Five Reasons to Move Off Excel for Consolidation and Close

September 8, 2015

For a small, single-entity company, closing the books using the general ledger (GL) and reporting in Excel isn't so bad, and financial consolidation isn't even necessary. However, just a bit of growth can change that situation fast. Whether it's the first international office, expectations of venture capitalists, or a company acquisition, Excel's flexibility becomes a liability. The interconnected spreadsheets and formulas quickly show their fragility.

Five reasons highlight why Excel is not the right application for Financial Close and Consolidation -- and why growing companies are moving to cloud-based enterprise performance management (EPM) software suites.

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