Categories   >   Financial Management Software
Last Reviewed: November 7th, 2024

Best Financial Management Software Of 2024

What is Financial Management Software?

Financial management software acts as a central hub for businesses to oversee their financial activities. It addresses the challenges of manual bookkeeping, scattered data, and inefficient financial processes. This software is crucial for maintaining accurate financial records, ensuring compliance, and making informed decisions. Key functionalities include tracking income and expenses, budgeting, generating reports, automating tasks like payroll, and integrating with other business systems. Emerging features involve AI-powered analytics and forecasting. While suitable for businesses of all sizes, it's particularly beneficial for those with complex financial operations or rapid growth. Limitations may include the initial setup cost and the need for ongoing maintenance. In essence, financial management software streamlines financial operations, enhances accuracy, and provides valuable insights for better decision-making, ultimately contributing to a company's financial health and success.

What Are The Key Benefits of Financial Management Software?

  • Real-time Tracking
  • Automated Tasks
  • Improved Accuracy
  • Better Budgeting
  • Clear Cash Flow
  • Simplified Reporting
  • Informed Decisions
  • Reduced Costs
  • Enhanced Security
  • Goal Achievement
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Overall

Based on the latest available data collected by SelectHub for 37 solutions, we determined the following solutions are the best Financial Management Software overall:

Mint
Mint
Start Price
$0
Freemium, Monthly
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
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Why We Picked Mint

How much mulla can Mint really help you hold onto? User reviews from the past year paint a picture of a once-lauded budgeting app facing its final curtain call. Mint, known for its comprehensive financial tools, allowed users to aggregate their financial accounts, track budgets, receive bill reminders, and monitor credit scores, all for free. Users consistently praised Mint's user-friendly interface and lauded its ability to provide a holistic view of their finances, making it a breeze to track spending and identify areas for improvement, like curbing those impulse Amazon purchases. However, the app's once-sparkling reputation has been tarnished by an uptick in negative reviews, with users reporting frequent syncing issues and an onslaught of intrusive ads. While Mint's strengths, like its intuitive design and robust feature set, initially positioned it as a frontrunner in the budgeting app arena, these advantages are increasingly overshadowed by its shortcomings. The frequent syncing issues, in particular, are a major pain point for users, as they hinder the app's ability to provide accurate and up-to-date financial information. Imagine diligently tracking your spending, only to be thrown off by inaccurate account balances due to syncing errors - not exactly a recipe for financial peace of mind! Moreover, the influx of ads, while understandable for a free app, has reached a point where many users find them disruptive and excessive. Ultimately, while Mint might still hold some appeal for casual budgeters, its waning reliability and aggressive advertising strategy make it difficult to recommend wholeheartedly. The announcement of its shutdown in March 2024 further solidifies this stance. For those seeking a reliable and feature-rich budgeting companion, alternatives like YNAB (You Need A Budget) or Personal Budget might be a better fit. These apps, while not without their quirks, offer a more polished and reliable experience, ensuring your budgeting journey is smooth sailing rather than a bumpy ride.

Pros & Cons

  • Free and Feature-Rich: Mint offers a robust set of budgeting tools at no cost, making it accessible to a wide range of users.
  • User-Friendly Design: The app is designed with an intuitive interface that's easy to navigate, even for those new to budgeting apps.
  • Real-Time Updates: Mint provides real-time updates on transactions and budget limits, helping users stay on top of their finances.
  • Customization Options: Users can customize budget categories and goals to align with their specific financial needs and priorities.
  • Intrusive Advertisements: The inclusion of ads in the free version can be distracting and disruptive for business users who require a focused environment.
  • Synchronization Issues: Occasional problems syncing with financial institutions can lead to inaccurate data and disrupt workflow, impacting financial analysis and decision-making.
  • Limited Customer Support: The lack of comprehensive customer support options can be problematic for businesses that require timely assistance with technical issues or have specific questions related to their business needs.

Key Features

  • Easy Setup: Sign up and connect financial accounts. Track bank, credit card loans and other investments. 
  • Secure Linking: Connect all financial accounts securely. 
  • Budget: Create a budget based on the historical patterns of average expenses. Spend cautiously and save more. Get a unique budget for each category and calculate funds for as many categories as they need. 
  • Tracking: Track all bills from one place, including credit cards to utility bills. Ensure bills get time with monthly reminders. Get alerts for low funds or unusual spending. 
  • Alerts: Get notified via email or text alerts for any unusual activity on the account, bills and low balances. Check for any suspicious spending. 
  • Free Credit Score: Get a free credit score minutes after identity verification without the need of a credit card. Verify the identity and check for credit scores and accounts at one place. Monitor credit daily and improve the score. 
  • Automatic Subscription Tracking: Check subscriptions in-app by connecting any bank or credit card. Get automatic notifications on price change and stay at the top of the spending. 
  • Categorization: Categorize and customize transactions with tags to keep track of the spending and proceed with insights. Check total spending across all the accounts at one place. 
  • Report: Get simple, customizable reports with the Trends feature. Generate different types of reports such as spending, income, net income, debts and net worth. Get investment information for performance, value, asset allocation and more. 
Bloomberg Terminal
Bloomberg Terminal
Start Price
$0
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
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Key Features

  • Activity Dashboard
  • API
  • Audit Trail
  • Data Visualization
  • General Ledger
  • Income & Balance Sheet
  • Profit/Loss Statement
  • Real Time Data
  • Visual Analytics
Tipalti
Tipalti
Start Price
$129
Monthly
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
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Why We Picked Tipalti

Tipalti is a robust accounting ERP that streamlines all workflows and bookkeeping needs. Its implementation is comfortable and pleasing to users. Its performance is impeccable because it provides a centralized location for various payment options and its modules — tax compliance, billing, invoicing, payment management and more — offer efficient bookkeeping needs. Users also agree that the customer support team is quick to respond and resolve problems. Despite some users' sentiments about the clunky interface and non-flexible reporting apparatus, most find this solution as a handy asset.

Pros & Cons

  • Implementation: Of the users who addressed this solution's implementation process, 58% said it was fast, easy and pleasing.
  • Customer Support: Approximately 69% of users who mentioned this program's customer support said employees were reliable and quick to respond.
  • Performability: Of the users who spoke of the application's overall performance, nearly 82% said it was user friendly, easy to use and centralized payable options in one location.
  • Functionality: Roughly 54% of users who discussed this solution's functionality revved about the easy transfer management, invoicing and various payment methods such as ACH, e-check, PayPal and wire.
  • Interface: Of the users who addressed this solution's interface, 41% said it was clunky.
  • Reporting: Approximately 45% of users who discussed this software's modules said the reporting function either couldn't customize reports or duplicates reports unnecessarily.

