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With improved collaboration, your team can be more efficient and effective

Business is not a solitary pursuit. It often takes dozens or even hundreds of people partnering together to create meaningful impact. But when it comes to the finance department, it can often feel like you’re working in a silo. Instead of being seen as a partner, FP&A teams often struggle to get buy-in from business managers. So how do you make finance part of the team? By getting everyone else invested in the numbers.

The struggle to get the whole team on the same team

Collaboration is a two-way street. Don't get stuck going one way.

Most organizations struggle to engage stakeholders in finance processes

Data collaboration takes continuous time and effort to ensure everyone is moving in the right direction. Stakeholders who invest in the process are rewarded with the KPIs and dashboards they need to make better business decisions. Those that don’t participate get stuck with raw numbers or GL account data. If you don’t make it easy for both sides to take ownership, then neither side will benefit.

Spreadsheets aren't team players—sometimes they work against you.

Spreadsheets make it difficult to partner with stakeholders to deliver relevant data insights

As great as spreadsheets are for some things, collaboration isn’t one of them. Multiple emailed copies of a spreadsheet leads to confusion and errors, while the inability to manage who has access and enters data should raise massive red flags. Finance ends up spending the bulk of their time just verifying numbers are up to date and accurate. As a result, the team doesn’t have time to work with stakeholders to deliver reports with relevant KPIs, which leads to stakeholders freezing them out of the process.

How can you make finance a collaborative process?

Financial collaboration becomes easier when you stop relying on static spreadsheets. It starts with getting the entire team working with one, trusted set of numbers, and building on a foundation of accurate, up to date data. When you trust the numbers, you can focus your time on analysis and working with stakeholders to deliver valuable insights and improve engagement. When your partners in other departments can take more ownership of the data, turning it into “our numbers” instead of “finance’s numbers,” everybody wins.

When you have a single source of truth, and get other stakeholders engaged, you move towards what we call “active planning.” An active planning process needs to be collaborative, comprehensive, and continuous. Benefits include:

Finance teams need a tool that improves collaboration with stakeholders


  • Engage finance and business owners across the organization with ease of use
  • Empower adoption with self-service capabilities
  • Spend more time analyzing your model instead of creating it
  • Always work with real-time data
  • Drag-and-drop report building features
  • Have confidence that everyone is working in the same model version
Finance teams need a tool that is comprehensive


  • Create dashboards that integrate your actuals and plan
  • Easily manage models and forecasts across all integrated data sources
  • Run flexible what-if analyses
  • Access audit trails to see what changed, when, and who did it
  • Easily account for multiple currencies, exchange rates, etc.
  • Get business insights from real-time data
  • Build board reports for senior management
Finance teams need a tool that lets them have financial plans that are continuous


  • Automate data consolidation from all sources
  • Export operational data from GL, payroll, purchasing, etc.
  • Collaborate with business partners
  • Course-correct with more agility
  • Run scenario plans in minutes
  • Update reports with one click
  • Use flexible modeling that lets you build on the fly and adjust dimensions as needed

When you have these three components, we call it "active planning"

Learn how you can bring active planning to your organization.

Learn More About Financial Planning Software

We have experienced dramatic improvements in collaboration with key stakeholders across our organization. Greater visibility into operational and financial metrics and enhanced collaboration across finance, R&D, procurement, and manufacturing has helped us drive significant performance improvements across our operations.

Kyle Chlan, Senior Operations Finance Manager

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