Budgeting Software

Get the best budgeting software for your business. Compare product reviews, pricing below. Read our buyer’s guide for more help.

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Budgyt is a cloud-based software solution that replaces clunky spreadsheets with an intuitive budgeting tool to create budgets faster, more accurately and more reliably. This solution works for clients in any industry who…
Price Range
$ · · · ·
Starting Price
$39/month
Platforms
Web, Windows
Deployment
Hosted (cloud-based)
Adaptive Insights is powering a new generation of business planning. Driving business agility in a fast-moving world, the Adaptive Insights Business Planning Cloud leads the way for people in companies to collaborate, gain…
Price Range
$ $ $ · ·
Platforms
Web
Deployment
Hosted (cloud-based)
Imagine your Income Statement integrating with your Balance Sheet and generating up-to-date Cash Flow Statements as often as you need them. Now add rolling dynamic forecasts with “What if” scenarios that let you see the…
Price Range
$ $ $ · ·
Platforms
Web, Windows
Deployment
Hosted or Local
Designed as a Microsoft Excel add-in that is fully integrated to your ERP’s general ledger accounts, balances, and transactions. It is very easy to learn and use and you can take advantage of all of Excel’s functionality. The…
Price Range
$ $ $ · ·
Platforms
Windows
Deployment
Locally Installed
Solver is a Corporate Performance Management (CPM) solution for mid-market enterprises. The developer is at the forefront of CPM technology with deep ERP integrations. Solver BI360 includes Web and Excel interfaces. BI360…
Price Range
$ $ $ $ ·
Platforms
Web, Windows
Deployment
Hosted or Local
Within one single product BOARD offers all the functionalities needed to build any Business Intelligence Software and Corporate Performance Management application solutions, without the use of any programming. Its…
Price Range
$ $ $ $ ·
Platforms
Web
Deployment
Hosted or Local
Take control of the budget process and bring strategic insight to business planning with Sage Budgeting and Planning, an enterprisewide, purpose-built budgeting and planning application. With Sage Budgeting and Planning, you…
Budget Maestro offers mid-market companies a more efficient and reliable way to budget and plan. The software automates many of the time consuming and error-prone tasks associated with using spreadsheets and generates more…
Price Range
$ $ $ · ·
Starting Price
$10,000/year
Platforms
Web, Windows
Deployment
Hosted or Local
When it comes to cloud planning and analytics, don’t compromise. IBM Planning Analytics goes beyond simply automating your planning, budgeting and forecasting processes. It provides self-service analytics to all of your…
Price Range
$ $ $ $ $
Deployment
Hosted or Local
PlanGuru is budgeting, forecasting and planning software designed to help small and medium sized businesses prepare their budgets and forecasts in a fraction of the time they would spend in their spreadsheet software…
Price Range
$ $ · · ·
Starting Price
$99/month
Platforms
Windows
Deployment
Hosted or Local
PROPHIX is a multi-user financial software application used by thousands of users worldwide for Budgeting, Planning, Financial Consolidation, Management Reporting and Analysis. PROPHIX offers the familiarity of a…
Price Range
$ $ $ · ·
Platforms
Windows, Web
Deployment
Hosted or Local
Budget Reporting allows companies to create budgets in multiple ways and allows multiple users to access the data at the same time. This program removes the need for multiple excel spreadsheets, complex macros, and the…
TIBCO Spotfire is an analytics platform that delivers visual, predictive, & streaming analytics. Data Discovery; Predictive Analytics; Big Data Analytics; Location Analytics; and Enterprise Scale Analytics. Industry-neutral…
Price Range
$ $ · · ·
Starting Price
$1,300/year/user
Platforms
iOS, Mac, Web, Windows
Deployment
Hosted or Local
CONTROL integrates all financial management functions, processes, and data. It provides one shared repository of business rules and data and one point of maintenance eliminating disconnects or different versions of the truth…
Price Range
$ $ $ $ ·
Platforms
Windows
Power BI is a suite of business analytics tools to analyze data and share insights. Power BI dashboards provide a 360-degree view for business users with their most important metrics in one place, updated in real time, and…
Platforms
Web, Windows
Deployment
Hosted (cloud-based)
How can the effect of future capital expenditure and disposals be predicted accurately? The answer is with RAM’s Forecast4000 module. This powerful management tool quickly and easily models and stores “what-if” scenarios for…
Platforms
Web, Windows
Deployment
Hosted (cloud-based)
PowerOLAP delivers advanced budgeting and forecasting, real-time analysis and reporting directly from databases, using the familiar Excel spreadsheet. Finally, one simple solution. PARIS Technologies, Inc. has integrated its…
Platforms
Windows, Web
Deployment
Hosted (cloud-based)
The control center of the CMiC system, CMiC Project Controls provides all of the essential tools a company needs to run their organization efficiently. Covering the entire financial lifecycle of the project, CMiC Project…
Platforms
Linux, Mac, Web, Windows
Deployment
Hosted (cloud-based)
Since a real estate developer’s needs differ from other types of construction companies, their software needs are different as well. Budgetrac is a cloud-based, comprehensive Real Estate Development software created…
Price Range
$ $ $ · ·
Starting Price
$1,600/year/user
Platforms
Web
Deployment
Hosted (cloud-based)
Abila MIP Fund Accounting is a configurable fund accounting solution that allows you to report and track information that is most important to you, your board and your supporters. To help you deliver on your mission, our…
Price Range
$ $ $ · ·
Platforms
Windows
Deployment
Hosted or Local

