By Ruoro Kairu
In 1985, Microsoft Excel was released. Today, it has transformed into one of the most resourceful computer programs around the workplace and beyond. Whether you’re organizing your sales lists, budgeting for the company, planning a social gathering, Excel is the go-to program. Over time, it has become the most important programs in business from all over the world.
How can you use Microsoft Excel to improve performance and operation around your business in various departments?
1. Finance and Accounting
If you take a walk through the accounting or finance departments of any organization, you’ll likely be met by a number of screens displaying Excel spreadsheets. In these departments, they use Excel to outline financial results, plan for presentations, create and analyze the company’s budget, and create forecasts based on the current and previous data.
The accounting and financial departments rely heavily on Excel.
Advanced formulas in Microsoft Excel can perform manual processes that would ordinarily take weeks or months to complete in minutes.
Quick Read>>> 5 Advanced Excel Tricks You’ll Thank Us For Sharing
To learn more about these formulas, take up our Advanced Excel Course. Most tech-savvy professionals and business owners can add, subtract, divide, and multiply with excel. However, there is so much more to learn –IF functionalities, pivot tables, INDEX-MATCH-MATCH, VLOOKUP, and others. You can get to learn these advanced formulas in the Excel Course.
2. Marketing and Product Managers
In the marketing department, you can use spreadsheets to list customers and sales targets. This will help you create a database that will improve your marketing strategies, and future sales plans based on the previous and current data.
Using a pivot table, you can easily summarize the customer and sales data in categories. This can be done simply by drag-and-drop.
Whereas this information is vital to product managers and marketers, it can also be utilized by all parts of the business.
3. Human Resources
Human resource managers and officers use programs like QuickBooks, Oracle, and Wingu to manage Payroll and employee information. This information can be exported or imported to Excel and allow more people to view it as not everyone has access to the former programs. With Excel, you can also discover trends, summarize expenses and hours by pay period, month, or year. You can also use this data to understand how the company’s workforce is spread out by pay level and function.
At the workplace, you can basically use Excel for myriad functionalities. These include;
- While planning a team excursion, you can use Excel to keep track of costs and the RSVP list.
- When creating a budget for small items, you can list expense categories in a spreadsheet, and update it manually
- You can also calculate customer discounts based on monthly purchase and product volume
- You can summarize customer revenue by product
- When planning your editorial calendar for a website, you can list out the dates and topics on a spreadsheet
Excel is one of the programs that are timeless. It will always be in need so long as companies need to incorporate their data in ways that can benefit and grow them.
As an individual, having a clear concise knowledge of how advanced excel works will give you an upper hand at the workplace. You will also be better placed to get promotions and land better jobs –despite the department you’re in.
Enroll today in our Advanced Excel Course and increase your knowledge.