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Depending on usage scenario, Excel is replaced with:

- process management system, usually web-based, and all business data is stored in the (central) DB. This could be specialized domain-specific solution, or organized with low-code tools like PowerApps, or even own software developed in-house (possibly, with help of outsourcing partner) - BI tools to replace use-cases when Excel is used for reporting/analytics (not data entering)

Migration can involve both these items, or only one of them. For example, if using Excel for data entering is still ok, but for reporting brings to much chaos (no single source of truth, it is possible to 'edit' or open outdated worksheet and have different numbers etc) - you may start with a BI tool that uses 'master' Excel file as a data source.