Key Features

  • Collect Tax Forms: Browse and choose the exact forms with more than 1,000 rules and TIN matching confirmation details with the tax form selection wizard extension on the supplier management appliance. There are end-of-the-year 1099 and 1042-S reports that offer submission-ready documents to superintend reporting to federal and state authorities, including withholdings. The tax compliance features are KPMG-approved meets all IRS requirements. 
  • Swiftly Send Invoices: Send invoices via email or upload them to their portal to track their progress with the inventory management component. Users can deliver invoices directly to their accounts payable alias, import them directly from the supplier or AP Hubs and clone protection notifications if the bill looks similar to a previous invoice. 
  • Customize Purchase Orders (PO) Agreements: Work with PO operations that save users time and effort thanks to the PO matching apparatus. Users gain greater compliance with their company's purchasing policies. Every invoice goes through benchmark optical character recognition (OCR), advanced data collection and approval operations before the payment is processed. 
  • Meet International Tax Compliances: Leverage local and VAT tax ID collection for non-US payers via the tax and VAT compliance feature. This tool can monitor document collection for European regions so vendors may add supplementary information accordingly and activate self-billing invoices when suppliers need to approve invoices before handling them. 
  • Full Payment Visibility: Keep suppliers in the loop about processed payments in addition to failed expenditures and why they failed with the global payment appliance. Suppliers may also review their complete payment history with the online portal function, eliminating spent-hours on troubleshooting. This component notifies payees if additional details are needed to complete the payment, whether or not tax forms need updates and more. 
  • Perform Payee Approval Self-Billing: Generate bills and mark them as pending payee approval or pending payee invoice — depending on their specific country — with the self-billing appliance. This apparatus formulates bills via API or CSV and enables payees to receive email alerts to approve bills. Payees may approve bills or provide emails as well as initiate payments that align with payee preferences. 
  • Integrate with Other ERP and Accounting Software: Sync payment results with their ERP or accounting solutions automatically via the payment reconciliation tool. This tool reduces extra work for teams within a user's business, diminishes errors and depletes unnecessary stress during close processes. 
  • Upkeep Archives of Suspicious Actions: Stay on top of threatening activities by keeping backlogs of case records to know who evaluated a case, its assessment date, the outcome and why with the detect appliance. Users can print intricate payee reports to review why a payee is blocked and what stage of risk the payee inhabits. This tool aids users in stopping swindlers before making a payment, saving their company money. 
Adaptive Insights
Adaptive Insights
Start Price
$5,000
Monthly
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
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Why We Picked Adaptive Insights

Prior to being acquired, Adaptive Insights' robust planning and budgeting capabilities have earned high praise from users, who appreciate its intuitive interface and flexible reporting options. The ability to create custom dashboards and drill down into data for granular analysis is particularly valuable for finance teams. However, some users have reported challenges with data integration and slow performance when working with large datasets.

Compared to competitors like Oracle Hyperion and SAP BPC, Adaptive Insights stands out for its ease of use and faster implementation times. Its cloud-based deployment model makes it accessible to businesses of all sizes, while its integration with other Salesforce products provides seamless data sharing. However, Oracle Hyperion offers more advanced features for complex financial planning and analysis, and SAP BPC has a stronger track record in large enterprise deployments.

Overall, Adaptive Insights is a solid choice for mid-sized businesses seeking a user-friendly and affordable EPM solution. Its strengths in planning, budgeting, and reporting make it a valuable tool for finance teams, while its cloud-based deployment and Salesforce integration offer flexibility and ease of use.

Pros & Cons

  • Real-time Reporting: Adaptive Insights provides real-time access to financial data, enabling users to make informed decisions based on up-to-date information.
  • Collaborative Planning: The platform facilitates collaborative planning across teams, allowing users to share insights and align on financial goals.
  • Scenario Modeling: Adaptive Insights enables users to create and compare multiple financial scenarios, allowing them to explore different options and make data-driven decisions.
  • Intuitive Interface: The software's intuitive interface makes it easy for users to navigate and access relevant data, even for those with limited financial experience.
  • Scalability: Adaptive Insights can scale to meet the needs of organizations of all sizes, from small businesses to large enterprises.
  • Limited Customization Options: Users report that Adaptive Insights' pre-built templates and dashboards can be inflexible, making it difficult to tailor the software to their specific business needs.
  • Steep Learning Curve: Many users find Adaptive Insights' interface and functionality to be complex and challenging to navigate, requiring significant training and support.
  • Limited Data Integration Capabilities: Users express concerns about the software's ability to seamlessly integrate with other enterprise systems, leading to data silos and inefficiencies.
  • Costly Implementation: Adaptive Insights' implementation costs are often perceived as high, especially for small and mid-sized businesses with limited budgets.
  • Lack of Real-Time Reporting: Some users report that Adaptive Insights' reporting capabilities lack real-time data updates, making it difficult to make informed decisions based on the most current information.

Key Features

  • Modeling: Anticipate the future with a wide variety of planning and forecasting tools. Perform fiscal modeling using business milestones such as the fiscal calendar, funding schedules, academic calendars and revenue recognition schedules. Some of the supported models include forecasting revenue, workforce planning, budgeting expenses, sales planning, SaaS account modeling and capital planning. Employs Elastic Hypercube Technology, which uses model dependencies to determine whether results need to be recalculated or not when information changes or stays the same.
  • Active Planning: Connects the finance department with other intercompany workflows to increase transparency and rates of success while also reducing communication errors and inefficiencies. Active planning itself is a method of continuously planning and updating plans using shared and updated data that’s visible across an organization. Enables active planning via a Process Tracker, which provides real-time visibility of individual tasks and planning processes within a company. Develop step-by-step guides for specific user roles, along with links to the location in the system where input is needed.
  • Dashboards and Analytics: Explore data through interactive and personalizable visualizations and dashboards. Within the financial dashboard, conduct period-over-period analysis, find variances from waterfall charts, look at how the budget compares to actual spending and analyze performance trends. Visualize KPIs and share dashboards to help ensure that goals are met.
  • Management and Financial Reporting: Gain deeper understanding through advanced financial and sales technology. Pivot dimensions, select parameters and report on variances. Add annotations and create “point-in-time” snapshot reports so that information can be shared and retained. Drill-down capabilities are available for transactional reports and planning sheets.
  • Board and External Reporting: Connects to business tools such as Microsoft Excel, Word and PowerPoint to help format data in one click. Create income statements, balance sheets, P&Ls, board packs, narrative reports and presentations. Automatically uses refreshed data in existing calculations and formatting as changes are made. Designate static and dynamic elements. The Cell Explorer tool provides visualization of source data and formulas that are used to calculate any given metric in a report.
  • Cloud Integration: Automates data flows so that source data from a company’s various software systems are easily accessible. Work with data that comes directly from the source, with less worry about typos or other accidental manipulations of data that could alter calculations. More than 2,000 integrations are possible with vendors such as Oracle, SAP, MS Dynamics, Salesforce, Plex, Epicor and Workday. 
  • Financial Consolidation: Automates processes such as currency translations, reporting and reclassifications. Define and automatically calculate ownership percentages and minority interest. Conducts financial consolidation in real time and with no long-running processes and no batch jobs, granting full visibility. 
BlackLine
BlackLine
Start Price
$3,000
Monthly
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
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Why We Picked BlackLine

BlackLine is a popular accounting software that users have praised for its robust features and ease of use. Compared to other products, BlackLine excels in streamlining financial close processes and automating tasks. Its automated reconciliation capabilities reduce manual labor and improve accuracy, freeing up time for more strategic tasks. Additionally, BlackLine's intuitive interface and user-friendly design make it accessible to users of all skill levels.

