Is Excel the most dangerous piece of software in the world?
Recently there have been a number of articles published on the possible dangers of Microsoft Excel, with NewStatesman citing that “Microsoft’s calculator is partially to blame for JPMorgan losing $9bn, and a lot more besides”.
Many of us at Enable love Excel and use spreadsheets daily. Spreadsheets are often inexpensive to create, highly flexible, mostly easy to use and very easy to share. But what makes Excel so great is also its Achilles’ heel.
Many business processes start small. For example: recording financial progress, tracking budgets, or managing pricing on complex deal. And each spreadsheet often has a small team sharing, inputting and extracting data from it. In this environment Excel can offer a simple solution.
Difficulties often occur when the scale of the business process increases dramatically and far more people become contributors to the spreadsheets.