Spreadsheet is one of the most powerful and flexible tools ever created.
And most financial models still live in spreadsheets. Spreadsheets start as quick tools, then they grow. And over time, they turn into something harder to manage, with dozens of tabs, fragile formulas, and files passed back and forth on Slack.
Soon, you’re not just modeling. You’re managing complexity.
At some point, you start asking the question: “Is there a better way to do this?”
There is.
Why Excel stops working
Excel is powerful, but it wasn’t built for collaboration, live data, or fast iteration. Especially when one or two people quietly become “the model owners” and everyone else has to wait for them to make changes.
You try to scale it by adding more layers. You make copies to protect formulas. You link tabs. You protect cells. And eventually, the spreadsheet isn’t just a model anymore. It’s an artifact that only one person fully understands.
You’re solving for business clarity, but the model is slowing you down. That is where modern planning platforms come in.
What to look for in an Excel alternative
The best tools don’t try to replace spreadsheets entirely. They replace the parts that break.
Look for:
- Real-time collaboration - so multiple people can plan together
- Live data integrations - so forecasts don’t fall out of sync
- Scenario modeling - so you can ask “what if?” without rebuilding
- User-friendly design - so everyone understands what they’re looking at
- Built-in controls - so you don’t lose track of who changed what
- Scale and security - so the model grows with the business
A good tool should make planning faster.
A great one should make it more thoughtful.
Tools that work like Excel, but better
Here’s how the most common Excel alternatives compare, by how they feel to use.
Runway
Runway is designed for teams that want to move quickly without losing precision. Think fast-moving finance teams (inside companies of any size) that already own a spreadsheet model and need more leverage on it. You get the flexibility of spreadsheets, but with built-in structure. The model updates in real time. Everyone works from the same version, and changes are transparent.
You can simulate growth, model headcount, test burn, or prep for a fundraise, all in one platform.
Because Runway connects directly to your accounting, CRM, and HR systems, your actuals stay up to date automatically.
And because the UI is simple, every department can understand what’s going on.
- Best for: Teams with a clear model owner who want to run more “what if?” questions, share the model with non-finance leaders, and keep structure as complexity grows
- Strengths: 750+ integrations, fast modeling, instant scenario planning, clean UI, collaborative by default
- Tradeoff: Less suited if your top requirement is a heavily governed, IT-owned system rolled out to thousands of occasional users; built for model owners, not central COEs
Causal
Causal lets you build visual, interactive models that feel like spreadsheets, but with added structure. You can share dashboards, visualize outcomes, and collaborate without digging through formulas.
It’s approachable. It’s clean. It’s great for early finance teams.
- Best for: Lightweight models or non-finance builders who want something more structured than Sheets but don’t need deep FP&A workflows yet
- Strengths: Dashboards, ease of use, clean logic
- Tradeoff: Feature set is lighter than more advanced platforms
Google Sheets (plus add-ons)
Google Sheets solves Excel’s biggest flaw: version control. Everyone can edit the same doc. And for small teams, that’s actually enough.
But the limits show quickly. As the model grows, so do the performance issues. You spend more time building workarounds than making decisions.
- Best for: Very simple models and very early workflows where a full planning platform would be overkill
- Strengths: Familiar, free, easy to start
- Tradeoff: Struggles with scale, limited modeling depth
Mosaic
Mosaic focuses on real-time reporting and standardization. It connects your systems and gives you a single source of truth for planning. It works well if you want out-of-the-box dashboards and templates, and are happy to adapt your process to them.
- Best for: Teams that want standardized reporting and metrics more than highly customized models
- Strengths: Reporting, integration depth, automation
- Tradeoff: Setup can feel rigid if your process is non-standard, and teams often outgrow it when they need more flexible modeling and scenario structure than templates allow
OnPlan
OnPlan helps teams connect Excel to business systems like QuickBooks and Salesforce. It works best if you already have a spreadsheet model, but want to add automation and data sync.
- Best for: Teams who want to stay close to Excel
- Strengths: Fast implementation, data connectors
- Tradeoff: Doesn’t go as far as purpose-built modeling platforms
Choosing the right tool for your team
There’s no perfect answer.
But here’s where to start:
- If your team is growing: Choose a tool that lets others contribute without breaking the model.
- If your models are complex: Look for scenario planning and flexible drivers.
- If your data is scattered: Prioritize integrations.
- If your current workflow feels slow: Pick something collaborative and intuitive.
- If you’re always behind on reporting: Automate the basics.
- If one or two people quietly “own the model” today: Choose a platform that gives them more leverage, not more manual work.
Tools like Runway, Causal, and Mosaic aren’t just replacements for Excel. They’re invitations to rethink how planning should feel: faster, clearer, and built for collaboration.
The point isn’t to replace Excel
It’s to replace the friction, the late-night version chases, the endless cell tracing, and the planning that happens in silos.
With the right tool, you stop modeling in isolation.
And you start modeling as a team.