However, some users have noted that BlackLine's pricing can be higher than some competitors. Additionally, the software's implementation process can be complex and time-consuming. Despite these drawbacks, BlackLine's strengths, such as its automation capabilities, reconciliation accuracy, and user-friendliness, make it a compelling choice for businesses looking to improve their accounting processes.

BlackLine is best suited for mid-sized to large businesses with complex accounting needs. Its robust features and automation capabilities can significantly improve efficiency and accuracy for businesses with high transaction volumes or complex financial processes. BlackLine's scalability also makes it a suitable choice for businesses that are growing or undergoing mergers and acquisitions.

Pros & Cons

  • Efficiency: Automates repetitive tasks, such as account reconciliations, saving time and reducing errors.
  • Accuracy: Eliminates manual data entry, ensuring data integrity and reducing the risk of errors.
  • Visibility: Provides real-time insights into financial performance, enabling proactive decision-making.
  • Collaboration: Facilitates collaboration between accounting teams and other stakeholders, streamlining processes.
  • Compliance: Supports compliance with accounting regulations and industry best practices, reducing audit risk.
  • Pricing: BlackLine's pricing structure can be complex and expensive, especially for small and medium-sized businesses.
  • Limited Customization: Users have reported that BlackLine's software lacks the flexibility to adapt to specific business needs and processes.
  • Technical Glitches: Users have encountered technical issues and bugs that can disrupt workflow and cause data loss.
  • Steep Learning Curve: BlackLine's software can be complex and require significant training time for users to become proficient.
  • Customer Support: Some users have expressed dissatisfaction with the quality and responsiveness of BlackLine's customer support.

Key Features

  • Journal Entries: Book journal entries from one centralized location, which reviewers and preparers can both view. 
  • Account Reconciliation: Create a unified, intuitive workspace by automating and standardizing the account reconciliation process resulting in accurate financial statements. 
  • Task Management: Manage accounting and finance tasks with an easily configurable web command center which allows the tracking and control of various functions. Give visibility to any accounting checklist. 
  • Journal Entry: Create, review and approve journals inside a centralized content library where each one is electronically certified and stored. Eliminate manual work by automating the creation and population, journals based on the data and rules. 
  • Transaction Matching: Automate matching and streamlining bank reconciliations, intercompany reconciliations and invoices to purchase order in one centralized workspace. 
  • Varying Analysis: Monitor risk by calculating and identifying fluctuations in account balance to ensure critical management review control and boost decision-making. 
  • Compliance:  Identify risk and perform audits with an integrated, cloud-based solution with real-time intelligence to achieve compliance and build competent risk initiatives 
  • Intercompany Hub: Ensure data integrity and regulatory compliance by creating a single process for creating, posting and settling intercompany transactions. Manage every aspect of intercompany accounting and reconciliations like exchange rates, journal entries, recorded tax and approval workflows. 
  • Smart Close: Simplify, standardize and automate financial close with the Smart Close. Gain clear visibility, impose control on documents and hold employees accountable for the assigned tasks. 
  • Cash Application: Reduce the time to apply cash to open invoices. Eliminate manual intervention with AI and machine learning. Cut down the reliance on remittances and boost accuracy.  
  • AR Intelligence: Process, analyze and send crucial information such as customer payment trends, payment performance data and outstanding sales for the day. Help the business make an educated decision. 
Vena
Vena
Start Price
$5,000
Annual
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
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Why We Picked Vena

Reviews for Vena present a mixed bag, highlighting both its strengths and weaknesses in comparison to similar products. Users praise its user-friendly interface, robust data reconciliation tools, and flexible reporting capabilities. One user remarked, "Vena feels like Excel, but with the power to handle our complex financial data without breaking a sweat." However, some users bemoan limited customization options, stating, "We wanted to tailor Vena to our specific workflows, but the customization tools felt restrictive." Additionally, occasional technical glitches and a relatively high cost compared to competitors like Adaptive Insights and Oracle Cloud EPM were points of concern. Despite these drawbacks, many users believe Vena's strengths outweigh its weaknesses. They appreciate the ease of use, improved accuracy, and streamlined financial processes it offers. One user noted, "Vena has helped us reduce our closing time by 50%, which frees up valuable time for analysis and strategic planning." Ultimately, Vena seems best suited for medium to large organizations with complex financial needs who prioritize ease of use and powerful functionalities. For smaller businesses or those with simpler requirements, alternative solutions might be a better fit.

Pros & Cons

  • Customer Support: Approximately 80% of users who mentioned customer support said the team was helpful and quick in troubleshooting issues.
  • Performability: Of the users who discussed this solution's performance, 67% stated it's easy to use, provides top-notch financial information and is SOX compliant.
  • Modules: Nearly 59% of users who addressed this platform's modules said they're easy to use and offer superb financial planning and analysis information in a timely fashion.
  • Integrations: Of the users who discussed this program's integrations, 80% of users said it seamlessly merges with Power BI, Netsuite and other ERP systems.
  • Limited Customization Options: While Vena offers some customization features, they might not be sufficient for highly specific needs or complex workflows.
  • Occasional Technical Glitches: Some users report experiencing occasional technical glitches and bugs, which can disrupt workflows and impact productivity.
  • Relatively High Cost: Vena's subscription fees can be expensive for small businesses or those with limited budgets.
  • Learning Curve for New Users: Although Vena has a user-friendly interface, it may require some time and training for new users to become fully proficient.
  • May Not Be Suitable for Small Businesses: Vena's features and functionalities might be overkill for small businesses with simple accounting needs.

Key Features

  • Budgeting, Planning & Forecasting: Ensure budgets are consistent across the board and simple to merge with any data source, Excel or otherwise. Utilize the drag-and-drop feature to seamlessly automate the budget processes while designating tasks to employees, keeping stakeholders in the loop with email notifications and monitoring workflows. 
  • Reporting & Data Analytics: Review live data from any department or business on any device with personalized dashboards. “What-If” modeling permits users to visualize results promptly and share them with stakeholders to make data-informed decisions. 
  • Regulatory Reporting & Compliance: Consolidate data and spreadsheets into one central, secure, cloud-based database in real time. Customize roles and permissions to define and enforce strict controls for all users.  
  • Revenue Performance Management: Evaluate customer data such as NPS scores, product usage metrics, customer acquisition and support costs in a single database. Improve customer satisfaction, zero-in on the right customers and bump up customer lifetime value with vital client KPIs. 
  • Technology Platform: Revert to previous spreadsheet versions effortlessly to study changes over time and dig deeper into the reasons behind reported numbers by drilling down to supporting details.  
Certinia
Certinia
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
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Key Features

