No, they don't. Our finance teams, accounting, B&S, purchasing etc. also all disagree with your take.
There also is no "fireable offence" structure here, we aren't a US-company and we have strong labour protections here. They themselves chose how they want their processes to work, and none of them ended up with Excel in the main process loop, anywhere.
Perhaps this is something you cannot imagine, but over here, this has been the standard for years. And it pays dividends.
This does not mean excel doesn't exist or isn't used outside of the main processes/loops/flows. But that is what I wrote in my first comment here, which people seem to skip over.