Causal FP&A vs PivotXL – Best FP&A Software in 2025

For finance teams, selecting the right FP&A software can be a game-changer. As we move into 2025, PivotXL is emerging as a leading choice due to its innovative approach to budgeting, management reporting, and forecasting. Meanwhile, Causal FP&A is another strong contender in the same space. However, how does it truly compare to tools like PivotXL? In this article, we will delve into the strengths of Causal FP&A and, in addition, provide a detailed comparison of its features with PivotXL. Ultimately, this guide aims to help you identify the best solution tailored to your business needs.

What You Will Learn

• Basics on Causal: Gain an overview of Causal FP&A software, its functionalities, and unique features.
• Causal’s Recent Shift: Understand how Causal’s latest changes impact its market positioning and usability.
• PivotXL vs. Causal: Feature Comparison: Explore the key feature differences between PivotXL and Causal to determine the best fit.
• PivotXL vs. Causal: Approach Towards Excel: Compare how each tool integrates with or replaces Excel workflows for financial planning.
• PivotXL vs. Causal: Pricing Comparison: Learn about the pricing models of both tools to assess their cost-effectiveness.
• Detailed Feature Differences: Discover the advanced features, customization options, and usability nuances of each tool.

Causal FP&A: Introduction

Causal, founded in 2019, seeks to transform financial planning and analysis (FP&A) with its modern, cloud-based platform. It enables businesses to easily create financial models, seamlessly integrate them with data sources, and share insights through interactive and visually engaging dashboards. Furthermore, it challenges the limitations of Excel by offering a more efficient and user-friendly alternative. Through this approach, Causal strives to guide users away from traditional spreadsheets and toward its innovative platform.

Causal has raised a total of $25.9 million over two funding rounds. The most recent was a Series A round on March 25, 2022, where they secured $20.2 million from investors including Coatue and Accel.

Causals FP&A Software’s Recent Shift

Despite raising a considerable amount of funding, Causal was recently acquired by LucaNet. Following the acquisition, the founder shared important insights about the type of acquisition and, more importantly, how the company intends to evolve under its new ownership.

1. Type of Acquisition: According to the founder, this is a product acquisition rather than an acqui-hire, highlighting LucaNet’s focus on leveraging Causal’s technology and platform rather than solely acquiring its team.
2. Shift to Mid-Market: The company will transition to targeting the mid-market, which means its previous product-led, low-pricing strategy will no longer be sustainable in this new direction.
3. Challenges in Spreadsheet Replacement: The founder acknowledged the difficulty of competing in the spreadsheet replacement space, as users often continue relying on traditional spreadsheets despite alternative solutions.

Key Insight on Venture-Backed Companies:

Another critical takeaway from the founder’s comments revolves around the mindset commonly found in venture-backed companies. Specifically, he revealed that he operated with an “all-or-nothing” mentality, where he anticipated either achieving a massive outcome or facing a complete bust. Furthermore, from a venture capital perspective, he considers this acquisition to fall short of being a significant success.

As a prospective buyer, you must carefully evaluate this mindset when considering a partnership with venture-backed firms. These companies frequently prioritize rapid growth and quick wins over building sustainable, long-term profitability. Consequently, they might abruptly shut down operations, leaving their customers without the support they need.

In contrast, PivotXL embraces a philosophy of slow and steady growth, prioritizing profitability and a long-term commitment to its customers. We focus on fostering strong, collaborative relationships while consistently delivering exceptional products. Moreover, our approach emphasizes responsible growth, with a vision to scale the market gradually over the next 10 to 15 years, ensuring both stability and trust for our valued customers.

Causal FP&A vs PivotXL – Approaches to Excel

Another significant difference between Causal and PivotXL lies in their approach to Excel or spreadsheet software. The founder of Causal FP&A aimed to replace Excel entirely but recently admitted that replacing Excel is a challenging task. In contrast, PivotXL has consistently recognized the incredible functionality Excel offers and focused on building upon it.

PivotXL has invested heavily in enhancing its Excel add-in, ensuring users can leverage Excel’s strengths while enjoying additional advanced features. As a prospective buyer, you should carefully consider this philosophy when evaluating these tools, as it highlights PivotXL’s commitment to supporting and improving familiar workflows.

If your team relies on and feels comfortable with Excel, PivotXL offers a seamless transition by building on its existing functionality. However, if your goal is to move entirely away from Excel, Causal FP&A may align better with your needs.

PivotXL’s Extra Features Vs Causal FP&A

PivotXL extends its capabilities beyond financial planning by investing in advanced reporting features, including:

• Custom Tables and Filters: For slicing and dicing transactional data in an easy way
• Custom Scripts: Automate complex tasks for better efficiency.
• PowerPoint Integration: For building powerpoint out of your data.
• Task Management: Advanced task management functionality helps run budgeting and month-end close processes.

