Is Excel still the best tool for nearly everything FP&A related?

No but Excel is still the dominate tool for many things FP&A related.  Excel and spreadsheets are not going anywhere but one needs to recognize the limits and have a well rounded tech stack to be more effective. 

The versatility of excel and it accessibility within Finance and across organizations make it the "best" tool for FP&A. 

A major concern with this question is the notion that their is a singular best tool for every FP&A task. FP&A talent need to embrace new technology that allows them pick the "right tool for the right job". With more and more data becoming available to us the processing limitations of excel become evident and having the expertise to analyze with statistical software, capture data or workflows using low code , and providing visualization or data discovering through self-service dashboarding applications will all become requirements within FP&A.

Excel has long been a staple tool for FP&A tasks. It offers a wide range of functionalities and flexibility that make it suitable for various purposes. However, it's essential to recognize that technology and software advancements have expanded the options available for FP&A professionals. While Excel remains a valuable tool in many respects, it may not always be the best choice for every FP&A-related task. Depending on the complexity of the analysis, the volume of data, and the specific requirements, other specialized software and tools might provide enhanced capabilities, efficiency, and accuracy. It is crucial for CFOs and their teams to assess their unique needs, evaluate alternative solutions, and adopt the most suitable tools to drive optimal FP&A outcomes for the organization.