Software engineers really hate spreadsheets. Not a week passes by at work without hearing "we really need to stop doing all of this stuff in Excel". The alternative is, of course, writing a "proper" software system, with version control, automated tests, and a repeatable deployment pipeline.
These are all great things to have, but they are all mitigations for technical risks.
We can define technical risk as those risks that are applicable to all systems, no matter the domain. In contrast, we can look at functional risks: risks that are domain-specific. In other words, the risk that the system does not fulfill its intended task, because it does the wrong thing.
This is a big risk! Common sentiment amongst software developers is that it's not hard to figure out how to build a system, it's hard to figure out what it needs to do. It's more or less why agile was invented, why product-minded engineers are sought after.
And those spreadsheets? They are built by the users themselves, often in response to a direct need. The output is checked closely, because the results matter. They carry very little functional risk, and that's (objectively!) a great advantage. They ain't half-bad!
home