A review of the 6 best Mosaic competitors and alternatives in 2024

When choosing an FP&A software, you need to consider a few important factors, such as ease of use along with analytics, integrations, and other custom features that you adapt as your business grows. 

Mosaic is a cloud-based FP&A solution that helps small and mid-sized businesses with real time financial reporting, budgeting, and planning for informed decision making. However, its limited integration capabilities and low data security and compliance restrict its utilization. 

In this article, we have listed and detailed the top 6 Mosaic alternatives to help you pick the best FP&A solution for your business.

Mosaic software review

Mosaic is a cloud-based FP&A solution that automates financial operations. It enables finance teams and other departments to collaborate on a unified, cross-functional platform that serves as a single source of truth for the entire business and easily combines information from different ERP, CRM, HRIS, and billing systems. It has a chat-based AI tool to help users monitor their workflows, view insights, and automate tasks. 

Analytics and planning are Mosaic's key features. The analysis canvas provides a collaborative space for teams to work on reports and surface insights. Further, the financial modeling tool lets finance teams scale their financial planning with pre-configured components and flexible drivers. Mosaic also offers model builders, 3-statement models, and what-if scenario planning. 

It is helpful for businesses looking to initiate financial planning and forecasting without building models from scratch. However, for companies with complex financial needs, Mosaic's rigid structure and limited integrations may present challenges. Mosaic users have also expressed concerns about security features.

Key features

• Saves time and reduces error: Automates manual collection of data and provides a central platform for consolidating data.
• Budgeting and forecasting: Collects and analyzes data to help users understand their current and projected revenue, expenses, and cash flow.
• Visualization: Offers different methods of visualizing data through dashboards, statistical graphs, and charts.
• Collaboration: Allows users from different teams to work on the same document in real time for quicker updates and decision-making.
• Version control: Updates changes quickly so users have their most recent data.

Pros

• Creates accurate and realistic financial forecasts.
• Eliminates manual entry by importing data and maintaining accuracy.
• Makes data visualization easy through dashboards, graphs, and charts.
• Allows custom report generation by combining multiple department reports.

Cons

• Not designed for non-SaaS operations.
• Implementation can take several months.
• Steep learning curve — users have trouble understanding how to navigate the platform.
• Data importation and integration can be time-consuming.
• Users have trouble analyzing back-end data to suit their business needs and must rely on the fixed metrics.
• Limited scalability due fewer customization options and financial models.
• Support takes longer and is only via chat or email, making issue resolution slower than competitors.

Explore the strongest competitors and best alternatives to Mosaic

Mosaic stands out as a strategic finance platform tailored for project teams in a dynamic business environment. It offers real-time analytics and planning capabilities, ensuring that businesses can swiftly transition from data to decision-making. However, if your business has more complex requirements, you may want to consider FP&A software alternatives to Mosaic. 

We’ve done the research and detailed some of the best alternatives and competitors to Mosaic, especially for rapidly growing startups and B2B companies, to help you compare and make an informed decision.

Drivetrain

Drivetrain is a third generation FP&A platform. With Drivetrain, you can easily consolidate your financial and business data on a single platform (without IT support) and track all key financial and non-financial metrics in real time (without manual interventions or unwieldy spreadsheets).

With Drivetrain, you get the best of both worlds --- it is a simple yet powerful platform with a host of features that enables business leaders and finance teams to build financial models, conduct what-if analysis, develop accurate budgets, and present board-ready reports (among others).

The platform allows easy collaboration across teams through its highly intuitive and familiar spreadsheet-inspired interface. With 200+ integrations, Drivetrain automates data consolidation from different systems and apps, helps finance teams slice and dice that data, and generates data-driven insights in real time to aid decision-making. Drivetrain also helps businesses identify the key drivers of their financial performance and eliminate bottlenecks with one-click root-cause analysis. 

Drivetrain is the top choice for growing businesses looking for a platform that is easy to use and has a short learning curve. In fact, even non-finance users can also easily build financial models using plain English formulas. 

Key features and capabilities

• User interface: Comes with intuitive design features and easy-to-use spreadsheet functions.
• Native integrations: Streamlines data consolidation with over 200 integrations that reduce the need for manual entry.
• Predictive forecasting: Provides accurate financial forecasts using predictive analytics.
• Multi-dimensional modeling: Tailors inputs, calculations, and outputs as per your organization's unique requirements.
• Scenario planning and what-if analysis: Performs scenario planning and what-if analysis in real time to evaluate the impact of different scenarios on financial forecasts.
• Role-based access control: Reduces data security concerns and maintains regulatory compliance by restricting access to specific data, reports, models, or dashboards.
• Dynamic dashboards: Converts complex financial data into easily understandable charts and graphs, and allows users to monitor key performance metrics and track financial health and  business performance, in real time, to make more informed decisions.

What users say about Drivetrain 

“After a thorough evaluation of almost 6 months, we decided to try this tool called Drivetrain. They came highly recommended by a colleague of mine so we did a PoC with them and were quite impressed. What really stood out was the kind of support we got from them. Their team took care of the initial build of all our models (that too in a couple of weeks).” – Reddit 

Cube

Cube is a spreadsheet-native, cloud-based business forecasting software that helps business leaders and finance teams streamline financial forecasting, workflow management and budgeting operations. It allows accounting teams to manage payments, conduct audits, and generate financial reports. Teams familiar with Excel and spreadsheets can easily adopt Cube without a long learning curve. 

Key features and capabilities

• Bidirectional integration: Easily imports and exports information to and from Excel and Google.
• Data consolidation: Automates data consolidation from multiple systems into a single repository, allowing for easier collaboration.
• Customizable dashboards: Helps create customizable dashboards and reports by visualizing data from various sources in one place.
• Real time data syncing: Provides the most current information for financial models, reports, and forecasts to ensure accuracy and relevance.
• Data security: Protects user data with built-in robust security controls.

