The basis for most tax processes.
You would probably not expect it, but even as a tax automation company, we are still using Excel a lot. For example, during the blueprint phase and to make calculations clear for multiple users. There are many risks attached to company-wide use of spreadsheets, so we use Microsoft Excel only carefully. But for smaller organizations or as a first step in the tax automation world, Microsoft Excel can be of a considerable benefit.
A lot of Performance Management solutions offer add-ins with Excel. So, if you do not have a fully integrated tax process, you can still use the consolidation data from your Performance Management solution and connect that for the time being to a tax process in Excel.
A lot has been said and written about the use and abuse of spreadsheets in Finance. Consulting firms, software vendors, and the likes love to blame the spreadsheet for its risks and inefficiencies. They often promise that all those issues will magically disappear when you get rid of the ‘Excel hell’. But in reality, Excel is not that easy to get rid of.