Do you have to maintain a budget? If so, you know how much time, effort, and energy it takes. Even if your budget is at a high level and you are confident that your basic assumptions are sound and accurate, you still have to review it regularly and make sure it reflects changes in the market. Have your vendors raised their prices? Has any government regulation gone into effect or been changed that affects your company’s business? These are just a few of the many reasons why companies regularly review their budgets.
Forecasting has many of the same challenges as budgeting. Forecasting is a statement of what may happen in the future based on what has happened in the past and current trends but the future can be full of uncertainty.
Here comes the budgeting and forecasting software! We just enhanced the list of software, to save your time and to feel stress-free. Pick your solution with the below-mentioned list.
Before diving into the list of software, let’s look at what it is!
What is budgeting and forecasting software?
Similar to lots of budgeting programs, business financial forecasting software helps businesses to reduce the possibility of probable human error. It is because budgets are developed by documenting business data while documenting the human errors drastically affect the process of budgeting. Human errors and some misunderstanding errors can efficiently eliminate the facts of budget strategies. But, when you choose the suitable software for this process, you can prevent the possibility of errors, and you will come out with the best budget analysis.
Benefits of using budgeting and forecasting software
Planning your company’s budget can feel overwhelming, but there are lots of benefits to using budgeting and forecasting software. Automating your budget planning and forecasting processes will transform your entire organization. Here is the list of benefits of the software.
- It helps you get a complete view of your business
- Improves precision of budgets and financial forecasts
- Improves clarity in financial reports
- Forecasts forthcoming sales and expenses as per the past data
- Determine the best way to invest in it
- Make informed business decisions
Without detailed insights into current spending patterns, it is difficult to predict how new investments will impact the bottom line. That’s why software is designed for your budgeting and forecasting, to help businesses better utilize their resources and make predictions with confidence.
List of best budgeting and forecasting software for businesses
Myplan is business budgeting and financial forecasting software for small businesses, which helps you to plan your business expenses, coordinate your financial decisions and analyze the effects of your planning on key account balances. myplan gives you useful insight into data from the past and enables you to prepare realistic forecasts for the next whole year. It is one of the affordable budgeting software in the market.
Myplan software’s comprehensive reports not only give you a real-time snapshot of your business but also help you reach your target profit efficiently. It let you know when and where you overspend, so you can make adjustments to get back on budget. Every time they spend money, they see how much is left in their budget.
There are a lot of things that you can do with myplan Forecasting Software. You can get the past and future cash flow reports in real-time – daily, weekly, monthly, and yearly. Myplan is your new friend for creating business plans and keeping track of your company finances.
List of some myplan features
- Advanced Business Insights
- Accurate forecasting data
- Wide Range of Reports
- What-if Scenarios
- Real-time reports
- Multi-user access
- Automatic forecast from actuals
- Cash flow forecast
The pricing of myplan planning and forecasting software is just $9.99 per month, which is billed annually. It has 14 days free trial.
Scoro is a powerful business management and budgeting software for entrepreneurs who want to grow their businesses and save money. With SCORO you can forecast your cash flow, sales, and different budget scenarios. You can also add all of your clients and employees to give each member of the team their login.
It makes business management easy for you and your team. From the dashboard, you can look at the financial health of your business, forecast scenarios, and have a great overview of your sales pipeline, project statuses, and more.
You can plan and analyze past and future finances. Manage task workflows. And boost your team’s productivity by ensuring your teams are focused on the right priorities and maximizing billable time.
List of some Scoro features
- Financial KPI dashboard
- The automated revenue stream from invoices
- Financial reports and analysis
- Budget planning and forecasting
The pricing for Scoro software starts from a $26 user/month. It holds a 14-days free trial.
Centage is a cloud-native planning & analytics medium that provides year-round financial intelligence. With Planning Maestro, Centage offers budgeting and forecasting solutions that are flexible and easy to use, while providing sophisticated levels of financial insight.
Using sophisticated scripting language and Visualizer drag-and-drop interface, planners can quickly create budgets, perform “what if” analysis, collaborate with others on their planning team, and share the results with other departments and top executives.
Creating an accurate budget can be a time-consuming process, but Maestro makes it easy for your team to collaborate on budget creation. It also allows for infinite modeling of scenarios, due to an integrated business rules engine, which enables your business to stress-test its strategies and mitigate risk.
List of some Centage features
- Planning and budgeting
- Financial dashboard and reporting
- Complete analytics
The pricing of the centage can be known only when you request them.
Prophix’s software takes care of the little things so that you can focus on the big picture. Fast, flexible, and easy to use, Prophix empowers you with accurate, timely insights into your organization so that you can make proactive decisions that enable growth and drive profitability. Prophix helps you improve your forecasting processes, budgeting, and financial planning by enabling you to automate and streamline key processes.
It provides a sophisticated piece of Corporate Performance Management software with many unique capabilities not available from other vendors, including advanced data management and consolidation functionality; a powerful approach to budgeting, planning, and forecasting.
Prophix empowers the entire organization with intuitive tools for planning, consolidating financial statements, reviewing variances, predicting future performance, and collaborating across all levels of the organization.
List of some Prophix features
- Planning cash flow
- Budgeting, planning, and forecasting
- Personnel planning
- Statutory, financial, and management reporting
- Profitability modeling and optimization
The pricing of the Prophix forecasting software can be known only when you request them.
Adaptive Insight is a comprehensive tool offering cloud-based budgeting and forecasting software combined with reporting and analytics features. Adaptive Insights help you make smarter business decisions faster, managers from multiple departments can explore “what if” scenarios, gain insight into the financial impact of operational changes, review up-to-date dashboards of key performance indicators (KPIs), and predict future revenue.
List of some Adaptive Insights features
- Managing expense
- Handling capital
- Revenue administration
- Balance sheet & cash flow statements
The pricing of the Adaptive Insights budgeting and forecasting software can be known only when you request them.
The float was built for busy people like you, who want to get a grip on their cash flow without having to learn a new piece of software. In Float, you can see exactly how much money will be in your bank accounts in the future, at the click of a button. Once you’ve built your budget, see how upcoming invoices or bills affect your cash flow with this software.
Easy-to-use interface integrates with Quickbooks Online and Xero to give you real-time financial data and cash flow forecasts. Track spending against forecasts per project or department set budgets for planned expenses, and gain valuable insights into critical business performance metrics like your monthly burn rate.
A float is a user-friendly tool that allows you to bring better transparency to your business’s budgets and cash flow. With the automation that cuts down on tedious tasks and clear reporting for your team, Float gives you back your time to focus on growing your business.
List of some Float features
- Business budgeting
- Visual reporting
- Forecasting cash flow
The pricing for float is as follows,
- For small business – 1 user account – $35/month
- For Medium business – 3 user accounts – $59/month
- For Large business – 10 user accounts- $119/month