Mosaic vs Datarails vs Cube: Best FP&A Tool for Excel Users?

Financial Planning & Analysis (FP&A) is undergoing a rennaisance. For decades, the “tool” was just Excel. Then came the big, clunky ERPs like Anaplan and Oracle. Now, we are in the era of ”Excel-Native” FP&A solutions—tools that try to give you the power of a database while keeping the flexibility of a spreadsheet.

Three names dominate the mid-market conversation: Mosaic, Datarails, and Cube. But if you are an Investment Bank or a PE firm looking for these capabilities, you might be looking in the wrong place.

Here is the breakdown of the FP&A landscape and why o11 offers a distinct “Banking-Native” alternative.

The Contenders

1. Datarails

The Pitch: “Don’t change how you work.” Datarails is famous for letting you keep your existing Excel models. It works by sucking data out of your spreadsheets into a centralized database, then pushing it back when you need it.

• Pros: High adoption because users stay in Excel. Great visualization dashboards.
• Cons: Primarily focused on backward-looking reporting and consolidation. Can get expensive.
• Best for: CFOs of mid-sized companies who want to automate the monthly close.

2. Mosaic

The Pitch: “Strategic Finance Platform.” Mosaic positions itself as more than just a tool—it’s a “Strategic Finance” layer. It connects to your ERP (QuickBooks, NetSuite) and CRM (Salesforce) to give you real-time metrics.

• Pros: Beautiful UI. Pre-built templates for SaaS metrics (ARR, Churn, etc.).
• Cons: Less flexible than pure Excel. If your business is unique, you might fight the templates.
• Best for: Tech startups and SaaS companies needing out-of-the-box metrics.

3. Cube

The Pitch: “The First Spreadsheet-Native FP&A Platform.” Cube emphasizes its nimble connection to both Excel and Google Sheets. It creates a “Cube” of data that you can query from your spreadsheet.

• Pros: Very flexible. Good balance of control and freedom.
• Cons: Requires setup and mapping of data dimensions.
• Best for: Agile finance teams who want to build their own custom models.

The “Corporate” vs “Capital Markets” Divide

Here is the catch. Mosaic, Datarails, and Cube are built for Corporate Finance teams—CFOs running a specific company.

But if you are in Investment Banking, Private Equity, or Capital Markets, your needs are different.

• You aren’t reporting on one company; you are analyzing hundreds of potential targets.
• You don’t have access to their internal ERPs; you are working with messy PDFs, CIMs, and data room dumps.
• Your output isn’t a monthly dashboard; it’s a Deal Model or a Pitch Deck.

For you, “FP&A software” is overkill in the wrong direction. You don’t need a database connector; you need an Execution Accelerator.

o11: The Banker’s Excel Layer

o11 is built for the dealmaker, not just the controller. We understand that your “database” is often a folder of PDFs or a messy client spreadsheet.

Why o11 Wins for Deal Teams:

• No Setup Required: Unlike Cube or Mosaic, you don’t need to implement o11. You install the add-in, and it works.
• Unstructured Data to Excel: Datarails connects to NetSuite. o11 connects to PDFs. Drag a PDF balance sheet into Excel, and o11 parses it into your model instantly.
• Generative Modeling: Need a DCF? Don’t just pull data. Ask o11 to build the structure. “Create a 5-year projection model assuming 10% CAGR and 20% EBITDA margins.”
• Cross-Office Power: We don’t stop at Excel. We take those Excel tables and sync them perfectly into your PowerPoint slides and Word memos—automated and error-free.

Summary

• Go with Datarails/Mosaic/Cube if you are the VP of Finance at a Series B SaaS company trying to automate your monthly Board deck.
• Go with o11 if you are an Analyst, Associate, or VP in Banking/PE trying to close deals, model targets, and generate pitchbooks faster than humanly possible.

Ready to see the difference? Try o11 today.