{"id":575,"date":"2017-10-02T14:38:57","date_gmt":"2017-10-02T09:08:57","guid":{"rendered":"http:\/\/blog.orgzit.com\/?p=575"},"modified":"2023-09-15T08:41:15","modified_gmt":"2023-09-15T12:41:15","slug":"spreadsheet-alternative-top-reasons-why-orgzit-works-better-than-spreadsheets","status":"publish","type":"post","link":"https:\/\/orgzit.com\/blog\/spreadsheet-alternative-top-reasons-why-orgzit-works-better-than-spreadsheets\/","title":{"rendered":"Why Orgzit Is A Better Spreadsheet Alternative?"},"content":{"rendered":"\n

Top Reasons why Orgzit Works Better than Spreadsheets<\/b><\/p>\n\n\n\n

Ditch manual, choose automation. <\/i><\/b><\/p>\n\n\n\n

Trusting spreadsheets to run your business is like letting your business do volcano boarding on a live, ready to explode volcano. No, really, Spreadsheets could be a ridiculously dangerous way to run a business. We have a story by <\/span>James Kwak<\/span><\/a> to prove that – <\/span><\/p>\n\n\n\n

The issue is described in the appendix to JPMorgan\u2019s internal investigative task force\u2019s report. To summarize: JPMorgan\u2019s Chief Investment Office needed a new value-at-risk (VaR) model for the synthetic credit portfolio (the one that blew up) and assigned a quantitative whiz (\u201ca London-based quantitative expert, mathematician, and model developer\u201d who previously worked at a company that built analytical models) to create it. The new model \u201coperated through a series of Excel spreadsheets, which had to be completed manually, by a process of copying and pasting data from one spreadsheet to another.\u201d The internal Model Review Group identified this problem as well as a few others, but approved the model, while saying that it should be automated and another significant flaw should be fixed. After the London Whale trade blew up, the Model Review Group discovered that the model had not been automated and found several other errors. Most spectacularly,<\/span><\/p>\n\n\n\n

\u201cAfter subtracting the old rate from the new rate, the spreadsheet divided by their sum instead of their average, as the modeler had intended. This error likely had the effect of muting volatility by a factor of two and of lowering the VaR . . .\u201d<\/span><\/p>\n\n\n\n

With one equation gone wrong, the bank lost more than a billion dollars. That\u2019s a bit too much of money, right? <\/span><\/p>\n\n\n\n

Would you risk your business with a \u2018widely used\u2019 yet manual and error-prone tool? We guess, not!<\/span><\/p>\n\n\n\n

Being paperless or digital is not enough anymore. It\u2019s time to automate – make our processes more robust and error-free. We live in an era when major technological changes are changing the business game in its truest sense. If your business isn\u2019t agile enough to adapt to such changes, it could easily be left behind or even wiped out. <\/span><\/p>\n\n\n\n

A more robust alternative to spreadsheets can be Orgzit. Many business owners are focused on achieving growth, and your workflows management is a big piece of that. It enables you to increase the number of customers, leverage real value from complex org structures, and ultimately establish transparent business processes. As a business owner, you are exposed to a large market for some great work management products to fuel that growth. With this article, we decided to do a quick comparison of two popular options, Orgzit, and Spreadsheets.  <\/span><\/p>\n\n\n\n

This post does not talk about if Google Spreadsheets works best for you or not, it\u2019s a quick analysis of <\/span>how efficiently and productively you can use these products for different use-cases. <\/span><\/i><\/p>\n\n\n\n

To begin with, Google spreadsheets is a <\/span>web-based application that allows users to create, update and modify spreadsheets and share the data live online<\/span><\/i>. While, Microsoft\u2019s spreadsheet, MS Excel allows users to organize, format and calculate data with formulas within the spreadsheet system. <\/span><\/p>\n\n\n\n

Orgzit is a platform that allows you, and your team, to organize business data in an orderly fashion (just like Excel\/sheets). It provides real-time collaboration features (just like Slack\/WhatsApp), analyzes data\/create reports (like Excel\/sheets) and overcome the major limitation that puts Google spreadsheets back in the first gear \u2013 data management.<\/span><\/p>\n\n\n\n

Here are a few reasons how Orgzit can replace Google Spreadsheets\/Excel and become your plug and play collaboration and workflow management tool that needs zero coding.<\/span><\/p>\n\n\n\n

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