Introduction

Spreadsheets became a business standard in the 1980s, and the majority of people still feel comfortable using them today. Type 'Spreadsheets for businesses' into Google and it will return page after page of management templates that are supposed to assist "streamline the speed and utility of your business". These free tools and recommendations offer to help organisations manage and categorise their data in a logical fashion, so helping their growth.

But imagine this:

Your HR leaves you with a data-embedded Excel spreadsheet that might as well be written in Greek?

And are you now finding the list of vendors with just ctrl+f to do the task? Seems relatable?

Right?

With no clear structure or standardized format, crucial data like vendor lists can easily become buried within the cells and formulas. The departure of one staff only exacerbates the issue, leaving you decode the tangled web of information.

As you stare at the spreadsheet, frustration mounts with each passing moment. Where are the vendor contacts? What were the agreed-upon terms? Without a clear roadmap, you're left navigating just through the cells. It's moments like these that highlight the shortcomings of Excel. Its lack of centralized data management and susceptibility to human error make it an unreliable tool for critical business operations.

How Manual Entry Impacts Productivity

Manual entry can have a significant impact on productivity, leading to several inefficiencies and limitations. Here are some of the ways manual entry can impact productivity:

• Time-consuming: Manual entry is a time-consuming process that can take up valuable time and resources. Employees may spend hours copying and pasting data between systems, leading to a reduction in overall productivity.
• Increased labour costs: Manual entry can lead to increased labour costs, as employees spend more time on basic tasks that could be automated. This can also lead to skilled professionals using their time on menial processes that can be automated, leading to a waste of resources.
• Reduced accuracy: Manual entry is prone to errors, which can lead to a reduction in accuracy and quality. This can lead to additional time and resources being spent on fixing errors and re-checking documents.
• Tedious and repetitive: Manual entry can be tedious and repetitive, leading to boredom and employee dissatisfaction. This can also lead to burnout and a reduction in employee morale.
• Lack of visibility: Manual entry can lead to a lack of visibility and transparency, making it difficult to track vendor performance and identify areas for improvement. This can lead to missed opportunities and a lack of accountability.

The Time-Consuming Nature of Spreadsheets

Spreadsheets have long been a go-to tool for various business functions, including vendor management. However, their time-consuming nature and susceptibility to errors make them ill-suited for managing complex vendor relationships.

The absence of search capabilities further compounds the issue, making it a Herculean task to locate critical information when needed.

Excel's lack of a dashboard for important metrics and KPIs is a glaring limitation in today's fast-paced business environment. Unlike open-source inventory management systems, which effortlessly provide real-time insights into sales performance, order processing times, and potential data anomalies, Excel users are left drowning in a sea of workbooks and pivot tables.

Spreadsheets are prone to mistake

Spreadsheets aren't prone to errors, but their users undoubtedly are. With so many individuals working on a single spreadsheet, and so many revisions and computations taking place at the same time, it's normal for spreadsheets to have errors.

If you're looking for precision, don't expect it from spreadsheets. That is why it is wise to invest in database software that can swiftly and accurately resolve issues on its own or alert you to them so that you can fix them. Because the worst thing about spreadsheets, especially huge ones, is that it's easy to overlook problems unless you're constantly scouring it row by row.

Spreadsheets - Jack of all trades, master of none!

Spreadsheets are extensively used due of their versatility, however this makes them too generic to be useful. They are excellent at doing a variety of duties, yet they are not efficient for anybody. As a result, the effectiveness of spreadsheets as a tool is undermined.

Transitioning to a Vendor Management System

To overcome the limitations of manual methods and spreadsheets, organizations are increasingly recognizing the need to transition to dedicated Vendor Management Systems.
These systems offer robust features for centralizing vendor data, streamlining communication, and enhancing collaboration.

Raze is the Solution

We bring Vendor management software to oversee every dollar spent giving you time back to focus on more important work.

We streamline your tasks.

Utilizing a spreadsheet fails to provide essential context for pricing, utilization, or contract status. It is unable to identify an expensive, unnecessary tool that is due for renewal. Moreover, the constant issue of data decay arises unless stakeholders consistently update it, which is often unlikely.

Furthermore, if someone tampers with the "custom sort," it can lead to additional complications.

Therefore, the time has come to contemplate the adoption of Raze.