How Google Sheets Can Benefit Your Business

Google Sheets May 4, 2023

Nowadays, there are all kinds of software and applications required for successful operations of any business. From a simple mobile app to a cloud-based software service such as SaaS, there is an overwhelming amount of tools available for enterprises. But sometimes the best tools are the ones that have been around the longest and are versatile, such as spreadsheet software.

While they are not as popular as the other business applications in the market, spreadsheets are a go-to tool for countless companies and individuals. Google Sheets is Google’s spreadsheet tool, and it is one of the best multi-functional applications in existence.

So let us dive deeper and understand this software and how it benefits your business's growth.

What is Google Sheets?

Google Sheets for businesses is a powerful cloud-based spreadsheet application that offers tremendous flexibility to organize, store, track, and analyze important company data. This exceptional tool empowers users to collaborate in real-time as they work on business-related information. It is an efficient communication tool that is compatible with mobile and desktop applications such as Chrome OS, Android, Windows, iOS, and Blackberry.

How can Google Sheets benefit your business?

Because of its diverse set of features, online spreadsheets is an ideal choice for companies of all kinds to manage their records in a cost-effective and productive way. Let us explore a few benefits that Google Sheets templates for business provide you with:

Organization And Customization

The primary function of any spreadsheet is to organize your metrics. With Google, this task becomes simple and efficient. You can customize your worksheets as per your organization's requirements and store them in the cloud. This allows your employees to easily navigate through the sheets and find what they are looking for. Additionally, you are able to generate an organizational chart to monitor the team members and their responsibilities within the project. With just a few minor adjustments in the correct sheet, your data is neatly organized and customized for different types of information.

Collaboration

The biggest benefit of cloud-based software is that it allows real-time collaboration with co-workers. Google Sheets enables multiple individuals to work simultaneously on the same spreadsheet from diverse locations. Its embedded comment and chat feature allows employees to discuss concepts and modifications while collaborating on the document together. This makes it the most effective collaboration tool that ensures all the team members do not miss important information or update. There is also history tracking, that guarantees you will never have to lose any changes or details again.

Automation

In the long run, automation saves you both time and money and diminishes the risk of errors in data entry. Google Sheets can automate many tasks such as updating formulas and consolidating records. With Google Apps Scripts you can add customized automation tools to your spreadsheets, giving your business better information handling and control. By doing so, you are able to concentrate your time and resources on the critical elements of managing a business. There is also a built-in feature offered by Google that makes it easy to set up automation.

Easy to learn

Everyone can use online spreadsheets as it does not require intensive training to get the hang of it. Many people have had some hands-on experience with worksheets whether to manage their personal finances or built pivot tables in the work environment. It is a convenient tool to record information, and outside of building various formulas, it is fairly intuitive in nature. This makes Google Sheets the most cost-effective option for teams that are growing fast and do not have a lot of time to train new employees to use complicated software.

Security

This application lets users set up different levels of security access to spreadsheets. This allows administrators of sheets to have the flexibility to control who edits, views, or comments on the documents. The application is also protected by Google-grade encryption across all its services, which guarantees that your business records remain safe even when being shared over the internet. If you need any additional security measures, you have an option to enable a two-step verification, which makes it easier to keep sensitive company information secure without any fear of unauthorized access or breach.

Integration with other software

Another big benefit of using Google Sheets for business is its easy integration with other Google products such as Google Forms, Google Drawings, Google Finance, etc. This allows you to sync your inputs across multiple applications and access and update information with ease. You can also integrate it with third-party applications such as SpreadSimple, QuickBooks, and SalesForce which allow you to quickly create a website or pull relevant details from different sources. This feature makes it possible to have a more comprehensive view of company metrics and is most useful for organizations that rely on data integration.

Cost Effective

Google Sheets templates for business has no subscription fees or hidden charges to it. It is a free application that is available to anyone with a Google account. This makes it a very cost-effective way of managing information and collaborating with other company members. The web software is also constantly updating and adding new features to its software so that its users get the best out of their data management system. This helps you avoid investing in expensive software and hardware for your business needs.

What are some of the features of Google Sheets that can help your business?

Google Sheets is a work tool supporting more than 400 spreadsheet functions developed to create formulas that automate input, calculate numbers, and generate patterns in the form of graphs. It offers any business a tremendous amount of flexibility to manage, track, evaluate, and organize their company's records. Let us explore the top features of Google spreadsheets that will help your business grow:

Project Management

Spreadsheets are one of the best tools in the market for tracking and management of a project. Google Sheets templates for business are no different in that regard, they create customizable trackers and templates for almost anything and everything in your business. This flexible tool enables you to effectively manage and monitor people, events, budgets, timelines, and resources that might be dispersed across various locations or departments. The great thing about online spreadsheets is that every person involved in a project has access to the same document at the same time, making this application an ideal setup for small and medium-sized companies.

Customized Invoicing and Purchase Orders

Google Sheets offers its users in-built templates that create custom invoices and purchase orders. They can further be customized to fit the unique requirements of an individual or an organization. Users have an option to download a copy of the document from their Google cloud storage into a PDF file, which is one of the most universally accepted document forms. It is also perfect for email or printing out.

