Microsoft Excel is a 21st century spread sheet application that has gained acceptance in almost all business organizations around the world, this application that started its life in the 80s and has become an Icon in the world of business. Excel has become so important that some businesses will not be able to operate if their Microsoft Excel application has issues.
The aim of this article is to portray the importance and benefits of being able to use Excel spreadsheets properly. Some of the important features Excel can offer are listed below along with their application in some business environments
Job Scheduling – Microsoft Excel has made the task of supervisors and managers easy. This is due to the fact that it presents to them unique features, these features make it easy for jobs to be scheduled for subordinates. Some times, supervisors can use colour to differentiate each persons shift, jobs they perform and it can even track their progress. With this application, a proper control mechanism can be implemented.
Tracking product sales – Excel spreadsheets make it easy for small and medium business owners to track their product sales. With this software they can easily analyse their sales activities and determine their performance. This application will enable business owners to ascertain their business progress over time as well as identifying the sales trend in the market. With all this knowledge, they can design a plan that is tailored towards addressing trends in the market and improving general sales performance.
Basic financial Accounting – In the present day, most small and medium business owners make use of Microsoft Excel to track their financial transactions. They use it to record the day to day financial activities of their businesses including tracking of cash inflow and outflow. This will enable business owners and entrepreneurs to analyse the financial information and make an objective decision based on the information available. Also when financial data are imputed on to Microsoft Excel spreadsheets, it enables the business owner to have insight into their financial status at a glance.
Storing Customer’s Data – Most organizations around the world today use Microsoft Excel spreadsheet for the purpose of saving the contact information of their clients, once saved information can be used as a customer data base. It will store a comprehensive site list of all the business’s customers and their contact details. This system is very reliable and trustworthy because even if the application is updated, it’s contents are not easily affected.
Accurately tracking of Return on investment – Excel spreadsheets enable business owners to accurately track their return on investment. It gives business owners a clear analytical view of the amount they have invested into the business and how much profit they have earned over time. When the business owner keeps complete track of sales and financial activities, Excel will enable the business owner to accurately predict the period of time it will take for the business to break even.
Microsoft Excel has become indispensable in the present day business environment. It has become a primary tool for most business organisations, they use it for carrying out a diverse range functions. A working knowledge of excel is becoming an employment prerequisite for most office professionals, Excel courses may help you to gain strong Excel skills these courses could bring about promotion and leadership opportunities.
This guest post was written and supplied on behalf of Souters, provider of business training and CPD accredited Excel courses. All image attachments are author owned.