Pros and Cons of Moving from Excel to Quantrix Modelling Software
Quantrix empowers organizations to reach unprecedented levels of business insight and advantage but what are the advantages and disadvantages by moving to financial modelling software. One of the disadvantages of switching off of excel spreadsheets is overcoming inertia -- everyone has grown up with spreadsheets, they are relatively simple to use, and they are ubiquitous within an organization. We have found that there is resistance to any change in an organization, and replacing spreadsheets is no different. In addition to overcoming the cultural issues, you need to change your approach to problem solving. With spreadsheets, you can dive right in. However with modeling tools, business users need to step back, and think through the problem more structurally before they start setting it up. Although, changing the thinking process up front might actually be considered more of a positive from a business perspective! Quantrix changes the mindset from solving technical issues into solving business challenges.
Quantrix sets the standard for business modeling & analytics and among the top benefits of making the change to modeling tools is that you can have your smart people focused on business problems, not Excel spreadsheet problems. You can’t underestimate the value of that. With Quantrix modeling tools, you can create more robust decision models that enable your company to make better decisions, faster. You can have a seamless, direct, and dynamic connection with the data in your enterprise, which enables you to build analysis based on current data. If you compare Quantrix against spreadsheets, it’s far too easy for users to go off on tangents and create a mess of disconnected worksheets and analyses.
Quantrix is designed specifically for the business user and reduces the difficulty of making the switch on the user. We’ve found that people who have experience working with both databases and spreadsheets tend to find it easier to make the leap to modeling tools. People do need to be able to think abstractly. And attitude certainly helps -- if you feel that you could never give up your spreadsheets, chances are you probably won’t. We find that some people “get it” within moments, and others require more training. But the motivational factor is that once users realize that they get to spend more of their time focusing on solving problems rather than manipulating or fixing their spreadsheets, they have a breakthrough. Quantrix Modeling tools enable people to free up their intellectual capacity.
To find out more read about the difference between Quantrix and Excel.