5 Best AI in Financial Planning for Businesses

Introduction 1 (Problem-Solution):

Financial planning used to mean endless spreadsheets, manual calculations, and hours of tedious work. But not anymore. The best AI in financial planning for businesses has completely transformed how companies forecast, budget, and analyze their finances.

Datarails

Datarails stands out as one of the best AI in financial planning for businesses, especially for companies that aren’t ready to abandon Excel completely. What makes this platform unique is how it enhances rather than replaces your existing spreadsheet workflows.

Key Features

• FP&A Genius: An AI chatbot that answers financial planning questions and provides instant insights based on your company’s data
• AI-generated Storyboards: Creates visual financial reports and presentations with just a few clicks
• Excel Integration: Maintains familiar spreadsheet workflows while adding powerful automation
• Scenario Modeling: Simulates different financial scenarios to plan for various business outcomes
• Team Collaboration: Includes version control, commenting, and real-time updates

Pricing

Datarails doesn’t publicly list their pricing, but based on my research, plans typically start around $25,000 per year, with final costs depending on company size, features needed, and number of users. They offer a free demo so you can see if it’s right for your business.

Pros

• Preserves Excel familiarity while adding powerful AI capabilities
• Outstanding data visualization tools
• Excellent version control prevents spreadsheet chaos
• High user ratings (4.8 on Capterra, 4.6 on G2)

Cons

• Higher price point may be prohibitive for small businesses
• Some advanced features have a learning curve
• Requires clean data for AI to function optimally

Best For

Datarails is ideal for mid-sized to large businesses that want to enhance their Excel-based financial planning with AI while maintaining familiar workflows. It’s particularly valuable for companies with multiple departments that need to collaborate on financial planning.

Cube Software

Cube Software has earned its place among the best AI in financial planning for businesses by creating a platform that works as a layer on top of your existing spreadsheets. This approach gives you automation and advanced analytics without forcing you to abandon the tools your team already knows.

Key Features

• Multi-scenario Modeling: Create and compare different financial scenarios by adjusting key business drivers
• Automated Financial Reporting: Consolidate and validate data automatically, reducing manual reporting work
• Dashboard Creator: Build customizable dashboards for visualizing financial performance
• Spreadsheet Integration: Works with both Excel and Google Sheets
• Data Integration: Connects with your ERP, CRM, and other business systems

Pricing

Cube Software starts at approximately $20,000 per year, with pricing based on the number of users, data sources, and features required. They offer customized demos to show how the platform would work with your specific financial planning needs.

Pros

• Seamless integration with existing spreadsheet workflows
• Strong user ratings (4.6 on both Capterra and G2)
• Quick implementation compared to other enterprise solutions
• Excellent customer support frequently mentioned in reviews

Cons

• Some users report occasional performance issues with very large datasets
• Mobile experience could be improved
• Less suitable for companies wanting to move away from spreadsheets entirely

Best For

Cube Software is perfect for small to mid-sized businesses that want to enhance their spreadsheet-based financial planning with AI automation and analytics. It’s especially valuable for teams that need to create multiple financial scenarios quickly.

Anaplan

When it comes to enterprise-level solutions, Anaplan is consistently ranked among the best AI in financial planning for businesses. This comprehensive platform connects planning across finance, sales, supply chain, and HR departments for truly integrated business planning.

Key Features

• PlanIQ: Uses machine learning for predictive analytics and forecasting
• Connected Planning: Aligns planning across all departments in a single system
• Multi-dimensional Modeling: Supports complex scenario planning across different variables
• Predictive Insights: Analyzes market trends and financial data to refine forecasting
• Optimizer Tool: Helps businesses allocate resources and budgets optimally

Pricing

Anaplan is an enterprise solution with pricing that starts around $90,000 per year, according to my research. The final cost depends on users, data volume, and specific features needed. They offer customized demos for prospective clients.

Pros

• Handles extremely complex planning needs across departments
• Strong security features for enterprise data
• Robust AI capabilities for predictive modeling
• Solid user ratings (4.3 on Capterra, 4.6 on G2)

Cons

• Significant investment in time and money to implement
• Steep learning curve for new users
• Requires dedicated internal experts to maximize value
• May be overkill for smaller organizations

Best For

Anaplan is best suited for large enterprises with complex, cross-departmental planning needs. It’s particularly valuable for global companies that need to coordinate financial planning across multiple regions and business units.

Planful

Planful has earned its reputation as one of the best AI in financial planning for businesses through its comprehensive approach to financial performance management. The platform follows a structured, process-driven approach that appeals to organizations seeking standardization in their financial planning.

Key Features

• Planful Predict: Uses machine learning to detect patterns in historical data and improve forecast accuracy
• Rolling Forecasts: Continuously updates financial projections based on real-time performance
• Accounting Automation: Streamlines financial consolidation and month-end closing
• Self-service Reporting: Enables teams to generate custom reports and analyze financial data
• Workflow Management: Automates approval processes and task assignments

Pricing

Based on my research, Planful’s pricing typically starts around $30,000 per year, with final costs depending on company size, modules selected, and number of users. They offer personalized demos to showcase relevant features for your business.

Pros

• Structured approach helps standardize financial processes
• Strong automation capabilities reduce manual work
• Good balance of features for mid-sized businesses
• Consistent user ratings (4.3 on both Capterra and G2)

Cons

• Interface could be more intuitive
• Some users report that customization can be challenging
• Implementation may take longer than expected

Best For

Planful is ideal for mid-sized to large businesses looking for a structured approach to financial planning with strong AI capabilities. It’s particularly well-suited for companies that need to standardize financial processes across multiple departments or business units.

Farseer

Farseer might not be as well-known as some others on this list, but it’s quickly gaining recognition as one of the best AI in financial planning for businesses. What sets Farseer apart is its focus on speed and flexibility, allowing finance teams to build and adjust forecasts quickly without IT involvement.

Key Features

• Auto-selected ML Methods: Automatically chooses the best machine learning approach for each forecasting scenario
• Dynamic Scenario Planning: Runs multiple scenarios without manual setup
• One-click Forecasting: Generates forecasts across brands or cost centers instantly
• Anomaly Detection: Identifies unusual patterns in financial data
• AI Commentary: Drafts explanations and commentary for financial reports (beta feature)

Pricing

Farseer’s pricing starts at approximately $20,000 per year based on my research, with final costs depending on features, users, and data volume. They offer demonstrations to show how their platform can address your specific financial planning challenges.

Pros

• Faster implementation than many competitors
• Finance team maintains control without IT dependency
• Purpose-built database optimized for financial modeling
• Intuitive interface with minimal learning curve

Cons

• Some AI features still in beta
• Less established than other options on this list
• Works best when adopted across the entire finance team

Best For

Farseer is perfect for businesses that need to move quickly and want their finance team to maintain control of the planning process. It’s especially valuable for companies with multiple brands or cost centers that need to forecast at different levels of detail.

Comparison Table

Finding the best AI in financial planning for businesses isn’t about choosing the most expensive or feature-rich option-it’s about finding the right fit for your specific needs. Whether you’re looking to enhance your existing spreadsheet workflows with Datarails or Cube, need enterprise-grade planning with Anaplan, want structured processes with Planful, or require speed and flexibility with Farseer, there’s an AI-powered solution that can transform your financial planning. The future of finance isn’t just automated-it’s intelligent, and these tools are leading the way.