Automating FP&A Processes Using Excel . Part 1

Automating processes in FP&A is a very useful endeavour.

Not only it saves time but it also minimise errors and the need for manual tasks.

There are many ways to go about Automation but one of the most popular ones is “ Start Small, Dream Big using Microsft Excel”.

Below you can find 10 examples of to FP&A processes to be automated using Excel and then we will break down the 3 most popular and “easiest” ones to start with:

1. Data consolidation: Excel can automate the process of pulling data from multiple sources and consolidating it into a single spreadsheet, saving time and reducing errors.
2. Budgeting and forecasting: Excel can be used to automate the creation of budget and forecast models, enabling faster and more accurate calculations based on historical data and assumptions.
3. Financial statement generation: Excel can automate the creation of financial statements such as income statements, balance sheets, and cash flow statements, using formulas to update the statements automatically when underlying data changes.
4. Variance analysis: Excel can automate the process of comparing actual financial results to budgets or forecasts, calculating variances, and highlighting areas that require attention.