How Powerful is Microsoft Excel If Used Correctly?

Microsoft Excel is hugely under-utilised by organisations who are unaware of its potential capability. Formulas, macros and pivot tables may seem unfathomable to some, but for others help to speed up laborious, labour intensive data handling tasks.

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Nevertheless the above important functions, which enable more efficient data comparison, analysis and reporting still only scratch the surface of how you can harness the power of your organisational data to prioritise work flows, anticipate future trends in your sector and allocate resources accordingly. Excel experts will readily tell you that with some cost-effective interventions, your data could be working harder to make your teams more efficient and productive, with ultimate benefits for your bottom line.

We suggest some food for thought for your IT, HR and Finance Directors to consider, if you are looking to maximise your potential and achieve cost efficiencies and organisational improvements, here are a few of our most popular services.

  1. Automation: It is obvious that automating time-consuming, frequently repeated tasks and mundane data processing could not only maximise your time management, but can have a knock-on effect on staff morale, because they are freed up for more satisfying, strategic or creative tasks, or have time to pursue professional training.

Simple operational functions, such as data entry, or manual data manipulation, can be simplified with the creation of automated systems that speed up your administration and indirectly impact profits.

Excel experts can investigate your business operations to identify areas where Excel use is under-optimised, then identify options for using smart combinations of formulas and something known as ‘VBA’ (Visual Basic Application) to automate a huge number of daily tasks for both casual and regular Excel users, bringing immediate results in time and resource allocation.

 

  1. VBA: VBA is the coding language that underpins Microsoft products, and with the correct knowledge, it can be utilised to create extremely powerful Excel workbooks. VBA can speed up your work processes, reduce file sizes, or even enable Excel to connect to other programs from the MS Office suite, or other software platforms your organisation employs. This means that data transmission can become seamless and integrated and harnessing data less clunky.ExcelShortcutsandMoreTraining

In the hands of proficient users, VBA is a hugely powerful tool that eliminates friction in your internal processes and ensures the best-quality possible outputs, such as comprehensive, systematic monitoring and reporting.  Your senior staff can have greater control over insight into operations quickly, filtering data to shift focus and inform better decision making.

 

VBA goes beyond simple formulas and macros to save countless hours in data management, directly impacting your bottom-line.   When looking to improve efficiency in your organisation, automation and VBA is a great place to start.  While it may sound like a foreign language at first, demonstrations by experts can quickly show how simple tweaks to your data handling can be nothing short of culture changing and profit enhancing.

 

  1. Financial Modelling: With regards to saving money, financial modelling can inform your decision making and help you prepare for the future. Having confidence in smart, streamlined financial models, help you forecast for all your anticipated scenarios and stress-test your projections to ensure you’re ready for whatever’s ahead, leaving less room for ambiguity.  Effectively optimised spreadsheet systems not only help you plan budgets, they can make the difference in securing investment to help you grow.

Automated financial modelling services, such as simple cash flow projections, balance sheets, profit and loss calculations and configurable cash flow statement summaries can be a significant investment in your viability that isn’t cost prohibitive.

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  1. Tools and Apps: Enjoy the power of increased integration and automation across Microsoft Office products, or third-party or custom software, smoothing processes, making efficiencies and making your working environment more enjoyable for mobile teams. Tools and apps reduce errors, save time, and open up new development possibilities that meet your audiences where they are.

Talking to Excel consultants about your ideas can leverage their programming skills to innovate, whilst you retain full intellectual property rights for your ideas, with the right development partner.

 

  1. Reporting: Working practices and people management are increasingly complex in a data driven, consumer led environment, with compliance the minimum expected standards for any organisations seeking longevity.  Reporting is increasingly sophisticated, leveraging ever greater sets of data and presenting hard facts in easily comprehensible formats, for diverse teams to digest is a challenge.

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Why, when strategic imperatives demand optimum outputs with minimal people and time resources, would you want to see wasted time in collating sometimes incorrect and poorly-formatted data that can seem impenetrable and off-putting to teams you are trying to motivate or train?

Excel in the hands of experts can offer management reporting dashboards that give depth of insight, with breadth of data, whilst remaining beautifully simple to use, allowing for analysis at a glance.  Reporting dashboards can be branded to your organisation for sharing with external stakeholders, so you project professionalism and control.

With reduced manual effort that eliminates human error, advanced formatting techniques  provide management systems that staff will find user friendly, and which crucially, helps clarify key metrics, trends and strategic information at a glance.

This is just an overview of what is possible with Excel.  We suggest speaking to an Excel consultant with any particular project development ideas you may have to ensure your solutions are tailored to your needs for the future.