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Excel templates can significantly streamline the process of designing and standardizing forms and reports, with numerous free templates available for all users. They are compatible with both the Excel desktop app and Excel online. This video tutorial explains how to locate these templates in the Excel desktop app. To access them, connect to the internet, then click on the File Tab and select 'New'. Users can browse by categories or enter specific search terms, such as 'tracker templates'. Clicking on a template thumbnail reveals additional information, including the developer's details, and users can navigate through other templates using arrow keys. To download a chosen template, simply click the 'Create' button.