[IMGCAP(1)][IMGCAP(2)]Microsoft Excel is, without a doubt, the most commonly used software program in today’s finance department, from the CFO down to the staff accountant.

The advantages of Excel are obvious– it is cheap, it is easy to use, it is flexible, and it is extremely powerful (even more so if you dig into the 90 percent of features that most users never touch). However, many of the characteristics that make Excel so appealing to an individual can also make it a problem for an organization. Excel is difficult to control, difficult to secure and, over time, can lead to processes that are inefficient and represent significant risks to an organization.

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