Why do you need Workbook Audit Trails?

Based on recent studies, 90% of Workbooks have been shown to have material errors (Panko [2000]).
Of those workbooks that have errors, 1.1 % to 21 % of the cells are incorrect, estimates suggest that such errors costs between $10,000 and $100,000 per error per month (PricewaterhouseCoopers and KPMG).

Fraud costs businesses an average of 5% of revenue each year and 87% of fraud goes undetected (Association of Certified Fraud Examiners).

Current methods for tracking changes in Excel, by sharing workbooks or by comparing worksheets, don't capture many of the events that occur during normal workbook use. Sharing workbooks for any extended period of time will increase the file size exponentially, making the workbook unusable.  

Finding and eliminating the sources of fraud and errors is critical in a business. 

Who is it for?
officeAutomata is a tool for people who use Excel daily, for managers who's employees work in Excel, and for companies who's Workbook are reviewed by auditors. 

What does it do?
It tracks all changes made to a workbook, recorded by: Windows log-in of person who made the change, Workbook file location, Workbook & Worksheet name, Change Type, Cell Address, Cell Value, and time of change. 

Why is this useful?
For people who want to review changes made to a workbook sent to them, a local change report can be sent as an additional sheet to show all the changes made in a single workbook. For managers who's employees work in Excel, managers can load an enterprise or team change report to error-check and review the productivity of employees. For companies whose Workbooks are reviewed by auditors, auditors can load enterprise change reports of critical Workbooks to review their compliance with internal company controls. 

 

Technical Information