Following up on Sam's reply, Live API Creator provides an API project sample that does exactly this....it's documented here:
CSV Import - 3.0 Live API Creator
As provided, the solution will support CSV files, but can be modified to support Excel directly with a quick library swap. If you're interested in evaluating Live API Creator, there's a free trial available from http://trials.ca.com/. We can provide assistance on this use case as you get up and running.