PerfectXL | External Link
A leading asset management company categorizes spreadsheets in high and low risk. All high risk spreadsheets are enriched with a PerfectXL report.
Before PerfectXL
Before implementing PerfectXL, category two (high risk models) felt unusable due to incredibly strict restrictions and limitations. Without understanding what potential risks or errors were in place, and without version management software, documenting and justifying changes was an incredibly pain staking process. Improving the files at all was an incredibly time intensive process.
“The PerfectXL reports add a layer of documentation and control that allow us to utilize high profile models without the fear of unforeseen issues.”
After PerfectXL
With PerfectXL, a model’s limitations are clearly documented and any change made can be simply validated by running a new report. Any changes that might have a negative impact on a file can also be verified with PerfectXL Compare which quickly shows what has changed between two versions. PerfectXL Compare also generates change logs so that users can easily go back and view changes between versions. Confidence in actually using and improving Excel files has increased massively.
Conclusion
Now that users are comfortable with PerfectXL, the risk associated with working with files (in either category) is much lower, and much of the time burden has been removed around documentation and verification of changes.