With many businesses searching for better solutions and answers to their problems, there is often someone telling you “You need to forget about Excel and use something more sophisticated”.
We do acknowledge that this 35 year old product is not the only or most fitting solution for all data projects, however, Excel remains one of the most reliable and accessible tools for analytics around the world, with over 750 million users.
So why is it still so relevant, and why is training still in-demand?
Here are 4 reasons why working in Excel works.
Don’t fix what isn’t broken
We have seen it all before. A medium size business decides that Excel is no longer sophisticated enough for their needs, and so they try to implement a new software.
Initially everyone is enthusiastic to learn the new program. But within a few weeks, individuals, often starting in the accounting department are finding themselves opening Excel every now and then. This turns into daily and next thing you know, the whole team is deriving the data from the new software into Excel.
The bottom line is, Excel is a tool we know and love. The familiarity of use and the exceptional functionality means that we can get the answers we need, quickly.
Get the best of both worlds
Luckily there are tools which allow us to use both new programs in conjunction with Excel such as Alchemex’s Sage Intelligence Reporting and Velixo Reports.
For example, a small to medium size business may decide they need to implement an ERP system, in order to collect real time data and information across multiple business functions. So they decide to use MYOB Advanced.
With multiple editions, such as MYOB Advanced Construction Edition, companies from all sectors can reap the benefits of an ERP system. With an ERP system, businesses get a 360 degree view of their activity — sales, customer service, budgeting, planning, payroll, production, distribution, HR and more — they’re all integrated and data is shared across all employees.
But…. there is one problem. Your team still loves to use Excel when working with data.
In this instance, your company could use tools like Velixo Reports or Sage Intelligence Reporting. With either of these impressive tools, you can still use your ERP system to gather all of the live data, and once collated, these tools will kick into gear and send that live data straight into Excel.
This means you can build financial, project, and other business reports in Excel with live ERP data in just a few minutes. Businesses love both Sage Intelligence Reporting and Velixo because they can get the answers they need, from a product they love, and have peace of mind knowing all the data is live and accurate.
Not just about Numbers
A successful Excel spreadsheet will organize raw data into a readable format that makes it easier to extract actionable insights. However, whilst Excel can work magic with numerical data, it also helps users from many different industries collect, organize and analyze all types of data.
No matter what industry you’re in, or even for daily life purposes, an Excel spreadsheet has something for everyone. Here are some examples:
- Project planning
- Create revenue growth models for new products based on new customer forecasts.
- Automate Jobs with VBA Macros.
- Marketing and editorial content planning
- PNL Sheets
- Data Entry and Lists.
- Create a Dashboard and Reports.
- Calculate and analyze customer discounts, purchases, inventory, income, expenses… you name it!
Collaborative and Accessible
Microsoft Excel will no doubt deliver an exceptional return on investment. Compared to a lot of software tools out there, a Microsoft package is very cheap, no matter how big or small your company is.
You can also download Microsoft’s Office mobile app, which was released in 2020 and is available for iPhone or Android devices. it combines Word, Excel and PowerPoint in one app and the part is, it’s free.
With the newest versions of Excel, you can use the co-authoring function, which is similar to google sheets. It allows numerous people to work on a spreadsheet at once and the changes are made and saved instantaneously. Find out more about co-authoring here.
Microsoft Excel Training
Excel is easy to pick up and use, and even easier when you have a bit of training to learn shortcuts, tips and tricks.
Our team at Alchemex has been providing comprehensive Excel training for over 15 years. The courses aim to teach the exceptional functionality in a simple and digestible way, teaching you the things you need to know.
Our training can be offered 100% online and we also offer onsite training on request throughout Africa, Australia and New Zealand.