All businesses are guilty of wasting at least some time and money. Companies need to adapt and evolve, updating their processes, using new technologies and ideas. Just because something was done a certain way in the past, doesn’t mean it needs to be done that way in the future. Our research tells us that businesses are wasting most of their time and money on the following:
1. Failure to update outdated systems Manual, paper-based systems are inefficient, expensive, time-consuming and are more likely to introduce mistakes. Just because a task was done that way 10 years ago doesn't mean that it needs to be done in the same way today. Businesses should invest in technology that improves processes and makes them more efficient.
Our research tells us that most SME business owners are using spreadsheets to manage their business. And when asked why, they often say that they don't know what else to use.
Before we go any further, spreadsheets provide invaluable tools for collecting and analysing data.They are great for numeric and text values in relatively low volume. However, for very large volumes of data, a relational database has several advantages over a spreadsheet: 1. Data Integrity Access to a spreadsheet is often limited to one person at a time. Relational databases are designed for multiple users and when one person makes a change, it is visible to everybody instantly. This feature preserves data integrity and data consistency, which is harder to manage when using spreadsheets.