Spreadsheet applications are fantastic tools that can help you keep track of data in your store. They’re certainly better than huge paper ledgers, spiral notebooks and paper-clipped purchase orders. But as your business grows, relying too heavily on spreadsheets can hold you back. For starters, the more data you enter by hand, the more errors you’re going to have. Dozens of studies have shown that when humans manually enter large amounts of data, mistakes happen — anywhere from 2.6% to almost 27%. Mistakes can cost you a lot of money.
As your business grows, your data becomes increasingly complex. That’s bad news if you’re the one sitting in the office updating all the pivot tables. Even if you’re paying someone to do it for you, it’s a lot of time that would be better spent on the sales floor.
To be efficient, you need your data in a single location (versus a bunch of disparate spreadsheets), that updates automatically with every sales and purchase order transaction that goes through.
By automating many of your processes, and eliminating time spent in spreadsheets, you could save yourself 3.5 to 12.25 days a month, or 42 to 147 days per year. Maybe it’s time to rethink how much your spreadsheets are truly costing you?