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Budgeting Software

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.

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The companies and representatives you sent our way were prompt and thorough… I definitely would recommend your company as a means to exploring options with qualified providers. — Bruce Conley
Your service saved me some very valuable time and hooked me up with some excellent resources. Thanks for providing this top-notch service. — Linda Vittori
Thanks! Having a service like this to help navigate the ocean of accounting software and help identify potential good-fits without having to delve through numerous bad-fits is of tremendous value! — Mark Carpenter

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.

Popular Budgeting Software Products

Looking for great budgeting software options? Below you can check out a list of the products most commonly considered by others searching for budgeting software. The list on this page is based on many years of real software matches. But everyone’s needs are different. Browse for fits with your specific requirements or let us help you identify your top options.

Which software is right for you? Get quick and accurate recommendations.

What if you could simply tell someone about your software needs and they’d find your best choices? Look no further. We’ll listen to your needs and find your top software matches. That’s it. There’s no pressure, no cost.

The companies and representatives you sent our way were prompt and thorough… I definitely would recommend your company as a means to exploring options with qualified providers. — Bruce Conley
Your service saved me some very valuable time and hooked me up with some excellent resources. Thanks for providing this top-notch service. — Linda Vittori
Thanks! Having a service like this to help navigate the ocean of accounting software and help identify potential good-fits without having to delve through numerous bad-fits is of tremendous value! — Mark Carpenter
  • Budgyt by Budgyt

    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 have multiple stores,...

  • Adaptive Insights by Adaptive Insights

    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 insights, and make smarter...

  • DynacBudget by Dynac

    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 effects of business decisions...

  • Vivid Reports by Briscoe Solutions

    Features Fast and user-friendly statement set up and modification. Vivid Reports works with the account structure and segments as defined in your accounting system's chart of accounts. Vivid Reports supports drag-and-drop from your chart of...

  • BI360 by Solver

    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 gives an organization...

  • Board by Board International

    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 revolutionary toolkit approach, as...

  • Sage Budgeting and Planning by Sage

    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 can make quicker, more...

  • Budget Maestro by Centage

    Automate and Streamline Your Business Budgeting, Planning, and Forecasting Process 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...

  • IBM Planning Analytics by IBM

    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 business users through an...

  • PlanGuru by PlanGuru LLC

    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. PlanGuru combines a flexible...

  • PROPHIX by PROPHIX Software

    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 spreadsheet-style interface with...

  • Budget Reporting by Complete Software

    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 confusion that comes with...

  • TIBCO Spotfire by TIBCO Spotfire

    TIBCO Spotfire is an analytics platform that delivers visual, predictive, & streaming analytics. Functionalities Data Discovery Predictive Analytics Big Data Analytics Location Analytics Enterprise Scale...

  • CONTROL by KCI Computing

    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. It gives you the...

  • Power BI by Microsoft

    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 available on all of their...

  • Forecast4000 by Real Asset Management - Fixed Asset Management Software

    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 future capital asset...

  • PowerOLAP by Paris Technologies

    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 second generation...

  • CMiC xProjects by Computer Methods International Corporation (CMIC)

    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 Controls arms executives...

  • Budgetrac by Budgetrac LLC

    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 specifically for real estate...

  • Abila MIP Fund Accounting by Abila

    Gain more time to focus on your cause 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...

  • IBM Cognos by IBM

    Cognos software enables organizations to become top-performing and analytics-driven entities. From business intelligence to financial performance and strategy management, Cognos software is designed to help everyone in your organization make the...

  • Project4000 by Real Asset Management - Fixed Asset Management Software

    Vital in the management of project cost monitoring, this module captures all aspects of expenditure related to the various stages of a project. Project4000 maps costs and allocations about work in progress prior to optionally creating a capitalized...

  • Financial Edge NXT by Blackbaud

    Financial Edge NXT is the first-of-its-kind cloud accounting solution that’s intuitive, reliable, and built exclusively for non-profits. It is advanced technology with powerful reporting tools to help your accounting team drive efficiency,...

  • TLM Cash & Liquidity Management by SmartStream Technologies

    With liquidity harder to find and margins being eroded, banks face unprecedented pressures to manage their cash effectively. As a result, banks need to rationalize Nostro accounts and reduce manual processes through the use of automated, real-time...

  • Sage Intacct by Intacct

    Intacct is a web-based, SaaS accounting and financial management software system designed for use by small and mid-size organizations. Key benefits of Intacct include: Automation of manual processes enabling faster delivery of accurate...

  • RealBRIDGE by RealINSIGHT Software

    RealBRIDGE is a powerful modeling tool for developing spreadsheet-based enterprise business models. Common uses include budgeting, forecasting, due diligence, business performance analysis, investor reporting, etc. If you are currently struggling...

  • CorPlanning by Rocket Software

    Budgeting and planning through spreadsheets can be time-consuming, error-prone and inflexible to change. Automate, simplify and control your enterprise-wide planning and budgeting process while tying it to your organization’s strategic plans....

  • AccuFund Accounting Suite by AccuFund

    Accounting software for non-profits, municipalities and other government agencies is the specialty of AccuFund. The AccuFund Accounting Suite is powerful, flexible and affordable financial reporting and accounting software designed specifically for...

