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Challenges with Spreadsheets
- Error-Prone Processes: Manual data entry and lack of real-time validations increase the risk of errors. Studies suggest that 88% of spreadsheets contain errors, which can lead to costly mistakes in estimates.
- Limited Scalability: Spreadsheets are cumbersome for handling large datasets, making it difficult to analyze trends or manage complex cost estimation scenarios.
- Poor Collaboration: Collaboration on spreadsheets in shared environments often leads to version control issues, overwrites, and loss of critical information.
- Time-Intensive: Routine updates and maintaining formulas or templates can drain significant staff time.