The silent problem: what are workarounds and why do they persist?
Workarounds are the unofficial, quick fixes—think ad‑hoc spreadsheets, macros, and manual scripts—that keep complex financial processes running when core systems fall
short. They thrive because:
Legacy technology can’t keep up. Ageing core platforms struggle to meet today’s data, speed and regulatory demands.
Compliance pressure is relentless. New rules arrive faster than change‑requests can be approved.
Teams are stretched thin. Operations staff solve issues on the fly to hit reporting deadlines.
IT capacity is scarce. Internal tech teams often lack the bandwidth—or specialised financial domain knowledge—to deliver robust fixes quickly, so business users “patchand pray” instead.
Because these fixes live in email threads and personal drives, they stay invisible to management, and the risks compound quietly.
The hidden costs: why workarounds are more dangerous than they seem
Every manual shortcut introduces operational risk: the chance that failed processes, people or systems trigger a loss or compliance breach. Over time, that risk:
Elevates error probability. A single fat‑finger entry can ripple through valuations, client reports and audits.
Consumes valuable capacity. Skilled analysts spend hours wrestling CSVs instead of analysing portfolios.
Creates key‑person dependencies. When spreadsheet authors leave, critical know‑how walks out the door.
Blocks scalability. Layer upon layer of tactical code makes future integrations painfully slow.
The result? Higher cost of control, delayed decisions and, in worst cases, financial or reputational damage.
What you can do: make workarounds visible and fix the root cause
✓ Start by identifying and tracking where these hidden fixes occur. Measure their frequency, effort and impact.
✓ Prioritise high‑risk areas. Target processes that touch external reporting, cash movements or regulatory submissions first.
✓ Partner with IT experts who understand your financial domain to design compliant, automated, and scalable solutions.
✓ Shift culture from “quick fixes” to sustainable process improvements. Encourage teams to log issues early, reward eliminating a workaround, and bake root‑cause
analysis into sprint reviews.
With the right focus, today’s “quick fix” can become tomorrow’s competitive advantage, freeing teams to scale safely and spend time on insight, instead of firefighting.
Wondering how many workarounds are hiding in your own operation?