Financial Planning and Analysis (FP&A) Software
Best Financial Planning and Analysis (FP&A) Software include:
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The SAP Analytics Cloud solution brings together analytics and planning with integration to SAP applications and access to heterogenous data sources. As the analytics and planning solution within SAP Business Technology Platform, SAP Analytics Cloud supports trusted insights and…
Oracle Cloud Enterprise Resource Planning (ERP) is a core suite of Oracle Cloud software-as-a-service (SaaS) applications. Oracle Expense Management and Oracle Risk Management are part of this solution. Other apps include Financials, Revenue Management, Accounting Hub, PPM, and…
Vena Solutions provides a financial process automation solution to automate Corporate Performance Management, accounting and budgeting, Regulatory & Compliance, and other finance-related processes. It is scaled for medium to large-sized organizations.
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Prophix One, a Financial Performance Platform, is used to improve the speed and accuracy of decision-making within a harmonized user experience. To reduce complexity and uncertainty, the software offers automated insights and planning, budgeting, forecasting, reporting, and consolidation…
IBM Planning Analytics, powered by IBM TM1®, is an integrated planning solution designed to promote collaboration across the organization and help keep pace with the speed of modern business. With its calculation engine, this enterprise performance management solution is designed…
Cube is a financial planning & analysis (FP&A) platform that aims to enable finance teams to be more strategic and positively contribute to company growth activities by spending less time on manual, repetitive task, from Cube Planning headquartered in New York.
OneStream is an enterprise finance platform that unifies financial and operational data, embeds AI for better decisions and productivity, and can extend to meet the evolving needs of businesses without adding technical debt. Presented as an operating system for modern Finance, it…
Jedox is a Business Intelligence and Corporate Performance Management solution. According to the vendor, their solution’s unified planning, analysis and reporting empowers decision makers from finance, sales, purchasing and marketing. Additionally, the vendor says this solution helps…
MindBridge Ai Auditor is an AI powered auditing & financial risk assessment platform, from the company of the same name in Ottawa.
Limelight is a cloud-based FP&A platform designed to increase collaboration, productivity and time spent making intelligent, data-driven business decisions. The software integrates with ERP systems to centralize and leverage data to provide real-time insights for budgeting,…
Alplanir is an agile self-service business planning, forecasting and data analytics software, providing flexible and on-premises solutions with advanced integration capabilities.
Dryrun is a financial modeling software designed to offer automated and intelligent forecasting for businesses. It provides dynamic, up-to-date forecasts, equipping users to maintain complete manual control over their data. With Dryrun, users can engage in unlimited scenario modeling,…
Epicor Financial Planning and Analysis (FP&A) (formerly Performance Canvas Financials by DSPanel, acquired by Epicor in April 2023) is a cloud-based financial planning and analysis software. The cloud reporting, budgeting, forecasting, consolidation and KPI management software…
Equifax Ignite is a unified environment that combines the best of data and analytics with decisioning execution, providing:- Rapid access to unique, differentiated data for more predictive insights- Advanced attribute and modeling tools for automated deployment- Automated feedback…
Drivetrain.ai is a Strategic Finance platform that gives a single picture of how a company is performing and how to influence the business. Drivetrain is used for building financial models, flexible budgets, board ready reports and What-If analysis tools to drive better, faster decision-…
Developed by accountants, ConnectBooks is an eCommerce accounting software that ensures precision by syncing all data into Quickbook platforms, as well as Xero. ConnectBooks features daily reporting on P&L per SKU, COGS tracking, brand analytics, and comparison reports. ConnectBooks…
DataRails is an FP&A solution that automatically consolidates data from all existing organizational systems (ERP, GL, CRM, and HR data). It is designed so users can keep working on Excel while benefiting from automated data transformations.The vendor states users will enjoy…
Learn More About Financial Planning and Analysis (FP&A) Software
What is FP&A Software?
FP&A (Financial Planning and Analysis) Software is designed to help businesses and organizations analyze their financial data. Businesses use these products for financial planning throughout the business cycle, with scenario modeling features designed to predict future monetary activity. These financial forecasts are used by CFOs and FP&A teams to make forward-looking decisions for the long-term health of the business. These tools are beneficial in making common and more complex business decisions - helping organizations remain competitive, maximize profit potential, and maintain sustainability.
