More than two-thirds of mid-sized UK businesses still rely on spreadsheets as the main tool to support decision-making, according to research.
The study of 100 directors of mid-sized firms by analyst Quocirca and IBM also shows that 80 per cent of respondents say they have significant problems as a result of using spreadsheets, with issues cited including duplicated data and inaccurate information.
And 35 per cent went as far as admitting that using spreadsheets has a noticeably detrimental affect on the business.
“In a challenging economic climate, it’s staggering that mid-market companies are gambling critical company decisions on unreliable spreadsheets and dodgy data,” said Quocirca service director Clive Longbottom.
“These firms are far too established to rely on the roll of the dice when it comes to business critical decisions. Budget and resource planning cannot be left to chance by using systems that allow poor quality data to fester.”