FP&A software for efficient budgeting and forecasting
Adopt FP&A software to increase your business’s efficiency by automating manual tasks such as data entry and sync, and gain actionable insights into your current and future performance. Let Abacum help you and your financial team take a proactive approach to financial planning, budgeting, and forecasting with advanced integration and collaboration capabilities.
Finance teams increasing efficiency with FP&A software
Sync all of your business data with just one button
Do you have too many data source systems, making it difficult to establish a single source of truth? With Abacum, you can automatically integrate all of your business systems in a centralized location with just a few clicks. Your entire company’s information will be available for you to define variables across the whole platform, enabling you to build efficient connections between the business drivers that impact your bottom line.
Achieve greater granularity and model more accurately
To effectively analyze your business’s financial health, your financial models must be both precise and accurate. It is no longer a matter of choosing between the two; you must deliver relevant data with a high level of detail on time. Achieving this is challenging with spreadsheets because updating information requires more manual effort. Luckily, Abacum enables you to gather all of your business inputs in real-time, update your actuals in one-click, and obtain outputs at a dimensional level of granularity. Which allows you to confidently predict your company’s financial future in a fraction of the time.
No more questions about the syntax of your model
Enhance your financial planning process by adopting Abacum, the advanced financial planning software that provides a user-friendly, unified solution that all of your business’s budget owners will love to use. By adopting Abacum, stakeholders can easily understand your company’s financial forecasts, and you will be able to prepare and share actionable insights with other department Heads, making the process more intuitive, quick, and effective than ever before.
Communicate through stories instead of spreadsheets
Gone are the days when spreadsheets were the only tool available for leading financial conversations. Today, FP&A software allows for financial analysis to be conducted in one common space, providing all the necessary context to make sound strategic business decisions. With Abacum, you and your finance department can save time by automating the financial consolidation process, gain confidence in the accuracy of your data, and deliver stories to decision-makers in an easily digestible format, allowing them to identify potential challenges and opportunities faster.
All the integrations you need, available
Abacum makes possible the integration of hundreds of business data sources, providing accurate insights in a seamless user experience.
What sets Abacum apart from other FP&A software?
Easier set up
Keep all your business data in a single platform
Adjust the level of granularity to meet your business needs
Intuitive user interface
Engage all stakeholders through a user-friendly platform
Make efficiency a priority with Abacum
Abacum is an FP&A software that allows finance teams to increase efficiency in real-time. With Abacum, finance leaders can optimize their operations faster than with traditional spreadsheets and keep all their business data in a single source of truth. It provides as many levels of granularity as a business needs, ensuring that financial decisions are always based on accurate and precise data. By implementing Abacum, you can establish accountability and transparency throughout your organization, making vast amounts of integrated data easily understandable, even for non-financial professionals. This promotes alignment among everyone involved in driving business performance, delivering actionable insights with real-time data, and working towards shared objectives.
Get the most out of your data with Abacum
Join our community and share your financial data through stories.
“Financial reporting for multiple markets is a complex process and with our reporting responsibilities, it was key that we didn’t waste time on painstaking work. Abacum came at the right time for us to optimize our tasks.”
“By implementing Abacum, we created dynamic and future-proof models that scale as fast as our business. This greatly improved the depth of our investor reports and gave me the time to add strategic value in our expansion and product offering.”
Head of FP&A
“The onboarding process with Abacum was fast and efficient. Their implementation team provided us with the full support needed to use the platform for our month-end reporting, freeing up a lot of time from manual work.”
Still have questions? We’ve got answers.
What is Financial Planning and Analysis (FP&A)?
Financial Planning and Analysis (FP&A) is a set of strategic business processes that involve creating and managing long-term financial planning, analyzing organizational performance, and forecasting future financial outcomes.
By combining a deep understanding of financial principles with strategic planning, FP&A can help businesses make more informed decisions to achieve their goals more efficiently and effectively. This includes identifying opportunities for cost savings, improving profitability, and creating a roadmap for long-term success that takes into account both internal and external factors.
Furthermore, FP&A is not just about looking at the numbers. It also involves working closely with other departments to understand their needs and objectives, ensuring that financial planning is aligned with the broader goals of the business. In this way, FP&A can act as a true partner to the business, providing valuable, deeper insights and guidance that help drive growth and success over the long term.
What is FP&A Software?
FP&A software, also known as financial planning and analysis software, is a specialized type of business planning platform that provides organizations with an in-depth financial analysis of their operational planning. This software is crucial for businesses of all sizes, as it offers powerful data-driven insights into financial budgeting, accurate forecasting, cost management, and performance optimization.
By using FP&A software, you can gain a deep understanding of your business’s financial health and make informed decisions based on the data provided. This type of software is highly customizable and can be tailored to meet the specific needs of any organization. For example, it can provide detailed reports on revenue, expenses, and cash flow, as well as generate rolling forecasts and scenarios for different business outcomes.
FP&A and Finance: What is the difference between them?
FP&A stands for Financial Planning and Analysis, which is a subset of the broader field of Finance. FP&A specifically focuses on analyzing and planning an organization’s financial data. This includes forecasting future performance, analyzing current performance against budgeted targets, creating strategic plans, and monitoring cash flow. FP&A also involves developing strategies to ensure the efficient use of resources and capital to achieve long-term goals.
In contrast, Finance encompasses all aspects of an organization’s finances, including accounting, financial reporting and control, tax planning and compliance, investments, and risk management. While FP&A has a narrower focus, understanding financial performance is still critical for businesses to make informed decisions.
What are the advantages of FP&A software?
FP&A software provides businesses with a comprehensive view of their financial performance and position. This enables better decision-making in budgeting, forecasting, and planning. It also facilitates easy budget monitoring and identification of areas for improvement. Additionally, FP&A software provides quick access to accurate, real-time data.
Another advantage of FP&A software is the ability to identify opportunities for cost savings and improve efficiency. By leveraging predictive analytics, historical data can be analyzed, and accurate forecasts developed that allow you to anticipate future events and trends, and plan ahead to make the most of your resources. Finally, modern software also provides powerful collaboration features that streamline communication and improve coordination between business units.
Can you use spreadsheets for FP&A?
Yes, spreadsheets are a valid tool for conducting FP&A. They can be used to create detailed budgets and forecasts, as well as to analyze financial data. However, if you are looking for a more comprehensive solution, you may want to consider using FP&A software tools. This type of software is specifically designed for planning and analyzing financial data and can provide a wide range of key features that make it easier to manage the complexities of FP&A.
For example, software solutions like Abacum offer automated reports and customizable dashboards that allow you to quickly identify opportunities for cost savings or improvements in efficiency. It also provides advanced collaboration and data-sharing features, allowing multiple users to work together and have conversations on specific financial scenarios in one space. In short, FP&A software can help you get the most out of your financial planning and analysis activities.
How to choose the best FP&A platform?
To evaluate your FP&A software options, start by assessing the advanced features and analytical capabilities of each platform. Consider the type of data analysis you need to perform, whether it needs to be done in real-time or over long periods of time, and how much flexibility you need in terms of customizing reports. Also, check the time-to-value that the platform offers both within your team and the entire organization. Additionally, make sure to evaluate how user-friendly the software is and how quickly you can get up and running with it.
Finally, beyond comparing the pricing, consider the vendor’s support services. Evaluate the level of customer support and training resources that are available for the platform you are considering. This will help ensure that you have all the help you need if you encounter any issues while using the software.