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Where Excel Excels

As they deploy treasury management systems, companies can leverage spreadsheets both to ease the transition for employees and to maintain agility in data analyses.

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Although more sophisticated software has been around for decades, many treasury functions continue to rely primarily—or even exclusively—on spreadsheets such as Microsoft Excel. Currently, more than half of companies (51 percent) use spreadsheets as their only treasury technology, according to research firm The Aite Group.

“I have seen some companies that turn over tens of billions, who are still doing treasury management on Excel,” says Damien McMahon, a partner in PwC’s Financial & Treasury Management practice. “Excel is still the most commonly used system in treasury.”

Soon, however, treasury organizations that rely solely on spreadsheets will be in the minority. The Aite Group report goes on to predict that 55 percent of companies will be using treasury systems other than Excel by 2020. Many of these businesses will be implementing a new treasury management system.

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