I have done this before, and the best way to do it is using Visual Studio (BIDS) on yuor server to import the spreadsheet, and update your database.
1. Open up your Visual Studio or BIDS (Shell version can do it)
2. Create a Business Intelligence Project
3. Create a SSIS bulk import process (.dtsx )
4. Create your control flow
5. Create Data Flow --> here specify the name of the Excel File, TabName, OLEDB Connection, columns to import, destination database, mappings, error controls, etc.
I am sure you can find some tutorial out there on the web regarding Integration Services.
Good luck.
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