  • Integration: Get more functionality by integrating ERP with various applications. Build application for the company itself or infuse added features to the said ERP with SalesForce AppExchange. 
  • Mobility: Access applications from devices such as smartphones or tablets. Give users the freedom to enter time cards from a remote location. Collaborate with other users on the go with the application supporting both Android and iOS operating systems.  
  • Analytics Capabilities: Get both standard and customized reports with data located in a single place. Create a personalized dashboard and gain the ability to analyze trends and acquire ad hoc inquiries. Control the visibility of data with security profiles. Make mobile dashboards and reports and view them on different types of devices. 
  • Audit: Automatically track important audit fields. Check evidence of transactions, including files, commentary and scanned documents on a single platform. Enforce financial transparency within the organization and get user-defined tracking of key fields. 
  • Analytics: Get in-depth knowledge of the business with the help of ERP Analytics and Reporting by Salesforce Einstein to boost revenue and expand the organization’s footprint. Keep the operation uniform and predictive with a pre-built dashboard and fine-tuned data. 
    • CFO Dashboard: Make timely informed decisions by gaining instant access to a global financial view. Determine trends in cash flow and aggregate across multi-company and multi-currency scenarios.  
    • Trend Predictions: Get the insights required to make well-informed decisions. Use predictive power of the Einstein solution across the general ledger and balance sheet. Identify revenue patterns, and determine when to strategize according to the behavior. Keep a tab on the financials in summary or item by item.  
    • Insights: Look over different accounting transactions. No need to run cumbersome programs, calculations and update operations. Create or select from financial statements templates. Make use of various pictographs to conduct multi-dimensional analysis. Make customization and configuration easy with SalesForce Lightning Web Components. 
    • Mobile-Friendly: Access contextual reporting, analytics anywhere, anytime.  
  • Procurement: Minimize costs and prevent contract leakage while enforcing spend controls. Give approvers the power to approve and deny purchases quickly with an automated workflow. Gain visibility and control over procurement to payment for direct and indirect spend. 
    • Requisition: Get complete visibility of the send the minute a requisition gets placed with the procurement software—built on the Salesforce platform. Automatically enforce the spend policy before a purchase order is created. Ensure that the budget is in line and the margins are positive. See that the accounting is straight with the purchase order accruals. Create recurring purchase orders for repeat requests and put procurement hierarchies and multiple requests into a single purchase. 
    • Suppliers Agreement: Get current and correct details of the prices, approved suppliers, pricing and catalogs online with the procurement program. 
    • Sourcing: Compare price, delivery and special conditions by capturing bids in a single repository. Send requirements to multiple suppliers at once. Gain insights into supplier analysis by tracking historical sourcing data. Convert sourcing requests to purchase orders with a single click. Take advantage of pre-negotiated supplier agreements. 
    • Purchase Order: Ensure traceability and accuracy across the entire procedure. Automate purchase order creation with supplier agreement. Track metrics and procurement analytics. Manage and analyze procurement of goods and services across the organization.  
  • Revenue Management: Reduce period-end close by automating calculations and gain transparency into recognized and deferred revenue.  
    • Revenue Recognition: Track all streams—products, subscriptions, services and usage-based contracts in one system which supports multiple currencies and entities. 
    • Audit-Friendly: Ensure adherence to the ASC 606 and IFRS 15 standards. Boost the audit transparency and visibility of revenue recognition data. Automate practices and match revenue to performance obligations. Manage customer and billing activity alongside everything with SalesForce. 
    • Compliance: Record transactions accurately by enforcing standards. Check the impact and accordingly adjust the processes directly into the system. Support current needs and transition to the new standards with easy configuration. 
    • Forecasting: Gain the ability to see total funds and forecast revenue summaries or predict item by item. Get forecasting for multiple data sources with recognized and forecasted values. Allow teams to make decisions for the next day, week or month. 
  • Subscription and Usage Billing: Improve accuracy and boost efficiency with a single source of business truth. Manage the most complex customer relationships in a centralized way with one solution. 
    • Usage Billing: Package and bundle products by configuring the pricing and contract terms from one screen. Automate billing operation and taxation and merge multiple invoices into one. 
    • One Customer Record: Gain visibility and provide everyone the information they need to maintain customer relationships. Make well-informed decisions by analyzing customer data at any stage. Get proactive notifications to protect renewals. 
    • One Billing: Connect to Salesforce CRM and any app in the ERP Suite with the Salesforce subscription billing app. Share one customer master record across all departments by connecting billing data across all apps. Ensure maximum compliance with an end-to-end audit trail. 
    • BI and Analytics: Get powerful real-time insights and analytics with a unified solution. Gain visibility across the entire organization and make a well-informed decision. 
  • Accounting and Financial Reporting: Support all multi-company, multi-currency, multi-book, account multi-chart and multi-language needs with a multi-everything engine. 
    • Financial Reporting: Get deeper insights and richer analyses with real-time financial data, day-to-day operational reporting, modeling and trackable KPIs. View crucial information from mobile devices. Analyze data to meet business needs. Create a financial statement template or choose from a dozen predefined ones. 
    • General Ledger: Streamline time-consuming tasks like automated reversing of entries and recurring journal entries. Handle the most diverse requirements. Allocate cost with predefined templates. Transfer costs between companies or business units with intercompany journals. 
    • Consolidation: Measure a firm’s financial performance with intercompany and multi-company software. Effectively manage transactions, reporting and reconciliations from multiple companies in multiple currencies. Use a reconciliation engine to merge all company entity data into one report. 
    • Receivables and Collections: Ensure accuracy by organizing cash. Coordinate with the sales team and every customer. Create accurate invoices and post instantly to accounts receivable. Calculate due dates and settlement accounts automatically. Manage daily tasks and projects in one place using role-based workspaces. 
    • Payment and Settlement: Automate accounts payable and configure routing pathways to manage processes and match organizational structure. Add requisitioning, purchase order and invoice matching capabilities. Monetize contract terms and discounts. 
    • Fixed Asset Management: Know what, how much and when it comes to asset costs. Track the entire lifecycle of assets from procurement to disposal. Access asset history and warranties by attaching documents. Leverage straight line, alternate straight line, double declining balance, units-of-production or sum of years depreciation. 
    • Cash Management: Ensure ready to reconcile and accurate cash balances in the necessary currency for the transaction. Keep control of the cash inflow and outflow across multiple bank accounts. Track or forecast cash using a dashboard. 
    • Communities: Minimize average outstanding sales per day and improve collaboration with a customized, self-service community. Give customers the freedom to manage billing and account management. Ensure quick and easy communication with built-in social tools. Get multi-company and multi-currency support and make cash and credit card payments. Keep track of activity, account balances and expenditures. 
  • Inventory Management: Check, simplify and optimize the entire order for the fulfillment process for goods and services. Gain an understanding of inventory, what can be sold and how to make all this profitable. 
    • Single System: Manage order and fulfillment of both goods and services for multiple channels with order and inventory management. 
    • Inventory: Get a flexible Salesforce inventory management system that provides support for both virtual and physical inventory. Check across different physical locations and companies with order and inventory management. Keep tabs on inventory levels in multiple currencies and the actual costs. Integrate cycle counting in daily inventory activities. 
    • Transferring: Transfer goods from warehouse to warehouse in bulk quantity without any shipment or receipt process.  
    • Lot Control: Create serial number and lot control while the item is defined. Gain visibility of actual margin and ensure that the profit keeps growing.  
    • Replenishment: Make sure the inventory is always in stock with the built-in reorder point. Customize the warehouse, conditions and ownership with order and inventory management. Use safety stock, reorder points, min/max and acquisition lead time to automate supply requisitions. View all fulfillment tasks and insight using role-based workspace in one screen. 
    • Item Management: Keep the inventory organized and the stock replenished with the order and inventory management solution. Handle inventory by customer, supplier or project and easily manage multiple conditions under a single SKU. 
Deltek Vision
Deltek Vision
Start Price
$1,000
Monthly
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
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Why We Picked Deltek Vision

