MS Excel Archives - Page 6 of 7 - PDF Blog | Investintech PDF Solutions

Exploring Document Management Needs For Insurance Companies

Document management in the insurance industry is important. Clients submit documents in a number of different methods and formats. As such, insurance companies need to be prepared to handle any type at any time, whether paper-based or electronic.

However, with PDF files being the de facto standard for document submission, insurance companies can expect to deal with high volumes of digitized data. This means being able to handle, process, and store those files.

Document Management Folders

Despite this obvious fact, some insurance companies are still hesitant to invest in document management software or individual tools. But for some companies, the onslaught of data and documents that need analysis is pushing them forwards, forcing them to explore their options.

Insurancenewsnet.com, in fact, provides a timeless guide for companies who need to start thinking about it and make sound decisions in choosing a document management software tool.

How To Start Your Search For Document Management Tools

To start, there are a few main questions you should keep in mind: How easy is scanning? How are documents organized? Are documents editable?

These are essential questions to think about. For instance, as you get into analyzing those documents, editability will determine the tools you use and the work you perform. Not only that, but it will determine the time spent on working to convert the data from one format to another.

Document organization determines how efficient you’ll be–how do you store, name and retrieve files later on?

With paper-based workflows still largely in existence among clients and third parties, you can expect many setbacks before that data is even ready to be digitally processed and analyzed. How can you get them quickly into an electronic format?

Struggling With Extracting Data From PDF Documents

As a case in point, one insurance company, AgencyOne, struggled especially with making the data they received in PDF files editable. But dealing with PDF files without a specific tool in place affected their efficiency as an insurance company, an issue not uncommon in the industry.

“It was frustrating that I could find no way to speed up the process of data extraction or take real advantage of the import capabilities,” says Alexandra Smolen, Commission Specialist at AgencyOne. “It used to take me all week to get my work done auditing commission statements.”

AgencyOne Commission Specialist

Finding The Key To Improving Document Workflows

They struggled with PDF files and, later on, found success with data extraction using Able2Extract Professional. The benefits the company experienced include:

3x increase in efficiency
Time previously wasted was converted into time spent on strategic activities
Affordable for company budget
Week-long data extraction tasks turned into a few days’ work
Increase in productivity led to an employee’s raise in wage

Without doubt, insurance companies need to start looking at document management solutions. As technology becomes more and more advanced, things such as electronic submissions will quickly become the basic standard. The key to tackling the new digital document age is to make sure your insurace company stays one step ahead of the game.

Read the full AgencyOne case study here for inspiration on how you can get your own insurance company’s workflow up to speed.

27 Microsoft Excel Experts Predict The Future Of Excel In Business Intelligence

With over 750 million users worldwide, Microsoft Excel is the traditional tool of choice for presenting and analyzing data.

And now, it’s in a position to be the new BI tool of choice, as well. With Excel 2016, Microsoft announced some forward thinking built in Business Intelligence (BI) features. In the age of big data, this is huge.

This announcement, however, raised many questions in the field of big data manipulation. Is Excel powerful enough? Can it manipulate the amount and types of data businesses deal with today? Does Excel have a future in Business Intelligence workflows?

In the search of answers to these questions, we rounded up renowned MS Excel experts and picked their brains on it. We asked them one visionary question:

Where do you see the future of MS Excel in Business Intelligence Workflows?

And here is what they shared with us:

1. Purna Duggirala – Chandoo

Chandoo.org // @r1c1

Purna Duggirala There is a running joke in BI communities.

“What is the most used feature in any business intelligence solution?”
It is the Export to Excel button.

Jokes aside, Excel continues to be the #1 platform when it comes to analyzing data, finding information, preparing charts and presenting them to decision makers. In that sense, I see Excel playing a strong role in BI workflows in future.

Excel continues to be the #1 platform when it comes to analyzing data, finding information, preparing charts and presenting them to decision makers. In that sense, I see Excel playing a strong role in BI workflows in future.

– Purna Duggirala

With the addition of features like Power BI (Power Pivot, Power Query, Power View, Power Maps etc.) that naturally integrate with Excel, analysts, reporting professionals and BI people are finding Excel more relevant for full-length BI implementations.

In order to remain the favorite analytics app of everyone, Excel needs to do what it is amazingly good for. These are – offer a sandbox-like environment where anyone can play with data and come up with information, keep the Excel software offerings clean & simple (with the addition of Power BI, buying and using Excel has become a complex process), give users competent & compatible Excel apps for tablet & phone devices and include features to do powerful data analytics processes with one-click (as against a complex set of formulas, pivot tables & manual steps that many analysts do now).

Long live Excel.

