FP&A Tools Comparison: Selecting the Right Planning Software
From spreadsheets to enterprise platforms—finding your right fit.
Key Takeaways
- •Excel works until complexity breaks it—usually around $10M-$20M revenue
- •Match tool investment to actual needs, not aspirational complexity
- •Implementation quality matters more than tool selection
- •Budget $500-$5,000/month for mid-market FP&A tools plus implementation
FP&A software ranges from free (Excel) to enterprise platforms costing $100K+ annually. The right choice depends on your complexity, budget, and team capabilities—not on what the vendor tells you or what larger companies use. Many growing companies work with a fractional CFO to evaluate options and implement the right solution.
This guide compares options across the spectrum to help you make an informed decision.
The FP&A Tool Landscape
| Category | Examples | Monthly Cost | Best For |
|---|---|---|---|
| Spreadsheets | Excel, Google Sheets | $0-$20/user | <$10M revenue, simple models |
| Entry-Level | LivePlan, Float, Fathom | $50-$300 | Small business, basic forecasting |
| SMB-Focused | Jirav, Mosaic, Runway | $500-$1,500 | $5M-$30M, growing companies |
| Mid-Market | Datarails, Cube, Vena | $1,500-$5,000 | $20M-$100M, complex needs |
| Enterprise | Adaptive Insights, Anaplan, Planful | $3,000-$10,000+ | $100M+, sophisticated FP&A |
Excel: The Default Choice
Excel remains the most common FP&A tool because it's flexible, familiar, and free (with existing licenses). Don't underestimate well-built Excel models.
Excel Strengths
- No additional cost
- Maximum flexibility
- Everyone knows it
- Quick to build and modify
- No implementation required
Excel Weaknesses
- Version control nightmare
- Error-prone (broken formulas)
- Manual data updates
- Doesn't scale well
- Limited collaboration
When to Stay with Excel
If your model is straightforward, you have one person maintaining it, and you can update actuals in under an hour monthly—Excel may be all you need. The test isn't company size; it's model complexity and maintenance burden.
SMB-Focused Tools
Tools like Jirav, Mosaic, and Runway are designed for growing companies. They offer significant upgrades from Excel at reasonable price points.
Common Features
- Accounting integrations: Pull actuals automatically from QuickBooks, Xero, NetSuite
- Driver-based modeling: Build forecasts from operational drivers
- Scenario planning: Compare multiple scenarios easily
- Dashboards: Built-in visualization without Excel charts
- Collaboration: Multiple users, comment threads, approval workflows
Tool Highlights
Jirav
Strong for services businesses and SaaS. Good balance of capability and usability. Starting around $500-$1,000/month.
Mosaic
Modern interface, strong for VC-backed companies. Good visualization and benchmarking. Starting around $1,000/month.
Runway
Startup-focused with clean UX. Good for companies under $20M who want simplicity. Starting around $500/month.
Mid-Market Platforms
Companies with $20M-$100M in revenue and complex modeling needs often land in this category. These tools bridge SMB simplicity and enterprise capability.
Tool Highlights
Datarails
Excel-centric approach—keeps your spreadsheets but adds automation, consolidation, and governance. Popular with teams who love Excel but need better infrastructure. $2,000-$5,000/month.
Cube
Spreadsheet-native FP&A. Strong for complex multi-entity consolidation. $2,000-$4,000/month.
Vena
Excel-based with workflow and database backend. Good for companies with sophisticated Excel models they want to preserve. $3,000-$6,000/month.
Enterprise Platforms
Enterprise FP&A tools like Adaptive Insights (Workday), Anaplan, and Planful serve organizations with $100M+ revenue and dedicated FP&A teams.
Enterprise Tool Reality Check
Most companies under $50M don't need enterprise FP&A tools. They're expensive ($50K-$150K+ annually), require significant implementation investment, and need dedicated staff to maintain. Don't over-buy based on future aspirations.
When Enterprise Makes Sense
- Multiple business units requiring consolidation
- Complex multi-currency, multi-entity structures
- Workforce planning tied to financial planning
- Sophisticated allocation and driver methodologies
- Dedicated FP&A team (2+ FTEs)
How to Select a Tool
Follow this process to find the right fit:
Selection Process
Implementation Matters Most
A mediocre tool well-implemented beats a great tool poorly implemented. Budget for professional implementation services—either from the vendor or a consulting partner. Trying to self-implement to save money often costs more in the long run.
Related Resources
Need Help Selecting FP&A Tools?
Eagle Rock CFO helps companies evaluate and implement FP&A tools. We'll help you find the right fit for your needs and budget.
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