Those in corporate finance who are expecting spreadsheets to lose relevance may want to check the habits of their youngest employees.
A new Datarails survey of 212 finance professionals conducted in October reveals a picture of the unprecedented multigenerational CFO office, which runs counter to common expectations about how younger workers approach financial work. The report identifies a cross-generational group called “Generation Excel,” and its findings reveal that the youngest employees in finance are driving a renewed wave of spreadsheet use.
Their emotional attachment to Excel, their daily habits and their career assumptions point to a future where spreadsheets remain central to how finance teams operate. The survey shows strong enthusiasm for traditional tools among younger professionals at a time when many leaders assume their interest lies elsewhere. The data highlights a youthful workforce that is solidifying Excel’s role in the future of finance rather than moving away from it.
Generation Excel and the new spreadsheet lovers
Among the survey’s most interesting findings is the enthusiasm of young finance workers for Excel. More than half of respondents (54%) aged 22 to 35 say they love Excel, which is higher than the 39% of older colleagues. Younger workers also spend more time in spreadsheets than anyone else, with eighty-three percent of that age group spending more than five hours a day in Excel, and more than one in four spending more than seven hours with it. Their workdays revolve around the trusty grid with a level of intensity that surpasses older generations.
Emotional connection reinforces this trend. More than 78% of younger respondents say they feel a high or moderate attachment to Excel. Older workers maintain the strongest emotional ties with nearly all (94%) reporting high or moderate attachment. These numbers challenge assumptions about generational differences in financial tools. The youngest professionals are entering the workforce with deep comfort inside Excel, and they see it as a natural part of their daily workflow.
Excel also remains the favorite business application in the CFO’s office. Forty-one percent of respondents name it as their top tool, which places it ahead of ERPs, FP&A platforms, PowerPoint and Slack or Teams. Accountants feel this preference most strongly, with over half (57%) selecting Excel as their favorite. Their reliance reflects a broader operational reality that is filled with inconsistencies in the use of new technology.
A large chunk (89%) of all respondents say more than half of their financial processes and workflows run through Excel, from forecasting to consolidation to month-end close. The average respondent spends 5.4 hours a day in spreadsheets, with most falling between five and six hours. Excel continues to sit at the center of finance work across roles and industries, and younger workers are reinforcing that structure.
Excel’s future and its role amid new technologies
The survey reveals clear expectations for the future of Excel. Eighty-four percent of finance professionals say the tool will be equally important or more important in the next 10 years. The confidence is especially strong among younger workers, where 89% predict a long future for spreadsheets. The oldest respondents express even more certainty; 94% of them said Excel will maintain or grow its importance down the line.
These beliefs emerge during a period of growing interest in automation and AI, yet finance employees do not see those developments reducing Excel’s role. They expect spreadsheets to remain a fundamental part of their work alongside new technologies.
It’s the career implications that shape this outlook. Nine in ten (90%) of respondents say Excel proficiency helped their career progression, and almost a third (32%) say it was a major catalyst for advancement. The rest say it played at least a minor or moderate role. No respondent said Excel had no impact.
Job preferences strengthen this point. Eighty-eight percent say they would have a negative reaction to a job offer that restricted Excel use, and 51% say they would decline an offer from a company that banned the tool. While a company that bans Excel might not be a favorable employer for reasons outside of technology, 78% of respondents ages 22 to 35 say they would either decline such a job or accept with concern.
The strain of busy work
The survey captures both affection and frustration of a blend of legacy tools being operated in a tech marketplace flooded with remedies that are packaged and sold in the name of innovation. And, though CFOs and their teams still love Excel, it does not come without its challenges.
Overall, 45% of respondents say they love Excel, while 43% describe their relationship as love and hate. Only 12% say they hate the tool. When asked about their biggest frustration, 28% pointed to data consolidation. Manual entry and updates follow at 23%. Version control is third at 22%. Collaboration challenges came next at 14%, followed by error hunting at 13%. These issues create material time pressure.
Like with any tool or project, the time spent fixing errors in Excel can also boil over into frustration. In this case, 81% spend at least six hours a month fixing errors. One third of FP&A teams spend 11 to 20 hours each month doing this work. Treasury teams report that 3% spend more than 20 hours. Material errors are a common experience. Almost all (99%) of respondents have discovered a material Excel error before sharing work externally.
Excel’s future in the CFO office is secure because the next wave of finance talent is already building its careers inside the grid. Modernization efforts will likely succeed when those tools help strengthen Excel, rather than sideline it. It’s unlikely finance teams are looking to replace grid-based ledgers anytime soon, and “Generation Excel” is already shaping how finance works with growing influence as the youngest professionals rise into leadership roles.