A recent survey featured on CFO.com indicates that spreadsheets remain widely integrated in finance-related activities, even for the youngest finance professionals starting their career in the field.

In the survey conducted in October among 212 finance professionals by Datarails, it was found that a large percentage of Gen Z and millennials admitted to “loving” Excel, which was a remarkable percentage even among their younger counterparts in finance. 

The survey revealed what it labeled a cross-generation group known as “Generation Excel.” A total of 54% of those surveyed ages 22-35 showed a tremendous passion for spreadsheets. 83% in this group spent over five hours a day using Excel.

A surprising finding is that nearly a quarter of this group spends over seven hours a day using spreadsheets. In general, a total of 74% use Excel for at least five hours a day. 

It was also rated as the business application of choice in the CFO’s office by a high number of respondents at 41%, outshining ERPs, FP&As, and collaboration tools.

Notably, even as there appears to be a rising interest in automation and AI technology, an overwhelming majority of 84% of respondents indicated that the use of Excel will be equally or even more important in the coming ten years.

Although many respondents expressed frustration in data integration, versioning, and correcting errors, it appears that Excel skills remain an essential part of career advancement and finance operations.