Is Excel a Security Risk?

Microsoft Excel is a popular program that companies worldwide use because of its range of features. Since its release in 1985 (for Mac), Excel has become more advanced with its ability to do data simulations and create pivot tables. 

Despite its advantages, there are some questions people raise. For example, can you safely work in Excel without the worries of hackers? Is Excel a security risk? This guide shows why some people have concerns with using this spreadsheet software for sensitive information. 

Does Excel Lack Security Features?

A primary concern for Excel is its lack of security features. Excel is a frequent target of hackers of the Microsoft Office Suite because it often contains sensitive data.

If an employee opens an email attachment with malware, it can easily compromise your Excel spreadsheets and jeopardize a company’s entire system.

Additionally, malicious file extensions are an issue the Microsoft Office Suite faces. Programs like Excel are among the most common vehicles for malware compared to other software.

Is Password Protection Enough?

One way Excel users can protect their spreadsheets is by using password protection. Unfortunately, this method is one of the few measures they can take. Cell locking and macro protection are other ways to secure a spreadsheet, but these methods are often insufficient. 

Hacking spreadsheets has become easier with software these days. There are many programs on the internet a cybercriminal can use to crack passcodes even if they’re strong.

Companies often use programs like John the Ripper to test the strength of their passwords and programs. Unfortunately, hackers can use it to infiltrate protected Excel sheets and steal sensitive data. 

Can You Track Changes in Excel?

One of the downsides to Excel is it’s less than optimal as a collaboration tool. While multiple people can work on the same file simultaneously, anybody can make changes without your knowledge.

In addition, Excel doesn’t alert the file owner on who made changes and where the alterations are. As a result, this software is best for users who fill out spreadsheets by themselves. 

People with unauthorized access or employees with malicious intent could enter fraudulent data into the spreadsheet. Without the ability to audit, you’ll have difficulties determining who inputs incorrect information.

Even if somebody did it accidentally, inaccurate data leads to issues with a company’s financials and reputation. 

Is Excel Cloud-based?

Another issue for Excel is that it doesn’t use cloud services. Microsoft has unveiled Office 365, which includes a cloud for the Office suite. Some companies have turned to services like OneDrive to keep track of their files, but many still use the non-cloud version, posing a security risk. 

Users operating a non-cloud version of Excel have to use methods like email to send their attachments back and forth or use a shared server.

Then, you have to reshare it as you update the spreadsheet. Email can be a hazardous way to send Excel attachments back and forth. Spoofing is a common occurrence with hackers these days. They can pretend to be a coworker sending you an extension, but it contains malware. 

Using the cloud-based version of Excel makes processes safer and more efficient. Cloud services have automated software updates that will patch any bugs or backdoors criminals use to hack.

They also back up your data often, so if thieves try a ransomware attack, your information is safe with backups, saving time and money for companies worldwide.     

Are Remote Workers at Risk?

Remote work increased slightly before 2020, but COVID-19 has shifted many industries and sent people to work from home. About 60% of American workers say they can do their job primarily from home.

The rise in remote work also presents security risks for companies that hire teleworkers. 

These new employees may use their personal hardware if the company doesn’t send them devices. Providing employees with a virtual private network (VPN) can be an excellent start, but their data can be vulnerable.

For example, remote workers who use Excel sheets and send them to coworkers without cloud services put themselves and others at risk. In addition, their hardware’s security features are likely not as strong as they would be if they were on a computer in the office.