Linked Worksheets and Workbooks

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Linked Worksheets and Workbooks

Worksheets and workbooks have long been the backbone to many organizations and companies. They are used for just about all a business’s record keeping, from tracking sales to the financial accounting. I reviewed a couple of articles and I found one that emphasized the need for proper workbooks and worksheets. This article goes in detail on how a company by the name of Jaguar Mining took its workbooks and consolidated them to fit the business needs. Jaguar Mining was having trouble because even though it was a small company it was trying to manage three separate workbooks, composed of over 100 linked spreadsheets, containing the financial and operational data for the mining and headquarters locations. That was a lot of work for such a minor company. Each sheet represented different functions for each mine and plant, including operating, capital, and cost data, as well as the monthly financial results. Well this was an impossible task at a company that only had ten people at the company headquarters. The company found that Excel just was not going to work for them. What it did next was switch to a company called Adaptive Planning (now called Adaptive Insight). It still has workbooks and worksheets but now the information that is needed is merged to suit the company’s needs. Jaguar Mining still has its workbooks and worksheets but now can input the data in a form that can be easier to review and understand. In my conclusion I will just state that without a well-defined plan on managing workbooks and worksheets the company Jaguar Mining would have continued having problems. This is why these highly effective workbooks and workspaces are a requirement for companies.

References
Retrieved from: http://businessfinancemag.com/business-performance-management/case-point-how-small-can-be-strong