In the quest for modernization, some CFOs face the temptation to abandon spreadsheets in favor of cloud-based ERP systems and other more recent technology innovations. Common reasons for moving away from spreadsheets include limits to scalability and the need for more robust data management and collaboration features.

Yet, using financial planning software (FPS) as an example, recent research indicates that 51% of finance leaders still opt for a detailed bottom-up planning process using spreadsheets and then load those sheets into the FPS. Using spreadsheets for core finance tasks like this is not optimal but there is also more nuance than simply stopping their use altogether. READ MORE