40 years of Microsoft Excel: Q&A with GoCardless CFO Catherine Birkett

Despite the rise of cloud platforms, automation, and AI, new research from iplicit reveals that finance leaders still see Excel as an indispensable tool, with 88% saying AI will enhance, not replace, it.

To mark the anniversary, asked a range of CFOs on their take on how Excel has shaped their careers and where it sits in today’s finance function.

First up in our Q&A series is Catherine Birkett, Chief Financial Officer, GoCardless. 

1. Looking back over your career, how has Excel shaped the way finance professionals and CFOs like yourself work? Has its importance dwindled over time, or does it remain as mission-critical today as it did 40 years ago?

“Excel's flexibility and power have made it a go-to tool for financial modelling in fast-changing environments throughout my career. While it may not be the only tool anymore, it's still adaptable and a critical piece of our work. The constraint today isn't the hardware, but our own imagination in how we use the new tools available to us.”

2. In your view, where does Excel continue to add the most value for finance teams/business leaders today, and where does it fall short?

“Excel still adds immense value in its adaptability and power for things like financial modeling and ad hoc analysis. However, it can fall short when it comes to scalability; as you grow your Excel sheets will inevitably become more complicated and maintaining them could require a lot of manual work. This is where automation and more integrated systems become essential.”

3. With cloud platforms, automation, and AI now commonplace, how do you see Excel’s role evolving in the next 5–10 years?

“I believe Excel's role will evolve from a primary system of record to a powerful tool for interpretation and analysis. As other systems handle the basic data management, we can use Excel to focus on what the data actually means for the business, identify trends, and develop predictive and prescriptive analyses to help shape our future. This also depends, of course, on having a team that understands the needs of the business. Excel is and always has been a tool. You need people who understand what you’re trying to learn from the data, and the best ways to apply that insight.”

4. What advice would you give to fellow CFOs/business leaders about striking the right balance between leveraging Excel and embracing more automated, integrated finance tools?

“The key is to leverage the right tools for the right job and focus on adding value. Use automation to take care of the heavy lifting, like payment processing and routine reporting, which frees up time for more strategic work. We need to arm ourselves with the right tools and people to interpret data and use it to drive business strategy, rather than just manage it.”

• Learn how iplicit connects effortlessly with Excel to keep your reports live, accurate, and error-free. Find out more