Excel-based FP&A platforms vs integrated financial performance software

When it comes to upgrading your financial planning and analysis (FP&A) capabilities, most teams face a familiar crossroads: stick with an Excel-based solution that feels familiar or move to an integrated financial performance platform that offers a broader range of tools and automation. 

An Excel-based FP&A platform uses Microsoft Excel as its foundation. It mirrors the Excel interface finance teams know and trust, often embedding native formulas, spreadsheets, and visuals directly into the software. These tools can connect data sources, run reports, and automate workflows, but Excel remains the core engine. 

An integrated financial performance platform, on the other hand, is built independently from Excel. It centralizes your data, automates planning, reporting, and forecasting tasks, and provides a purpose-built experience for finance users. With solutions like Prophix One, you don’t lose Excel altogether. You can still access data through Microsoft 365 integrations, but you gain a modern, scalable environment that’s purpose-built for performance. 

The difference? Excel-based platforms replicate the look and feel of spreadsheets. Integrated platforms reimagine the entire process.