Spreadsheet Risk Issues

It is interesting to note that the riskiness of operational spreadsheets are overlooked even by companies with high standards of risk management. Only when errors amount to actual losses do they realize that these risks have been staring them in the face all along.

Common spreadsheet risk issues

Susceptibility to trivial manual errors

Due to the fundamental structure of spreadsheets, a slight change in the formula or value in any of their inhabited cells may already affect their overall output. An

  • accidental copy-paste,
  • omission of a negative sign,
  • erroneous range selection,
  • incorrect data input or
  • unintentional deletion of a character,cell, range, column, or row

are just some of the simple errors spreadsheet users frequently encounter. Rarely are there any counter-checking controls in place in a spreadsheet-based activity and manual errors therefore easily go undetected.

Possibility of the user working on the wrong version

How do you store spreadsheet files?

Since the most common reports are usually generated on a monthly basis, users tend to store them using variations of these two configurations:

spreadsheet storage

If you notice, a user can accidentally work on the wrong version with any of these structures.

Prone to inconsistent company-wide reporting

This happens when a summary or ?final? spreadsheet is fed information by different departments coming from their own spreadsheets. Even if most of the data in their spreadsheets come from one source (the company-wide database), erroneous copy-pasting and linking, or even different interpretations of the same data can result to contradicting information in the end.

Often defenceless against unauthorised access

Some spreadsheets contain information needed by various individuals or department units in an organisation. Hence, they are often shared via email or through shared folders in a network. Now, because spreadsheets don’t normally use any access control, any user can easily open a spreadsheet file and view or modify the contents as he wishes.

Highly vulnerable to fraud

A complex spreadsheet system with zero or very minimal controls provides the perfect setting for would-be fraudsters. Hidden cells with malicious formulas and links to bogus information can go unnoticed for a long time especially if the final figures don’t deviate much from expected values.

Spreadsheet risk mitigation solutions may not suffice

Inherent complexity makes testing and logic inspection very time consuming

Deep testing can uncover possible errors hidden in spreadsheet cells and consequently mitigate risks. But spreadsheets used to support financial reporting are normally large, complex, highly-personalised and, without ample supporting documentation, understandably hard to follow.

No clear ownership of risk management responsibilities

There?s always a dilemma when an organisation starts assigning risk management responsibilities for spreadsheets. IT personnel believe users in the business side of the organisation should be responsible since they are the ones who create, edit, store, duplicate, and share the spreadsheet files. On the other hand, users believe IT should be responsible since they have always been in-charge of managing IT infrastructure, applications, and files.

To get rid of spreadsheet risks, you’ll have to get rid of spreadsheets altogether

One remedy is to have a risk management activity that involves both IT personnel and spreadsheet users. But wouldn’t you want to get rid of the complexity of having to distribute the responsibilities between the two parties instead of just one?

Learn more about Denizon’s server application solutions and how you can get rid of spreadsheet risk issues.

More Spreadsheet Blogs


Spreadsheet Risks in Banks


Top 10 Disadvantages of Spreadsheets


Disadvantages of Spreadsheets – obstacles to compliance in the Healthcare Industry


How Internal Auditors can win the War against Spreadsheet Fraud


Spreadsheet Reporting – No Room in your company in an age of Business Intelligence


Still looking for a Way to Consolidate Excel Spreadsheets?


Disadvantages of Spreadsheets


Spreadsheet woes – ill equipped for an Agile Business Environment


Spreadsheet Fraud


Spreadsheet Woes – Limited features for easy adoption of a control framework


Spreadsheet woes – Burden in SOX Compliance and other Regulations


Spreadsheet Risk Issues


Server Application Solutions – Don’t let Spreadsheets hold your Business back


Why Spreadsheets can send the pillars of Solvency II crashing down

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Saving Energy Step 1 ? Implementing a Management System

There has been much hype down the years regarding whether management is art or science. Thankfully, where people are concerned the pendulum has swung away from standard times in sweatshops in the west. However, when it comes to measuring physical things like harvest per square meter and the amount of energy consumed there is no substitute for scientific measurement, and this implies a system.

Managing energy cost and consumption down is like any other strategy. American engineer / statistician / management consultant W. Edwards Demming may have passed on in 1993. However he was as right as ever when he said:

  1. When people and organizations focus primarily on quality, this tends to increase and costs fall over time.
  1. However, when people and organizations focus primarily on costs, costs tend to rise and quality declines over time.

