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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.

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