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December 2015 MantraNews

Hi,

We hope you find this latest issue of MantraNews helpful. As you read, you'll find relevant information to grow your business as well as updates about Mantralogix.

Recognition

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In October, Kerry and Jess Mann, respectively Founder/ President and Chief Operating Officer of Mississauga based Mantralogix Inc., were named one of ten "Canadian Dynamic Duos" in Co-Gendered Leadership is Advancing Business --  by the Women of Influence organization. For all the details read here!

In November, Mantralogix was selected as the 2015 Small Business of the Year by the Mississauga Board of Trade (MBOT). Read the full story here! 

 

MantraVision 2015

On Wednesday, October 21, 2015 we held our inaugural customer appreciation event, MantraVision 2015.  This also just happened to coincide with our 20th year of business - a true cause for celebration!

Please read our MantraVision 2015 Recap and Blog post by Jess Mann!


Popular Blogs

Fun technology facts from the last 20 years - As we celebrate our 20th anniversary here at Mantralogix, we thought it would be fun to take a look back at how much technology has changed in the last 20 years. - http://insights.mantralogix.com/blog/fun-technology-facts-from-the-last-20-years 

Make choosing an ERP easier by doing these 5 things -- Technology has changed the face of global business. The digital collection and management of data is the blood flow of business now. - http://insights.mantralogix.com/blog/make-choosing-an-erp-easier-by-doing-these-5-things

If you fail to plan for an ERP implementation, your're planning to fail -- It's likely that by now, you've heard of enterprise resource planning (ERP) systems. While purchasing and implementing these systems are a boon to any company, there are difficulties in doing so. - http://insights.mantralogix.com/blog/if-you-fail-to-plan-for-an-erp-implementation-youre-planning-to-fail

Why stay up-to-date with patches, service packs and firmware updates -  Have you ever heard of the term Zero Day Attack? - http://insights.mantralogix.com/blog/why-stay-up-to-date-with-patches-service-packs-and-firmware-updates


Feature Article: Still Using Spreadsheets?

Spreadsheets are slowly and systematically ruining your productivity & management efforts, leading your business to a slow death.

Microsoft Excel is far and away the most prevalent piece of business software used by companies around the world. In a quick poll of organizations we work with, the typical employee has over 10 active Excel workbooks on their PC. Extrapolated out, there are tens of thousands, if not millions of spreadsheets being used by small businesses. So we have to ask - how much of that data is critical to companies goals, their auditability, their compliance requirements, their essential operations? And then you have to consider how much of that data will ever go beyond the person who currently has it, in a way that allows the company to develop knowledge and wisdom to take action on it.

Take this to the next level. What if you are a large multi-national corporation, a government agency or a fast growing firm? How many Excel files do you think you would have in your business? All that data, floating around, unsecured and easily changed. It becomes very scary, very quickly.

As the business world moves ever more rapidly, and as people shift/merge roles, transition out and in, the possibility that you will lose, misplace or corrupt important data because it's housed in Excel becomes more likely. Some examples:

  • A firm tracking all HR compliance data in Excel gets audited and cannot comply with the requirements -- and loses their government contract
  • A company forecasting sales and pipeline via spreadsheets finally determines that forecasts are off because of a double counting error in a formula
  • A business using spreadsheets to manage their inventory suddenly discovers an abundance of dead and unusable stock because someone forgot to tie a new worksheet into the overall inventory workbook.

Despite these, and many more examples, Excel remains the dominant tool for business and data critical functions in most organizations. ERP and CRM software companies remain profitable and stable for a good reason: You need to track these numbers in a way that information can be shared, tracked and audited - in a secure fashion!

If you are running critical processes and reports in spreadsheets, you have a ticking time-bomb in your organization. The arguments for Excel are easy to understand: It’s on everyone’s desktop. It costs very little. It is easy to configure and customize for your specific need and use. Excel does have value in the right circumstance -- ad hoc analysis, what-if scenario planning. But if you are an executive, a project manager or a board member and your firm is relying on Excel to manage critical functions and data, then it is with a 100% confidence interval as to what your organization’s largest risk is… Excel itself.

We could go on and on about why spreadsheets are a ludicrous solution for running important business functions, but the simple fact is that the world has evolved. Stakeholders, boards, regulators, communities and employees are all demanding that organizations take responsibility for their data, decisions and risks. They are demanding that organizations move from old, personal, and disconnected processes to new, effective, auditable systems that can be accessed from anywhere, any device and at any time.

If you are an executive and you’re being presented with critical information in an Excel sheet, or if you’re using Excel to manage mission critical data, it is time to enter the twenty-first century. Close Excel and pick up that old fashioned phone and give us a call. Let's talk about how to make your systems work for you rather than you working to maintain a system.

 

 

  



Table of Contents

Recognition

MantraVision 2015

Popular Blogs

Feature Article: Still Using Spreadsheets?

 


How to Plug Those Costly Leaks

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In this free eBook, we will look at the following causes of profit leaks: Poor Costing, Productivity Hits, Chargebacks, Management by Exception Opportunities, Repetitive Data Entry and Reporting in Excel.

Download eBook


 © Mantralogix Inc. 2015