Demming believed that 90% of organizational problems arise from systems we put in place ourselves. This can be because we are so accustomed to them that we fail to notice when they are no longer relevant. The currently prevailing laissez faire towards energy is a case in point. What is managed improves and what is not, deteriorates. We know this. Let us take a look at how to apply this principle to energy management.

First, you need to get the subject out the closet and talk about it. How often do you do this is your boardroom, and how does energy rank against other priorities? Good governance is about taking up a position and following through on it. Here is a handy checklist you may like to use.

  • Do we use a consistent language when we talk about energy? Is it electricity, or carbon emitted (or are we merely fretting over cost).
  • How well engaged are we as a company? Looking up and down and across the organization are there points where responsibility stops.
  • How well have we defined accountability? Do we agree on key performance areas and how to report on them.
  • Are we measuring energy use at each point of the business? When did we last challenge the assumption that ?we’re doing okay?.
  • Have we articulated our belief that quality is endless improvement, or are we simply chasing targets because someone says we should.

A management system is a program of policies, processes and methods to ensure achievement of goals. The next blog focuses on tools and techniques that support this effort.

Mobile Workforce Management in a nutshell

It is fairly common for businesses to have staff working across many different locations across the country or even the world.  Engaged in various activities like  door-to-door sales, delivery and installations, service maintenance, conducting inspections & investigations or even data collection.

Managing and co-ordinating tasks, scheduling activities, planning and monitoring activities and communicating can often be challenging.

Mobile Workforce Management is the automation of the entire end-to-end workflow management and operations of any field service workers. 

Mobile Workforce Management Synonyms

Mobile Workforce Management is also known as

  • Field Service Management
  • Job Scheduling Software
  • Job Management Software

Advantages of Mobile Workforce Management

It is increasingly clear that there needs to be a certain sense of discipline and streamlining of field operations and important to automate certain tasks within field sales and operations, primarily because it helps you to track your assets remotely and ensuring contact with your workforce when required. Enabling your team to get in touch when required.

Most importantly, engineers, sales representatives and customer care executives can easily send information, scan receipts, Invoice customers and retrieve other crucial information in a standardized and streamlined manner. Assisting in regulating your business and also bringing some order to what is usually a very chaotic mode of working.

Why choose Mobile Workforce Management

Work Force Management tools help you to stay in control. They assist in automating what can and should be automated leaving only the crucial human-human interactivity. Helping you to keep a record of all interactions and important data within a database, without you having to manually go through sales receipts, complaint slips and other such details.

A Field Force Management tool is a time-saver and efficiency tool for companies. Moreover, these tools help to automate several aspects of your day to day operations, leading to an increase in productivity and motivation.

Streamlining operations, will also ensure that important stakeholders are well informed and management visibility is enhanced. Helping your business to make smarter decisions and help serve your customers better.

Field Force Management is similar to an Enterprise Resource Planning (ERP) solution but is vastly different. It is specifically targeted at staff that work on the field and is intended to make their and your work more streamlined, transparent and easy to track.

Cloud based solutions help you automate

 Field Force Management is usually cloud based which means all data is stored and accessible on secure cloud servers. There is no question of losing important data or not being able to retrieve something important. If something goes missing, there will usually be a backup available. Field force management tools include the software, the hardware and also the kind of training that is required for users to use it efficiently.

The software usually helps in saving and processing information while the hardware helps employees to enter important data into devices while they are on the job. Sometimes, field force solutions can also be a mobile app which negates the need for a specific or special device.

This is very important when it comes to field jobs as carrying different devices can prove to be a cumbersome job. At the end of the day, field force solutions are meant to reduce the burden on staff and not actually inadvertently increase it.

Denizon?s FieldElite Mobile Workforce management application provides significant improvements in efficiency and service with a switch to digital working and the elimination of paperwork.

All the information that is stored on the cloud can be run through analytics software so that you get the kind of reports that you are looking for to improve your business.

Field Force Management Process

A field force management tool helps you to remain in contact with your staff while they are at work on the field. This helps you to track your personnel in real time. Field personnel or your staff can log in and enter their attendance using a smartphone. You can assign that particular day?s task remotely using a web console or your own smartphone.

Next, they can carry out whatever duties they need to while you get all the alerts that you set to receive. This helps to increase transparency. You can choose to receive alerts on your phone or on your desktop.

