What are the Best tips to use Google Workspace for Finance?

In today’s world office suites such as Google Workspace have become one of the most basic needs for industries. From education to healthcare, from small shops and stores to well-established businesses and corporations, a well-crafted office suite streamlines the work process and boosts the organization’s efficiency and productivity.

Google has been working as one of the leading service providers for office suites to organizations in various scales and verticals and one of the biggest reasons for that is the regular innovation and updates in the features and tools of Google Workspace.

It keeps evolving with the new trends and offers the best services with its various editions for specific industries such as Google Workspace for Finance, Google Workspace for Businesses, Google Workspace for Healthcare, Google Workspace for Schools, and Google Workspace Non-profits.

Google workspace for Financial Industry has been working as an impressive tool for organizations in the Finance Industry. It offers a streamlined work process on an innovative, up-to-date, powerful, and easy-to-use platform to ensure greater efficiency and boost productivity with tools for effective communication & collaboration.

What is the Google Workspace?

Google launched, Google Workspace is an office app suite on a subscription-based service. Initially launched in 2006 as a collection of applications for organizations, a set of software as a service for cloud computing, productivity tools, and collaboration under the name, Google Apps for Work, and Google for businesses for Enterprise users. It was rebranded to G-Suite in 2016 and then to Google Workspace in 2020.

Google Workspace offers free and basic services of Google along with added benefits, features, services, and tools for boosted productivity, fast communication, swift collaboration, and enhanced efficiency.

It offers premium features such as custom Gmail id, boosted Google Drive storage. It also offers tools for communication such as Google Hangouts Meet & Google Hangouts Chat with a higher number of participants. Share Drive of Google Workspace adds collaboration along with Google Docs, Google Sheets, and Google Slides.

Google Calendar offered by Google workspace also offers advanced features for scheduling meetings & routines and with Google Forms, it gives the option to collect data from various sources.

Google Workspace also offers administrative tools for management, advanced settings, 24/7 phone and email support, and an ad-free secure environment.

More About Google Workspace here: What is Google Workspace? How to Get Started with It?

Google Workspace Tips for Finance

Google Workspace offers world-class service to all kinds of industries and organizations but when it comes to Financial Industry Google Workspace presents its true potential, with easy-to-manage Financial Models by real-time metrics, easy creation, and sharing of data, and effective communication, and more.

Google understands the need and requirements for the Finance Industry and incorporated all that was needed into the Google Workspace for Finance.

Google Finance Function makes the process of Corporate Finance like Budget Planning, Project Proposal’s Development, Financial Statements, Financial Spreadsheets, and other Financial Planning easy and streamlined.

Google Finance Function is backed up by the latest technology, robust AI support, and secured with the security system of a globally leading IT Enterprise that is Google Inc.

Google Workspace for Finance seeks to provide much-needed tools, services, and robust support to organizations in the Finance Industry, but many aren’t able to harness the full potential of Google Workspace in the Finance Industry.

To solve the problem, here are some of the best tips for using Google Workspace for Finance.

1. Build Financial Models to Assess Projects

Google Spreadsheets allows building financial models and helps to find out if the proposed project is worthwhile or not. 

Using Financial models one can assess the project with respect to the internal rate of return, return on investment, and net present value.

2. Show Profit Variations with Tables & Charts

Google Workspace for Financial Industry helps to analyze the change in profits of the company with Waterfall Charts and group total sales from different regions with Pivot Table. In addition, one can also add other tables, charts, and graphs for a better representation of data.

3. Easily Create & Swiftly Collaborate on Budget Proposals

With Google Docs offered by Google Workspace, one can easily create documents for budget proposals of projects and share them with colleagues for their feedback.

The whole team can work with one shared document with real-time sync and can update edits, share suggestions and add comments then and there. It also gives the option to go back to the previous version of the document in case one wants to revert back.

4. Real-time Brainstorming concerns and strategies

Teams in the Financial Industry often need to go through brainstorming sessions to address concerns and formulate strategies and budget planning. 

With Google Meet from Google Workspace, the whole team can join together from anywhere into video meetings and collaborate to come up with decisions.

5. Easy Access, File Management, and Sharing

Corporate Finance has to work along with various other departments, such as marketing, sales, and more. 

This factor calls for easy sharing of data and file management, with Google Workspace one can make groups, to communicate and share using email.

6. Built-In Templates for Financial statements and Budgets

Google Workspace also provides a catalog of templates in Google SpreadSheet to easily create financial statements and budget planning. 

With these templates the work becomes minimal and one can easily create financial statements, balance the books and track annual income and expenses.

7. Organizing Financial Information with Functions

Google SpreadSheets makes it easy to bring order and meaning to financial data. 

It helps to move financial data from several spreadsheets into a single spreadsheet with various functions such as IMPORTRANGE or GOOGLEFINANCE to harness their functionalities.

8. Presentation for Proposals and Planning Objectives

Google Workspace also offers the option to create presentations for proposals or planning objectives with Google Slides. 

With Google Slides one can either choose to prepare a presentation on existing templates or create a new one from scratch with key objectives, project milestones, planning initiatives, and more. 

Thanks to the collaborative nature of Google Slides one can easily share the files within a team or others.

9. Real-time Data Visualizations & Metrics for Sites

Data Visualization and Analysis are important parts of the Financial Industry. With Google Sites offered by Google Workspace, one can easily create an internal team website to host data such as key metrics on topics, such as budgets, ROI, as well as links to important documents.

10. Additional Business for Accounts & Finance

To increase functionalities and for many other reasons, Google Workspace offers a plethora of business tools dedicated to accounting and finance that can be either applied directly to Google apps like Gmail, Sheets, Drive or indirectly to Google Workspace to increase productivity.

11. Google Cloud for Financial Services

With Google Workspace, Google offers cloud transformation solutions across the Finance Industry such as banking, capital markets, insurance, and more. Adding the cloud services supports data-driven innovation, enhances user expectations, and upgrades security & compliance.

Conclusion:

With Google Workspace for Finance, a finance team of an organization or a financial organization can harness the true potential of the office suite and can enable themselves with boosted productivity, enhanced efficiency, and robust security. 

To make organizations & teams familiar with the benefits and features of Google workspace for Financial Industry, Google also offers a 14-day free Trial to avail.

SA Technologies is an authorized Google Workspace Partner and has been helping organizations to thrive with top-notch consultancy, help, and management in the selection and implementation of digital solutions for over a decade.

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