Due to its dominance, excel in the most important spreadsheet program in offices all over the world. This is due to the fact that it has become such a powerful tool that can be used in performing basic calculations, doing accounting work, data analysis, charting and many other uses that has made it very crucial in business circles worldwide. Due to its many advantages, the following usages 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. After performing calculations, financial reports can also be generated 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. This is down to 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, making daily operations run faster and more efficiently. This is normally achieved by using features such as filters, charts, conditional formatting, pivot tables, logical and financial formulas that are available in excel.
By performing product and human resource management work, excel has become 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.
By scheduling programs, goal planning and daily progress work, excel has become one of the most important tool in running businesses organizations and institutions. When it is essential for companies to set goals, excel helps businesses to stay focused on their goals by creating worksheets with scheduled logs that helps them monitor set goals and determine the daily progress of the goals that has been set. By using calendars, a daily schedule for employees can be made for the company to track the daily progress through creating tables with Dates, Time, Task, Duration, and status according to the demands of the company or business.