7 Powerful Tools for FP&A Automation in Corporate Finance

FP&A processes are often tedious, manual, and time-consuming—an ongoing challenge for finance teams. Finance teams are looking FP&A automation tools. Recognizing this, founders of several companies have created innovative solutions to transform FP&A workflows. These make budgeting, planning, and financial forecasting faster and more insightful. Especially with the rise and usage of AI. Here’s a selection of tools designed to empower and streamline the work of FP&A teams:

1. Finnt

Finnt was born from the realization of just how much manual work corporate finance professionals still undertake. Originally a banking app leveraging AI for financial education, Finnt pivoted to bring AI into enterprise finance and help finance teams tackle repetitive and labor-intensive tasks. Finnt focuses on seamlessly integrating into existing workflows in Accounting, Controllership, and Financial Operations, making it easier for teams to adopt without disrupting current processes. The platform ingests data from various sources like Excel files, CSVs, and PDF documents. Then it extracts key information, and organizes it into a pre-formatted custom output. This means that instead of manually organizing data, finance professionals can instantly access the information they need to make informed decisions.

• Target Audience: CFOs and finance teams in need of automation in reconciliation and reporting processes.
• Business Type: Best suited for mid-sized companies, though flexible for smaller and larger businesses.
• Main Features: Finnt’s automation capabilities include data ingestion, extraction, and output configuration, which reduce manual input and streamline data processing.
• Pricing: Pricing is flexible, tailored to company size and integration needs.
• Other Relevant Information: Finnt’s focus on leveraging AI to minimize manual workloads reflects a deep commitment to making financial processes more efficient and accurate.

2. Datarails

Datarails brings a unique approach to FP&A, developed by an executive team with a deep understanding of corporate finance’s day-to-day challenges. Having firsthand knowledge of the time-consuming nature of financial planning, Datarails designed FinanceOS, a platform that centralizes all financial data into one accessible source of truth. FinanceOS is accompanied by the FP&A Genius module, an AI-driven tool that provides in-depth financial insights. The integration with Excel is particularly advantageous, as it allows teams to leverage advanced data capabilities without leaving the familiar spreadsheet environment, making the transition to Datarails seamless.

• Target Audience: Corporate finance teams in need of a centralized financial hub and enhanced automation.
• Business Type: Primarily for mid-sized to large enterprises looking to streamline complex FP&A workflows.
• Main Features: Datarails includes a comprehensive suite for data centralization, AI-driven insights, and Excel integration, which together enhance accessibility and ease of use.
• Pricing: Pricing is tailored based on company size and operational needs.
• Other Relevant Information: Datarails is a tool designed by finance veterans, meaning it addresses real pain points with practical, accessible solutions that align with existing workflows.

3. Abacum

Abacum’s founders, experienced in corporate finance, developed the platform to provide finance teams with a faster, more streamlined way to make strategic decisions. Recognizing the need for collaboration, Abacum designed its platform with features that allow finance teams to work together seamlessly. The tool automates essential tasks like reporting and planning, providing a single source of truth for accuracy and consistency. Additionally, Abacum integrates forecasting tools that use AI to enhance predictive accuracy, so teams can make proactive rather than reactive decisions. The platform’s collaborative workflows ensure that every member has access to the same data version, reducing the risk of discrepancies.

• Target Audience: Finance teams in agile or fast-growing organizations looking for accelerated decision-making.
• Business Type: Ideal for mid-sized companies and fast-growing businesses.
• Main Features: Abacum supports automated reporting, a central source of truth, AI-enhanced forecasting, and collaborative workflows, all aimed at fostering teamwork and accuracy.
• Pricing: Customizable based on company needs.
• Other Relevant Information: Abacum’s focus on real-time collaboration makes it an excellent choice for dynamic teams in need of rapid, informed decisions.

4. Vena Solutions

Vena Solutions goes beyond standard collaboration to foster a culture of true teamwork within finance. Recognizing that trust is key to successful financial management, Vena provides intelligent reporting and analytics solutions powered by AI. Their AI assistant, CoPilot, is designed specifically for FP&A processes. It allows finance teams to gain quick insights and make data-driven decisions. Vena’s Excel-based workflow interface combines the familiarity of spreadsheets with the enhanced capabilities of data automation, creating a seamless user experience. This blend of security, reliability, and familiarity has earned Vena a reputation for being both trustworthy and highly effective.

• Target Audience: Finance teams looking for a collaborative platform with a focus on trust and teamwork.
• Business Type: Suitable for medium to large enterprises where collaborative workflows are essential.
• Main Features: Vena combines AI-driven reporting and analytics with a dedicated FP&A assistant, as well as integration with Excel to ensure ease of use.
• Pricing: Available upon request, tailored to enterprise requirements.
• Other Relevant Information: Vena’s design philosophy centers on building trust and support within finance departments, allowing teams to operate more cohesively.

