--- title: The Future of Spreadsheets in the Office of Finance description: With the Office of Finance becoming more of a strategy driver than simply a reporting sector, the role of Excel (i.e., Spreadsheets) is slowly beginning to change. image: https://download.riverlogic.com/hubfs/Blog_Images/%20futureofspreadsheetsfinance.jpg --- ### Get in Touch [![logo](https://download.riverlogic.com/hs-fs/hubfs/logo.png?width=3153&height=398&name=logo.png "logo")](http://riverlogic.com) [![logo-hover](https://download.riverlogic.com/hs-fs/hubfs/logo-hover.png?width=3153&height=398&name=logo-hover.png "logo-hover")](http://riverlogic.com) - [Solutions](http://www.riverlogic.com/solutions) - [Capacity Planning](https://download.riverlogic.com/solutions/capacity-planning) - [Commodity Trading & Logistics](https://download.riverlogic.com/solutions/commodity-trading-and-logistics-optimization) - [Product Mix & Customer Profitability](https://download.riverlogic.com/solutions/product-mix-customer-profitability) - [Production Planning](https://download.riverlogic.com/solutions/production-planning-and-scheduling) - [Sales & Operations Planning](https://download.riverlogic.com/solutions/sales-and-operations-planning) - [Sourcing & Procurement](https://download.riverlogic.com/solutions/sourcing-and-procurement-optimization) - [Supply Chain & Logistics Optimization](https://download.riverlogic.com/solutions/supply-chain-optimization) - [Supply Chain Network Optimization](https://download.riverlogic.com/solutions/supply-chain-network-optimization) - [Trade Promotion Optimization](https://download.riverlogic.com/solutions/trade-promotion-optimization) - [Industries](https://download.riverlogic.com/industries) - [Building Products](https://download.riverlogic.com/industries/building-products) - [Chemicals](https://download.riverlogic.com/industries/chemicals) - [Consumer Packaged Goods](https://download.riverlogic.com/industries/consumer-packaged-goods) - [Food and Beverage](https://download.riverlogic.com/industries/food-beverage) - [Manufacturing](https://download.riverlogic.com/industries/manufacturing) - [Mining & Metals](https://download.riverlogic.com/industries/mining-and-metals) - [Oil & Gas](https://download.riverlogic.com/industries/oil-and-gas) - [Pharmaceuticals](https://download.riverlogic.com/industries/pharmaceuticals) - [Pulp & Paper](https://download.riverlogic.com/industries/pulp-and-paper) - [Utilities](https://download.riverlogic.com/industries/utilities) - [Technology](https://download.riverlogic.com/technology/prescriptive-analytics-platform) - [Our Platform](https://download.riverlogic.com/technology/prescriptive-analytics-platform) - [Prescriptive Analytics](https://download.riverlogic.com/technology/prescriptive-analytics) - [Resources](https://download.riverlogic.com/resources) - [Blog](https://download.riverlogic.com/blog) - [News](https://download.riverlogic.com/news-2) - [Testimonials](https://download.riverlogic.com/testimonials) - [Partners](https://download.riverlogic.com/partner-program) - [Our Partners](https://download.riverlogic.com/our-partners) - [About Us](https://download.riverlogic.com/about-us) - [Contact Us](https://download.riverlogic.com/contact-us) - [Our Board](https://download.riverlogic.com/board-of-directors) - [Our Leadership](https://download.riverlogic.com/leadership) - [Careers](https://download.riverlogic.com/careers-current) - Get in Touch Get in Touch [![Get in Touch](https://hubspot-no-cache-na2-prod.s3.amazonaws.com/cta/default/484375/8a2efec4-88ad-40a3-bc49-91f4a5e57e38.png)](https://hubspot-cta-redirect-na2-prod.s3.amazonaws.com/cta/redirect/484375/8a2efec4-88ad-40a3-bc49-91f4a5e57e38) Share This [mailto:?subject=The%20Future%20of%20Spreadsheets%20in%20the%20Office%20of%20Finance&body=https%3A%2F%2Fdownload.riverlogic.com%2Fblog%2Fthe-future-of-spreadsheets-in-the-office-of-finance](mailto:?subject=The%20Future%20of%20Spreadsheets%20in%20the%20Office%20of%20Finance&body=https%3A%2F%2Fdownload.riverlogic.com%2Fblog%2Fthe-future-of-spreadsheets-in-the-office-of-finance) # The Future of Spreadsheets in the Office of Finance It may seem like yesterday to some old timers, or just the distant past to more recent newcomers, but spreadsheets haven't really been around for that long. In fact, for all practical purposes, the first one (Excel) was only introduced in 1985. Since then, Excel itself has evolved, and dozens of new competitors have entered the marketplace. Originally a simple organizational resource, spreadsheets rapidly evolved into heavy-duty analytical tools now know as Enterprise Performance Management (EPM) solutions – and that evolution has still not stopped. Still, the simple(?) spreadsheet remains a valued tool in the office of finance. Here are just a few reasons why: ### The Future of Spreadsheets in Finance Despite their seeming versatility, the use of simple spreadsheets for dynamic purposes is likely to decrease. The advent of various cloud-based EPM software packages – and a new wave of solutions known as Corporate Performance Management (CPM) solutions – allows a company to take a more strategic approach to their business. In addition, these solutions allow the various divisions within a company to more easily collaborate and integrate their various contributions to the overall scheme. This evolution is driven by more than just technological advances. Most businesses – even relatively small ones – find themselves dealing with the globalization of many of their products and services. EPMs allow them to readily handle such tedious – but necessary – processes as currency conversions while still providing accurate data consolidation and reporting. Similarly, the acquisition or merger of one company by another leads to the need for data consolidation from multiple legacy systems. That's where EPMs come in. Finally, the “need for speed” – that is, real time reporting – is also driving companies towards the EPM and away from traditional spreadsheets. EPMs allow multiple departments to give timely feedback to the Office of Finance and allows for more insightful and informed decision-making. In a nutshell, the role of the spreadsheet might be changing, but it's not going anywhere any time soon. It will likely live on as a dependable, easy-to-use tool for those simple tasks that don't require robust analytics or data management. And it will almost certainly remain one of the main sources that feeds data into more advanced systems (e.g., EPMs and CPMs). 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