Why Not Spreadsheets?

Solutions:

Many organizations struggle to administer pooled endowment funds using spreadsheet applications such as Excel. While they may be readily available, the time and effort in writing, debugging, testing, and maintaining a series of complex spreadsheets can easily exceed the cost of ADAVICO's software and services designed specifically for this purpose. When combined with the inherent limitations of spreadsheets, and the indirect costs of accidental mistakes from even the most careful of users, the choice becomes clear - can your organization afford not to use ADAVICO?

Accuracy & Precision
ADAVICO Excel™
Checks & Balances
ADAVICO utilizes a series of internal checks and balances to validate results. Spreadsheets have no such features unless established and maintained by the user(s) and may contain errors that are difficult to detect.
Validation Capability
ADAVICO runs test data in order to continually verify accuracy and precision of results. Spreadsheets have limited or no validation capabilities, particularly with complex spreadsheet hierarchies.
Input Verification
ADAVICO verifies inputs and rejects/warns of invalid, out-of-range, or unexpected user inputs. Spreadsheets have limited ability to check user inputs.
Data Entry
ADAVICO utilizes a single-entry data approach. Spreadsheets allow multiple entries for same data point resulting in 'out-of-sync' values and/or the pasting of values instead of cell references which may fail to provide correct answers when data point/values are subsequently changed.
Data Protection
ADAVICO's formulas can't be accidentally overriden by the user. Even when locked, it's easy to delete entries and corrupt a spreadsheet, possibly without realizing it until much later.

Reporting & Searches
ADAVICO Excel™
Audit Trail
ADAVICO provides detailed audit trails and supporting documentation. Spreadsheets have limited audit trail features requiring additional testing to verify results.
Custom Reporting
ADAVICO can easily produce custom reports to meet unique user needs. Spreadsheets have limited reporting capabilities.
Report Format
ADAVICO lets you control report format and output. Spreadsheet output often results in improper formatting.
Searches
ADAVICO can perform robust queries on database contents. Spreadsheets have limited ability to perform complex searches.

Functionality
ADAVICO Excel™
Global Changes
ADAVICO implements changes in methodology and data uniformly throughout software and all affected schedules and reports. Changes to spreadsheets have to be made in every affected location - cell, sheet, and workbook(s).
Multiple Users
ADAVICO facilitates sharing among multiple users and can establish different access levels. Spreadsheets are not easily shareable among multiple users and have no ability to establish administration rights.
System Integration
ADAVICO can integrate with other accounting and reporting systems. Spreadsheets may not integrate properly with other systems.
Scalability
ADAVICO accommodates a limitless number of fund accounts. Spreadsheets are technically and practically limited and may suffer from performance issues as the number of fund accounts increases.

Structural
ADAVICO Excel™
Version Control
ADAVICO maintains proper software version controls. Spreadsheets are often shared and frequently users don't have the same version, leading to discrepancies.
Proper Database Methodology
ADAVICO enforces a database rules hierarchy. Spreadsheets have no way to enforce proper database design and can be "tricked".
Programming Language
ADAVICO is a fully documented program enabling easy user transition. Spreadsheets are not a programming language, are poorly documented, and can be difficult to maintain if the resident "Excel Expert" leaves.
Consistency of Methodology
ADAVICO can be utilized by users and organizations of all knowledge levels. Complex spreadsheets may be difficult to follow or update, particularly if the primary user leaves the organization and the new user is not familiar with the methodology or makes improper changes to functioning spreadsheets.
General Ledger System
ADAVICO classifies and records all entries in a balanced general ledger structure. Spreadsheets may not record critical transactions.