Why Python replaces Excel in banking

[jim2007]

literally 100s of years

You meant to say 100's of accumulated years, right?

Nope, the Italians invented double entry bookkeeping in the 1400s and we’ve been using some form of spreadsheet ever since. Spreadsheet programs are popular because they automated and extended a process that was already there. The vast majority of spreadsheet users don’t write complex macros or anything like the used it to record and validate data - simply math, no more.

Over the past thirty years I’ve worked on countless projects to automate accounting/finance/banking processes. And we still employ armies of clerks in accounting. The business has got more complex and there are always issues to be investigated, so we hire non graduates armed with spreadsheets to do it. And I doubt very much people capable of coding want to do this work - do you really want to spend your week trying to figure out why Joe’s invoice was off by 11c and know the week after you are going to get to investigate why Sally’s salary was off by $1?

Python has the potential to replace the perhaps 10% of complex spreadsheets built by business professionals, but the spreadsheet will remain the work horse for most people working in that area.