2. Ken Puls – Excel Guru

Excelguru.ca // @kpuls

I personally see Excel as THE future of Business Intelligence workflows.

No matter how many systems a company has, how big they are, or how many millions of dollars have been spent on them, the reality is that the majority of data is exported to Excel before decisions of serious consequence are made. I’d go so far as to say that there are only a handful of finance departments in the world who don’t run their critical decision making analysis through Excel.

With the increasingly diverse toolset being added to Excel — Power Query to source and clean data from disparate dirty sources, Power Pivot to aggregate those disparate sources into business intelligence models, Power View to create dynamic dashboards from those models and Power Map to tell the data story on a geo-spatial plane – it’s very clear that Microsoft is investing heavily to make Excel the Business Intelligence tool of choice.

I personally see Excel as THE future of Business Intelligence workflows.

– Ken Puls

The killer for Excel today is not the fact that it isn’t the best out there for building business intelligence, it is the fact that far too many users are ignorant of the vast amount of capability that was added in the last five years. The attitude of “Excel can’t do that” is still pervasive and relied upon by its competitors to sell THEIR products.

My advice to anyone looking at building business intelligence systems today and considering switching to a competitor’s product: find a business intelligence expert who REALLY uses Excel. Ask them what can be done. Chances are you already own the software that will do it all, you’re just not aware of how.

3. Bill Jelen

Mrexcel.com // @MrExcel

The new Power BI Desktop offering from Microsoft will make it easy to create powerful dashboards that you can share to various end points such as iPads within your organization. The easiest way to get data into Power BI is from an Excel file, so Excel continues to be the most important component in the Power BI workflow.

Continue reading →

How To Work Faster With Your PDFs Using Able2Extract 9

How effectively do you convert PDF files? Are you spending more time on setting things up? Making formatting adjustments after conversion? Checking in for conversions to start and end?

Well, with this short guide, we’re putting our foot down on some of the most common PDF conversion time-wasters.

If you’ve got Able2Extract, you may already be familiar with a few of the features on this list. But if you haven’t given them much thought before, you’ll want to take a closer look now. Because when combined, they can eliminate a majority of the small tasks that add up and slow you down.

Specify Custom PDF To Excel Settings Only Once

Performing a custom PDF to Excel conversion is one of the most effective ways to get your spreadsheet data right. But it’s all too easy to get caught up in getting the rows and columns formatted just right. This is why Able2Extract offers Custom Excel Templates.

When you use this feature, you can easily save your column structure and use it to instantly convert other PDF tables that are formatted in the same way. You don’t have to reset your parameters or remember how you set your conversion up.

Custom Excel Template Option

Once you have a template saved, you can simply load it to perform the same conversion any time. So if you’re dealing with customer data or PDF invoices in standardized forms, this feature can do a lot of the leg work for you.

Quickly Open PDFs Without Clicking

When opening a PDF file, you probably waste more than 4 clicks to get it open and set up. Did you know that Able2Extract will let you open a file in less than half of that? Try a couple of these quick PDF-opening tricks:

Drag the PDF onto the Able2Extract shortcut on your desktop

This will open a new window of Able2Extract when you want to quickly start viewing a PDF in isolation, away from PDFs to be converted or edited.

Opening PDF With Shortcut

Drag PDF documents into the Able2Extract 9 interface

Doing this will open a PDF file within the application simply by dragging your PDF into the open application. No double clicking needed. Use this trick to work with a specific group of PDFs at the same time which aren’t located in the same folder.

Opening PDF By Dragging

Automatically Convert To Different Microsoft Office Versions

We know that not everyone uses the same version of Microsoft Office. At one point or another, you probably came across this compatibility issue with others. Ever have to re-convert a PDF or re-save the converted Office file?

Well, instead of re-working the already converted Word, Excel or PowerPoint data, Able2Extract will let you switch up the default format even before you start converting the PDF.

Usually, Able2Extract will convert your data to the Office version you have installed by default. But you can also set the Office output format to 2007 so you convert to the .docx format regardless of the Office version you have installed.

Go to View> Conversion Options
In the dialog, depending on the format you’re using you can,

Switch the PowerPoint default format from the General tab
Switch the Microsoft Word default format from the Word tab. You can choose between .RTF and Word 2007.
Switch the Microsoft Excel default format from the Excel tab. Select between .CSV and Excel 2007.

To make things even easier, you can save your conversion settings as a file. This way you can easily switch between different Office output settings as needed.

Convert To Different Worksheets With One Click

Excel conversions are hard to nail. Oftentimes, you may opt to simply extract everything into one worksheet and then spend a few minutes, post-conversion, moving data around into different worksheets.

