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Dear Anhishek,
Thanks for your updates. I'm afraid that the VLOOKUP formula may not work in two different workbooks in Excel for the web. As a workaround, you may use Power Automate to grab the data from an external file and update the external data in your file where you use the VLOOKUP formula. Then you can update the formula values from the external file.For example, you update the VLOOKUP formula values in Sheet1 in Book1. The reference data is in Sheet1 in Book2. You can use Power Automate to grab the updated data from Sheet1 in Book2 and update the data in Sheet2 in Book1 and then the VLOOKUP formula grabs the data from Sheet2 in Book1. This will complete making the formula update the data from Sheet1 in Book2 automatically. You can set the flow to be ran in a specific period.![](https://learn-attachment.microsoft.com/api/attachments/7b80d929-94fc-4de3-bb3e-b94882608310?platform=QnA"https://learn-attachment.microsoft.com/api/attachments/283cd200-18fa-4b21-8679-10c5b9f1aff7?platform=QnA" rel="ugc nofollow">![](https://learn-attachment.microsoft.com/api/attachments/283cd200-18fa-4b21-8679-10c5b9f1aff7?platform=QnA"https://learn-attachment.microsoft.com/api/attachments/12d82e3e-8cc1-46f9-87a0-d3dc2515a9e2?platform=QnA" rel="ugc nofollow">![](https://learn-attachment.microsoft.com/api/attachments/12d82e3e-8cc1-46f9-87a0-d3dc2515a9e2?platform=QnA"https://learn-attachment.microsoft.com/api/attachments/70b68021-3cbe-403b-a077-28eb9a45eb53?platform=QnA" rel="ugc nofollow">![](https://learn-attachment.microsoft.com/api/attachments/70b68021-3cbe-403b-a077-28eb9a45eb53?platform=QnA