Despite the explosion of business intelligence tools and automation platforms, spreadsheets remain the backbone of financial reporting. Microsoft Excel boasts 1.2 billion users, while Google Sheets, part of Google Workspace, now serves over 2 billion users worldwide. Clearly, the spreadsheet isn’t going anywhere. 

For non-technical finance teams, spreadsheets offer an accessible way to build clear, customizable reports. With the added convenience of cloud storage and mobile access, they’ve adapted well to modern workflows. 

But the landscape of financial reporting is shifting fast. With rising demands for real-time, accurate reporting, spreadsheet-only processes are starting to crack under pressure. Manual entry, lack of version control, and slow updates can seriously hinder speed and precision. 

In fact, the 2022 Finance Team Trends Report by Insight Software and Hanover Research found that more than half of finance professionals struggle to complete their work due to outdated, manual methods. 

The good news? A few smart updates like automation, integrations, and error-checking workflows can modernize your spreadsheet approach without overhauling your entire system. It’s time to rethink how we use spreadsheets—not abandon them, but evolve with them. 

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