Dilbert and Why to Not Budget using Excel

For many smaller organizations with simple budgeting/forecasting needs, Excel works just fine.  However, as Dilbert points out below, there are certainly drawbacks to using Excel:

Source: http://dilbert.com/strip/2011-06-02

For organizations with more complicating needs, the value of a using a dedicated CPM solution for budgeting/forecasting and financial/management reporting are myriad, including:
- Simplify and better control the budgeting process
- Reduced administration of the budgeting cycle
- Increased collaboration
- Real time version control
- Mitigate speadsheet ‘mis-calculations’ and ‘overrides’
- Better manage security
- Historical tracking/audit of changes
- Integrated financial/management reporting solution to facilitate variance reporting
- Simply reforecasting administration