Amidst the Kanye tweetstorm which set the internet on fire recently, there were a few tweets that got lost in the noise. One which demanded attention mentioned archaic spreadsheets and the need to move away from these, in inimitable Kanye style. Ben Parkin explores how spreadsheets just don’t make the cut for the complex recurring billing needs of today’s businesses.
The humble Excel spreadsheet is one of the most commonly used business tools in the world. Easy to learn and implement, spreadsheets are the default for startups who use them for invoicing, accounting and many other general data management and reporting needs. However, as any business grows and scales, the same spreadsheets can rapidly become a pain point for business owners as they simply aren’t built to handle the volume, variety or velocity of business data that is generated these days.
where he said, “burn that excel spread sheet”, was another timely reminder to the world that simple spreadsheets have long since passed their expiry date. While the context in which Kanye spoke about spreadsheets was unclear, it is safe to assume that the reference was to the growing mismatch between Excel spreadsheets and today’s business needs.
There are many good reasons to ‘burn’ those spreadsheets right now:
– Believe it or not, as much as 90% of Excel spreadsheets
across the globe have errors. Hardly a solid foundation for running a business.
Not scalable –
Many businesses pile on new worksheets for every new data set that cannot be managed by their existing IT systems. That opens the door for duplicate data entries and other inefficiencies which will be amplified as the business grows.
Manual work –
Handling financial data manually on a spreadsheet feels archaic and old-school, even if you are used to it. The time spent on this manual work can be better utilised on more pressing business needs.
Security risks –
In the wake of new regulations such as GDPR, data protection and security have become more important than ever. However, spreadsheets are readily copied and distributed by email, making it very easy for the wrong people to gain access to sensitive data.
Lack of visibility –
A lot of businesses want intelligent insights from their data, but processing and analysing data across multiple worksheets is extremely tedious and prone to error. Spreadsheets may be suitable for providing a snapshot in time of your business data, but they are not good when it comes to tracking important KPIs in real-time.
Moving Beyond Spreadsheets
Spreadsheets are becoming obsolete as more businesses have increasingly complex ordering, billing and revenue recognition
requirements. For instance, subscription-based businesses have high recurring revenue streams which require automated billing and payment processing to ensure the business model can scale. As more traditional businesses understand the benefits of recurring revenue and move towards subscription-based offerings, the need for automated and agile billing solutions to monitor and manage these recurring revenue streams is becoming ever more important.
Here at Cerillion, we are ready to help you burn those Excel spreadsheets once and for all. Cerillion Skyline
is a powerful cloud billing and subscription management platform that will help your business to:
- Automate billing processes
- Launch new products and services fast
- Increase recurring revenue
- Boost customer retention
- Improve speed and accuracy of billing
- Get access to real-time business metrics
Skyline not only helps you to get rid of inefficient spreadsheets but makes billing a competitive advantage for your business.
So, go on folks, listen to Kanye and make your billing great again!
For Cerillion Skyline product information, demos and more, visit www.cerillion.com/skyline