How do you currently use Excel? Would you say you are the whiz kid of creating complex calculations and colourful charts and graphs, and have the speed of Usain Bolt when manipulating the tools Excel has to offer?
We remember learning Excel at school to handle all things numbers; it serves as a sturdy, capable keeper of data and basically, a giant calculator for most businesses. It’s not breaking news to find out that Excel is being used to store large overwhelming amounts of data in complex spreadsheets. Easy to use and inexpensive, Excel has become the go-to business tool when it comes to managing numbers and reports as it is designed to simulate a paper worksheet.
But how far will its functionality take you in your day to day tasks? At some point or another, data will become too overwhelming for your spreadsheet to handle and will become corrupted and lost.
Spreadsheets are not the answer for long-term data storage. Many businesses need something more than a spreadsheet. They need a database.
A database can provide all the tools and functionality of a spreadsheet, but a database can offer you security and integrity so the worst case scenario does not unfold. Databases provide so much more in terms of storage, reporting, alerts, CRM tools… – the list goes on!
A database can store and manage far more than just numbers; it can hold text for notes, reference codes, images and documents. Databases are created and developed with certain cognitive software which provide logical patterns to organise information properly and proactively. Smart software developed into databases allows links to be formed between varied data, information to be updated automatically across multiple departments and produce quick visibility on reports and contract activities.
With all functions working in real time, databases improve the quality of your data with patterns and processes so nothings get missed. Don’t be worried about saying goodbye to your impressive network of spreadsheets, the best thing about databases is that you can easily import and export your worksheets.
Databases are a more sophisticated tool for a more worldly business.
Looking to update your spreadsheets to a Contract Management Database. Take a look at Accord, proven to be more than just a keeper of data.
Learn more from our team and how innovative contracts management can empower your business.