“If you always do what you’ve always done, you’ll always get what you’ve always got.” - Henry Ford
Excel spreadsheets lack traceability and exposes Your company to considerable risk.
In 1985 Microsoft introduced Excel, marking the start of a journey which, today, claims over 750 million users. Excel is so widely used and accepted Microsoft’s CEO, Satya Nadella, stated that it stands out as the “best product Microsoft has ever made”.
Organizations continue to invest in systems for indirect procurement; however, materials management and direct procurement have continued to rely on Microsoft Excel as their “go to” tool.
The fact is that Excel offers incredible mathematical functionality and is well-suited for capturing information such as material cost specifications (e.g., material costs, product weight, scrap, sold scrap, packaging, freight, etc.), manufacturing costs (process steps, machine hour rate, shifts, manufacturing time, max pieces, tooling costs, construction time, etc.), and more.
Unfortunately, emailing, or even updating, Excel spreadsheets lack traceability and exposes your company to considerable risk.
Spreadsheets, even after careful development, contain errors in 1% or more of all formula cells. In large spreadsheets with thousands of formulas, there will be dozens of undetected errors.
About 50% of spreadsheet models used operationally in large businesses have material defects.
[Pawell, Baker, Lawson, 2007]
Each spreadsheet errors costs $165,000 on average.
[PricewaterhouseCoopers and KPMG]
The fact is that loose spreadsheets are quickly outdated and unreliable
Why change, and why now? Because the stakes are higher than ever, competition demands lower costs while increasing quality, and... it only takes one error to be costly.
If you are exposed to risk, and you do not address it, you will continue to be exposed to risk.
The best option: import your spreadsheets into our platform (formatting, calculations, and more). ASTRAS will enable you to: govern changes; track revisions; automate data transfer; integrate your processes; and, reduce your manual efforts.
NO MORE EMAILING SPREADSHEETS