Are You Too Dependent on Excel? Take This Quick Self-Assessment!

An Excel Dependency Self-Assessment for Accounting & Finance Professionals

Many have asked, "Is AI going to replace us?" The answer is NO. However, someone using AI will.

In today's fast-paced accounting world, staying competitive means embracing automation and AI-powered solutions.

Excel, RPA, and ERP automation have served us well, but not without many challenges along the way. How dependent are you or your team on spreadsheets?

This assessment will help you identify where you might be spending unnecessary time in Excel.

Rate yourself on each question using:

• [✓] Fully Automated (Working smarter, not harder!)
• [~] Partially Automated (Making progress...)
• [X] Excel Dependent (Time for an upgrade!)

Transaction Matching & Reconciliation

1. When reconciling bank statements and transactions with your books, do you find yourself creating multiple Excel tabs to match transactions?
2. Do you maintain complex Excel formulas to track order-to-cash matching across different systems?
3. How many Excel files do you have named something like "Recon_FINAL_v2_ACTUALLY_FINAL.xlsx"?

Month-End Close

1. Is your close checklist living in an Excel file that gets copied month after month?
2. Do you maintain multiple Excel workbooks to track who's doing what during close?
3. Are you manually copying and pasting journal entries from Excel into your accounting system?

Multi-Entity Management

1. Do you have an Excel "master file" that consolidates data from multiple entities or business groups?
2. Are you using Excel to identify and track intercompany transactions?
3. When processing invoices or contracts, do you maintain Excel templates to standardize the data?

Variance Analysis & Reporting

1. Do you spend hours in Excel creating variance analyses and trying to explain fluctuations?
2. Is your flux analysis process basically "export to Excel, add columns, calculate variances, add comments"?
3. Do you maintain complex Excel workbooks for executive reporting?

Understanding your responses:

• Mostly [X]: You and your team are spending way too much valuable time on manual data processing that could be automated. Each Excel-dependent process represents hours that could be spent on strategic initiatives.
• Mostly [~]: You've started the automation journey, but there's potential to streamline even further.
• Mostly [✓]: Yay! You're leading the pack in modern accounting practices!

Not sure where to start? Let us guide you through it. If you have not yet familiarized yourself with the agentic AI era, here are a few introductory articles to help you out: "Agentic AI Explained" & "What is AI Agent?"

‍Transform Your Workflow with AI-Powered Agents

If you found yourself marking more than 3 [X] responses, you're not alone. Many accounting professionals are discovering that their Excel expertise could be better applied to strategic analysis rather than routine tasks.Here are a few AI agent examples that can help to automate your “Excel tabs”.

‍Reconciliation Agents

• Automatically match order-to-cash transactions
• Identify discrepancies instantly
• Flag items needing attention with smart detection

Close Management Agents

• Track close process, assign tasks, and identify bottlenecks
• Automate repetitive tasks, journal entries, and reporting
• Ensure completeness and maintain traceable audit trails

Multi-Entity Consolidation Agents

• Automatically identify intercompany transactions and data discrepancies
• Automate journal entries for general ledgers (GLs)
• Process invoices and contracts using simple English commands

Variance Analysis Agents

• Identify significant changes and explain trends
• Predict potential issues and data discrepancies
• Generate detailed executive summaries and reports

Take the Next Step

‍Ready to see how much time you could save? Book a demo with our accounting experts - people just like you, who understand your Excel challenges because they've faced them too. We'll show you how to transform manual processes into automated workflows, giving you back hours while improving data accuracy.

‍Remember: Every Excel-dependent process is an opportunity to enhance accuracy, save time, and focus on what truly matters - strategic financial leadership.

‍Book a Demo – Let’s explore your automation journey with our expert team.

‍Stop excelling at Excel. Start excelling at strategy.