PivotXL’s Pricing Is Suitable for Small and Medium Businesses

Currently, Causal and PivotXL share similar pricing, but buyers should note that the founder of Causal has indicated plans to target the mid-market segment. Additionally, LucaNet, which recently acquired Causal, primarily focuses on mid-market and larger customers. Given this alignment, it is reasonable to expect that Causal will adjust its pricing to match other mid-market offerings, potentially moving away from its current structure.

Pricing Comparison:

• PivotXL: Starts at $100 USD per month.
• Other Solutions: Begin at $2,000 USD per month

This significant price difference underscores PivotXL’s strong value proposition for businesses seeking cost-effective FP&A solutions. While the feature sets of PivotXL and Causal are quite similar, the pricing disparity is substantial. Prospective buyers should carefully consider this when evaluating their options.

Causal FP&A vs PivotXL Quick Feature Comparison

	PivotXL	Cube FP&A	Benefits
Storing Data in Cubes	Yes	Yes	Multi-dimensional cubes store data efficiently. These cubes simplify comparing budgets with actuals and analyzing data from different angles.
Excel Add-In (GET/SEND Data)	Yes	No	Both features let you pull and send data from cubes into Excel. You can use this data for reporting and calculations.
Excel Reporting	Yes	No	Managers prefer clean, formatted Excel reports. Add-ins let you pull data, format reports, and share them seamlessly.
Excel as calculation engine	Yes	No	Excel handles calculations easily. Pull data from the database, apply formulas, and send results back to the database.
Audit Trails	Yes	No	Databases track changes when you send data. You can see who made changes, when, and what they updated.
Sharable Web Dashboards	Yes	Yes	Build interactive web dashboards directly in the application. Collaborate in real-time without using external tools.
Consolidated Data – Upload	Yes	Yes	Import datasets like trial balances easily. Tools manage various formats, making data uploads simple and flexible.
Transaction Data – Upload	Yes	No	Break transaction data into smaller chunks by date or keywords. Upload and reorganize the raw data for better analysis.
Custom Script – Upload	Yes	No	Use scripts to handle complex data exports. Scripts prepare and upload data into the database seamlessly.
API Based Import	Yes	Yes	APIs automate data access. Some systems lack custom APIs, but available ones simplify workflows and save time.
Web Calculation Engine	Yes	No	Create calculations for management reports within the system or use Excel templates. Choose the method that fits your workflow.
Template Storage	Yes	No	Store Excel templates in the application for easy access. This keeps templates organized and searchable.
User Management	Yes	Yes	Admins set tasks and manage calculations. Basic users access limited functions, keeping the system organized and secure.
Roll-Ups Definition	Yes	Yes	Define how to consolidate and roll up data using simple interfaces. Combine sources without writing complex formulas.
Drill Down Data	Yes	No	Start with a high-level view of data. Drill down into categories or transactions to see detailed information.
Task Management	Yes	No	Organize workflows with task management. Track progress, assign accountability, and collaborate in real-time.
Draft Task – Budgeting Process Management	Yes	No	Automate budgeting with notes and calendars. Streamline the process and save time on repetitive tasks.
Recurring Task – automate month end close checklist	Yes	No	Automate monthly close tasks. Track progress, ensure accountability, and simplify reviews with recurring checklists.
Powerpoint Integration	Yes	No	Create PowerPoint templates. Generate presentations quickly with pre-filled data, saving time and effort.
Advanced Excel to Cube mapping features	Yes	No	Map Excel data to cubes through cell or bulk mapping. Add rows and columns to handle complex data needs.
Advanced Automated-Excel Editing Features	Yes	No	Hide empty rows in Excel automatically. Keep tables dynamic and focus on relevant data without manual cleanup.
Free Proof Of Concept	Yes	No	We understand your needs and show tailored solutions. Our proof of concept highlights the system’s value to your business.
Pricing – Starts $100+/Month	Yes	No	Our pricing starts at $100/month. We offer cost-efficient, high-value solutions compared to others starting at $2,000/month.

Conclusion

For small to medium-sized businesses looking for an intuitive and cost-effective FP&A solution, PivotXL delivers the ideal fit. By seamlessly integrating with Excel, it empowers users to harness familiar formulas as a powerful calculation engine while utilizing Excel itself as the reporting layer. Furthermore, this streamlined approach removes the steep learning curve associated with more complex tools, allowing businesses to concentrate on financial planning and analysis without disrupting their existing workflows.

Additionally, with its affordable pricing and user-friendly design, PivotXL enables businesses to gain enterprise-level insights without incurring enterprise-level costs. As a result, it becomes an invaluable asset for teams aiming to scale efficiently while maintaining budget-conscious operations.