Many AI-powered tools automate workflows in Excel. Finance teams can leverage these tools to automate manual tasks like data cleaning, report generation, and even data categorization.
Beyond low-level manual processes, AI tools in Excel handle more complex and in-depth tasks, such as scenario analysis, financial forecasting, budgeting, and trend analysis.
You can generate actionable insights from data in less time than before, devise more effective strategies, and optimize decision-making.
There’s an AI tool for almost every task you can do in Excel. Popular tools include:
AI has reshaped financial planning and analysis processes. It is enabling finance leaders to:
With AI tools streamlining your Excel workflows, you can stay ahead of the competition and market. All of these tools can result in better strategic planning and decision-making.
But what AI tools should you be using?
Let’s review some of the best AI Excel tools on the market.
Best for: Cube’s simple and intuitive experience makes it an excellent choice for FP&A teams looking for a scalable, robust AI-powered financial planning tool at a reasonable price.
Cube is a cloud-based FP&A platform that helps companies hit their numbers without having to sacrifice their spreadsheets. Cube meets FP&A teams wherever they work—Excel and Google Sheets.
With Cube’s flexible AI-powered platform, you can hit your numbers without sacrificing your spreadsheets. Eliminate all the manual, repetitive work and focus on what matters the most—making strategic decisions that drive better business performance.
Cube offers a dashboard creator that lets you see and explore data in Excel in depth. The platform lets you:
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Ready to give Cube a try? Book a free demo.
Best for: Generating custom spreadsheet formulas and SQL queries
GPTExcel is an AI-powered Excel formula generator that enables businesses and individuals to streamline their Excel processes.
Finance leaders can use GPTExcel to generate custom formulas and automate complex financial calculations, modeling, analysis, and reporting.
The platform also enables finance teams to generate automation scripts, such as VBA scripts for Excel, to automate and streamline repetitive tasks like data entry, validation, filtering, and building custom financial dashboards.
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Best for: Writing Python scripts for data cleaning and analysis
Formulas HQ is a software platform for Excel and Google Sheets users. It offers AI-powered tools to generate formulas, VBA code, and regular expressions.
The platform aims to simplify spreadsheet tasks, automate processes, and assist users in creating more efficient workbooks across multiple languages.
Finance teams can use it to streamline financial modeling, data analysis, and reporting tasks.
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Best for: Using VBA to perform tasks in Excel
AI ExcelBot enables users to generate formulas in Excel using simple text instructions. The platform offers built-in financial functions and formulas, such as ACCRINT, AMORLINC, DDB, and DISC.
FP&A teams can use this tool to automate formula generation and get simple explanations of complex formulas. AI Excelbot offers VBA code support for teams using VBA for tasks like data analysis, financial modeling, and forecasting.
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Best for: Experimenting with prompt structures, collaborating on GPT inputs and outputs, and prototyping AI features
Numerous.ai lets people use ChatGPT inside Excel and Google Sheets. Users can create content in spreadsheets, extract keywords, and classify or summarize input.
Finance teams can use it to clean, summarize, and categorize financial data in Excel. They can also use ChatGPT inside cells and formulas and train the AI tool to automate financial processes.
The platform also lets users generate complex formulas and get explanations for formulas using text prompts.
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Pricing: Prices are not listed on the website.
Best for: Managing any project’s processes
ClickUp is a project management tool that enables users to manage any project through customizable views like lists, gantts, and boards.
It has an AI assistant for users to automate their work and integrates with other apps like Notion, Asana, Miro, Trello, and Excel.
FP&A teams can integrate ClickUp with Excel to enhance workflow automation and data analysis. They can automate data updates between both platforms, combine task management with financial analysis, and create comprehensive qualitative reports.
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Best for: Learning Excel VBA and understand how existing VBA code works or debug existing scripts
Ajelix is a data analytics platform that offers business intelligence and AI tools for Excel and Google Sheets.
It also has other AI-powered tools, such as data visualization, SQL generator, answer generator, and virtual assistant.
Finance teams can use Ajelix to speed up reporting and data analysis tasks in Excel. It enables them to generate formulas to analyze large datasets, build complex trend analysis and forecasting formulas, and compile multiple related formulas into one to reduce analysis time.
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Best for: Training an LLM based on business data and building a personalized AI model
Arcwise AI supports data analytics, visualization, and modeling. It lets users maintain a centralized data warehouse and create a custom AI model using their business data.
Arcwise AI integrates with tools like Hubspot, Salesforce, Google Analytics, and Stripe.
FP&A teams can integrate Arcwise with Excel to automate data visualization, build charts and graphs, and drill down into data points to uncover insights. They can also generate and share reports from any size of data.
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Pricing: Pricing is not available online.
Best for: Automating data visualization
Excel Formula Bot is a data analysis platform that enables users to explore, analyze, and visualize data in Excel.
It can convert text into spreadsheet formulas, SQL queries, and advanced data models, and it can also convert PDFs into spreadsheets.
Excel Formula Bot offers an AI data analyzer that finance teams can use to generate insights, tables, and charts automatically by simply asking a question. The platform enables them to upload and combine data from multiple sources to Excel and translate data into charts for visualization.
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Best for: Exporting data in spreadsheets as PDFs or bulk emails
SheetGod generates VBA code and app scripts to automate tasks in Excel and offers step-by-step tutorials to users on how to automate basic tasks.
Finance leaders can use SheetGod to manage large data sets, extract specific information from Excel, and apply complex queries.
The platform also lets users send bulk emails, PDFs, and reports using data stored in spreadsheets.
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Pricing: Pricing is not available on the website.
Best for: Automating financial research
PromptLoop enables users to automate research. Its AI crawls the internet to extract data about companies, deals, and leads based on inputted queries. It also lets users build and augment personalized datasets.
Finance teams can use PromptLoop in Excel to clean and format large datasets. Its labeling and categorizing tools automatically categorize revenues, expenses, and other financial data. They can also use the platform to automate research, such as market trends and competitor analysis.
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Best for: Transforming plain texts into Excel formulas
Excelly-AI lets users upload XLS files and generate formulas using data in the files.
It turns plain text into Excel formulas and also provides explanations for every formula generated. It also checks the column schema of individual spreadsheets.
Finance teams can use Excelly AI to write more personalized prompts for spreadsheets and also integrate with Slack to perform analysis while working within Slack.
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Best for: Generating and getting detailed breakdowns of VBA scripts
Formularizer offers a simple platform similar to ChatGPT. It has an AI formula assistant, regex assistant, SQL assistant, and VBA assistant.
Finance teams can use Formularizer to generate more accurate Excel formulas, queries, and scripts by inputting sample data from existing Excel sheets.
Formularizer also stores all formulas users generate and provides a history that users can access at any time to compare formulas used in the past to current formulas.
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Pricing: Pricing is not available on the website.
Best for: Converting English prompts into Excel formulas
Formula Dog automatically turns English into Excel formulas, VBA code, regex code, and SQL.
It provides explanations for transformed formulas, code, and SQL; users can also transform existing code/formulas into English.
Finance teams can use the tool to convert their spreadsheet, VBA, and regex problems into formulas and speed up financial analysis.
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AI tools for Excel will help you streamline your FP&A process for speed and accuracy. You can automate repetitive tasks, giving your team more time to focus on coming up with smart strategies to grow your business performance.
The best tool to use is one that offers a centralized platform that not only lets you work faster in Excel, but also provides visibility into everything happening with your business data in real-time. It should let you connect all the tools you work with together.
Book a free demo to see how Cube can help you optimize Excel and unlock the full potential of your business processes.