The number of cases of spreadsheet errors having a disastrous effect on business is continuing to grow, it has been claimed.

EASA software cites the case of the C&C Group, who recently had to admit that a spreadsheet error had them believe that revenues were up five per cent, when they were actually down 15 per cent.

This admission wiped 15 per cent off the company's share price, EASA claims.

In order to help IT contractors with this growing problem, EASA has produced a new solution, which it claims is simple and effective and takes away the possibility of making errors.

"What EASA does is to define a master version of the spreadsheet and hold it centrally, making it available to users via a browser, and not as an attachment to an email or a download from a server," said EASA's director of business development Mel Glass.

EASA specialises in providing software solutions which make existing applications on the system easier to use.