If that’s the case, then you should take a look at the Excel Single Worksheet feature. With this functionality, Able2Extract converts selected data from your PDF into one single Excel worksheet.

Excel Single Worksheet Option

By default this is turned on. So if you want to break up your converted data and get each page into separate worksheets for more precise conversions, you can do so before you convert. Here’s how:

Go to the View menu
Click on Excel Single Worksheet to remove the checkmark next to it.

Microsoft Excel Multiple Worksheets

Or you can simply hit F5 to turn the feature off.

Automate And Perform Multiple PDF Conversions At Once

With Able2Extract’s batch conversion, you can get the most done with the least amount of effort. Of all the features in this list, the Batch Conversion option is the one that saves you the most time as it works on multiple PDFs at once. If you have a handful of straightforward conversions to the same format, use this feature.

Automating Batch PDF Conversion

The process is automated, so you don’t have to sit and supervise each process as Able2Extract goes down the list. Just set it up and Able2Extract will take care of the rest. You can quickly access the feature from the command toolbar or by hitting CTRL + V.

Work With Excel Data Like A Pro With 9 Simple Tips

Excel Spreadsheet Diagram

Without doubt, an Excel spreadsheet is one of the most advanced tools for working with raw data—and one of the most feared. The application looks complicated, way too advanced, and like something that would take hours to figure out.

I wouldn’t be surprised if upon hearing that you had to start using MS Excel, your heart started to pound. Is there any way to make Microsoft Excel less scary and intimidating? Yes.

By learning a few spreadsheet tricks, you can bring Excel down to your level and start looking at the application in a different light. We rounded up some of the simplest yet powerful MS Excel spreadsheet tips you can start using on your data.

1. Use MS Excel Format Painter

To start you off, get yourself familiar with formatting your spreadsheet cells. A visually organized spreadsheet is highly appreciated by others as it can help them follow your data and calculations easily. To quickly apply your formatting across hundreds of cells, use the Format Painter:

Select the cell with the formatting you wish to replicate
Go to the Home menu and click on the Format Painter. Excel will display a paintbrush next to the cursor.
While that paintbrush is visible, click to apply all of the attributes from that cell to any other.

To format a range of cells, double-click the Format Painter during step 1. This will keep the formatting active indefinitely. Use the ESC button to deactivate it when you’re done.

2. Select Entire Spreadsheet Columns or Rows

Another quick tip– use the CTRL and SHIFT buttons to select entire rows and columns.

Click on the first cell of the data sequence you want to select.
Hold down CTRL + SHIFT
Then use the arrow keys to get all the data either above, below or adjacent to the cell you’re in.

You can also use CTRL + SHIFT + * to select your entire data set.

3. Import Data Into Excel Correctly

The benefit of using is Excel is that you can combine different types of data from all kinds of sources. The trick is importing that data properly so you can create Excel drop down lists or pivot tables from it.

Don’t copy-paste complex data sets. Instead, use the options from the Get External Data option under the Data tab. There are specific options for different sources. So use the appropriate option for your data:

Importing Data to Excel

4. Enter The Same Data Into Multiple Cells

At one point, you may find yourself needing to enter the same data into a number of different cells. Your natural instinct would be to copy-paste over and over again. But there’s a quicker way:

Select all the cells where you need the same data filled in (use CTRL + click to select individual cells that are spread across the worksheet)
In the very last cell you select, type in your data
Use CTRL+ENTER. The data will be filled in for each cell you selected.

5. Display Excel Spreadsheet Formulas

Viewing Spreadsheet Formulas

Jumping into a spreadsheet created by someone else? Don’t worry. You can easily orient yourself and find out which formulas were used. To do this, use the Show Formulas button. Or you can use CTRL + ` on your keyboard. This will give you a view of all formulas used in the workbook.

6. Freeze Excel Rows And Columns

This is a personal favourite of mine when it comes to viewing lengthy spreadsheets. Once you scroll past the first 20 rows, the first row with the column labels annoyingly disappear from view and you begin to lose track of how the data was organized.

Freezing Excel Columns Rows

To keep them visible, use the Freeze Panes feature under the View menu. You can opt to freeze the top row or, if you have a spreadsheet with numerous columns, you can opt to freeze the first column.

7. Enter Data Patterns Instantly

One great feature in Excel is that it can automatically recognize data patterns. But what’s even better is that Excel will let you enter those data patterns to other cells.

Simply enter your information in two cells to establish your pattern.
Highlight the cells. There will be a small square in the bottom right hand corner of the last cell.
Place your cursor over this square until it becomes a black cross.
Then click and drag it with your mouse down to populate the cells within a column

8. Hide Spreadsheet Rows and Columns

In some cases, you may have information in rows or columns that are for your eyes only and no one else’s. Isolate these cells from your work area (and prying eyes) by hiding them:

Select the first column or row in the range you want to hide.
Go to Format under the Home menu.
Select Hide & Unhide>Hide Rows or Hide Columns.

