In Excel, anyone can update a spreadsheet who has access to it. It’s just a spreadsheet that someone updates by hand.
However, if you are using a database and a platform like SharePoint, only people with the proper permission can edit fields. Whereas in a spreadsheet, anyone who has the spreadsheet can edit whatever they want.
If you have all your financial data in Excel, why would you let someone who is not in accounting make official edits to financial data? There are no controls on the data in a spreadsheet.