What is your biggest concern when using spreadsheets?

Sageworks recently hosted a webinar, “Concerns Examiners Have About Your Spreadsheets and How to Respond”, led by Jay Gallo, partner at RMPI Consulting, and Sageworks. Bankers learned best practices, common pitfalls and examiners’ concerns related to financial institutions’ use of spreadsheets. 

During the presentation, over 180 financial institutions were asked what their biggest concern is when using spreadsheets. Fifty-five percent of respondents noted that the “cascading effects of errors” was their biggest concern, while another 19 percent selected “inconsistency between locations and employees” as their top concern when using spreadsheets.  Other concerns that were mentioned by attendees were time consumption and user errors. The full poll results are below.

Sageworks, a financial information company that provides Lending, Credit Risk and Portfolio Risk Solutions to financial institutions, leads a monthly webinar series. These free, educational webinars are led by banking industry experts who bring unique market intelligence, insights and best practices to our financial institution clientele. Access archived webinar recordings and sign up for future webinars here:
Bank Webinars.