Back when I was working at Microsoft I was joking that the company was been run on Mail and Spreadsheets. I guess I was not THAT wrong and I guess a lot of companies are the same. Key data still resides in any kind of SAP (or the like) installation and then the data is exported into Excel and a lot of the manipulation and analysis is taking place there. And these spreadsheets grow and grow and grow. And new formulas and new macros are added and this is all done outside of any development lifecycle, without documentation, without version control and without classification and clear protection of the data. It is actually a fairly scary scenario if you think that the only person you have who knows a given spreadsheet would leave tomorrow.
Probably a risk which should be taken much more serious. Honestly, I successfully ignored this risk until I read this article Spreadsheet Risk Worries Three-Quarters of Accountants
What about you?