I recently did some research to understand where most companies stand with the number of spreadsheet documents used during the financial close and other critical business analyses — and what I found was surprising.

Here are the typical benchmarks by firm size (links attached):

https://lnkd.in/eFM_WNn4

• Small to Mid-sized Companies: 10 to 50 spreadsheets
• Mid-sized to Large Enterprises: 50 to 200 spreadsheets
• Global Enterprises with Complex Reporting Needs: 200+ spreadsheets

At first, I was surprised by these numbers. But after thinking about it — I really shouldn't have been. Even in companies with established SaaS tools like FP&A systems and ERPs, spreadsheets are still everywhere. These "shadow fleets" are used for support schedules, individual analysis, reconciliations, segment forecast schedules, and more.

This fragmented environment creates major visibility challenges, especially when multiple teams are collaborating. And with that comes a serious risk: data integrity issues.

I'm sure many finance teams have faced these common pain points:

Version Confusion: Teams unknowingly work on outdated files, causing misalignment

Broken Formulas: Hidden errors propagate across linked sheets, distorting financial insights

Unauthorized Changes: Without clear audit trails, tracking modifications becomes difficult

Delayed Decision-Making: Time is wasted reconciling discrepancies instead of analyzing data

SOX Compliance Issues: Deficiencies created by no clear processes that leads to reporting errors

For organizations managing hundreds of interconnected spreadsheets, these risks compound — leading to reporting errors, compliance issues, and costly delays.

This is exactly why David and I built Rockhopper Inc. Our goal is to help finance teams audit, understand, and reduce errors to zero. We envision Rockhopper as the layer of trust and accuracy between enterprise tools and the workflows that finance teams rely on every day.

Curious to see how we’re doing it — talk to us today! Your spreadsheet sanity starts here!