Businesses may use FP&A software to help with:
- Monitoring investments
- Budgeting
- Risk assessment
- Gauging financial health
- Financial planning
- Accurate analysis of financial data
- Following performance
- Forecasting and predicting the future impact of possible decisions
Budgeting/Forecasting Software is typically more geared toward smaller and mid-sized businesses to provide efficient, yet simpler solutions to be implemented in planning for future financial endeavors. CPM software is more commonly used by larger enterprises to provide service on an integrated platform for more advanced analytics processes.
FP&A software may be useful among various departments such as finance, accounting, sales, and marketing. Marketing departments may use the software to track campaigns and forecast future performance to decide where to allocate resources. Modern solutions such as cloud-based computing and artificial intelligence are now integrated into FP&A software to maximize efficiency, speed, and accuracy.
FP&A Features
Most products in the FP&A category have the following features:
- Budgeting, planning, and forecasting
- Financial reporting and compliance/Report output and scheduling
- Data analysis & visualization
- Real-time data updates and data importation
- Scenario-modeling
- Security and access control
- Granular integration with existing data sources
- General ledger and configurable accounting
- Subledger and financial process
- Risk management
- Customizable dashboards
FP&A Software Comparison
Things to consider when exploring FP&A products:
1. Learning Curve & Implementation: While obtaining a high-quality product is important, employees may run into a learning curve if a new product has significant differences or changes compared to the current software. Implementing a new system can take a long time, especially for organizations aiming to keep their current financial models. Selecting a product best suited for the business is key.
2. Organization size: FP&A software is typically suitable for businesses of any size. That said, larger enterprises may not need a standalone FP&A product if they purchase a larger one. Small and mid-sized businesses may benefit from an FP&A tool if they need capabilities beyond more basic budgeting and forecasting tools.
3. Integration Compatibility: Many products are compatible with current databases, however users may want to check on things such as CSV import/export integration capability, and making sure new software is compatible with existing tech. More complex software may be difficult to integrate with older or more basic products.
Pricing Information
Vendors do not typically display pricing information on these products, however custom quotes may be provided upon request. Many vendors offer a free trial for these products, with some offering a free version. Features such as premium consulting and integration services are often included with paid or more expensive plans. A setup fee is typically optional, with a few vendors making that a requirement.
FAQs
What does FP&A software do?
FP&A software provides organizations with beneficial tools used to analyze monetary data, budget, and plan for the future. This software may be used as an efficient and reliable source for forward-thinking solutions, with products available that are suited for small and large businesses. Users can implement financial data collected from various departments within an entity for maximum output.
What are the benefits of using FP&A software?
Benefits of this type of software include increasing productivity, maximizing profit, assessing risk, and guiding users to make knowledgeable and informed decisions in a more timely manner. Users of FP&A software have access to wide-range of benefits based on having a proficient tool for evaluation, analysis, and planning.
How much does FP&A software cost?
Vendors typically do not display pricing information, but quotes may be provided upon request. Many vendors do offer a free trial of these products, with some offering a free version of the software. Setup fees may be optional, but are sometimes required depending on the vendor.
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Frequently Asked Questions
What does FP&A software do?
FP&A software provides organizations with beneficial tools used to analyze monetary data, budget, and plan for the future. This software may be used as an efficient and reliable source for forward-thinking solutions, with products available that are suited for small and large businesses. Users can implement financial data collected from various departments within an entity for maximum output.
What are the benefits of using FP&A software?
Benefits of this type of software include increasing productivity, maximizing profit, assessing risk, and guiding users to make knowledgeable and informed decisions in a more timely manner. Users of FP&A software have access to wide-range of benefits based on having a proficient tool for evaluation, analysis, and planning.
How much does FP&A software cost?
Vendors typically do not display pricing information, but quotes may be provided upon request. Many vendors do offer a free trial of these products, with some offering a free version of the software. Setup fees may be optional but are sometimes required depending on the vendor.