Excel is a great method of information and database management that is being used by almost all companies big or small. This kind of a job is mostly performed by excel experts, who can either be outsourced or can be an employee of your company, but before you select one , you must ensure that he has adequate knowledge about the subject and is able to professionally develop the database of your company. If the database of your company is handled by any non- professional excel consultant, then there is a fair chance of typical problems to arise.
The major advantage of using Excel is, it does not require any additional software to be installed in your computer, your computer is likely already equipped with Microsoft Office and can immediately start your programming process. Excel is easy to use, user friendly, and most people can get in and review the spreadsheet and make simple changes, in the absence of excel consultant. In case, when the records of your company grows huge, in such situation the excel applications can be easily upgraded into access, oracle or SQL server. Database stored in excel can easily be integrated into pivot tables, by just connecting it directly to OLAP database.
Being rich in financial modules, the expert hired by you to take care of excel, does not have to create separate financial modules. Excel can perform many financial functions which includes, fixed assets depreciation. Excel is also very portable, this ensures that the data can be easily sent to other offices, at different location through e-mail. In case, while e-mailing the excel database, you have accidentally sent it to a person who is not authorized, in such a situation the problem can be solved by applying a password protection to the document. This password will protect your database from unauthorized usage.
Along with the various advantages, maintaining database using excel application also has certain disadvantages. The disadvantages are not so serious that you cannot work around them, and can be minimized. In case when the file containing the database becomes very large, then there is a chance your program will run very slow. This is the reason that the excel experts make the program compact or store each applications in different files, the smaller the files the faster the execution. Many times by dividing the database into several files there is a high chance that the excel files might get lost in the hard drive. Excel worksheet has a limited number of rows, this is the reason that the excel consultants convert the database into access when the database crosses the limit of 65,000 lines.
Outsourcing the job can be a cheaper option, but if you have an in house Excel expert you can always maintain constant support in handling routine problems. For larger problems, an outside Excel consultant may be helpful.