FP&A – Financial Planning & Analysis!!! It is an Art & Science; it gives complete access to the organization’s manager during risky times to make perfect decisions and inform them of development opportunities for the enterprise.
In order to steer the firm in the right direction, a management should have a clear picture of their actuals and trends. Due to the increased demands of data and advanced analytical techniques, FP & A professionals are required to provide deep insights and accurate information. But that is not an easy task, there are many challenges in between.
What is Financial Planning & Analysis?
A set of activities that includes Budget, Planning & forecasting which helps in financial management and support in decision-making. FP&A helps organizations to achieve Strategic, financial and organizational goals.
FP&A teams gather information and create data models, later they transform those information into reports. In reality, FP&A professionals work really hard to get the reports error free, but we are prone to making errors. These errors limit the management process and slow down a company’s growth. To avoid this and help the FP&A team we have a software designed.
What to look for in a FP&A tool?
Integration & Collaboration
Excel Add-on For Budgeting
Microsoft Excel is an all round tool for financial needs. Finance departments around the world use Excel because of its ease of use and learning. PivotXL is an Excel add-on software approved by MSExcel; it helps you accomplish the FP & A process without breaking a sweat.
With PivotXL you can analyze ‘n’ number of datasets and perform multiple calculations. To work on excel ad hoc analysis you do not need a computer science degree.
Excel does have its limitations, handling a large set of data, system integration and project management. However these pain points are addressed in PivotXL, by offering cloud-based FP&A platforms and cloud integration for Budgeting and data & project management. This supports data integration, collaboration and functionality.
The biggest difference with PivotXL is that we have not imitated Excel, we built it to integrate with Excel. Transform your FP&A process into a true powerhouse with the familiarity and flexibility of Excel.
Artificial Intelligence, Automation and cloud storage are the key drivers that automates most of the FP & A process. This is a good news for finance professionals which allows management to spend less time on repetitive tasks and help in making strategic decisions.
If you would like to know more about our product or for expert insight, feel free to Contact Us.