{"id":589,"date":"2005-04-25T02:33:22","date_gmt":"2005-04-25T07:33:22","guid":{"rendered":"http:\/\/meisterplanet.com\/journal\/2005\/04\/25\/are-spreadsheets-errors-costing-your-company-money\/"},"modified":"2005-04-25T02:34:14","modified_gmt":"2005-04-25T07:34:14","slug":"are-spreadsheets-errors-costing-your-company-money","status":"publish","type":"post","link":"https:\/\/www.meisterplanet.com\/journal\/2005\/04\/25\/are-spreadsheets-errors-costing-your-company-money\/","title":{"rendered":"Spreadsheet Errors Costing Billions"},"content":{"rendered":"<p><a href=\"http:\/\/www.it-director.com\/article.php?articleid=12681&#038;SESSID=5791867620efbd58870627999c1dad42\">IT-Director.com<\/a> has an article up by Philip Howard, who claims that American companies may be losing an estimated $10 billion annually due to mistakes in computer spreadsheets.<\/p>\n<p>A simple problem, such as the misuse of a software feature or incorrectly applied formula equation, can create an estimated  $10,000 and $100,000 cost every month based on a single spreadsheet error.  This is compounded when you consider that auditors <a href=\"http:\/\/www.pwcglobal.com\/\">PricewaterhouseCoopers<\/a> and <a href=\"http:\/\/www.kpmg.com\/\">KPMG<\/a> have both estimated that up to 90% of all important corporate spreadsheets have material errors in them.<\/p>\n<p>It&#8217;s not hard to see how a simple error in an important spreadsheet could cause such trouble.  Most companies don&#8217;t properly audit the setup of spreadsheets created by management for planning and control and most IT departments see doing so as outside their department.  <\/p>\n","protected":false},"excerpt":{"rendered":"<p>IT-Director.com has an article up by Philip Howard, who claims that American companies may be losing an estimated $10 billion annually due to mistakes in computer spreadsheets. A simple problem, such as the misuse of a software feature or incorrectly applied formula equation, can create an estimated $10,000 and $100,000 cost every month based on &hellip; <a href=\"https:\/\/www.meisterplanet.com\/journal\/2005\/04\/25\/are-spreadsheets-errors-costing-your-company-money\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Spreadsheet Errors Costing Billions&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-589","post","type-post","status-publish","format-standard","hentry","category-websites"],"_links":{"self":[{"href":"https:\/\/www.meisterplanet.com\/journal\/wp-json\/wp\/v2\/posts\/589","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.meisterplanet.com\/journal\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.meisterplanet.com\/journal\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.meisterplanet.com\/journal\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.meisterplanet.com\/journal\/wp-json\/wp\/v2\/comments?post=589"}],"version-history":[{"count":0,"href":"https:\/\/www.meisterplanet.com\/journal\/wp-json\/wp\/v2\/posts\/589\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.meisterplanet.com\/journal\/wp-json\/wp\/v2\/media?parent=589"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.meisterplanet.com\/journal\/wp-json\/wp\/v2\/categories?post=589"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.meisterplanet.com\/journal\/wp-json\/wp\/v2\/tags?post=589"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}