The emerging Spreadsheet Management software market will skyrocket over the next five years, increasing more than 33-fold to $500 million by 2011, according to Ventana Research's just completed analysis of this new software category.
Spreadsheet Management applications are ones that monitor and manage issues of errors, auditability and control that inevitably occur when corporations use stand-alone spreadsheets in collaborative, repetitive, enterprise-wide tasks. Spreadsheets have been an essential business tool for more than a quarter-century, but their use means that companies have had to grapple with too many undiscovered mistakes and too few controls, particularly for sensitive or business-critical spreadsheets. Errors in spreadsheets have led to large operating losses and even earnings restatements by public companies. Existing spreadsheet software does not offer a practical way to audit and manage the thousands of these most important spreadsheets. Over the past two years, numerous companies have introduced products that address these shortcomings.
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