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Put another way, with Alteryx involved, information from disparate data sources can flow into your chart of accounts or generalledger without the manual heavy-lifting that's traditionally plagued accounting functions. Documentation and DataAudit. Financial Reporting.
Disadvantages of Excel for Financial Forecasting While Excel is not necessarily bad for dataanalysis or financial forecasting, it may not be the best option available to your business. Limited Visibility To conduct financial dataanalysis, your business needs to test various hypothetical scenarios.
Consolidating your financial data across several generalledgers quickly becomes complicated when you use spreadsheets. When you begin sharing your Excel spreadsheet across your business, you put your sensitive data at risk for security concerns. Excel is ideal as a single-user tool.
While Excel is not necessarily bad for dataanalysis or financial forecasting, it may not be the best option available to your business. To conduct financial dataanalysis, your business needs to test various hypothetical scenarios. Fraud can be challenging to prevent if there is a lack of an audit trail with Excel.
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