FP&A (Financial Planning and Analysis) software is typically designed to meet the specific needs of finance professionals, CFOs, financial analysts, and other stakeholders involved in financial planning and analysis. Also, this process includes such activity as budgeting, forecasting and scenario modelling.
FP&A solutions help organizations streamline financial processes, improve accuracy, and gain actionable insights to drive informed decision-making and achieve financial objectives.
There are several highly regarded FP&A software options available for businesses. The "best" software depends on the specific needs and requirements of your business. Below we provide you with a list of popular and widely used FP&A software solutions that are often considered among the top choices.
Spreadym is financial planning and analysis (FP&A) software that is totally Excel-native. The planning platform allows users to ease the planning, budgeting and forecasting process in the company.
Spreadym planning system support online supervision of data flow, so you can control the actual statement of cash flow at any time you need to increase the speed of crucial decision making and to comply with agility principles. Spreadym works as a corporate performance management system, so users can easily handle plan vs. actual analysis, what-if analysis or model several scenarios for future cash flow.
Spreadym planning software structures data in cube technics using In-memory database technology. That allows users to describe all corporate items in detail and easily build reporting and planning tables or templates for further fill-in and automatically provide necessary key metrics calculations. All elements such as formulas, forms, tables and data arrays are stored on the server and can be managed centrally directly within the FP&A platform.
Spreadym is totally based on an Excel engine that eases the issues of installation, implementation in business processes and adaptation for employees. Ordinary users can introduce any changes on their own without the assistance of a strong IT team.
Spreadym is an intuitive interface that can be the best solution for small and middle-sized businesses.
Moreover, financial planning software is absolutely integrable with other corporate software that allows users to set up regular data exchange and introduce all corporate information on a single data base.
Easy-to-install and easy-to-implement
Online control of data flow
Transparent logic of calculations for ordinary users
Collaborative workspace for several users at one time on one document
Plan vs. actual analysis and What-if analysis
Absolutely integrable with third-party software
Easy-to-build flexible spreadsheets
For essentials tariff plan $750/month per 5 users
For premium tariff plan $1350/month per 25 users
The terms for enterprises are define upon quotation.
Anaplan is a cloud-based platform that provides flexible planning, budgeting, and forecasting solutions. It enables collaboration and offers a wide range of functionalities, including scenario modeling, data integration, and predictive analytics.
Total data and methodology compliance
Agility of analysis methods
Single source data management
In-depth analysis and planning
Vena is a complex planning platform that helps merge corporate workflow into one process. Vena offers pre-built solutions to automate time-consuming tasks so you can spend less time checking and more time doing it. Vena’s features include financial planning and analysis, integrated business planning, financial reporting, regulatory compliance reporting, and financial close management.
Self-serve access to data analytics without the necessity of instant assistance of IT services
Online tracking of business performance
Centralize data and metadata management
Cube is an FP&A platform that provides real-time financial and operational data access. It enables strategic planning, reporting and analysis within a usual spreadsheet environment, with flexible use cases across functions.
Spreadsheet-native FP&A software
Provide real-time insights in finance statement
Easy-to-build Flexible spreadsheets
Essential capabilities: $1250/month per 4 users
Premium capabilities: $2450/month per 8 users.
Advanced capabilities: upon quotation.
Used to streamline business-wide planning, consolidation, reporting and visual analytics, Planful lets you see performance data at scale, automate, improve reporting and align planning processes. Their financial performance management software is meant largely for bigger FP&A teams and CFOs looking to streamline their planning efforts.
Unified methodology of reporting
Datarails is a financial planning and analysis platform that offers automation, visualization and consolidation capabilities. Finance teams can benefit from the spreadsheets and financial models of Excel while automating their financial reporting and planning.
Support modules of financial budgeting, planning and reporting
How to choose the best FP&A solution for business?
Choosing the best FP&A software for your business requires careful consideration of various factors. Here are some key steps to help you make an informed decision:
Identify your business needs
Start by clearly defining your FP&A requirements. Consider factors such as the size of your organization, the complexity of your financial processes like planning and budgeting, the number of users, the level of data integration required, and the specific functionalities you need from an FP&A platform.
Set a budget
Determine the budget you are willing to allocate for an FP&A software. This will help you narrow down your options and focus on solutions that fit within your financial constraints.
Research available options
Conduct thorough research on the FP&A software solutions available in the market. Consider factors such as features, functionalities, scalability, ease of use, integration capabilities, reporting capabilities, customer support, and pricing models.
Evaluate the user interface and user experience
A user-friendly and intuitive interface is crucial for widespread adoption and efficient use of the FP&A platform. The best option can suggest FP&A solutions that are based on spreadsheets and are Excel-native. Consider conducting product demos or free trials to assess the platform's usability and user experience.
Scalability, flexibility and agility
Assess whether the FP&A platform can accommodate your business's growth and changing needs. Determine if the platform allows for customization, integration with existing systems, and the ability to handle complex financial modeling or scenario analysis, what-if analysis and plan vs. actual analysis tools.
Data integration and security
Evaluate the platform's data integration capabilities. Check if it can connect with your existing financial systems and databases seamlessly. Also, consider the security measures in place to protect your financial data.
Consider future needs and growth potential
Anticipate your organization's future requirements and determine if the chosen FP&A platform can accommodate those needs. Consider factors such as international expansion, multi-currency support, additional reporting capabilities, and advanced analytics.