5. Workday

Workday is a powerful platform that integrates finance and HR, addressing the diverse needs of large organizations and enterprises. Trusted by clients like Bank of America, Visa, Netflix, and GE, Workday’s financial planning tools streamline processes through automation and AI. Workday enables organizations to unify their financial and workforce planning on a single platform, enhancing operational efficiency and data coherence. Its robust reporting and analytics capabilities provide critical insights across departments, promoting better data-informed decision-making. For large, complex organizations, Workday offers a centralized system that simplifies cross-functional workflows.

• Target Audience: Enterprises needing a unified platform for finance and HR functions.
• Business Type: Primarily designed for large organizations with extensive operational requirements.
• Main Features: Workday integrates finance and HR, offering advanced AI for planning, reporting, and analytics to support multi-department insights.
• Pricing: Enterprise-level pricing, customized based on the size and complexity of the organization.
• Other Relevant Information: Workday’s cross-functional capabilities make it a go-to solution for large enterprises needing cohesive financial and workforce management.

6. Prophix

Initially a software distributor, Prophix has grown into a comprehensive solution provider for budgeting and planning. Their platform uses AI to automate many of the time-consuming tasks associated with FP&A, from budgeting to reporting. This automation allows analysts to focus more on strategic decision-making rather than manual data input. Prophix offers a straightforward interface designed for easy navigation, making it accessible to both large enterprises and smaller companies. By freeing up analysts from routine tasks, Prophix empowers finance teams to gain clearer insights and make faster, data-driven decisions.

• Target Audience: Analysts and finance teams in need of streamlined planning and reporting.
• Business Type: Scalable, from small businesses to large enterprises.
• Main Features: Prophix provides AI-driven budgeting and forecasting, a user-friendly interface, and comprehensive reporting, all aimed at improving operational efficiency.
• Pricing: Based on company requirements and scope.
• Other Relevant Information: Prophix’s background as a distributor gives it a unique perspective on software needs, resulting in a highly functional tool for financial planning.

7. Cube

Cube was developed by a former CFO who experienced the challenges of balancing data updates with strategic tasks. Cube’s platform is highly adaptable, integrating directly with spreadsheets to provide finance teams with flexible, on-demand solutions for FP&A. The platform’s diverse capabilities include planning and modeling, strategic finance, and various reporting options such as cash flow and performance analysis. Cube’s spreadsheet-friendly interface makes it intuitive for teams to adopt, while its flexibility means that it can be quickly deployed and scaled. Designed for small to mid-sized teams, Cube allows finance professionals to focus on insights and decisions rather than administrative updates.

• Target Audience: Finance professionals needing a quick, adaptable solution for FP&A.
• Business Type: Ideal for small to mid-sized companies looking for flexible, spreadsheet-friendly solutions.
• Main Features: Cube offers robust tools for planning and modeling, strategic finance, and reporting, all integrated with familiar spreadsheet functionality.
• Pricing: Varies based on organization size and selected features.
• Other Relevant Information: Cube’s user-friendly and adaptable design reflects its origins from a former CFO’s real-world experience, making it highly practical for finance teams.

Summary Table

ToolTarget AudienceBusiness TypeMain FeaturesPricingFinntCFOs, finance teams needing automation in reconciliation and reportingMid-sized, adaptable for small/large businessesAutomates data ingestion, extraction, integrates with workflowsFlexible, based on size and integration needsDatarailsCorporate finance teams needing a centralized financial hub and automationMid-sized to large enterprisesCentralized data, AI insights with FP&A Genius, Excel integrationCustomizable based on company needs and scaleAbacumFinance teams in agile or fast-growing organizationsMid-sized companies and fast-growing businessesAutomated reporting, collaborative workflows, AI-driven forecastingBased on customization and company needsVena SolutionsFinance teams looking for a collaborative platform focused on teamworkMedium to large enterprisesAI-powered analytics, CoPilot for FP&A, Excel integrationRequest-based, tailored for enterprisesWorkdayEnterprises needing integrated solutions for finance and HRLarge organizations and enterprisesFinance & HR integration, automation, cross-departmental insightsEnterprise-level, tailored to company size and needsProphixAnalysts and finance teams looking to automate planning and reportingScalable for small to large businessesBudgeting and forecasting automation, user-friendly interfaceRequest-based, based on size and requirementsCubeFinance professionals needing a quick, adaptable solution for FP&ASmall to mid-sized companiesSpreadsheet integration, planning, modeling, reportingVaries by size and features selected

Automation is changing the game in corporate finance, helping teams save time on budgeting, forecasting, and reporting. Tools like Finnt, Datarails, and Cube allow finance teams to move from manual tasks to focusing on strategy, boosting efficiency and insights. Each tool brings something unique to meet various business needs, from small teams to large enterprises.

Ready to explore more options? Download our full list of over 100 tools to find the perfect fit to streamline your finance processes and drive smarter decisions.