Introduction
Background : Why Excel
What makes EXCEL the world’s most widely used planning & analysis tool? The answer lies in its Speed, Flexibility, Quick User Adoption, Presence, Self-Servicing analysis and Reporting with Visualization.
Excel can be a valuable tool for financial planning, analysis, and consolidation, whether it's for personal finance management, business decision-making, or investment analysis. Excel's flexibility, data manipulation capabilities, and powerful functions make it a popular choice for financial professionals and individuals alike.
Speed: No Waiting times for Tech teams.
Flexibility: Formula, functions, Pivot tables etc.
Quick User Adoption: Easy learning curve
It's Everywhere: abundance of users & help.
Self-Servicing: quick ad-hoc analysis
Why JustPerform 365 Connector
Excel, despite being a powerful and widely used by finance teams, It does come with its fair share of challenges. Some common challenges users may face include:
Data entry errors: Manual data entry is prone to human error, and Excel is no exception. Users may accidentally input incorrect data, leading to calculation errors or inaccurate analysis.
Version control and collaboration issues: When multiple users work on the same Excel file simultaneously, it can lead to version control problems. Coordinating changes, tracking revisions, and ensuring data integrity can be challenging, especially in a collaborative environment.
Lack of data integrity checks: Excel does not have built-in mechanisms for data validation, and it is easy for users to accidentally or intentionally enter incorrect or inconsistent data. This can lead to faulty calculations or misleading analysis.
Limited visualization options: While Excel provides basic charting and graphing capabilities, it may not be sufficient for advanced or complex data visualization needs. Users seeking more sophisticated visual representations may need to export data to other software or tools.
Formula errors: Excel formulas can be complex, and users may encounter challenges when building or debugging formulas. Errors like incorrect syntax, circular references, or formula inconsistencies can be frustrating to identify and resolve.
Security risks: Excel files can be susceptible to security threats if not handled properly. Macros or external links within spreadsheets can contain malicious code, and sensitive data may be exposed if not adequately protected.
Lack of database functionality: Excel is not a dedicated database management system, and while it can handle small to moderate data sets, it may not be the ideal solution for managing large and complex databases.
Limited automation: While Excel does offer some automation features through macros and VBA (Visual Basic for Applications), it may not match the capabilities of dedicated programming languages or data processing tools. Automating complex tasks may require advanced programming knowledge.
Introducing JustPerform 365 Connector .
JustPerform excel Connector bridges all the excel gaps with its added capabilities & Office Integration to Excel, so you get the best of excel Integrated to the best of the finance platform.
JustPerform Excel Add-in
JustPerform Excel Add-in is an application which connects user to JustPerform platform and embedded Data warehouse using Microsoft Excel. Process flows and instances created in JustPerform will be reflected immediately in Excel Add-in for users to perform and execute. In addition, enterprise structure with master data of all dimensions is also available so that users can access to various levels of member details when they create input schedule and generate reports.
Important purpose of JustPerform Excel Add-in is to enable users to created desired templates on their own. User with suitable roles and privilege can initiate any input schedule to provide values for Input driver and generate reports based on business/functional requirement. Later, users who are assigned to input data can login JustPerform Excel Add-in to complete their tasks, such as: enter numbers in input forms, run calculation and check/view the report generated. The final step in this flow is data submission, so that the outcome of this stage can be used for the next one.
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