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By Duane Craig
April 3, 2017
So, you’re a small contractor and you’ve relied on Excel for a long time. It’s in every aspect of your business. You do your accounting with it, you use it for estimating, and you have it involved in project planning and project management.
It is so well entrenched that the thought of moving on seems too daunting. Just consider though that for every month you wait to adopt tools that overcome spreadsheet dangers, you are becoming less and less qualified to compete.
In fact, if you think your spreadsheets are accurate, you are probably deceiving yourself.
Multiple sources put the error rate in spreadsheets at 80% or more, with one claiming the error rate is actually closer to 90%. And, here’s why...
In 2012, J.P. Morgan Chase & Co lost an estimated $6.2 billion in the infamous “London Whale” case. The investigating task force named the following spreadsheet issues as contributing factors:
So you’ve heard all the reasons why you shouldn’t be using spreadsheets as your main computing solution.
But how do you break free?
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