7) Easier budgeting with automatic consolidation
Spreadsheets are highly usable for budgeting, although this also presents some challenges along with what has been discussed above.
If budgets are entered into several spreadsheets, it often proves quite tedious to consolidate these individual budgets. Apart from the extra typing, this also increases the risk of errors. Furthermore, you tend to end up with a large confusing spreadsheet all dependent on the number of different budgets that have to be gathered. Lastly, it is also problematic to make rolling budgeting figures.
By utilising a BI solution with integrated budgeting the above problems are nullified. The budgeting procedure is made easier, faster, and more secure. Also, de-central budgeting is much easier, and the finished budget is easily compared to realised numbers through a matter of few clicks.