Solutions

The objective in tackling spreadsheet problems is to create an efficient model that maintains the clarity and coherence of a simple structure and enables informed business decisions.

Having worked with companies of all sizes from a variety of different fields and sectors, we find the five most effective solutions to spreadsheet problems are as follows:

• Adopt FAST industry standards of modelling, which endeavour to ensure spreadsheets are flexible, accurate, structured and transparent.  
• Separate the "conceptual modelling" job from the "spreadsheet programming" role.
• Provide formal spreadsheet modelling training, appropriate to each user group within your organisation.
• Familiarise yourself with spreadsheet audit software.
• Enlist professional support for laborious and advanced coding.

Just as problems are rarely caused by a single isolated factor, one solution will generally not be as effective as a combination of all five of the above measures. Experience tells us that this is the best way to achieve success that lasts, empowering your business to overcome future problems quickly and effectively as they arise.

Companies who face spreadsheet problems occasionally adopt ill-advised measures which do NOT work.

• DO NOT try to substitute the spreadsheet for another programme. Practical alternatives do not exist - the spreadsheet is here to stay.
• DO NOT try to build the "mother-of-all-spreadsheets". It takes too long and costs too much, is out of date on arrival, and leaves you with an unmanageable and therefore risky tool.

The best strategy is to stick with the ubiquitous spreadsheet, particularly given the accessibility and flexibility that it offers. When constructed and managed well, the spreadsheet is an invaluable tool for business management but there are no short cuts to achieving this. You demand expertise, high standards and professionalism in all other aspects of your business, don’t make the costly mistake of thinking spreadsheet modelling requires less consideration.