Deltek Vision provides a robust suite of enterprise planning tools that most users find intuitive and accessible. Its features support critical management tasks like timesheets and reporting that help users create reports and streamline their processes. It can be customized easily to suit business needs. However, support falls short of expectations as turnaround time is high, and support isn’t included as a part of the package.

Pros & Cons

  • User Friendly: The system is easy-to-use and intuitive, as noted by approximately 73% of users who mention the system’s usability.
  • Customizations: About 100% of users noted that this system is customizable according to their business requirements.
  • Timesheets: Nearly 94% of the users who mentioned its timesheets feature were impressed by it and said that it was easy to use.
  • Reporting: About 83% of the users who mentioned its reporting feature said that it greatly enhanced their productivity.
  • Learning Curve: Almost 90% of users who mentioned learning how to use the product claimed that the software was not easy to learn and they needed more training and documentation to become power users.
  • User Interface: The user interface misses the mark and can be difficult to navigate, according to 78% of reviewers who mentioned the interface.

Key Features

  • Project and Financial Accounting: Helps professional services firms manage financial performance by integrating project control. Its general ledger tracks profitability and identifies issues for corrective action.  
    • Integrates seamlessly and ensures effortless cost-sharing.  
    • Includes a suite of financial tools like accounts receivable and payable, overhead allocation, multi-currency and multi-company support, revenue recognition and financial and project reporting.  
    •  Enables users to maintain a comprehensive audit trail and internal control.  
  • Project and Resource Management: Ensure that people with the right skills are assigned to the right projects.  
    • Lets users make better decisions and ensures projects are on time and within budget.  
    •  Allows users to automate scheduling, budgeting, resource allocation and forecasting.
    •  Provides expense reports and timesheet entries that enter actual costs into the project tracking sheet to produce a rolling forecast.  
  • Client Relationships Management: Provides the tools required to win new contracts and strengthen existing partnerships by automating the entire project life cycle.  
    •  Automates contact and client management, marketing campaigns, business development, opportunity and activity tracking.  
    •  Facilitates collaboration by integrating with MS Outlook.  
    •  Makes a central source of information available to everyone in the firm to leverage collective knowledge.  
  • Business Intelligence: Turns key business data into actionable information and provides a comprehensive understanding of operational and strategic indicators.  
    •  Identifies and analyzes trends in specific markets, geographies and disciplines to identify future risks and opportunities.  
    •  Create filters by pointing and clicking. Filtering features include side-by-side comparison, dashboard metrics and interactive drill down into single transactions.  
    •  Supports a drag-and-drop dashboard tool that can be configured easily.  
  • Project Reports: Supports interactive reports allowing users to analyze and access data. Manages aspects like opportunity tracking, resource utilization, project analysis and important financial metrics.  
    •  Reports tailored according to users’ needs can be generated.  
    •  Supports 200 standard reports.  
    •  Supports a flexible reporting framework that configures, previews, prints and shares reports.  
Rediker
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Key Features

  • Batch Entries: Declutter the record-keeping process for tuition, athletic expenses, class dues, graduation expenses and more with the batch entry accessory. 
  • Tuition and Payment Management: Produce tailored tuition and payment plans with this module. Users may employ suitable billing plans for all students and pre-set invoices for the whole school year. 
  • Family Data: Leverage the household tool to seek insights on pupils from the same family. 
  • Reporting: Draft forms, letters, statistical and financial reports, invoices, notices and other reports with the report writer. 
  • Future Estimations: Make accurate estimations for each school year's revenue. Users may also add future charge amounts on parents' statements to have an idea of fees and other expenses. 
  • Instant Receipts: Develop daily receipt reports, aging reports, student and family summary statements and merged invoices. 
  • Upload Data: Upload tuition payments from tuition management services such as FACTS Management Company, SMART Tuition Services, TMS Tuition Management Systems and more. 
Juris
Juris
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Why We Picked Juris

Is Juris a jurisprudent choice for managing your firm's finances? Based on user reviews from the past year, Juris receives mixed feedback for its performance as a financial management software. Users praise its user-friendly interface for timekeeping, highlighting its ease of use for entering time contemporaneously with tasks, which enhances efficiency. The software's robust reporting and analysis capabilities, along with its secure database that prevents unauthorized alterations, are also commended. However, Juris faces criticism for its outdated appearance and basic reporting functionalities, limiting users' ability to perform in-depth data analysis. The lack of custom report creation further restricts users' flexibility in tailoring reports to their specific needs. Some users experience glitches when the software is left open for extended periods and express dissatisfaction with the inability to run multiple timers simultaneously. While Juris excels in timekeeping and billing, its limitations in reporting and data analysis make it more suitable for smaller firms or those with less complex financial management requirements. Larger firms or those requiring advanced reporting and analytical capabilities might find alternative solutions more fitting.

Pros & Cons

  • User-Friendly Interface: Juris is praised for its intuitive design, making it easy for users to adapt to the system and perform tasks efficiently.
  • Real-Time Timekeeping: The software allows for immediate time entry, improving accuracy and efficiency in tracking billable hours.
  • Customizable Options: Juris provides flexibility with customizable features to tailor the software to specific firm needs.
  • Comprehensive Financial Tracking: Users appreciate the ability to manage timekeeping, billing, client fees, and costs all within a single platform.
  • Cost: Juris can be expensive, especially for smaller firms or those with tight budgets.
  • Customer Support: Some users report delays in communication or difficulty getting timely support from Juris.