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Budgeting Software Buyer’s Guide

Budgeting software applications coordinate financial planning activities, as well as track and report on actual financial progress. Corporate budgeting software offers a critical IT resource for improving business decision-making with accurate, timely, and relevant financial information. This guide provides a practical how-to for selecting the right budgeting software to improve the predictability of corporate expenses and create efficiency in budget creation and tracking processes.

What Is Budgeting Software?

Business budgeting software–also referred to as budgeting, planning, and forecasting (BPF) software provides a coordinated set of features for the creation and management of detailed corporate financial plans, which estimate a company’s future revenues and expenses.

Key benefits enabled by corporate budgeting software include:

  • Better communication of performance objectives and standards via quantification of financial goal setting enabling
  • Improved cash management, ensuring liquidity required for important capital investments
  • Increased ability to assign free cash to interest earning positions
  • Reduced reliance on business loans and diminished interest expenses via improved cash flow management
  • More reliable resource allocation ensuring that certain cost centers/departments are not underfunded while others have un-utilized funding

Key Features of Budgeting Software

Functionality Definition
Departmentalized budgeting Departmentalized budgeting provides the ability to create hierarchically categorized budgets organized by units such as business department, location, or cost center
Budgeted versus actual comparisons The ability to compare budgeted figures versus actuals relies on the import of GL data and enables improvement monitoring of corporate performance against goals
Collaborative budgeting Collaborative budgeting features supports document management functionality that allows multiple individuals to contribute to budget creation
Budget approvals Budget approvals functionality allows for the authorization of budgetary plans by users at pre-defined user privilege levels
Versioning Versioning capabilities allow for non-destructive storage of multiple budget versions and tracking features to document changes to budget plans
Rolling budgets Rolling budgets allow for dynamic revision/extension of budgets to refresh budgets for a consistent period of time from the present moment
Predictive budgeting Trend data from historical records creates automated predictions for financial performance
Workforce planning Workforce planning capabilities offer specialized process support for anticipating growth of human resource requirements and their likely costs
What-if modeling “What-if” or “driver” based budgeting features allow for modeling of how individual budget variables cna impact overall budget outputs

Creating Reliable Forecasts With Budgeting Software

Companies facing critical questions about business development often look to budgeting software to get a better handle on expected revenues and expenses. Budgeting software modules use a combination of approaches to create financial forecasts. The key components of creating a budgeting are inputting accurate historical information and querying users for estimates of future financial conditions.

Budgeting software programs provide a framework for reinforcing budgeting best practices. Ensuring the inclusion of all relevant data and collecting information from distributed sources can be deceptively difficult tasks. Any budget relies on user-created estimates. Budgeting programs can help turn guesses into expectations by requiring estimates at a more granular level and integrating margin of error controls. Once data has been translated into predictions for financial outcomes, actual earnings and expenses can be compared against the predictions to monitor business progress.

Avoid Timely Manual Processes With Budgeting Software

Manually creating effective budgets can easily be hampered by a number of issues. It may be very difficult or time-intensive to resolve these issues.

Frequently, companies have limited confidence in hand-created budgets. This is often based on concerns that the historical information is incomplete or inaccurate. Budgeting software allows direct data imports from integrated applications such as the general ledger and other key accounting applications. Automatic data inputting provides the confidence that all relevant information has been considered and that it is free of the errors that often occur with manual re-keying. Planning for unexpected external factors is a difficult task. Budgeting software can provide helpful suggestions about making sure to correct for easily excluded external factors such as the effect of inflation.

One of the other main advantages of using budgeting software is seen in the cost savings. Creating budgets can be one of the most time intensive tasks for executives. Budgeting software will help you eliminate the reliance on cumbersome spreadsheets. For anything but the most basic budgeting needs, spreadsheets use dozens if not hundreds of formulas and macros. One weak link in the calculations can spoil weeks of careful preparation.

Increase Collaboration in the Budgeting Process for More Accurate Forecasts

Budgeting software also promotes collaboration. If you need to receive input from a variety of different employees, who each may have responsibility for different segments of your financial data, using a manual approach to creating budgets can easily become impractical. The reality is that you’ll likely be spending unnecessary time standardizing information into normalized formats. Furthermore, creating a budget is often a process that depends on working through multiple versions. Passing the information back and forth multiple times, rather than having a single updatable version of the truth, can easily become a drain on resources and an opportunity for costly delays.