As the most dominant spreadsheet program, excel has become the most dominant computer office application in workplaces all over the world. Excel has gone on to be one of the most powerful tool that can be used in doing basic calculations, accounting work, data analysis, charting and many other uses that has made it a very crucial part of business world over. Since it has very many advantages, several factors has made excel a vital tool in running businesses organizations and institutions.
Among the first usage of excel that has made it one of the most important tool in running businesses organizations and institutions is the ability to perform accounting work. This is due to the fact that Excel can add, subtract, multiply, divide and perform advanced functions that can be used to do accounting work, making business organizations and other institutions rely most on this part of the spreadsheet program. Other than performing calculations, financial reports can also be produced in excel, hence meeting the accounting needs of companies and organizations that utilize it for these functions that make accounting work more easier.
Another usage of excel that has made it one of the most important tool in running businesses organizations and institutions is the ability to perform management work. The fact that business owners and companies are using Excel application to set business goals, business budgets, account management, income and expenses variations and other data management work has made daily operations run faster and more efficiently. To achieve this, using features such as filters, charts, conditional formatting, pivot tables, logical and financial formulas that are available in excel help in running management work in the offices.
Performing product and human management work is another usage of excel that has made it one of the most important tool in running businesses organizations and institutions. The fact that financial analysis using spreadsheets and setting sales targets in excel can help manage products by categorizing and summarizing customer and sales data, including the management of employee data and information that includes payrolls and expenses that can be controlled using excel.
The other usage of excel that has made it one of the most important tool in running businesses organizations and institutions is the ability to do scheduling programs, goal planning and daily progress work. The fact that it is essential for companies to set goals makes excel helps businesses to keep you focused on their goals by creating worksheets with scheduled logs that will help in monitoring set goals and monitor the daily progress of the goals that has been set. This can be done by using calendars to create a daily schedule for employees that will ensure that the company can track the daily progress of its work by creating tables with Dates, Time, Task, Duration, and status according to the demands of the company or business.