Key Features

  • Time and Expense Tracking: Track billable hours and expenses with the timekeeping and billing portal. Automatically log all expenses for electronic billing, accounting and regular audit trails. 
    • Tailored Workflow: Redesign the workflow around employee time entries for improved firm efficiency. 
  • Billing Management: Process and send invoices tailored to the requirements of individual clients. Expedite billing and reduce accounting errors, write-offs, month-end disruptions and bad debt. 
    • Electronic Billing: Issue electronic invoices in accordance with industry regulations. 
    • Billing Reports: Run reports based on originating lawyer, billing lawyer, practice area, billing information, timekeeper and more. Get a comprehensive view of client matter inquiries. 
  • Accounting: Create and manage separate operating and trust accounts in accordance with industry guidelines. Automatically log all fees, cash expenses and non-cash expenses separately. The accounting tool provides support for billed, cash and accrual-based payment methods. 
  • Payables Management: Manage payables with the cash management tool. Identify problem suppliers from past transactions and assign maximum payment limits for defaulters. Generate on-demand checks and audit trails and simplify year end reconciliations. 
  • Conflict Checks: Check the integrated client and matter database for conflicts of interest in real time. Search the datasets by custom fields like matter, client names, addresses, note descriptions and more. 

COMPARE THE BEST Financial Management Software

Select up to 2 Products from the list below to compare

 
Product
Score
i
SelectHub’s Analyst Rating is based on data from our 400+ point analysis of Financial Management Software, user reviews, and our own crowd-sourced data from our free software selection platform. Scores are periodically updated via ongoing selection projects and user activity within our platform.
Start Price
Free Trial
Company Size
Deployment
Platform
Logo
Mint
$0
Freemium, Monthly
No
Small Medium Large
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Mac Windows Linux Chromebook Android
Mint
Bloomberg Terminal
$0
No
Small Medium Large
Cloud On-Premise
Mac Windows Linux Chromebook Android
Bloomberg Terminal
Tipalti
$129
Monthly
No
Small Medium Large
Cloud On-Premise
Mac Windows Linux Chromebook Android
Tipalti
Adaptive Insights
$5,000
Monthly
No
Small Medium Large
Cloud On-Premise
Mac Windows Linux Chromebook Android
Adaptive Insights
BlackLine
$3,000
Monthly
Yes
Small Medium Large
Cloud On-Premise
Mac Windows Linux Chromebook Android
BlackLine
Vena
$5,000
Annual
Yes
Small Medium Large
Cloud On-Premise
Mac Windows Linux Chromebook Android
Vena
Certinia
Still gathering data
No
Small Medium Large
Cloud On-Premise
Mac Windows Linux Chromebook Android
Certinia
Deltek Vision
$1,000
Monthly
Yes
Small Medium Large
Cloud On-Premise
Mac Windows Linux Chromebook Android
Deltek Vision
Rediker
Still gathering data
No
Small Medium Large
Cloud On-Premise
Mac Windows Linux Chromebook Android
Rediker
Juris
Undisclosed
Yes
Small Medium Large
Cloud On-Premise
Mac Windows Linux Chromebook Android
Juris

All Financial Management Software (37 found)

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Unit4 ERP

by UNIT4
Unit4 ERP
Unit4 ERP leverages a natural language digital assistant to expedite day-to-day business activities and provides a seamless user experience. Its financial management module offers real-time visibility and control over each stage of the record-to-report cycle. It consolidates enterprise-wide data within a unified system to streamline budget planning and analysis. Automate and streamline project life cycles, optimize resource utilization and execute projects with precision with the project management inclusion.
User Sentiment User satisfaction level icon: good
Cost Breakdown
$10 - $100
Company Size
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Traverse Software

by Open System Technologies
Traverse Software
Traverse Software by Open Systems Adaptable Solutions (OSAS) comes with accounting, distribution, manufacturing and reporting functionalities to streamline business operations. It adapts without adjusting the source code, studies complex data for smarter business choices, provides accurate insights to finance new business opportunities and extends robust reporting.Accounts receivable and payable, bank reconciliation, inventory, warehouse management, bill of materials (BOM), requirements planning, and interactive views are some of its top features.
Cost Breakdown
$10 - $100
Company Size
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CGI Advantage

by CGI Group
CGI Advantage
CGI Advantage ERP is a software suite designed for local and state governments. It simplifies processes and transforms user experiences, driving innovation and creating value for citizens. It transforms operations digitally and makes processes more affordable, manageable and lower risk. It helps implement enterprise-level critical processes, simplify business processes to create value for stakeholders. It is GASB and GAAP compliant and comes equipped with functions like CMIA and CAFR processing. These inclusions increase information access and automation. It also offers single-provider accountability for government and public sector institutions. It has a full suite of modules such as payroll, financial management, budgeting, grants management and regulatory management.
Cost Breakdown
$100 - $500
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Adfinity

by EASI
Adfinity
Adfinity is an up-and-coming software solution that ranks 430 among all Accounting Software according to our research analysts and 12 crowd-sourced reviews from 1 source. Starting from $390, Adfinity is priced at a bargain and is most applicable for smaller companies of 100 employees or less. Adfinity can be deployed in the cloud and on-premise and is accessible from a limited set of platforms including Windows devices. Similar alternatives to Adfinity include Invocus, Billage Software and OBS.
User Sentiment User satisfaction level icon: great
Cost Breakdown
$100 - $500
Company Size
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Taxprep

by Wolters Kluwer
Taxprep
Taxprep is a unique software product that ranks 25 among all Financial Management Software according to our research analysts and 426 crowd-sourced reviews from 2 sources. Starting from $1, Taxprep is priced economically, has offered a free trial in the past and is most fitting for any sized company. Taxprep can be deployed on-premise and is accessible from a limited number of platforms including Windows devices. Similar alternatives to Taxprep include Longview Tax, Advanced Financials and Adfinity.
User Sentiment User satisfaction level icon: excellent
Cost Breakdown
$10 or less
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Advanced Financials

by Advanced Computer Software Group
Advanced Financials
Advanced Financials is a promising software product that ranks 26 among all Financial Management Software according to our research analysts and 4 crowd-sourced reviews from 1 source. Starting from $0, Advanced Financials is priced at no cost when starting and is most fitting for businesses with hundreds or thousands of employees. Advanced Financials can be deployed in the cloud and on-premise and is accessible from a limited amount of platforms including Windows devices. Similar alternatives to Advanced Financials include Longview Tax, Taxprep and Oracle Financials Cloud.
User Sentiment User satisfaction level icon: excellent
Cost Breakdown
$10 or less
Company Size
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Deployment
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GroupOffice

by Intermesh
GroupOffice
GroupOffice is a versatile software solution designed to streamline business operations, particularly excelling in customer relationship management (CRM). It is ideally suited for small to medium-sized enterprises across various industries, including professional services, education, and healthcare, due to its comprehensive suite of tools that enhance productivity and collaboration. Users appreciate its robust features such as email integration, calendar management, and document sharing, which facilitate seamless communication and efficient task management. GroupOffice stands out with its customizable interface, allowing businesses to tailor the platform to their specific needs. Compared to similar products, users often highlight its user-friendly design and reliable performance. While specific pricing details are not readily available, potential users are encouraged to contact SelectHub for a personalized quote. This ensures that businesses can find a pricing plan that aligns with their unique requirements and budget constraints.
User Sentiment User satisfaction level icon: great
Cost Breakdown
$10 - $100
Company Size
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Axonaut

