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Three reasons to reduce spreadsheet dependency

Spreadsheets have been a staple tool of finance for over forty years. They’re ubiquitous, with 1.2 billion users of Microsoft Office worldwide, and 80% of businesses currently rely upon them for tax purposes. But are they still the best tool for the job?

In our 2019 Tax Professionals Survey, 35% of tax and finance professionals said they are already looking to move away from using spreadsheets following the introduction of Making Tax Digital (MTD). There’s a growing sense that, with the introduction digital submissions and digital links, MTD may well present an opportunity to begin to rethink how we manage compliance data and carry out calculations.

Adept4 plc is seeking to become a leading provider of ‘IT as a Service’ to the SME sector utilising leading third party cloud and infrastructure services which concentrate on creating a value proposition focused on aggregated solutions with a single trusted partner managing the customer experience and support. As of 1st March 2018, MXC Capital Ltd (LON:MXCP) holds a 25% share in Adept4

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.