[iscro]

People outside of finance really underestimate how important excel is in the finance world. It really is the lingua franca ( or the universal software ) of the industry. It is so entrenched that even google hasn't been able to move the dial. One of the major selling points of google spreadsheet is that it is free. What google didn't realize is that finance companies are wealthy enough to afford to buy or license software. As poor high school or college students, we all used google spreadsheet, but in the industry, we all use excel.

There are so much sunk costs ( decades of excel worksheets and decades of technical know-how ) that most companies aren't going to switch to another spreadsheet and migrate all that data and retrain their employees.

[o_nate]

As a long-time finance developer, I can attest to this. I think the only company that will be able to kill Excel's dominance in finance is Microsoft, and sometimes I think that they're trying. It seems the past few releases (basically 2013 on) have alienated a lot of power users by needlessly shuffling the menus/toolbars, adding lots of graphics that slow down sheets and add nothing for people who already know how to use the app, and not keeping a laser eye on memory consumption/performance issues.