Advantages of Using Spreadsheets for Business
Spreadsheets are a go-to tool for many teams and businesses. You might be using one right now. Is it the greatest tool for storing, organizing, displaying your company’s data and free excel download? It’s past time we examined the benefits and drawbacks of spreadsheets.
Spreadsheets have several advantages, including that they are inexpensive and that most people are acquainted with them. However, they can be difficult to use and not natively interface with marketing, sales, and service systems.
This post will discuss the benefits of utilizing spreadsheets to maintain customer information, manage projects, and alter data.
1. Spreadsheets are completely free.
Spreadsheet software is commonly accessible and typically free for most enterprises. Most users with an internet connection can view a spreadsheet. WPS Office, for example, offers easy interfaces as well as sophisticated, diverse functionality for spreadsheet processing, such as real-time collaboration.
2. Spreadsheets require no training.
Whether you’ve used a spreadsheet to manage your finances or spent endless hours constructing pivot tables for past employment, you’ve probably had some familiarity with spreadsheets. Aside from creating complex formulas, entering data in spreadsheets is easy and does not take much training to master. This makes spreadsheets a viable alternative for rapidly expanding teams and doesn’t have the time to educate new personnel to utilize complex software.
3. Spreadsheets can be customized.
Spreadsheets are extremely customizable, especially if you understand how to use their plethora of formulae and functions. A spreadsheet may be used to construct any document, including a calendar.
They might be intimidating to use since they are so configurable. You have no idea where to start unless there is a spreadsheet template for what you want to achieve. If you want to utilize spreadsheets for business, be sure that one of your team members understands how to adapt a spreadsheet to expedite a business process.
4. Spreadsheets can be more collaborative than other tools.
Nowadays, most corporate products include some form of collaboration. Trello, for example, enables teams to manage projects through a single interface. However, no tool delivers the same level of transparency as a spreadsheet.
Spreadsheets may be freely modified by everyone on the team, which increases cooperation. Other technologies may restrict some permissions based on team members’ titles or administrative positions, but spreadsheets do not.
5. Data manipulation and analysis are simple.
Spreadsheets make data manipulation simple. Datasets may be added, subtracted, divided, and multiplied; pivot tables can be created; duplicates can be removed; data from other tabs can be retrieved, and all rows and columns can be searched for a certain word or parameter.
However, there is a drawback to this. A spreadsheet can easily be broken if you unintentionally remove data that was part of a formula or computation. It’s also simple to mistakenly move information from one cell to another, and by the time you realize it, it may be too late to undo it. So you’d have to cross your fingers and hope you recall the information.
6. Spreadsheets can be integrated with other tools.
T You can automatically transfer spreadsheet data into your CRM or project management software using a technology like Zapier or Integromat, as long as the spreadsheet’s columns match the input fields on the program. Expect major integration problems if there is a mismatch.
7. Spreadsheets are quick and simple to include in a process.
Whereas a specialized system, such as sales software, may require time for people to adapt, spreadsheets do not. Once you’ve created a spreadsheet and distributed it to team members, it’s simple to incorporate into the team’s workflow – regardless of team size.
8. Spreadsheets are excellent instruments for creating financial paperwork.
There is no better tool for preparing financial records such as balance sheets, corporate budgets, and cash flow statements than a spreadsheet. It’s as simple as putting in the figures and producing a fresh Excel statement every quarter whenever you’re ready to export the income and asset data from your bookkeeping program.