Software Tips

Microsoft Excel: An Integral Part of Business

By November 19, 2019 No Comments

excelDo you use Microsoft excel in your business? Since its release in 1985, Excel has become one of the most important software programs in the workplace. About 750 million people worldwide use Excel in their business.

You may feel overwhelmed with the day-to-day operations of your business. The last thing you want right now is to try and learn a new software program. This is where an Excel consultant comes into play.

Continue reading this article to learn how an Excel consultant can help your company.

How Can Your Business Benefit from Using Excel?

You may wonder what Excel can do for your business. It can increase productivity and efficiency leading to an increased return on investment. Excel can provide you the data needed to make informed decisions for growing your company.

Increased Efficiency

Excel’s basic purpose is to make storage and retrieval of data quick and easy. The software organises your data and allows data manipulation to glean needed information.

The Excel consultant works to develop an understanding of your processes. They identify the data collected and the outcome measures needed. This allows them to develop data entry tables and formulas to generate your results.

These experts can configure spreadsheets so that many users have access at the same time. This increases inter- and intra-department communication. It also decreases redundancy.

Fact-Checking

Erroneous calculations can cause devastating results for companies. Incorporating Excel into your business helps decrease possible errors.

The Excel consultant will discuss what outcome measures are important for your work. Spreadsheets are then created that automatically run mathematical calculations and generate reports. This reduces the risk of human error.

Central and Uniform Data Collection

Establishing uniform processes across your organization improves employee satisfaction and productivity. Customer satisfaction is also increased. Customers expect to have the same interaction with different members of your organization.

Excel provides many functions that assist with daily business finance and math processes. You can also collect customer information into a shared spreadsheet. This ensures that the same information is collected in the same manner.

The size of the spreadsheets is relatively infinite. This allows you to have many sections for data collection on one sheet.

Analyse Trends

Collecting data is great, but it needs to provide you with meaningful information. Excel allows you to do this. Your Excel consultant can set up automatic calculations and reports that provide key business information.

Examine trending, total sales, time spent on projects, and more. You can then spend your time on process reviews and improvement. Not on creating reports.

Develop Effective Presentations

All businesses and individual departments must show their work and successes to superiors. No one, such as department managers or company boards should wonder what is going on in the business. This means that multiple data points need to be presented in a meaningful manner.

Excel consultants can develop charts, graphs, and reports that summarise the data. This allows stakeholders to see trends and interpret workflow and progress.

This increases the respect and confidence of superiors. It also provides meaningful data for developing future business decisions.

Ability to Conform to Different Conditions

Often, calculations or processes in Excel need to be flexible based on the date. Excel has the capability to allow for conditional formatting. This tool adjusts data formatting based on user-defined rules.

Once the Excel consultant creates the rules, Excel manipulates the data as instructed. This allows users to concentrate on the data output. It eliminates the need for time spent formatting and re-formatting data.

Accounting Needs

Excel can accomplish your accounting requirements. This allows you to use one software program to meet all your business needs. By using one program, you increase the automated portability of data throughout your system.

Accounting processes such as budget plans, sales and revenue forecasts, and financial reports are available in Excel. You can also track expenses and create loan calculators.

Track Inventory

Businesses that keep an inventory, know the headache of maintaining accurate records. For businesses with extremely large inventories, this process may seem impossible. Yet you must report inventory values to renew your business license.

Excel can manage this difficult task. Spreadsheets and formulas help businesses to stay on top of their current inventory. Processes allow employees to enter new inventory when received.

When products are sold, the inventory system deletes these items. This allows you to maintain a real-time inventory.

Develop Business Plans

All businesses need to create business plans and set professional goals. These goals serve as a road map to keep your operations moving in a positive direction. Excel includes tools to create worksheets, logs, and planning documents.

Project Management and Time Logs

Being organised is key if your company manages and develops projects for your customers. This is especially true if your revenue to based on the time spent developing the project.

Your Excel consultant can develop a project management tool. This allows employees to define the order specifications. They can then describe the tasks needed to complete the order.

Excel processes can track when an employee logs on to work on the project. It can also track the amount of time spent working on the project.

Once the project is completed, you can provide a detailed invoice to the customer. The invoice can describe the steps taken in completing their orders. It can also provide the exact amount of time spent on each task.

This tool also allows you to evaluate your task efficiency and employee productivity.

Are You Interested in Using Excel to Enhance Business Processes?

Incorporating the use of Excel in your business can bring your operations to a new level. Working with an Excel consultant allows the development of tools to optimise your productivity. No need to spend time learning through trial and error.

AM 18 Consultancy’s goal is to help companies extract meaningful information from their data. We work to improve customer service by increasing your company’s productivity and services. AM 18 will help you make more informed decisions based on your data.

Contact us today to learn more about our services.

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