In 2025, the FP&A (Financial Planning and Analysis) software market has expanded to include over 150 vendors worldwide. However, only a select few marquee vendors have committed to delivering Excel-based FP&A solutions. While FP&A software doesn’t necessarily need to be Excel-based, as many tasks like roll-ups, charting, and data visualization can be achieved through web views, Excel-based solutions still offer distinct advantages. If your organization requires specific functionalities, Excel-based software might be the right fit.
In this article, we’ll address the following questions:
- Why use Excel-based software?
- The state of FP&A software in 2025
- FP&A software pricing
- Top vendors:
- PivotXL
- Cube
- Data Rails
- Vena Solutions
Why Use Excel-Based FP&A Software?
1) Familiarity with Excel Reports
Management and other stakeholders are accustomed to receiving reports in Excel. With Excel-based FP&A software, finance users can process data, generate relevant insights, and send final reports with just a few clicks.
2) Drill-Down Capabilities
While high-level data summaries are useful, there are instances where users need to drill down into transactions. Excel’s strong compatibility allows users to access linked cells and explore details across multiple dimensions seamlessly.
3) Ease of Custom Calculations
When creating metrics, ratios, or forecasts, Excel shines. It allows users to set up input cells, define calculations, and quickly retrieve or send data, making it ideal for dynamic financial modeling.
4) Integration with PowerPoint
For creating presentations, Excel simplifies the process. Users can build charts and graphs within Excel and link them directly to PowerPoint objects for seamless updates.
The State of FP&A Software in 2025
Over the past few years, FP&A software has attracted hundreds of millions in funding. However, a funding winter has now set in, and many investors are demanding returns. As a result:
- Several well-funded startups have either closed down or been acquired due to lack of growth funding.
- Customers face risks when selecting vendors, making it crucial to choose players with sustainable business models and long-term viability.
Excel-Based FP&A Software Pricing
With more than 150 vendors, the feature set, quality, and pricing of FP&A software vary widely. When it comes to pricing, here are some key differences in Excel-based FP&A software:
- Most vendors charge upwards of $2,000 per month for their software.
- Enterprise-level contracts can reach into millions annually.
- PivotXL is a notable exception, offering a more affordable option with pricing starting at just $100 per month.
- This makes it particularly attractive to SMEs (small and medium enterprises) and fractional CFO firms looking for cost-effective solutions.
Top Vendors in Excel-Based FP&A Software
PivotXL
- Strengths: Robust add-in with features like cell mapping, bulk mapping, filter functions, and data synchronization (get/send data).
- Pricing: Starting at $100 per month, making it accessible to SMEs.
- Positioning: A cost-effective choice for businesses looking for an affordable, Excel-compatible FP&A solution.
Cube FP&A
- Strengths: Offers an Excel add-in, though details about its functionality are limited.
- Pricing: Starts at $2,000 per month, making it less accessible to SMEs.
- Challenges: As a New York-based startup, Cube may face pressure to increase prices due to high operational costs and investor expectations.
Additional Information: Cube FP&A Vs PivotXL – a detailed comparison
Data Rails
- Strengths: Transitioned from a data management company to an FP&A provider. Has shown substantial growth after raising funding.
- Pricing: Starts at $2,000+ per month.
- Challenges: As investors push for returns, customers may face higher prices and reduced service levels.
Additional Information: Datarails Vs PivotXL – a detailed comparison
Vena Solutions
- Strengths: A pioneer in Excel-based FP&A solutions, with a long-standing presence in the market.
- Pricing: Average customer contracts are valued at approximately $30,000 per year, positioning it as the most expensive option.
- Positioning: Best suited for large enterprises with substantial budgets.
Additional Information: Vena Vs PivotXL – a detailed comparison
Conclusion
For SMEs or fractional CFO firms seeking cost-effective FP&A software, PivotXL stands out as an ideal choice. Its affordability and robust feature set make it a compelling option for smaller organizations. On the other hand, large enterprises with billion-dollar revenues might find solutions like Data Rails or Vena Solutions more suitable for their complex needs.
Choosing the right FP&A software requires careful consideration of your organization’s size, budget, and specific requirements. Excel-based solutions continue to offer unique advantages, ensuring their relevance in the FP&A landscape of 2025.
