FP&A software is a category of tools designed to help finance teams plan, budget, forecast, analyze and report on financial performance. These platforms sit between the ERP (which stores actuals) and BI tools (which visualize data), providing the modeling, collaboration and workflow capabilities that spreadsheets cannot sustain at scale.
This guide covers what FP&A software does, how it differs from adjacent tools, core capabilities to evaluate, the current market landscape, when to make the move from Excel and how to think about selection.
What FP&A Software Does
At its core, FP&A software provides a structured environment for building financial models, running planning workflows and analyzing results. The capabilities break into four areas.
Planning and modeling
Driver-based models, scenario analysis, what-if simulations and multi-dimensional planning that connect operational assumptions to financial outcomes.
Budgeting and forecasting
Collaborative workflows for annual budgets and rolling forecasts with version control, approval chains and contributor management.
Reporting and analysis
Management reports, variance analysis, dashboards and ad-hoc analysis that pull from the same data model used for planning.
Data integration
Connections to ERPs, CRMs, HRIS and other source systems that bring actuals and operational data into the planning environment.
FP&A Software vs ERP vs BI
These tools are complementary. The ERP provides the actuals. FP&A software models the future. BI visualizes both. Most finance teams need all three.
When to Move Beyond Excel
•FP&A team of 3 or more analysts
•Multiple departments contributing to budgets
•Rolling forecasts or frequent re-forecasting
•Scenario planning beyond a single what-if
•Version control problems and broken links
•Audit trail requirements for SOX or similar
•More time consolidating data than analyzing it
•Leadership asking questions Excel cannot answer quickly
If your team spends more time maintaining models than using them, it is time to evaluate dedicated software.
The Market Landscape
The FP&A software market includes enterprise platforms designed for large, complex organizations and mid-market tools built for faster deployment and ease of use.
Enterprise platforms include Anaplan, OneStream, Workday Adaptive Planning and Oracle EPM Cloud. Mid-market options include Planful, Vena, Pigment, Datarails and Cube. The boundaries between segments are blurring as mid-market tools add enterprise capabilities and enterprise platforms simplify deployment.
Browse vendor profiles for detailed comparisons, or read our FP&A Buyer's Guide for a structured evaluation framework.