAL™?

15th January 2018

CFOs - HOW DO YOU STOP THE SPREADSHEET-SPIRAL™?

1.Spreadsheets: The Ultimate Disruptor

Spreadsheets are without doubt the accountants’ favourite tool and there is no sign of that love affair abating soon. A recent FSN research study highlights that just 32% of CFOs believe that finance functions will be able to move away from spreadsheet reporting by 2030. Businesses talk obsessively about disruptive technologies, but if ever there was a technology that turned the accounting world on its head, it was the spreadsheet.

It’s universal popularity vests in its flexibility and the ease with which finance professionals can program complex algorithms and even applications for themselves. The spreadsheet is simultaneously liberating and empowering. But ironically, since its introduction in the early eighties, the unfettered growth of spreadsheets is starting to choke off the process innovation and progress that ushered in its success.

 

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