The easy way to connect Excel document directly to a central database
Risk assessment has become an integral part of today’s organization as business operations are expanding and being diversified, resulting in increased risk exposure. In addition, the tightening of regulatory bodies across the globe has resulted in the emergence of assurance functions such as operational risk management, information security, internal audit, internal control, and compliance. Each of these functions stresses the importance of risk assessment within the organization. Generally, there is room for debate about integration among all assurance functions and the use of an integrated risk assessment program (IRAP). One key element is which methodology and system (tool) that is used for risk management.
Who is familiar with preparing a good Excel spreadsheet that is then sent out to department heads for generating budgeting data. At the end of the budgeting process all Excel spreadsheets are collected and imported to an ERP system or data is manually processed. A scalable, easy to deploy system such as Xadd for financial planning enables you to use all features of Excel, collect data centrally in a database that manages access and version control of data shortens the time needed for your budgeting process.
Managing multiple projects can be time consuming. By using Excel connected to a central database enables you to get users to collaborate and provide information relating to projects, even manage your internal audit schedule. Xadd can be used to track information relating to business strategy, goals, manage employee workload etc.