  • TeamBudget Operating by Questica

    TeamBudget Operating - An industry developed solution TeamBudget Operating was designed in concert with several public sector municipalities to fulfill the specific operating budgeting needs of municipalities of all sizes. TeamBudget...

  • Tagetik 4 by Tagetik

    Tagetik 4 is an innovative software solution for performance management that unifies all of your Finance organization’s processes. From strategic and operational planning to disclosure reporting, Tagetik’s innovative open architecture has only one...

  • Qvinci Standard by Qvinci Software

    With one click, Qvinci™ lets business owners see all areas of their business visually. Qvinci™ literally shows you expenses, income, cost of goods, etc and how they relate to each other. From here, you can project future results based on...

  • NetSuite ERP by NetSuite

    NetSuite ERP is a cloud-based, developer-hosted, cloud ERP software platform offered on a software-as-a-service (SaaS) basis. NetSuite advertises its ERP solution as "the world's most deployed cloud ERP" solution. NetSuite ERP is used by over...

  • R&D Manage by R&D Logic

    R&D Manage is a budgeting, forecasting, and tracking and allocating both direct and indirect expenses for your life sciences organization. You are able to perform detailed reporting and analysis by project, account, and organization. R&D Manage...

  • OpenXpert for Governments by RDA Systems

    Xpert has the ability to hold a variety of information types, including your financial data, scans, pictures and the forms you use the most. And we’ve designed it for easy customization and fast reporting as well as quick printing including...

  • Serenic® Navigator by Serenic Software

    ## Mission-Empowering Software for NonProfit Organizations Empower your organization with fund accounting software that helps you focus resources on what’s most important. Built upon the stable and scalable foundation of Microsoft Dynamics NAV...

  • Satori Budgeting by Satori Group

    Satori Budgeting gives your finance department the tools to be more productive while simplifying the input process for budget contributors. With Satori Budgeting, you can factor in every element that contributes to your company's financial picture...

  • Bizwiz SME Cost Accounting System by Bizwiz Consulting Group

    Features: Excel 200 spreadsheet cost accounting and variance analysis system Projects cash flow statement, Income Statement and Balance Sheet Labor Efficiency Analysis Breakeven Analysis Optimal Performance calculation and...

  • Sales Planning & Management by OverDrive Solutions

    The Sales Planning & Management software will help you maximize your revenue opportunities by preventing lost sales and identifying new sales opportunities. This product will guide you through the sales plan creation process, and help you create a...

  • SBS Financials Suite by Software Business Systems (SBS)

    Software Business Systems (SBS) provides financial accounting software for companies who want complete visibility of and more control over financial operations. The SBS Financials Suite offers enterprise accounting functionality whether you need...

  • PerpetualBudget by Spicer-Baer Associates

    PerpetualBudget is a fully configurable distributed budgeting application. It runs as a Windows application and as a child process in Microsoft Excel. It is supported by a program managed database. The product is unique in it's ability to achieve...

  • pro forma by Spreadware

    Quickly and easily set-up, generate and analyze pro forma (projected) financial statements for up to ten years. With this program a user can forecast and evaluate a company's financial condition, estimate financing requirements, track cash-flow...

  • Business Performance Improvement by TeraTech Solutions

    From the advanced ERP systems to traditional supply chain management software there are plenty of offerings on the market that can summarize the data based on the transactions and report the results after that fact. We take you a step ahead...

  • Infor CloudSuite Business by Infor

    *Power your company with a cloud-based operations platform built for speed, agility, and growth.* Strategic decision-making is essential for any small or medium size organization, no matter if it’s B2B or B2C. Next-generation companies thrive...

  • the VIRTUAL winery by Virtual Business Systems, LLC

    the VIRTUAL winery was designed to forecast the financial position and resource requirements of a winery operation. The model creates a detailed financial forecast for five years (Year 1 - Monthly, Years 2 and 3 - quarterly, and Years 4 and 5 -...

  • SmartStart by Up Your Cash Flow Software

    Jump start your forecasting process with SmartStart, our cost-effective version of Up Your Cash Flow. SmartStart works exactly like our more advanced XT2, minus some of the more powerful and sophisticated forecasting features. Ideal for:...

  • Multiview by Multiview

    For organizations seeking a solution that easily conforms to their existing operations, Multiview offers a flexible, integrated suite of financial solutions. With Multiview , companies gain superior visibility over corporate data, creating a more...

  • A3 Modeling by A3 Solutions

    A3 Modeling is available both in the Cloud as well as On Premise. Advantages: Leverages industry state-of-the-art real-time consolidation cubes on the server for a very natural and intuitive financial model of your business. Every nuance of your...

  • FinPro by ACCEO Solutions

    FinPro is a powerful software program that imports and manages the accounting information located in QuickBooks to perform detailed financial forecasts and analyses and in-depth accounting case studies. You'll save countless hours of calculations...

  • BudgetGuide by Acteon Technologies

    BudgetGuide is a simple, yet powerful business planning application designed to streamline the budgeting and forecasting process. BudgetGuide features and benefits include: Intuitive Workflow - Enables collaborative environment, increasing...

  • SAP Business One by SAP

    SAP Business One provides comprehensive business management capabilities for small and medium sized companies. 50,000 plus companies utilize SAP Business One to provide integrated departmental support for finance, sales, supply chain,...

Your Budgeting Software Recommendations

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