Stephen Hambling on Kybos Diary of a CFO asks the question “How does FP&A take advantage of AI?”
So how can FP&A really take advantage of AI? The starting point is straightforward but fundamental: you need to be on an AI‑enabled planning platform. Without that modern backbone, even the most impressive AI capabilities will remain largely theoretical. The advances coming through large language models, predictive analytics and generative AI are genuinely powerful. They can interpret natural language queries, detect patterns in vast data sets and generate narratives and insights at a speed that humans simply cannot match. Used well, they will save significant time and enable FP&A teams to deliver far more value than before – but only if your underlying system can support them, capture the right data and make those capabilities accessible in day‑to‑day planning and reporting.
Most organisations grow up on Excel, and for good reason. It is flexible, familiar and deeply embedded in finance processes. However, at a certain scale, spreadsheets start to break or become a serious bottleneck: version control becomes unmanageable, links and formulas fail, and the risk of error grows with every additional tab and workbook. That’s usually the point at which companies move to an EPM platform like Jedox. If you want to harness AI, that move now needs to happen earlier. The old pattern of stretching Excel to its limits before investing in a proper planning system is no longer viable if you intend to compete on speed and insight. Spending fewer years “growing on Excel” and transitioning sooner to an EPM solution is essential, because bolting AI onto spreadsheets is rarely elegant or scalable. You end up with fragile scripts, isolated pilots and manual workarounds rather than a robust, governed capability. Staying in Excel for too long holds you back from participating in an exploding AI marketplace where new tools, connectors and models are emerging at pace – and where vendors are building directly into modern platforms, not legacy spreadsheet architectures.
In a modern environment, AI will increasingly take on routine tasks and scenario work that consume a disproportionate amount of finance time today. You’ll be able to ask for ten different scenarios with defined parameters – for example, “show me the P&L impact of a 5% price increase by product line, combined with a 10% cost inflation in raw materials and a 3‑month delay in planned hires” – and the system will generate them in minutes. You will be able to request a report that compares specific metrics across entities or time periods, automatically highlights anomalies and suggests likely drivers, and the platform will do the heavy lifting. Narrative commentary can be drafted automatically based on the underlying data. That will drive significant time savings and help standardise outputs – but the bigger gain still comes from eliminating manual spreadsheet cycles altogether and embedding these capabilities within a single, controlled model.
Moving to an EPM platform dramatically reduces the effort of sending out, collecting and consolidating Excel templates for budgets and forecasts, then repeating the process for multiple iterations and re‑forecasts. Instead of emailing files, reconciling different versions and chasing stakeholders, you work within a single, centralised application where assumptions, drivers and approvals are managed in one place. That painful cycle of manual distribution, aggregation and error checking can be cut by around 80% simply by adopting an EPM solution. Data loads, driver updates and structural changes can be managed once and reused across models, rather than replicated in dozens of linked workbooks. AI then becomes an additional uplift on top of that – perhaps another 25% in time savings and analytical depth – through automated forecasting, anomaly detection, driver‑based simulations and narrative generation. But the majority of the benefit still lies in getting onto an EPM system first, establishing a clean data model and consistent processes, and then layering AI capabilities over it in a controlled, auditable way.
There is now an even stronger business case than before to move off Excel and onto a modern EPM platform, both to take advantage of current technology and to be ready for what’s coming next. The trajectory of these tools is steeply upward: vendors like Jedox are releasing frequent AI enhancements, new connectors and more sophisticated planning functions. Early adopters are already using AI to run continuous forecasts, stress‑test strategic plans and provide the business with on‑demand insight rather than periodic reports. To benefit, you need to be on that train – and that means being on an EPM system that can fully exploit AI, integrate with your ERP and CRM, and give finance a governed environment to innovate in.
In summary
For UK finance leaders, this is no longer a distant future consideration; it is a practical, near‑term decision about whether your FP&A function will remain stuck in spreadsheet cycles or step into an AI‑enabled planning model that can support faster, better‑informed decision‑making.
AI in EPM is not about replacing finance professionals. It is about strengthening their capability and expanding their influence.
Organisations that embrace AI within EPM will not only improve efficiency. They will improve the way they steer the business, respond to change and create long-term value.
Other content you may like
Aout Kybos
Kybos is a dedicated UK Jedox gold partner. We build planning and analysis solutions that deliver value fast using accountancy qualified consultants. Whether you want a fully customised application or to build upon an existing solution, Kybos consultants are here to help.