Financial planning and analysis (FP&A) solutions support the office of finance's budgeting, planning and forecasting efforts. Many also supplement the office's budgeting and planning process support with modeling, collaboration analytics and performance-reporting capabilities, to increase its ability to manage performance by linking corporate strategy and execution. The FP&A market is accelerating its shift from mature on-premises offerings to cloud solutions. New solutions built or significantly rearchitected as cloud services are typically easier to use and maintain than the previous generation of on-premises offerings. The vast majority of new FP&A sales are cloud-based. On-premises options still exist, but all vendors have greatly de-emphasized them or eliminated them entirely from their sales process. All the vendors in this market sell and support cloud-based FP&A solutions.
Corporate financial planning applications are the most widely used strategic corporate performance management (SCPM) solutions. Vendors supporting corporate financial planning processes vary in their focus. Some exclusively address the needs of the office of finance; others can also be configured to support certain planning requirements in other business domains, such as for operational risk or sales planning. Still others focus on particular industries. Application leaders in finance need to prioritize key financial planning and analytic needs, and ensure supporting processes are more collaborative, continuous and consistent.