Finance pros fluent the language of Excel's formulas, macros, and general functionality rely on the software so heavily that separating them from it is nearly impossible. Additionally, junior hires at banks, investment managers, insurance companies, and other firms are trained in the ways of Excel - perpetuating the industry's addition.
Last week, The Wall Street Journal published a short article with the headline "Stop Using Excel, Finance Chiefs Tell Staff.” This humble story stirred up a tempest that grew to include hundreds of online comments, emails and social-media posts. Arguments erupted on LinkedIn and Reddit that, some readers say, continued at the Thanksgiving table. Excel has been updated dramatically since it first hit the market in 1985, but it does have its limitations. Many corporate accountants and financial planners said they remain ardent fans but admit to using specialized software for some tricky jobs.