by Axonaut
Axonaut
Axonaut is a comprehensive software solution designed to streamline business operations, particularly excelling in customer relationship management (CRM). It is ideally suited for small to medium-sized enterprises across various industries, such as retail, consulting, and service-based businesses, due to its user-friendly interface and robust functionality. Axonaut offers unique benefits like seamless integration of CRM with invoicing, project management, and accounting features, providing a holistic approach to business management. Its powerful features include automated workflows, detailed analytics, and customizable dashboards, which enhance productivity and decision-making. Users appreciate its intuitive design and the ability to centralize customer data, which simplifies communication and improves client relationships. While pricing specifics are not readily available, potential users are encouraged to contact SelectHub for a tailored pricing quote. Axonaut stands out for its efficiency and adaptability, making it a valuable tool for businesses seeking to optimize their operations.
User Sentiment User satisfaction level icon: excellent
Cost Breakdown
$10 - $100
Company Size
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Deployment
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Planning Maestro

by CENTAGE
Planning Maestro
Implement Planning Maestro by Centage to simplify planning protocols and make swifter business choices during market shifts. Planning, budgeting, forecasting, reporting and analytics are its top modules. Assess numerous what-if situations and make more precise predictions.It pinpoints where, when and why actuals deviate from projections. Obtain in-depth reports and dashboards for more transparent results. It also allows numerous data source integrations for centralization.
Cost Breakdown
$500 - $1,000
Company Size
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Deployment
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Platform
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AFAS Software

by AFAS Software
AFAS Software
AFAS Software is a promising application that ranks 219 among all ERP Software according to our research analysts. Starting from $350, AFAS Software is priced fairly and is most suitable for all business sizes. AFAS Software can be deployed in the cloud and on-premise and is accessible from a few platforms including Windows devices. Similar alternatives to AFAS Software include Infor Cloudsuite Industrial (Syteline), SAP Business ByDesign and Dynamics 365.
Cost Breakdown
$100 - $500
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
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FlowCog

by FlowCog
FlowCog
FlowCog is a rising platform that ranks 525 among all Accounting Software according to our research analysts. Starting from $149, FlowCog is priced reasonably, offers a free trial on occasion and is most fitting for small-to-mid-sized companies with less than 1000 employees. FlowCog can be deployed in the cloud. Similar alternatives to FlowCog include ProMan ERP, Infor CloudSuite Financials and Epicor Accounting.
Cost Breakdown
$100 - $500
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
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Longview Tax

by BizNet Software, Inc.
Longview Tax
Longview Tax is a promising solution that ranks 32 among all Financial Management Software according to our research analysts. Starting from $1, Longview Tax is priced cost-effectively, offers a free trial on occasion and is most advisable for companies of all sizes. Longview Tax can be deployed online and on-premise and is accessible from a fewer number of platforms including Windows and Linux devices. Similar alternatives to Longview Tax include Advanced Financials, Taxprep and Adfinity.
Cost Breakdown
$10 or less
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
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Inform ERP

by Advantive
Inform ERP
Inform ERP is a software solution that helps with distribution, production and financial activities. It integrates these processes to automate and streamline operations across various aspects of a business. Its financial management tool coordinates with production workflows so that as transactions are made, they are automatically inputted to the general ledger. It also allows users to plan transportation logistics and look at factors such as volume and necessary stops when planning routes. This program further enables users to optimize the supply chain through visualization and control of a variety of processes. Users can benefit from personalized dashboards that leverage real-time data so that quicker and more relevant insights can be developed.
User Sentiment User satisfaction level icon: excellent
Cost Breakdown
$1,000 or more
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
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Unit4 FP&A

by Unit4
Unit4 FP&A
Unit4 FP&A is a sophisticated software solution designed to streamline financial planning and analysis tasks. It excels in budgeting, forecasting, and reporting, making it an ideal choice for mid-sized to large organizations seeking to enhance their financial management processes. The software is particularly beneficial for companies that require robust data integration and real-time analytics to make informed decisions. Users appreciate the platform's intuitive interface and advanced features, such as scenario planning, predictive analytics, and automated workflows. These capabilities help finance teams reduce manual effort and improve accuracy. Additionally, the software's cloud-based architecture ensures scalability and accessibility from anywhere. Pricing for Unit4 FP&A varies based on factors like the number of users and specific organizational needs. For precise pricing details, it's recommended to contact SelectHub for a tailored quote. Overall, Unit4 FP&A stands out for its comprehensive functionality and user-friendly design, making it a valuable tool for modern financial management.
User Sentiment User satisfaction level icon: great
Cost Breakdown
$1,000 or more
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
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Infor CloudSuite Financials

by Infor, Inc.
Infor CloudSuite Financials
Infor CloudSuite Financials is a cloud accounting ERP that works with Amazon Web Services (AWS) and Infor OS, enabling businesses to experience the latest advancements in enterprise functionality such as artificial intelligence (AI). AI enables users to keep up with updates, diminish the total cost ownership and capital investment and equalize analytics to make better business decisions.Global general ledger, close management, receivables and billing, cash management, reconciliation management and asset accounting are some of its idiosyncrasies.
User Sentiment User satisfaction level icon: good
Cost Breakdown
$100 - $500
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
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Epicor Accounting

by Epicor Software Corporation
Epicor Accounting
Epicor Accounting aids users in scaling their business as well as meeting all of their accounting needs and staying true to driving growth for its clients. It practices teamwork, passion, excellence, innovation, service and integrity values. Although it's not a standalone solution, it's available as a module within Kinetic, Prophet 21 and Eclipse.Core financial management (i.e., general ledger, accounts payable and accounts receivable), reporting, global business management and payment processing are some of its quintessential attributes.
User Sentiment User satisfaction level icon: good
Cost Breakdown
$100 - $500
Company Size
Small Medium Large
Deployment
Cloud On-Premise
Platform
Mac Windows Linux Chromebook Android
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idu-Concept

by IDU
idu-Concept
IDU Concept offers real-time company-wide financial data via the internet. It streamlines the budgeting process and simplifies mundane processes. It's also available for the cloud or on-premise deployments.Financial budgeting, forecasting, reporting, sales planning, fixed asset management and financial management are its top features. It automates processes to reduce budget cycles from months to weeks. It also effortlessly supervises machinery and other assets.
Cost Breakdown
$10 - $100
Company Size
Small Medium Large
Deployment
Cloud On-Premise
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Buyer's Guide

Financial Management Software Is All About Getting More Control Over Accounting

By Peter Lalush, Content Writer at SelectHub

Financial Management Software BG Intro

Businesses in every industry have a large number of financial transactions and data to stay on top of. Fortunately, financial management software (a subset of ERP software) makes some of those processes faster, easier to track and less prone to errors. With the right software and the proper implementation, businesses of all sizes can improve efficiency and transparency.

Looking for a way to streamline your accounting department, or better manage your company’s finances? Financial management software might be right for you. In this buyer’s guide, we’ll go over what financial management software is, how it could help your business and how to pick the best solution.