Budgets and Accounting

Budgets and financial accounting are the core functions of any organization. A spreadsheet tool helps you create budgets, keep track of expenses, and organize your finances. There are existing templates available for things like monthly or annual budgets, expense reports, investment portfolios, and many more. These templates can further be modified and customized to match specific needs, if the existing fields are not enough.

CMS and Website Building

Google Sheets are primarily used for organizing and storing information or inventory. But with easy integration of this software with other applications, this function can be further advanced to create a customized webpage. SpreadSimple is one of the most user-friendly no-code website builders that converts your Google Sheets into an online store in a few minutes. The unique thing about SpreadSimple is that your spreadsheet will function as your website’s CMS (content management system), so your webpage gets updated automatically once you edit your information. Most users give credit to SpreadSimpple for its convenient and easy functionality.

Data Analysis

Just storing, organizing, and handling vast amounts of records is not enough for any company. The key to success lies in data analysis and interpretations. For advanced users, Google Sheets for business offers in-depth data analysis with a function called pivot tables. It helps to narrow down a large amount of information and see the analysis of the data points. For example, pivot tables show you which salesman got the highest revenue for the organization in a specific month, quarter, or year. Data analysis in Google Spreadsheets requires applying various formulas to transform your metrics into the format of your choice and to make necessary calculations, this process is known as data cleaning and parsing. But if your raw details are in a structured format, then using conditional formatting you can get automatic color coding and graphs to analyze your information and help visualize the figures.

Charts, Graphs, and Reports

Data visualization is a powerful tool for everyone, as it tells them about the direction in which an organization is headed. Google Sheets offers different formats and templates to create charts, graphs, and reports presenting the details in the spreadsheet. Using charts, graphs, and reports you can introduce your ideas in an organized and appealing way to your board of directors, investors, suppliers, or customers. You can also put this information in a new sheet and download as a PDF or print it directly to be used as a presentation or for easy distribution among staff and management.

Import Data

One of the unique and time-saving features of Google Sheets is that you do not need to input data into the sheet manually every time. With the wide range of tools available, you can import information from other sheets, websites, and also CSV data from Google Analytics, Facebook Ads, Google Drive, Zapier, etc. For example, the IMPORTHTML function imports data from tables, lists, and content on websites, the IMPORTRANGE function can be used to get figures from other spreadsheets, and the IMPORTJSON formula can easily fetch data using API and JSON URL and incorporate it into your Google Sheet. This efficient process eliminates the need for complex coding, making it accessible to users with varying levels of technical expertise.

Google Sheet Dashboard

A dashboard is a place where you can easily view essential data about your enterprise at any given point in time. It gives you the most insight and control over information in your organization after data analysis. A Google Sheet Dashboard feature consists of most of the elements that we have discussed in the article. Think of this dashboard as a tracker that combines data analysis and automation at the same time. Your dashboard is an official spreadsheet that is customizable to display the needed reports for monitoring every day. After the initial setup is done, you simply need people to input the correct data to keep displaying the visual reports on the dashboard. Companies that embrace the full power of the Google Sheets dashboard are able to make a huge positive impact on their whole business.

How easy is it to use Google Sheets?

Google Sheets for business is a free-to-use application that can be accessed with just a Gmail account. It looks and functions like any other worksheet application, but offers more features and benefits than others. It is accessible from anywhere on a Chrome browser or the Google Sheet app on iOS and Android platforms. Furthermore, it is easy to open a new Google Sheet with the following steps:

  • Go to the Google Drive Dashboard and click the “New” button in the top left corner. Select Google Sheets.
  • Then open the menu bar in the spreadsheet window, go to the File drop-down and select “New”. This will create a blank spreadsheet with no title.
  • Click on the field in the top left corner titled “Untitled Spreadsheet” and type in your preferred name.
  • When a new spreadsheet is created, it is automatically saved in the root folder of your Google Drive.
  • If you wish to move the Google Sheet, simply click and drag it to the preferred folder of your choice.

Here are some of the common terminologies associated with Google Sheets to help you understand them better:

  • Cell – A single element or data point in the sheet
  • Row – The horizontal range of cells that runs across from the left side of the spreadsheet.
  • Column – The vertical range of cells that moves down from the top of the spreadsheet.
  • Range – A selection of cells that extends across a column, row, or combination of both.
  • Function – It is a built-in feature that is used in calculating a cell, column, row, or range value for the manipulation of data and more.
  • Formula – A combination of functions, columns, rows, cells, and ranges that are used to get a specific end result.
  • Worksheet – A set of columns and rows that make up a spreadsheet
  • Spreadsheet – The entire document that contains all the worksheets. A single spreadsheet can have multiple worksheets in them.

Conclusion

Google Sheets templates for business offers a tremendous amount of functionality as a whole. One of the best things about this tool is that most people are already familiar with its functioning, so incorporating it into the business is relatively easy. You can automate your operations, assign tasks, monitor employees, track progress, align the budget, and determine sales with this helpful, flexible tool. By incorporating this software into your day-to-day operations, you will make your business grow and become more successful.

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