Finally, staff can tag completed tasks with audio and images, instead of they having to type reports. This helps to focus more on the job than on job reporting. Last but not the least, location tags help you to ensure that the job is done at the right place. Your staff will not be able to take your generosity for granted.

All in all, a field force management tool helps you to track and control your staff without you having to be physically present with them and this is the beauty of this tool.

Summary

Field Force Management helps companies to reduce administration expense and improve productivity. This helps to automate data integration which is usually done with the help of cloud servers. Moreover, you can set invoice parameters that help you to also keep track of stocks, inventories and engage in P.O. and task management.

A number of field force management users also use it as a tool to engage in credit management. Banks and insurance companies particularly find this tool helpful as payments can be received on the job, instead of asking customers to pay online or offline. This also helps in building valuable customer relationships and enhance loyalty.

Thirdly, a field force management tool helps to increase planning efficiency. This means, you will be able to allocate tasks and optimize routing. All this helps to increase your ROI at the end of the day and get back the money you invest on field force management.

Finally, you will have more control over productivity and sales thanks to automation of data collection. You will also have more control over the execution of tasks and that will invariably make your company leaner and smarter.

How DevOps oils the Value Chain

DevOps ? a clipped compound of development and operations – is a way of working whereby software developers are in a team with project beneficiaries. A client centred approach extends the project plan to include the life cycle of the product or service, for which the software is developed.

We can then no longer speak of a software project for say Joe?s Accounting App. The software has no intrinsic value of its own. It follows that the software engineers are building an accounting app product. This is a small, crucially important distinction, because they are no longer in a silo with different business interests.

To take the analogy further, the developers are no longer contractors possibly trying to stretch out the process. They are members of Joe?s accounting company, and they are just as keen to get to market fast as Joe is to start earning income. DevOps uses this synergy to achieve the overarching business goal.

A Brief Introduction to OpsDev

You can skip this section if you already read this article. If not then you need to know that DevOps is a culture, not a working method. The three ?members? are the software developers, the beneficiaries, and a quality control mechanism. The developers break their task into smaller chunks instead of releasing the code to quality control as a single batch. As a result, the review process happens contiguously along these simplified lines.

Code QC Test ? ? ?
? Code QC Test ? ?
? ? Code QC Test ?
? ? ? Code QC Test
Colour Key Developers Quality Control Beneficiary

This is a marked improvement over the previously cumbersome method below.

Write the Code ? Test the Code ? Use the Code
? Evaluate, Schedule for Next Review ?

Working quickly and releasing smaller amounts of code means the OpsDev team learns quickly from mistakes, and should come to product release ahead of any competitor using the older, more linear method. The shared method of working releases huge resources in terms of user experience and in-line QC practices. Instead of being in a silo working on its own, development finds it has a richer brief and more support from being ?on the same side of the organisation?.

The Key Role that Application Program Interfaces Play

Application Program Interfaces, or API?s for short, are building blocks for software applications. Using proprietary software-bridges speeds this process up. A good example would be the PayPal applications that we find on so many websites today. API?s are not just for commercial sites, and they can reduce costs and improve efficiency considerably.

The following diagram courtesy of TIBCO illustrates how second-party applications integrate with PayPal architecture via an API fa?ade.

Working quickly and releasing smaller amounts of code means the OpsDev team learns quickly from mistakes, and should come to product release ahead of any competitor using the older, more linear method. The shared method of working releases huge resources in terms of user experience and in-line QC practices. Instead of being in a silo working on its own, development finds it has a richer brief and more support from being ?on the same side of the organisation?.

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The DevOps Revolution Continues ?

We close with some important insights from an interview with Jim Stoneham. He was general manager of the Yahoo Communities business unit, at the time Flickr became a part. ?Flickr was a codebase,? Jim recalls, ?that evolved to operate at high scale over 7 years – and continuing to scale while adding and refining features was no small challenge. During this transition, it was a huge advantage that there was such an integrated dev and ops team?

The ?maturity model? as engineers refer to DevOps status currently, enables developers to learn faster, and deploy upgrades ahead of their competitors. This means the client reaches and exceeds break-even sooner. DevOps lubricates the value chain so companies add value to a product faster. One reason it worked so well with Flickr, was the immense trust between Dev and Ops, and that is a lesson we should learn.

?We transformed from a team of employees to a team of owners. When you move at that speed, and are looking at the numbers and the results daily, your investment level radically changes. This just can’t happen in teams that release quarterly, and it’s difficult even with monthly cycles.? (Jim Stoneham)

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