excel on PC

The importance of Excel in Business 2019

It is commonplace for the vast majority of office workers to interact with Excel daily. With over one billion Microsoft office users worldwide, Excel has become an integral part of our working lives. This incredible platform has many uses beyond that of the traditional spreadsheet. The uses for Excel are ever growing and developing as Microsoft technologies advance. The most profitable and organized businesses across the world see the importance of Excel and its value to their company’s success.

First released in the early 1980s, Excel’s first version-enabled users to step away from manual programming of macros and move towards automated Excel processes. The application has developed vastly over the years to support graphs, charts, and histograms which can either be embedded in the spreadsheets or added as a stand-alone article.

Microsoft Excel is used for a variety of purposes worldwide. Each organisation uses the programme for different purposes such as tracking sales trends, recording competitor analysis or generating graphs to showcase sales and targets. The reason for MS Excel’s growth in popularity is its user-friendly simple to use interface; this interface enables users to take control and perform tasks quickly and efficiently.

Amplified Efficiency

Having a skilled workforce capable of using Excel efficiently enables you to put the focus on other tasks within the company. Comprehending and understanding Excel on an advanced level helps companies to complete tasks with enhanced attention to detail and a higher level of accuracy compared to untrained teams. Trained staff can solve issues far quicker, source required information immediately and move team projects along swiftly due to their increased level of expertise.

finance report in excel

Focus on figures

The founding reason for Excel was its ability to simplify working with numbers. Excel has significantly reduced the tedious task of analysing large figures by compressing vast amounts of data into information we can comprehend. Excel saves you valuable time with in-built aids such as customising a calculator within the programme for your commonly-used formulas.

Built for Accounting

Accountants and those working with accounts have an incredibly important role within any business; using Excel can aid these staff members to forecast future figures, plan company budgets, track expenses and so much more. Over 89% of companies are utilising Excel within their businesses due to its useful and easy to navigate templates. Accountants across the globe are using Excel to make huge business decisions based upon findings while using the software.

In the past accounting could be a tedious process with manual processes taking weeks or months to complete. Many of the same processes today can be completed in minutes if staff can use Excel correctly. We offer a multitude of training option regarding Excel which can be found here to help upskill your team. 

Excel In Business – A necessary marketing tool

Excel is incredibly important for those wishing to make the most of their marketing team. A marketing department may not be the first area you think of when thinking of figures and finances however the marketing department also has an important role to play. While the accountants may be heavily focused on the financial analysis and figures the marketing department has a requirement to focus on topics such as competitor analysis, stock tracking, budget planning, sponsorship logging etc.

Pivot tables and graphs are a fundamental part of a marketing department particularly in larger companies that have a need to overview a multitude of different group departments. Pivot tables help to summarise customer or sales figures and aid in important decision making. Many companies understand that using Excel to manage their sales force can help to plan future business manoeuvres based upon fact previously gathered.

charts and graphs

The possibilities are endless

From planning a large corporate event to keeping track of the Summer party, Excel is an almost limitless application due to its versatility within any work space. You can use Excel for just about anything within your company. Some examples include but are not limited to: Tracking an RSVP list, organising a schedule, tracking budgets, ease strain on IT department, time logs, checklists etc.

Excel is here to stay and is a vital programme for any business wishing to further their company in 2019 and into the future. Using Excel within your company is both wise for you as an employer as your team will be more proficient with their time and they will also have an aid to help them with virtually any task within the company.

Being knowledgeable with Excel is vital for many office-based roles today. Staff who wish to further their own careers also understand the importance of gaining stronger Excel skills as they can further your career and also gain you valuable opportunities while at work. Magic happens when users can navigate Excel correctly. There is an abundance of opportunities within Excel waiting to be discovered by you and your team today.

Invest in your company’s future; The Excel Experts can provide comprehensive Excel support and training services internationally throughout 2019.