A 1% forecasting error can cost you millions. But a better tool can help you see it coming, and steer.
Forecasting isn’t just about accuracy. It’s about momentum. It’s about knowing what to do next, and getting everyone on the same page fast. But most teams are stuck doing it the old way.
96% still rely entirely on spreadsheets for forecasting.
80% of sales teams miss their forecast by more than 10%.
And even the best analysts spend more time checking data than testing ideas.
That’s the cost of outdated tools, and of treating forecasting as a reporting exercise instead of a shared model of how the business actually works.
But there’s a better way.
What modern forecasting software does differently
It doesn’t just clean up your spreadsheet.
It connects directly to your source systems—your ERP, CRM, HR tools—and keeps your model up to date automatically. It lets you see the effect of one change across your entire business. And it turns forecasting into something collaborative, continuous, and clear.
No more stale assumptions. No more last-minute fire drills. Just faster cycles, tighter decisions, and forecasts you can actually trust. Especially for those who have to answer “what changed?” every week.
What to look for in a forecasting tool
- Live data integration
Your forecasts should reflect reality, automatically. Look for tools that sync with your stack: Salesforce, NetSuite, QuickBooks, Workday, HubSpot, and more. - Driver-based modeling
Spreadsheets force you to hide logic in formulas. Good tools surface the logic, so everyone can understand how the numbers work. The model owner should be able to explain any line by pointing to a driver, not a cryptic cell reference. - Built-in scenario planning
You should be able to spin up new cases in minutes: conservative, baseline, and aggressive. All side by side, with ripple effects modeled automatically. - Real-time collaboration
The best tools work like Google Docs. Finance, sales, and ops can build and review plans together, with notes, version history, and audit trails built in. - Instant reporting
Dashboards and board decks should stay in sync with the model. One update, everywhere. - Data security and scale
Look for SOC 2 compliance, audit logs, and support for multi-entity planning. Your tool should scale as your team and complexity grow. You shouldn’t need to rip it out the moment you add entities, products, or regions.
Best forecasting tools
Let’s look at some of the top options, and how they compare:
Runway
Runway is built for teams that want to move fast, model clearly, and plan together.
It’s a full financial modeling platform that replaces spreadsheet chaos with structure, clarity, and speed. You get live integrations with over 750 systems (including NetSuite, Salesforce, QuickBooks, and HubSpot), driver-based modeling without code, and real-time dashboards that reflect every change.
Scenario planning is built in. You can branch off your base case with one click. Each scenario lives on top of the same model, so you’re not cloning files or re-creating logic every time the plan changes.
And collaboration feels like Google Docs: multiple teammates editing the same model, with notes, version history, and role-based access.
What it’s best for:
- Finance teams that already have a model and want more leverage on it
- Multi-entity and multi-revenue-stream forecasting without rebuilding the model every quarter
- Board-ready forecasting
- Real-time collaboration across finance, ops, and leadership
- Planning for fundraising and headcount
Try it if: You want a modern modeling platform that keeps the flexibility of spreadsheets, adds structure and auditability, and makes it easier for non-finance leaders to understand and trust the plan.
Planful
Planful is built for accuracy and control. It offers structured workflows, prebuilt templates, and powerful financial reporting. It’s a good fit for mid-sized teams with established processes and clear FP&A ownership. Think of it as a system to standardize budgeting and close processes rather than a sandbox for rapid, scenario-heavy modeling.
You’ll need time to set it up, but once you do, it’s reliable and structured.
What it’s best for:
- Finance-led planning
- Budgeting and variance reporting
- Teams looking for tight controls and workflows
Try it if: You want a centralized planning environment with well-defined cycles and approvals, and you’re comfortable trading some modeling flexibility for more process and governance.
Anaplan
Anaplan is the heavy hitter. It’s built for scale, with multi-dimensional modeling, real-time updates, and cross-functional planning.
It’s also complex: setup and maintenance often require a dedicated team.
What it’s best for:
- Enterprises with complex needs
- Multi-entity, cross-functional modeling
- Teams with in-house model builders
Try it if: You’re a large enterprise with the budget and resources to match, and you want a highly governed planning hub owned by a central COE or IT team.
Pigment
Pigment is spreadsheet-inspired, but sleeker. It focuses on visual modeling, fast scenario planning, and user-friendly dashboards.
It’s great for companies that want a lighter-weight Anaplan alternative, with strong visualizations and strong collaboration tools. Many teams treat it as an enterprise modeling hub where finance centralizes logic and pushes out views to the business.
What it’s best for:
- Scenario planning
- Sales and finance collaboration
- Teams with some modeling sophistication
Try it if: You like spreadsheets but want something more structured and visual, and you’re ready to invest in a more enterprise-grade modeling environment than pure Excel/Sheets.
Workday Adaptive Planning
If you’re already using Workday, Adaptive Planning can be a natural fit. It connects directly to HR and financial data and uses AI to generate forecasts.
That said, it’s best for companies already deep in the Workday ecosystem. As a forecasting tool, its biggest advantage is proximity to Workday data rather than flexible modeling on its own.
What it’s best for:
- HR-heavy planning
- Workday-native orgs
- AI-assisted forecasts
Try it if: You’re a Workday customer looking for tighter integration and prefer planning that closely follows your existing HR/financial systems, even if it means less modeling flexibility than a standalone platform like Runway or Pigment.
How to choose the right tool
There’s no one-size-fits-all. But there is a best fit for the kind of forecasting you actually do: how complex your model is, how often you change it, and who needs to be inside it.
Here’s what to ask:
- What systems do we already use?
Make sure your tool integrates natively. Manual imports = manual errors. - What’s our biggest pain point?
Is it speed? Accuracy? Version control? Executive reporting? Solve your biggest problem first. - How many teams need to use it?
If planning spans finance, ops, sales, and HR — pick a tool that supports real collaboration, not just spreadsheet sharing. - Can this scale with us?
Your headcount will grow. So will your complexity. Choose a tool that won’t break when that happens. - Do people like using it?
If your team hates the UX, they won’t use it. And then it won’t matter how powerful it is. Forecasts only improve when the people closest to the numbers are willing to live in the tool.
Stop guessing. Start leading.
Most forecasts miss, but they don’t have to. The right tool can turn uncertainty into clarity, and firefighting into foresight.
You don’t need another spreadsheet. You just need a system you can trust. One that updates itself, adapts fast, and lets your whole team plan together.