Executive Summary

  • Financial management software helps businesses automate and visualize everyday transactions.
  • Cloud and on-premise deployments each have their own benefits.
  • Be sure to consider factors like company size and number of employees when deciding on financial management software solutions.
What This Guide Covers:

What Is Financial Management Software?

Financial management software is a program designed to centralize and streamline a business’s daily financial tasks and operations. It allows users to automate tedious accounting tasks, visualize financial data to find out where errors occur, as well as integrate data with larger accounting and ERP suites to improve financial decision-making and contribute to long-term business goals.

Let’s talk about what the right financial management software can do for your business.

Primary Benefits

1. Efficiency

Putting the simplest steps of complex financial tasks in the hands of software can reduce time and effort, enabling your business to focus on larger tasks and the bigger picture.

Related Categories

Primary Benefits of Financial Management Software

2. Transparency

Gain real-time insight into how your daily financial transactions are going and easily locate any recurring problems or bottlenecks. Some software even enables AI-powered analytics.

3. Improved Organization

Complicated financial processes become much less of a hassle to keep tabs on when using software to put all your processes in a single place.

Basic Features & Functionality

Data Entry and Transactions

Automated data entry and calculation make everyday tasks and transactions easier. Users can customize automation to manage tasks according to pre-built criteria without the need for human supervision.
Budgeting

Eliminate excessive and unnecessary spending by putting together a budget plan and connecting it to other modules. You can also use the data processed through your software to create and submit budget proposals to stakeholders.
Forecasting

Automatically plot out your transaction data using graph and chart modules, and use them to plan future transactions and business decisions.
Reporting and Invoicing

Use the data processed and tracked through your software to generate, fill out, and deliver reports and invoices, ensuring your business complies with regulations in every region.
Data Tracking

Eliminate paperwork by using software to track transactions and other data, store it in a digital space and export it to other applications for easy access.

Software Comparison Strategy

Different financial management software meets different business needs, so it’s important to consider a few things when choosing the right platform for you.

Company Size

Some software platforms are built to handle large volumes of data and transactions, while others are better suited for smaller businesses that need more granular control. You should also take the number of users into account. The more users you have, the more you’ll have to coordinate onboarding and training.

Cloud vs. On-premise

Financial management software is trending towards a primarily cloud-based, software-as-a-service standard in which you pay a subscription fee and host all your content online. While there are several benefits to this, such as a lower cost of entry and leaving technical support in the vendor’s hands, on-premise solutions are still viable for businesses that want to own their software rather than subscribe.

Cost & Pricing Consideration

Factors like company size and deployment method are important in figuring out how much of your business should invest in ERP and financial management software. On-premise software has a higher cost of entry, but only requires a one-time payment, while cloud-based software requires an extended subscription. Software that can handle higher volumes of data may also cost more than a limited base plan.

The Most Popular Financial Management Software

Now that you know what financial management software can do, how do you decide which product is the best choice for your needs? Our analysts have curated some of the top financial management software solutions on the market. Check out our list below!

Oracle Fusion Cloud

Oracle Fusion Cloud is a cloud-based subscription platform with several ERP features. It can perform all of your necessary financial management functions, such as a general ledger, accounts payable and receivable, and revenue management. Fusion Cloud is designed to facilitate collaboration among users and employees, and its developers have decades of experience perfecting ERP technology.

Oracle Fusion Cloud

Track all your invoices from a single window and prioritize your most important tasks.

SAP S/4HANA

SAP’s database software contains a full set of financial management features, integrating them with other ERP functions to completely cover a business’s needs. Its automation allows users to manage recurring payments and bills, and automatic reporting and forecasting enable the user to anticipate future financial trends. The platform is offered as a subscription service, greatly reducing the barrier to entry.

SAP S/4HANA

SAP’s interface allows for simple, readable data visualization.

Microsoft Dynamics 365 ERP

Microsoft’s take on an ERP solution is a powerful suite of business applications that easily integrate, sharing data across departments and allowing users to access a unified view of finances no matter where they are. Dynamics 365 also enables employees to generate and personalize sales documents, helping businesses build relationships with customers and collaborators.

Microsoft Dynamics 365 ERP

Put all your data in a single location and gain valuable insights.

 

 

Questions To Ask

Financial Management Software Key Questions To Ask

Use these questions as a starting point for internal conversations:

  • How well do my employees take to new software?
  • What deployment method suits my business?
  • What ERP capabilities do I need in my software?
  • Will a subscription plan fit into my business’s budget?
  • Is this compatible with my existing software?

Use these questions as a starting point for conversations with vendors, about their service and the software:

  • What company sizes do you typically work with?
  • How can your software’s capabilities benefit companies in my industry?
  • How does your technical support team handle help requests?
  • How long does onboarding typically take for your product?
  • How does your software integrate with other software?

In Conclusion

Financial management software can improve both the quality and speed of your everyday financial transactions, as well as help you gain valuable insight into your financial performance.

Still feeling overwhelmed in your product search? Get started today with our comparison report to gain insight into top software leaders.

Were there any financial management solutions we may have missed? What works best about your current financial software? Let us know below, and be sure to check out some of our other content about ERP, accounting and more!

Product Comparisons

Additional Resources

  • Key Features of ERP Financial Management Systems

About The Contributors

The following expert team members are responsible for creating, reviewing, and fact checking the accuracy of this content.

Peter
By Peter Lalush
Technical Content Writer
With an interest in technology and a master's in Technical Communication, Peter covers accounting, distribution and EDI software for SelectHub. In his role as a Technical Content Writer, he aims to make complicated topics easy for an everyday audience to understand. Outside of work, he enjoys making music, seeing horror movies, and taking a good nap.
See Full Bio
Rohit Dutta
Technical Research By Rohit Dutta Mazumder
Senior Analyst
Hailing from the serene landscapes of Assam, India, Rohit is a seasoned professional with diverse expertise in several software categories. Armed with a Bachelor of Technology in Mechanical Engineering and an MBA in Operations Management, he brings a unique blend of technical acumen and strategic thinking to the table. His proficiency extends across dynamic fields such as Product Lifecycle Management, Hotel Management, Ecommerce, Accounting and Finance.
See Full Bio
Shashank
Technical Review By Shashank K K
Principal Analyst
After graduating with a Masters in Finance from Trinity College Dublin, K K Shashank's research and detail-oriented skills led them to SelectHub. He has diverse knowledge across various software categories like Accounting, Financial Planning and Analysis, Ecommerce, Risk Management, PLM, Insurance and more since 2020.
See Full Bio
Hunter
Edited By Hunter Lowe
Content Editor
Hunter Lowe is a Content Editor, Writer and Market Analyst at SelectHub. His team covers categories that range from ERP and business intelligence to transportation and supply chain management. Hunter is an avid reader and Dungeons and Dragons addict who studied English and Creative Writing through college. In his free time, you'll likely find him devising new dungeons for his players to explore, checking out the latest video games, writing his next horror story or running around with his daughter.
See Full Bio