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Table of Contents

• What is Spreadsheet Software?
• Benefits of Spreadsheet Software
• Typical features of Spreadsheet Software
• Cost of Spreadsheet Software
• Considerations when purchasing Spreadsheet Software

What is Spreadsheet Software?

Spreadsheet software, also known as electronic spreadsheet software, allows users to organize and calculate data in tables, graphs, and charts. The data could be text, numeric values, or graphics. The tool is used for accounting, data analysis, project management, and various other departments that rely on data for decision-making.

Using spreadsheet software helps capture and store data in a structured format. The tool offers advanced features such as version control, collaboration tools, access and permissions, allowing secure data sharing with on-time updates.

 Benefits of Spreadsheet Software

• Securely share data: Using spreadsheet software allows you to set access controls such as read-only, or read and write permissions. Setting role-based access helps you ensure that no uninformed changes are made to your data and that it is safe from unauthorized access. The tool enables you to directly share access with the relevant team members using the spreadsheet link. In addition, you can download and share the file via third-party chatting tools or email. 
• Get alerts on comments and shares: Spreadsheet software sends alerts to users when you share a new spreadsheet with them or add comments to the already shared sheets. This process helps keep the relevant team members and sheet owners informed when data is shared or modified. You can also tag specific team members in comments to avoid sending alerts to other sheet owners or editors. 
• Visualize data with charts: You can use different charts and graphs to visualize your data. The visualization tools include column charts, pie charts, surface charts, line charts, and more. The tool also includes templates of the desired chart or the ability to create your own from scratch. In addition, you can customize the chart with different font types and graphics, depending on the theme or topic of your database.
• Perform calculations with built-in formulas: The tool helps streamline mathematical calculations with built-in formulas. There are hundreds of formulas that you can select and use to perform calculations ranging from basic addition and subtraction to percentiles and average sums. Moreover, the tool allows you to create your formulas by combining two or more formulas or performing calculations using operators. 

Typical features of Spreadsheet Software

• Data tabulation: Arrange and organize data in rows and columns to identify relationships between different data points. Data can be organized to identify single or multiple relationships depending on the business requirements.
• Data visualization: Represent data graphically using pie charts, bar graphs, and more for better understanding. Use the visualization tools to create infographics and download them to embed in other documents. 
• Access controls and permissions: Set role-based access controls when sharing the spreadsheet with team members depending on their relevance to using the data. Allow other team members to request access to spreadsheets.
• Collaboration tools: Comment on the spreadsheets and assign comments to specific team members. Make changes to the spreadsheet in real time while collaborating with team members and tracking changes in the history. 
• Data import and export: Download and share spreadsheets via third-party chatting tools or by email. Integrate the tool with other business applications to directly export the data. 
• Version control: Track the changes made and comments added to the spreadsheet at different times starting from the creation date. Restore the older version of the spreadsheet as required or copy-paste the required data. 

Cost of Spreadsheet Software

Most products in the market are priced on a “per-user, per-month” basis and can be divided into three pricing tiers based on their starting price.

Price ranges*:

• $9 - $24
• $24 - $29
• $29+

*The pricing included is for the entry-level/lowest-priced offerings found on vendor websites as of September 30, 2022. These ranges correspond to the 25th, 75th, and 100th percentiles of pricing information gathered from vendor websites of sample products.

The above list includes pricing for the base plans of most products. An enterprise or premium product that is priced higher may include additional features such as data tabulation, data visualization, collaboration, and access controls and permissions. 

Considerations when purchasing Spreadsheet Software

• Does the spreadsheet tool offer version control?

An ideal spreadsheet software should allow you to track the changes or access the older versions of the sheet right from its creation. However, specific tools offer a limited version control feature based on the subscription plan. Check the feature available with your selected software tool and its functionality before signing the purchase deal. 

• Does the tool send alerts when a user requests access to the spreadsheet?

Most spreadsheet software sends email alerts to the owners of the sheet whenever a user requests access. However, the tool may only send alerts to the original creator of the sheet to approve the access request. Check the functionality with your selected software if you want the tool to send alerts to all the owners of the sheet to approve requests.

• Can the spreadsheets be accessed or downloaded on mobile devices?

Mobile devices, especially smartphones, use a different file format to open spreadsheets from the one used on computer systems and laptops. Not all spreadsheet software allows you to directly download the sheet from the platform where it is shared. Check this functionality with your selected software and if the sheet can automatically change its file format when downloaded on mobile devices.