From Cell References to Model Variables
Taimur Abdaal, CEO of Causal, on the primitives of financial modelling
The core weakness of spreadsheets is not sharing, it is that the model itself is stored as a maze of cell addresses instead of business concepts. In practice that means revenue logic lives inside formulas like B12 times C27, data imports have to be stitched into tabs by hand, and only the spreadsheet author usually knows what will break if one row moves. Causal is built around variables and categories, so revenue, department, and month become named model objects that can connect directly to live systems and dashboards.
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Causal handles data imports by mapping source system fields like a NetSuite revenue account into model variables, then refreshing actuals into the right months and categories. That is different from spreadsheet add ons, which improve syncing and dashboards but still leave the underlying logic inside cell formulas.
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This is why finance teams often keep using Excel or Sheets even after buying planning software. Large planning systems help with workflow and consolidation, but custom revenue and expense logic still gets built in spreadsheets because those models need flexibility. The modeling layer is the hard part.
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The market has split into three product choices. Spreadsheet enhancers like Vena preserve Excel and fix permissions and integrations. Vertical FP&A tools structure finance workflows. Causal is trying to replace the spreadsheet logic layer itself, then add collaboration, dashboards, and versioning on top.
The next wave in FP&A will be won by tools that turn business logic into readable, reusable model objects, then combine actuals, forecasts, and presentation in one place. As finance teams pull more ERP, CRM, and warehouse data into live models, products built around cells will keep feeling like patched legacy systems, while variable based tools can spread from finance into every team that plans with numbers.