Finance leaders are operating in a volatile environment where market shifts, rising costs and changing regulations are reshaping how businesses plan and make decisions. The right financial planning & analysis tool is now crucial for CFOs, procurement leaders, and finance professionals who want to connect strategy, operations, and performance data in real-time.
In this context, effective financial planning tools are no longer optional. They are essential for driving agility, ensuring compliance, improving forecasting accuracy and securing the financial future of the organisation.
Across large enterprises, finance and procurement leaders face familiar problems: disconnected systems, manual reporting, fragmented data and limited visibility across departments. These challenges make it difficult for financial leaders and financial advisers to deliver accurate financial advice, develop meaningful forecasts and evaluate different scenarios with confidence.
KPMG’s 2025 Global CFO & CIO Collaboration Survey found that over 47% of CFOS had increased investment in advanced data analytics and real-time reporting tools. The issue is rarely a shortage of data, but rather how to access, integrate and interpret it to deliver detailed information that drives business decisions.
For finance leaders looking to achieve efficiency and control, the question is no longer whether to invest in financial planning software, but which solution will provide the best fit for their financial situation, business model and risk tolerance. The FPA Trends 2024 Survey found that almost half of the organisations surveyed still struggled to unify their data for financial planning, with only 10% having real-time or near real-time data updates, illustrating the very real struggles many finance teams still face.
Let's explore how to utilise technology to enhance your financial decisions.
The best tools for financial planning & analysis are highly customisable, cloud-based and scalable. They automate manual tasks, support long-term tax planning and help track progress against financial goals.
When choosing between free financial planning & analysis tools and enterprise-grade software, CFOs must consider:
While free versions or free apps can be suitable for small businesses or personal finance, larger organisations typically require advanced automation, governance and scenario analysis that consumer-grade tools cannot provide.
Selecting the right financial planning & analysis tool depends on your organisation’s structure, data complexity, and long-term financial goals. While there are many financial planning software options available, we feel that there are three platforms that consistently stand out for enterprise use - Anaplan, IBM Planning Analytics, and Workday Adaptive Planning. Each provides robust forecasting, modelling and reporting capabilities, yet their strengths differ depending on business needs.
The following overview explores how each platform supports finance and procurement teams in achieving greater agility, accuracy, and insight - helping you decide which solution best aligns with your organisation’s strategy.
Best for: Connected planning across finance, operations, and workforce
Pros & suitability:
Use case example: An ASX-listed company used Anaplan and Power BI for integrated reporting. The organisation reduced its forecasting cycle by 40% and improved decision-making speed across finance and procurement.
Best for: Large enterprises with complex data structures and multiple business units
Pros & suitability:
IBM is particularly effective for organisations that must manage finances across several regions and need to simulate different investing and expenditure scenarios. It provides deep insight into expenses, income and savings on a consolidated level.
Best for: Usability, cloud integration, and workforce planning
Pros & suitability:
Workday is often selected by organisations seeking to improve cash flow visibility and achieve a good balance between finance and workforce management. Its cloud-based approach also supports accessibility and data security for distributed teams.
Complementing each of these platforms, Power BI delivers powerful reporting, visualisation and data integration capabilities. Finance teams can track key performance indicators, model investments and review their financial situation using real-time dashboards. For CFOs and advisors, it provides a single source of truth for regularly reviewing performance, expenses and forecasts.
The effectiveness of a financial planning & analysis tool depends on how well it is implemented. Without the right strategy, even the best financial products can fail to deliver value.
Successful implementation involves:
This is where expert partners play a vital role. Tridant has over 15 years of experience in financial planning and analytics, using data driven methods to achieve comprehensive outcomes for many businesses. Tridant helps organisations evaluate their financial health, manage risk and leverage automation to improve efficiency and accuracy.
Tridant provides consulting and implementation services across Anaplan, IBM Planning Analytics and Workday Adaptive Planning, with Power BI for reporting.
We assist finance leaders to:
By combining financial planning & analysis software with expert advice, Tridant ensures each organisation can achieve its financial goals, improve cash flow, and make confident investment decisions.
As artificial intelligence continues to reshape the finance industry, CFOs who embrace connected planning platforms will be best positioned to manage uncertainty. The right financial planning & analysis tool provides a secure foundation for making smarter decisions, achieving sustainable savings, and building a stronger long-term financial future.
To explore which solution best fits your company’s needs, contact Tridant for a discovery session.
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