It’s a new year and time to leverage your business for its best year yet! Microsoft Excel is an amazingly versatile tool that can be helpful for a variety of business processes. We’re going to review ten of the best ways you can use Excel in your business in 2022.
1. Data Entry and Storage
Excel is a great solution for your data entry and storage needs. Worksheets can store tons of data, and allow data to be easily input and viewed. One usage case for data entry and storage is managing employee work shift lists.
2. Collection and Verification of Business Data
Excel is a great tool to track and store data. It’s a quick process to clean up duplicates, organize data in a particular order, and otherwise access data for reporting.
3. Accounting and Budgeting
Did you know Excel comes with accounting and budgeting templates? The built-in calculating and formula features help you make sense of your company’s data. Since Excel is used widely in companies in a variety of industries, you can be confident that even if you need to share your accounting spreadsheets externally, they will be easily understood.
4. Administrative and Managerial Duties
Excel can help your business to create and outline business procedures. This will help to optimize your business processes and help your company get organized. Excel allows users to create flow charts and otherwise organize processes and duties.
Your business can also use Excel as a scheduling resource for managing employee shifts, availability, vacation requests, and more. It can also be used to track which spaces in the company are in use during certain times, such as conference rooms.
6. Return on Investment
Not only does Excel allow your business to track sales, but it also allows you to see your return on investment. You can track specific advertising and marketing campaign spends as well as leads and sales, to determine the total ROI.
7. Stock & Inventory Management Using a Spreadsheet
Excel can also be used for supply chain management and stock management. It’s a great alternative to more expensive alternatives. You can track SKU, barcodes,stock levels, re-order levels, location, bin numbers, and more. Excel allows you to keep your inventory accurate and up to date.
8. Sales Reporting In Excel
Excel spreadsheets are great for tracking sales and communicating and tracking sales performance among your team. You can create a custom dashboard, automated reports, and integrate with other business systems to have all your sales insights ready at a glance.
9. Invoice Creation & Tracking In Excel
We can also use Excel to track order processing, with everything from invoice value to customer details. This type of report can be easily integrated into other sheets or dashboards to give a complete view of your business at every step of the way.
10. Build Excel Dashboards
Excel dashboards provide a business snapshot of current performance so you can make decisions to help your company grow. Dashboards allow your company to visualize trends and easily capture data. Some important considerations for your dashboard are the method and frequency of data importation, data management, and linking, and format/layout of your dashboard. Here at ExcelHelp, we are experts in creating custom business dashboards.
In conclusion, your business can leverage Excel in a variety of ways this year. Here at Excel Help, we can help you implement any of these solutions, no matter how big or small your business, or how complicated your needs are. Let’s set up a free consultation to see how we can help.