Why Your Team Needs to Know Excel

As a manager, you are focused on developing the best team of professionals that you possibly can in order to increase overall success, and beat out competition.

Excel

You want to be able to personally climb the career ladder, and make more money, and as a caring manager, you want that for your team members too.

 

Don’t you?


Of course you do. But, to do that you have to invest in yourself and in your team. You have to encourage your team members to develop the type of skills that will benefit themselves and your firm.

 

What skills are those, you may ask?

You may or may not be surprised to learn that the number one skill we’re talking about is advanced knowledge of Microsoft Excel.

 

Seriously.


Think about it for a moment. Your team of accounting professionals is required to compile and analyze a lot of financial data. Right? That’s what they get paid to do. But if they aren’t using Microsoft’s spreadsheet program to create digital worksheets, or if they only know the program’s bare bones, then their ability to be productive will suffer. You need someone who is skilled with the program, and who, because of their skills, will be able to significantly add value to your company.

Allow us to explain what we mean.

 

Excel is the Single Most Used Program in the Business World

 

As you are probably already aware, Microsoft Excel is the most widely used spreadsheet application in the world today. It can be used across departments, with users easily able to share and edit each other’s work. The program can be accessed remotely through the internet, allowing managers at different branches of the same company to collaborate “on the go.”

You can see why having a basic understanding of the program may be important for most staff members. However, for those in the financial department, knowing the basics simply isn’t enough. As an article on Investopedia notes, “It takes a savvy computer user to take advantage of everything Excel has to offer to provide the best results for their company.” That’s why a Microsoft training course is a worthwhile investment.

 

You Get a Snapshot of Your Operations with Professional Results in Less Time

 

The same article goes on to say that finance and accounting “is the area of business with the biggest reliance and benefit from Excel spreadsheets. Advanced formulas in Excel can turn manual processes that took weeks to complete in the 1980s into something that takes only a few minutes today.”

In fact, most major companies’ accounting departments employ only professionals who are advanced users of Excel. This is due to the fact that many accounting tasks use advanced features such as VLOOKUP, INDEX-MATCH-MATCH, and pivot tables.

 

Advanced knowledge of Excel is a Win-Win for Your Team Members and the Company

 

Accounting professionals who have advanced knowledge of the program earn more, and are able to provide more value to the companies that employ them. According to a great infographic posted by SkilledUp.com, when it comes to annual wages, the difference between those who are proficient with Excel earn up to $15,000 more per year that those who don’t know how to use the program, or who know only the basics.

The benefit to the company is clear. When the skills of your professional team members are improved, the company’s bottom line is also improved.

 

What’s Your Bottom Line?

 

As James Kwak, an associate professor at the University of Connecticut School of Law and the co-founder of The Baseline Scenario said, “For all the talk about end-to-end financial suites like SAP, Oracle, and Peoplesoft, at the end of the day people do financial analysis by extracting data from those back-end systems and shoving it around in Excel spreadsheets.”

It’s in your interests then, as a manager, to encourage skill improvement among your team members. An advanced Microsoft Excel training class offers the clearest, fastest way to increase the productivity and competitiveness of your department.