Hyperlinks in tables and summary views

I would like to have columns in my tables that link to a specified url but display custom text instead of the link itself.

For example, in Excel, Google Docs and even Zoho Sheets there is a formula to display text with a hyperlink: https://sheet.zoho.com/functions#HYPERLINK

e.g. HYPERLINK(linkaddress; celltext)

Is there a workaround for this without having to create two columns for both the text field and the url?

Is there any way to make this available for Zoho Reports? This would be great to have across all views (Tables, Charts, Summary etc...)