BUYER'S GUIDE
How to Choose FP&A Software: The Complete Buyer's Guide
Everything you need to know about choosing FP&A software: features, implementation and the questions worth asking.
3 min read
What is FP&A Software?
Financial Planning & Analysis (FP&A) software organises the core processes that finance teams perform: budgeting, forecasting, reporting, and scenario analysis. Instead of juggling dozens of spreadsheets, an FP&A platform gives you one version of the numbers, with data from your ERP, CRM, HRIS and other systems brought together in one model.
Modern FP&A tools increasingly include AI capabilities—from anomaly detection to natural language queries—that help finance teams move from data wrangling to strategic decision-making.
Signs You've Outgrown Excel
- Budget cycles take more than 2 weeks
- You're merging spreadsheets from multiple departments
- Formula errors have embarrassed you in board meetings
- Version control is a constant headache
- You can't get up-to-date figures without manual exports
- Your company has grown past 20 employees
Key Features to Look For
Budgeting & Planning
Driver-based models, templates, approval workflows
Forecasting
Rolling forecasts, scenario modeling, AI explanations of what changed
Reporting
Management dashboards, scheduled reports, board packages
Integrations
Data from your ERP, CRM and HRIS brought into one model, plus Excel/CSV import
AI & Automation
Natural language queries, anomaly detection, agents
Collaboration
Comments, mentions, approval flows, audit trails
Leading FP&A Tools
| Tool | Best For |
|---|---|
| OnePlan | Financial operating system for SMEs, with Aurora inside (available) |
| Cube | Spreadsheet-connected planning |
| Jirav | Small businesses |
| Pigment | Modern mid-market planning |
| Vena | Excel-native teams |
| Datarails | Excel power users |
| Anaplan | Complex global enterprise |
| Workday Adaptive | Workday ecosystem |
An indicative view of each tool's positioning. Confirm prices, implementation timelines and features with each vendor.
How to Evaluate FP&A Software
Define Your Requirements
- What problems are you trying to solve?
- What's your budget?
- What integrations do you need?
- How many users will need access?
Create a Shortlist
- Based on your company size and needs
- 3-5 tools maximum
- Include both established and modern options
Request Demos
- Come with specific scenarios to test
- Involve end users, not just decision makers
- Test with your own data if possible
Check References
- Talk to similar companies
- Ask about implementation and support
- Read recent reviews from verified users
Negotiate and Decide
- Get pricing in writing
- Understand implementation scope
- Clarify ongoing support and training
FAQs
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