Ventana Research Findings Confirm Love-Hate Relationship With Spreadsheets

Business Wire, Dec 11, 2007

Benchmark Research on Spreadsheet Use Finds Inefficiency and Risk; Uncovers New Approaches to Increase Productivity

SAN MATEO, Calif. -- Ventana Research's new benchmark research, "Requirements for 21st Century Spreadsheets: Uses and misuses of a critical business technology" confirms the widespread use of spreadsheets and details the problems they pose. Errors are common, even in a company's most critical spreadsheets, as is out-of-date information. Unfortunately, people are either unaware of the productivity drain that results from extensive use of spreadsheets in collaborative and repetitive business processes, or they are in denial both of the inefficiencies and of the business risks spreadsheet errors pose.

"One of the most striking findings from our research is the degree to which people who use spreadsheets have become numb to the real risk of losses and difficulties they pose. Individuals do not realize the extent to which using spreadsheets hinders their efficiency," said Robert Kugel, Ventana Research's Senior Vice President and research director who heads the company's financial performance management practice. "Amid the gloom of inefficiency and risk, however, there is a ray of light. Software now exists to help solve the issues that frequently arise whenever spreadsheets are used in collaborative, repetitive, enterprise-wide processes."

Ventana Research will expand on the key findings of this research study, including how to evaluate the maturity of organizations using spreadsheets, at a live interactive webinar, "Requirements for 21st Century Spreadsheets," on Friday, December 14th at 10:00am Pacific time.

Sign up for the webinar at http://www.ventanaresearch.com/webinars

The webinar will address what you can and should do to protect your organization in the face of the following alarming statistics:

* Half of survey participants reported they find major errors in data and formulas in the most important spreadsheets they use.

* 42% find out-of-date information in spreadsheets frequently or all the time.

The research, sponsored by technology providers Actuate (www.actuate.com), Compassoft (www.compassoft.com) and eXpresso Corp (www.eXpressocorp.com) is based on an analysis of 297 validated respondents of companies from all major industries. The survey was conducted with the assistance of media partners BI Review, DM Review and Intelligent Enterprise.

Media may request a copy of the benchmark research or schedule an interview with the lead analyst, Robert Kugel, by contacting Sandra Freeman at sandra.freeman@ventanaresearch.com.

About Ventana Research

Ventana Research is the leading research and advisory services firm focused on the intersection of people, processes, information and technology to enable breakthrough performance. By providing expert insight and detailed guidance, Ventana Research helps clients operate their companies more efficiently and effectively. To learn how Ventana Research Performance Management workshops, assessments and advisory services can impact your bottom line, visit www.ventanaresearch.com.

(c) 2007 Ventana Research, Inc.