Why Olapsoft is more convenient than Excel

Many fledgling companies begin the accounting, sales and production planning, budgeting and forecasting processes using tools such as Excel or Google Sheets. However, as operations expand, there comes a point when a company realizes that it has pushed Excel or Google sheets beyond their limitations.
When this happens, the company scrambles to find a better solution for problems related to Excel.
Olapsoft is a solution to these problems and helps companies work efficiently, plan accordingly, while relieving some of the pressures for management. These benefits can be realized when software is no longer a source of nuisance.

With Olapsoft you get

Olapsoft supports a wide set of tools, provides flexibility in setting up interfaces, data storage structures, and calculations

Olapsoft compensates for the disadvantages of Excel and allows a company to take the forecasting and planning activities to a new level.

Scalability is one of the most significant issues with tools such as Excel and Google sheets. More often than not, attempts to scale a financial model in Excel will result in errors and require significant resources. That’s where the bulk OLAP system comes into play – Olapsoft’s tables are multidimensional, where adjustments can be made to each individual dimension. After changes have been made, the system will automatically recalculate tables with no additional refinement of formulas required.

Often, financial models created in Excel or Google Sheets include several files. To recalculate the final report in Excel, users must open the whole chain of dependent files and recalculate them individually. The data may be updated automatically in Google Sheets, however, the formula to link a separate document must be configured for each individual cell. In Olapsoft, tables will always include actual data and reports are recalculated automatically when inputs change.

Financial models or other models may be created and used simultaneously by multiple users. Excel and Google Sheets both share a significant gap in regards to this area. The following scenario is one you may be familiar with: when working in one table, the data starts shifting due to another user’s changes and it becomes difficult to work. This situation even occurs when there are only two users working. Now consider what happens when the number of users reaches 20, 30 or 50? Olapsoft’s platform allows for a large number of users to work simultaneously without interfering with each other. Each user can set up their own table view without interfering with their colleagues’ work. At the same time, no data will be lost as the system retains this table in its original form.

Olapsoft system includes convenient role-based access features, which allow users to quickly set up access for an entire company, department, or at the management level in regards to a specific item (city, version, department, etc.).

Would Excel be better option when working with final reports? That is most likely not the case. Excel provides the user with a pivot table, however, users cannot input data within it and there are a limited number of aggregation formulas. Conversely, Olapsoft automatically aggregates tables because they are built on multi-level dimensions. Thus, data entry is possible within any table view.

Another aspect to consider relates to data security. Anybody who has worked with Excel or Google sheets for an extended time has experienced data loss and spent a lot of time recovering it. More importantly, when it relates to business – leaks of confidential information are unacceptable. Olapsoft protects your data from all angles because it features access control levels, automatic and manual backups, workflow process management, model changes control and audit, encryption and two-factor authentication.

Another case: When the user accidentally made changes to the Excel and closed the file, it becomes impossible to find the changes were made. It will take a long time to fix future errors. With Olapsoft, you will be able to audit each cell and restore backups of your models.

When working with small amounts of data, Excel and Google Sheets are comparable to Olapsoft in terms of calculation speed. However, when the size of the data increases and the formulas become more complex, Olapsoft’s superiority over Excel in terms of calculation speed becomes tangible and significant. The question becomes: Why wait for a long Excel calculation, when users can receive results instantly in Olapsoft?

More so, Olapsoft is as flexible as Excel and Google sheets. With Olapsoft you can build multiple models for different departments and purposes. These features help improve communication between departments to simplify business operations and provide clear results for further analysis. In this way, your company will get a perfect replacement for Excel

Request a Demo to find out how to simplify your planning and what benefits your company will get by switching from Excel to Olapsoft.
You can also find a lot of information about Olapsoft, our projects and partners and system features on our website.

Category
Olapsoft
Excel
Google Sheets
Calculation speed
Faster calculations because of OLAP technology
Slow calculations with large number of rows
Slow calculations with large number of rows
Flexibility
Flexibility is higher than in SAP or Oracle, but lower than in Excel or Google Sheets
High flexibility
High flexibility
Scalability
Simple scalability
Scalability leads to errors and requires a lot of resources
Scalability leads to errors and requires a lot of resources
Data relevance
The tables always have up-to-date data. Reports are recalculated automatically after inputs change
The need to open and recalculate all the Excel files in the chain.
The import formula from another document is customized for each individual cell.
Self-service
Relatively low cost of deployment but more expensive than Excel
Low implementation cost
Low implementation cost
Outage prevention
No possibility of outages. Backups are stored in the cloud.
High possibility of outages while working online
High possibility of outages while working online
Access control for users
High data security. Employees see only the information intended for them.
The need to configure access to each sheet and file for each employee
It is only possible to limit input in cells, but not to prohibit viewing and copying data
Cell history
History of an individual cell, a group of cells, or changes made by a single user.
No cell history function
History of an individual cell
Data storage
Allows to store any volumes of data in SQL/noSQL formats and build data marts for BI and EPM
All data is stored in a file
All data is stored in a document
Potential loss of data
The presence of a single source of data, which makes data loss impossible.
High risks of data loss
High risks of data loss
Role access functionality
Role Access
No Role Access
No Role Access
Workflow coverage
Workflow tool
No Workflow tool
No Workflow tool
Individual views and filters
Ability to save a customized table view for each user
A table set up for one user may be inconvenient for another. Analysts have to create copies of tables.
Users can only save their filters for a table, but not its position.
Planning approaches
Hierarchical data. Automatic data aggregation
Usage of pivot table, that is not comfortable, does not allow to input data
Writing a formula for each cell
Data consolidation
Bottom-up planning and goal cascading (top-down planning)
Manual formation of a separate table
Manual formation of a separate table
Analytics tools
Traceability and Drill Down to a transaction. Analytical methods of tracing and transactions breakdown
Availability of traceability but absence of Drill Down
No traceability and Drill Down
Process optimization
Optimization planning. Both linear and non-linear methods of optimization
Individual statistical formulas
Individual statistical formulas
Version and scenario analysis
Automated version and scenario analysis
Manual configuration of versions and scenarios
Manual configuration of versions and scenarios

Olapsoft has excellent integration with Excel, allowing users to import files in xlsx format in three easy steps:

1.Export of a table view from Olapsoft in xlsx format.
2.Filling the file with data.
3.Uploading the file in xlsx format back to Olapsoft by drag & drop.

This integration provides an opportunity to transfer your data to Olapsoft quickly and start taking advantage of the system in the shortest time.

Demo request

To get test/demo access, send your request with a link to your company's website and a description of the model/functionality you would like to implement based on the Olapsoft platform.

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