Parse data uploaded from File Upload field

Parse data uploaded from File Upload field

Say I put a file upload field in my form where my users upload an excel file.
How do I parse the file data?
I would like the data to be uploaded on Zoho Reports but I can't directly upload the file because I have to process the data first like separating a text, replacing a specific text inside the excel file, format the texts inside excel and so on, before uploading it to Zoho Reports. 

Just in case you were wondering why can't we just format the excel file before uploading, we want it automated because we have a lot of file uploads to do and we can't do it one by one so we need to automate this process and automatically upload the data to Zoho Reports.

Is it possible?