FP&A software FAQs

• What is financial planning and analysis (FP&A)?

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  Financial planning and analysis (FP&A) is the process of creating budgets, forecasting future revenue and expenses, and analyzing financial performance to help businesses make better decisions. Companies use FP&A to plan and track their financial health to make sure they’re on the right path to reach their goals.

   

  For example, an FP&A team might predict cash flow for the remaining quarters in the fiscal year to figure out how much to invest in advertising. Or, they might analyze past spending patterns to decide if the company can afford to upskill their employees by a certain date.

• FP&A software definition

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  FP&A software are tools that help businesses manage their financial planning and analysis processes. It can automate tasks like creating budgets, tracking performance, and forecasting future finances so finance teams can work faster and more accurately.

• How do you do FP&A?

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  Your FP&A approach will change based on your needs. If you want to create a budget, you can start by outlining your expected income and expenses for a set period, like a month or a year. If you want to forecast potential financial scenarios, analyze historical data, industry benchmarks, and market trends to build driver-based models that predict revenue, expenses, and cash flow over multiple scenarios.

• How do you choose the best FP&A platform?

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  Follow these steps to pick the right FP&A software for your business:

   

  • Identify your needs: List the specific tasks you need help with like modeling complex financial forecasts, automating data consolidations from multiple sources, reducing manual errors, or improving reporting accuracy.
  • Check integrations: Make sure the platform connects with your ERP, CRM, HRIS, and core spreadsheets—like Excel and Google Sheets—for consistent data flow.
  • Evaluate ease of use: Look for intuitive, no-code tools that let your team build reports, update budgets, and run driver-based forecasts without IT support.
  • Look for automation: Prioritize platforms that automate data consolidation, variance analysis, and financial report summaries to reduce errors and save time.
  • Consider scalability: Make sure the software supports multi-entity financials, global currencies, and advanced scenario modeling so it grows with your business.
  • Try a demo: Walk through building a report, adjusting a budget, and running a forecast to ensure the platform is fast, flexible, and useful to your finance team.

• What is the best FP&A sofware for startups?

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  Startups benefit from FP&A software that’s easy to use, scales with growth, and works within their existing tools. Cube is a great option because it integrates with spreadsheets like Excel and Google Sheets so you don’t need to learn a new system. It can help startups quickly build forecasts, track cash flow, and make smart financial decisions without spending hours on manual tasks.

• What is the best FP&A software for small businesses?

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  For small businesses, cost, ease of use, and flexibility are key factors when choosing FP&A software. Look for intuitive, no-code tools that don’t require extensive training and fit within your budget. Scalability is also important—your FP&A software should adapt as your business grows, handling more complex forecasts and multi-scenario planning without disruption.

   

  If you currently rely on Excel or Google Sheets, choose an FP&A solution like Cube that integrates easily with your existing spreadsheets. This allows you to keep your familiar workflows while accessing beginner-friendly, enterprise-grade forecasting, reporting, and automation.

• What does an FP&A team do?

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  An FP&A team helps a company plan its finances and track performance. They create budgets, forecast future revenue and expenses, and analyze results to make sure the business stays on track. This can include: 

   

  • Managing a single source of truth about the company’s financial health, as well as customized reports for various stakeholders to use.
  • Providing strategic insights to decision-makers on financial planning, risks, and opportunities.
  • Identifying cost-saving opportunities where the company can reduce expenditure without sacrificing quality. 
  • Writing budgets that align business operations with wider financial goals so the whole company can work toward common goals.
  • Comparing outcomes of various future scenarios to build a roadmap for scaling.