What is Microsoft Excel and how does it work?

Microsoft Excel is the industry-leading spreadsheet software that has been the backbone of financial analysis and data management for decades. As part of Microsoft 365, Excel provides powerful calculation capabilities, data visualization tools, and collaborative features that finance teams rely on daily for budgeting, forecasting, and reporting.

Benefits of Integrating Microsoft Excel with Abacum

The Abacum connector for Excel empowers finance teams to leverage Excel's familiar interface while gaining enterprise-grade FP&A capabilities, eliminating the traditional limitations of spreadsheet-based financial planning.

• Seamless bidirectional data synchronization between Excel workbooks and Abacum's centralized platform, ensuring all stakeholders work with consistent, real-time information

• Eliminate manual copy-paste errors by automatically flowing data between Excel models and Abacum, maintaining data integrity across all financial processes

• Preserve existing Excel models and formulas while adding governance, version control, and audit trails that spreadsheets alone cannot provide

• Enable real-time collaboration across distributed finance teams without the version control chaos of emailed spreadsheets or shared drives

• Automate data consolidation from multiple Excel sources into unified financial reports, reducing month-end close times and improving accuracy

• Scale financial operations without abandoning familiar Excel workflows, perfect for mid-market companies with 100-1,200 employees transitioning to enterprise-grade FP&A

• Maintain a single source of truth while allowing team members to work in their preferred environment, whether Excel desktop, Excel online, or Abacum's native interface

• Accelerate scenario planning and forecasting by combining Excel's computational flexibility with Abacum's automated workflows and real-time data updates