9 Excellent Benefits of MS-Excel to Enhance Your Business
Sahib is an experienced writer in the field of technology and software. He has written various helpful articles that have helped users learn about complex software and its usage. He is also an expert in the Microsoft office suite.
Microsoft Excel is one of the most useful and widely used tools in any workplace. Since its inception in 1985, this software has been an integral part of every personal computer. You cannot imagine an office that does not use Excel. This software helps businesses process and organize large amounts of data daily. It even helps perform calculations and present meaningful data for research purposes. These are just some of the benefits of MS-Excel.
Many young professionals who are starting their corporate journey can benefit from learning the basics of Excel. It helps give them an edge in the workplace. Some take up online courses to learn excel. Others are trained in their offices by their seniors. Gantt chart excel template is a also tool that can be used by the content writer to create a Gantt chart. It allows the writer to visually track the progress of tasks and also helps in creating a more organized workflow.
Several online resources can help you. If you are a student taking an online course, you can get assignment help quickly. If you are a working professional looking to impress your bosses, you can learn advanced excel tricks.
Even though you know some of the benefits of MS-Excel, you may not know just how much. This article will detail how many ways this fantastic software is helping businesses.
What are the Many Benefits of MS-Excel for Your Business?
Helps with Easy Calculations
One of the essential benefits of MS-Excel is performing calculations. Now only calculations, but mass calculations. Excel makes it easier for you to add data in bulk in your worksheets and then perform various analyses on it.
There are so many formulas and shortcuts used on entire rows or columns. These formulas can perform essential addition, subtraction, multiplication, and division in seconds. It saves you precious time. The time that you spend on important matters that need human intelligence.
Better Data Analysis
MS-Excel has all the tools for complete data analysis. The entire purpose of keeping track of enormous amounts of data is to analyze it. After analyzing data, you need to come up with intelligent insights that can help shape your business model.
Excel helps you add a pivot table to your data and develop a good summary. This summary can present a clear picture of what the data means for your business. You can do things like ranking columns, grouping dates, adding conditional formatting, and more with pivot tables.
Improved Workforce Management
One of the critical benefits of MS-Excel is for management to manage their workforce better. Managers swear by Excel as the only definitive tool to help with this endeavor. Managers can keep track of their employees shifts, attendance, tasks assigned to them, and more.
The scheduling feature in Excel helps designate tasks and responsibilities. Tasks can be color-coded based on urgency or the person assigned. Regular updates on projects are through this system of color-coding to update progress.
Incorporate Charts for Better Data Presentation
Compiling data is excellent. However, presenting that data in visually appealing ways is better. Many people respond better to visually presented data rather than rows and columns. MS-Excel helps in this regard too.
You can convert your data into various charts using Excel. You can go into the “insert” tab of excel and choose the type of chart that suits your needs. You can take the data you already have and insert it into the chart with one click.
There is also an option called “recommended charts.” Here, excel shows you options of all possible types of charts that it recommends for your data. You can choose from any of them. An advanced Excel user can also create advanced charts if the default ones do not suit your purpose.
You Can Add Coding for Easy Automation
Visual Basic for Applications is a language used for Microsoft Office. Using this language, you can add various automation features in Excel for different tasks. The primary job of changing the font to italics to more complex tasks, including data filters.
Various online courses teach this language. Its knowledge can also give Excel assignment help to students working on complex Excel tasks.
Helpful Tool for HR
The benefits of MS-Excel are not just limited to the operations department. The human resources department can also get a great deal of help from Excel. Using excel, HR professionals can keep track of employee databases. They can utilize it in creating payroll, tracking expenses, reimbursements, recording leaves, planning budgets for office activities, and more.
Excel also helps HR compile data from various tools into one place. It makes for easy management of all the HR responsibilities and tasks.
Aides in Accounting
Just like MS Excel helps the HR department, the benefits of MS Excel can also exist in the accounting department. There are various functions of accounting where Excel comes in handy. We already know that you can make such basic mathematical calculations with Excel. Several advanced features can help in accounting too.
Most small-medium businesses use Excel sheets as ledgers to enter expenses and income in various columns. Accountants can use Excel to create charts to present their findings and financial reports to the management.
Easily Print Important Reports
We all want to have a paperless work environment. It is better for the planet as it saves trees. Also, with so many online methods of communication and digital formats of presenting reports, paper reports seem obsolete.
However, there are times when printing out a hard copy of a report is necessary. Excel makes it easier to print reports and add customizations to them before printing. These customizations can include – margins, orientation, paper size, etc.
Customizations Using Various Templates
Microsoft Excel offers several free templates to users. These templates can be easily downloaded. They are used for generating attractive reports. It is one of the most popular features of Excel.
Some of the popular templates you can use in Excel are the Gant charts template, Mortgage calculator template, Money management template, Calendar template, and many more.
Microsoft Excel has been a software helping businesses with all the above-given tasks and many more for decades. This software has been an integral part of any organization’s smooth working. By reading these benefits of MS-Excel for businesses, we hope that you will begin to brush up on your Excel skills for a successful corporate journey.