Justifying and Utilizing Spreadsheet Software

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Justifying and Utilizing Spreadsheets Firstname Lastname Name of University Justifying and Utilizing Spreadsheets With regards to the recent increase in the company’s sales, there is an urgent need to introduce a software that would facilitate the invoice generation process. Currently, the company uses a document editor (Microsoft Word) to maintain a record of all the invoices. Not only are the calculations within these invoices tiresome as they are manual, they are also prone to errors. A spreadsheet program such as Microsoft Excel would be appropriate for the invoicing purpose as it would not only store the invoice details (such as invoice id, customer’s name, item name, item amount, etc.) in a format easy to email/print/post, but it would also automate the process of performing basic invoice computations e.g. the total sum amount, average, etc. (LeChat, 2016; Burke, 2016). Small and big companies use Excel to execute daily tasks related to accounting, scheduling, storage of customer data and for the monitoring of business performance (revenue, return on investment, profits, losses, etc.). So, transferring the company’s invoicing system to Excel would open path to a wide range of possibilities. Since, Excel can keep track of data throughout its lifetime, once a meaningful amount of data exists in Excel, its regression analysis function can use that data and predict the company’s potential revenue in future. It can alert the owner of potential difficulties or potential growth opportunities. It can interpret data sets, organize them into informative charts and graphs, based on which the company owners can analyze the company’s financial condition and

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