To unhide them, click on the first row or column that occur just before and after the hidden range. Repeat steps 2 and 3, but select Unhide Rows or Unhide Columns.

9. Copy Formulas Or Data Between Worksheets

Another helpful tip to know is how to copy formulas and data to a separate worksheet. This is handy when you’re dealing with data that’s spread across different worksheets and requires repetitive calculations.

With the worksheet containing the formula or data you wish to copy opened, CTRL + click on the tab of the worksheet you want to copy it to.
Click on or navigate to the cell with the formula or data you need (in the opened worksheet).
Press F2 to activate the cell.
Press Enter. This will re-enter the formula or data, and it will also enter it into the same corresponding cell in the other selected worksheet as well.

These general tips won’t turn you into an Excel guru overnight. But they can help you take that first step towards becoming one! Are you a well-seasoned Excel user? Which of your spreadsheet tricks would you add?

3 Tips On How To Use Excel For Calculating Taxes From PDF Data

Photo Credit: gonzalo_ar via photopin cc

Tax season rolls around every year and with it comes the head ache of getting organized. It means digging up year old statements and revisiting your ledgers, which is a daunting task in itself. Even worse, if you’re a procrastinator, it may mean the added stress of finding walk-in tax centres booked solid, forcing you to take the DIY approach.

Admittedly, doing taxes yourself can be risky. But user-friendly tax software and speedy e-filing methods are incentive enough to make the attempt. Getting the numbers right is what matters most. For that, there’s Microsoft Excel, one of the handiest tools for calculating and dealing with complex data.

If it’s your first time doing your taxes online, we’ve got a few important pointers that can make working with taxes and Excel easier for you.

1. Insert, Adjust And Calculate Your Tax Data In Spreadsheets

Photo Credit: Jorge Franganillo via photopin cc

First off, to calculate your income taxes, you first need to calculate your taxable income. To do this, convert your financial data into Excel so you can work in your applicable deductions, credits, and exclusions using Excel formulas and functions. They can seem scary and complicated, but once you get the hang of them, they are invaluable!

Second, because all invoices and tax deductible receipts are different, you want to ensure that your converted data is properly adjusted and laid out. If you’re calculating your federal income tax using tables in Excel, your results depend on where the data is placed. Thus, correctly inserting disparate data from the start will help prevent major calculation errors.

Able2Extract Excel Preview Panel A custom PDF to Excel conversion though can fix the alignment of cells and their data just where you need them. Able2Extract lets you manually move the row and column lines and even give you a preview of how the data will look in your spreadsheet.

2. Use Separate Worksheets For Data Calculations

Every tax filing is different and depending on your situation you may need to use supplemental tax forms and schedules. You may also need other tools, like updated tax tables or the tax computation worksheet from the 1040 US tax return instructions. So consolidating your data where needed can be an efficient way to stay organized.

Excel Worksheet Names

Every tax form, calculation, or schedule requires special attention. Consequently, you may want to use separate worksheets for different schedules or forms. This way you can set each one up with defined formulas for calculating specific data.

This has a lot of convenient benefits. Each year, you can go back to the same worksheet and just drop your updated numbers in. If you need numbers from different PDF statements, you can convert the relevant data into the same worksheet using Able2Extract.

Able2Extract Custom Excel Template Moreover, its custom Excel template feature, you can set up your Excel conversion once, save it as a template (seen above), and use it on next year’s PDF statements, which, more than likely, will be formatted with the same layout.

3. Keep Data Formatting Consistent

Photo Credit: Jorge Franganillo via photopin cc

If you use different Excel formatting due to language and cultural preferences (commas for decimals or pound signs instead of dollar signs, for instance), you should make sure that all notations are consistent to avoid misinterpretation. Fortunately, Microsoft Excel is highly specialized in formatting and manipulating data.

To fix the formatting in Excel, you can use the Sort & Filter and Data Tools section in the Data tab or the Numbers and Editing sections in the Home tab. To do this even more efficiently, reformat your PDF data even before it even reaches the spreadsheet. With PDF receipts and records, you can change the notation and formatting during the PDF to Excel conversion.

Able2Extract Excel Conversion Parameters

Using the MS Excel conversion parameters in Able2Extract will adjust your data to fit the format you want to use in your spreadsheet, like whether or not to replicate the fonts from the PDF. Retain the dollar sign as a separate symbol, use European continental settings, or treat rows as columns and vice versa.