Top 10 Business Benefits of Advanced Microsoft Excel
The quote “Give me six hours to chop down a tree and I will spend the first four sharpening the axe”, attributed to Abraham Lincoln, is very applicable in the business world. It talks about how preparation, using the right tools, and organization are essential in completing a task efficiently. It’s not so much about spending the most time or the most energy powering through a task, it’s about working smart and taking the time to prepare for the job at hand.
What does “sharpening the axe” entail in business? Some say this is akin to “sharpening the mind” and constantly learning new things or improving on previously-learned skills. Others say this is about doing your research or becoming organized before jumping into your to-do list for the day. There are many ways to interpret “sharpening the axe”, but we’d like to focus on a specific business tool: Microsoft Excel.
Sharpening the axe can mean honing your skills and staying updated with technologies and programs that streamline business processes. By mastering advanced Microsoft Excel, you can upgrade your business in cost- and time-effective ways. Here are ten benefits of learning Microsoft Excel on an advanced level:
1. Sharpen existing skillsets.
Skills such as being adept at using Microsoft products are essential for any business in any industry. By deepening your or your employees’ knowledge of Microsoft Excel, you’re improving on existing skills and making it easier to use the software. Knowing Microsoft Excel on an advanced level can also help your team communicate reports and data in easy-to-read formats for upper management.
2. Improve productivity and efficiency.
Boost productivity and efficiency in your office by making you and your employees more confident in and comfortable with using Microsoft Excel. When employees are fully familiar with the software they use, they can produce work more quickly and with fewer mistakes. There will be fewer chances of having to go over the same file or set of data if each person on your team is well-versed in advanced Microsoft Excel. This can speed up approval processes and allow your employees to complete more tasks in less time.
3. Maximize the software.
Having a deeper understanding of the software and knowing its ins and outs can help you interpret business data and manage complex financial accounts better. You will also get your money’s worth if you can use all the features and functions of Microsoft Excel. Advanced Microsoft Excel skills and knowledge can also allow you to do more with one software, reducing the need to spend money and time learning other programs.
4. Become more organized.
Microsoft Excel is an excellent tool for organizing and analyzing data. Knowing how to use the software at an advanced level allows you to find patterns in your data quickly and easily, making it quicker and easier to find solutions to various problems. Excel can also be used as a tracking tool to monitor business processes, task progress, and invoices. Having organized and accurate data from the get-go reduces mistakes and makes work more efficient.
5. Be a valuable member of your team or company.
Having advanced knowledge and skills in any field makes you a valuable asset to the company. Because Excel is so widely used, being fully knowledgeable can mean boosted salaries and better employability for higher positions. Employees with advanced Excel skills can also help out other team members and promote synergy within the company.
6. Easily boost employee knowledge at a relatively low cost.
Hiring and training new employees can be expensive. However, having unskilled employees who aren’t updated with the latest technology or business tools can also cost you a lot of money in the long run. Instead of spending a lot of time and money on training new people, invest in your current employees by sending them to courses on advanced Microsoft Excel and other software. These courses don’t take up more than a couple of weeks and having educated employees will pay off in the future.
7. Ease the load off your IT department.
Did you notice that your IT department is spending a lot of time assisting other employees with programs like Microsoft Excel? This can be common among companies whose employees are not fully knowledgeable about all the features and functions of Excel. This is fine on some occasions but it can take your IT department away from their main tasks. Let your IT team focus on the technical side of your business and help your other employees get the information they need to fully utilize Excel.
8. Retain talent and encourage growth within your company.
Good employees don’t stay in companies that make them feel stagnant or underutilized. Show your employees that you care about their career advancement and overall growth by providing them with opportunities to expand their skillset. Knowing Microsoft Excel on an advanced level can open up doors for promotions and raises within the company, making talent stay long-term.
9. Make work easier and less stressful.
Employees who struggle with Excel will most likely shy away from using the program or spend more time figuring it out as they go along. This can cause a lot of stress and make work harder than it needs to be. Setting time apart for your employees to learn and understand a tool like Microsoft Excel will make them more productive and equipped to face challenges when they come back to work.
10. Instil a culture of modernity and innovation in your company.
Sticking to out-dated and traditional protocols can turn off a lot of employees who want to keep up with the times. Show your team that you are all for modern practices and innovative tools to help the company adapt to its current environment by training them to stay updated with Microsoft Excel. Make them aware of the new updates and changes that come with these programs, assuring that your business is not stuck in the past, but ready for the future.
Training your team in Microsoft Excel can boost your business or make you more employable. Want to train yourself or your employees in Advanced Microsoft Excel? Check out our website for programs that suit you or your company’s needs.