What users say about Cube

“Cube does a great job of combining the flexibility of your existing excel/gsheets with the security and controls of a cloud-based enterprise software…The main pain point with Cube is that you are restricted to row and file size limits that all spreadsheets have. If you are a rapidly growing company with a ton of customer and sales data (many rows), it might be a hindrance.” – G2 Review

Abacum

Abacum is a strategic FP&A platform that enables businesses to enhance scenario analyses, automate budgeting workflows, streamline leadership approvals, and effectively consolidate bottom-up and top-down forecasts. The tool acts as the single source of truth for automating critical budgeting processes. Abacum is best suited for mid-market companies and scale startups that are in need of a robust but flexible planning solution. 

Key features and capabilities

• Automated budgeting: Streamlines budgeting by automating all the steps from data collection to report generation.
• Scenario analysis: Evaluates multiple scenarios and compares different situations to develop the most accurate financial forecasts.
• Headcount planning: Facilitates company headcount planning and forecasting to optimize resource and workforce allocation.
• Easy collaboration: Facilitates seamless collaboration and data sharing within workflows and across finance teams.
• Cloud-based integration: Offers real time access to financial reports through Excel and Google Sheets.

What users say about Abacum

“I appreciate [Abacum’s] ease of use and the seamless experience…Lack of customizability in a few instances was a minor drawback, but overall, my experience using the FP&A tool has been incredibly positive.” – G2 Review

Vena

Vena offers integrated business planning, financial reporting, regulatory compliance reporting, and financial close management—that can be customized for specific business needs and industry requirements. It is an Excel-based planning platform, developed mainly for Microsoft 365, and comes with Power BI embedded to enhance its functionality with native Excel. Vena is mainly for users who are heavily dependent on spreadsheets but need it for more complex calculations.

Key features and capabilities

• Financial planning and analysis: Offers all the integrations, data model, and data analysis tools to support financial planning and analysis needs.
• Financial reporting: Automates financial reporting processes and ensures finance teams have more time for analysis and insights.
• Regulatory reporting: Eliminates the complexities and manual errors associated with regulatory compliance and reporting.
• General ledger: Tracks all financial activity, including income and expenses, on a single unified platform.

What users say about Vena

“[Vena] is really simple and easy to use with workforce modules and cash flow models highly efficient for our case…some functions with cash flow model are hard to master, it needs detailed and highly specific knowledge in IT to manage efficiently this product.” – G2 Review

Pigment

Pigment is an enterprise-grade FP&A software for enhancing business planning, budgeting, forecasting, and reporting. Pigment incorporates AI features that facilitate data querying, pattern identification, and automated reporting to make it easier to extract insights quickly. It is used by finance and revenue teams to efficiently execute strategic finance operations.

Key features and capabilities

• Financial planning: Supports complex financial modeling, scenario planning, and real time data analysis, allowing finance teams to create accurate forecasts and budgets.

• G-suite connector: Enables users to move data from business and financial models to presentation slides
• Custom dashboards: Offers personalized dashboards that monitor relevant metrics and KPIs to track business performance

• User-friendly interface: Offers an intuitive interface that simplifies planning, enhances productivity, and reduces the learning curve
• Automated data imports: Collects accurate data from multiple sources in real time, reducing the scope of manual errors

What users say about Pigment

“Pigment will require more technical savvy as it isn't as intuitive as say excel functions. It will take a technical person (who is SQL savvy) probably 5 months to get up to speed on syntax but a typical FP&A person, maybe 12 months depending on their capability. Majority of use cases can be modeled out if you can structure and model it out correctly (think blank canvas). So the good news is that it is flexible and powerful but you gotta have some technical chops.” – Gartner Peer Review‍

Runway

Runway is a fast-growing, cloud-based platform that allows businesses to create, manage, and share financial models and plans. Its Ambient Intelligence feature proactively shares insights and automates workflows, without the need for prompts.  It also uses artificial intelligence to generate insights using business data and strategic goals.

Key features and capabilities

• Driver explanations: Generates clear, concise explanations for all financial drivers, so that everyone in the company can quickly understand the business model and accurately interpret the data.
• BvA variance: Automatically analyzes budget vs. actuals, allowing users to identify variances without manual intervention
• Scenario comparisons: Summarizes differences from multiple scenarios, to highlight the impact of future plans on key metrics and help finance teams make strategic choices
• Integrations: Allows comprehensive data integration and management by integrating with over 650 business and accounting tools, including QuickBooks, Stripe, and HubSpot

What users say about Runway

“It's great having different scenarios that allow you to create best/worst case scenarios to compare to your base case. There is a steep learning curve with the build, which is why I chose to use a [Runway] consultant.” – G2 Review

Choosing the best Mosaic alternative for your business

FP&A software optimizes financial planning and decision-making for growing SaaS businesses, by:

• Automating data consolidation for budgeting, forecasting, and planning, and streamlining reporting processes.
• Creating scenarios to model different business outcomes and evaluate risks.
• Aligning teams on financial goals and performance through cross-functional collaboration.
• Using predictive analytic AI to generate more accurate and data-driven insights and for strategic decision-making.

While Mosaic works well for small to mid-sized businesses with standard business and financial needs, it lacks the flexibility and customization that growing SaaS companies require.

Drivetrain, however, is better suited for rapidly scaling startups and businesses that need multi-dimensional modeling, dynamic reporting capabilities, comprehensive integrations, and more, on a single, robust platform.

Learn more about Drivetrain here or request a free demo.