Loading
BLOG
A significant requirement in any business is to have variety of reports to be created and e-mailed on a set frequency regularly. Microsoft Excel is a very powerful tool that enables users to capture, process, present and report data in meaningful ways. Microsoft excel spreadsheet and models are predominantly used across wide range of processes, from Investment research & Portfolio management to currency trading & loan processing and for about everything in all business processes. As financial services companies have traditionally relied on Excel as a reliable tool for these purposes and in the process have amassed huge data as well as developed/evolved their business processes. At many places, many of the components of these business processes are manual in nature, ranging from data capture, manipulation to generation of reports. Excel automation allows these processes to ascend next level of organization maturity by systemizing many of these tasks at the same time reducing the rate of error and data accuracy significantly There are several types of automation tools provided in the Excel Programming, which help the users to execute complex business tasks within fraction of seconds and ensure better outcome. Excel Macros is among the most highly ranked tools, which ensure systematic automation of jobs within limited time frame. These days lot many of market data platform & custom internal applications have been developed to imitate or substitute Microsoft excel over years, but still excel remains arguably the most widely-used mission-critical application for financial services industry professionals. Benefits of Excel and Business Process automation 1) Organizing & Data Comparisons – Organizing and data comparison can be easily done using the Excel programming power giving benefits one after the other. Excel programming applications allow the user to organize the lists and collate without any hassles. It also becomes far easier to analyze and separate the rows and columns of data and bring phenomenal changes in the way and manner business can be conducted. 2) Automated Daily status Reports – Excel as the ideal office and business automation application engages daily status reports, monthly forecasting, or sales task. The updated Excel reports provide business the very importance about making informed decision and that too within limited time frame. Expert excel programmer can take power of excel to the next level where the applications turns out to be a genie. 3) Dashboards – Excel based dash board helps in bringing marvelous change in the business performance and as the result decision making process can be done quite efficiently. Excel based Dashboard reporting brings with it, superb reporting power and you can easily create and maintain the dynamic reports. It is through the dynamic reports that you will be able to navigate through the data as well as compare the data from different sources. Dynamic reporting in excel also helps in the comparing the data from several other sources over the timeframe. In short, Excel can bring complete change over in the office
Maturity capability Matrix The level of excel automation adopted and used in an organization is directly proportionate to its maturity. We have looked at many clients and prospects that have adopted business process automation and have come up with following capability matrix:
A. Manual use of Excel – this is the most primitive level where organizations have used Excel to store, process and report data. Typically in the start-up phase of an organization they resort to this kind of approach, which normally last until they grow to tens of employees at which point they consider to the next level: B. Excel Automation – In this phase, organizations focus on optimization, data accuracy, faster processing and standardizing business processes. They still rely on Excel as a primary business process tool but with some degree of automation ranging from data capture, manipulation, validation, and reporting. C. Business Process Automation – As organizations grow more than 100 or so employees, they soon find Excel approach (even with automation) unsustainable. Main disadvantages include inability to be used by multiple people, operational risk by not storing data in systematic fashion. They are left with this approach where they must systematically store data in some repository, standardize data points as well as business process and implement data processing using ETL tools and higher level languages like Python, C#, Web Services, SSIS et al.
Your details will not be published. Required fields are marked *
Ahmedabad, India +91 77780 59923
New York, USA +1 212.899.5148
Princeton, USA +1 732.516.8233
New Jersey, USA +1 732.516.8233
EMAIL info@convergesolution.com