Financial Management Systems

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

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Oracle ERP Cloud Screenshot
Oracle ERP Cloud
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Oracle Cloud Enterprise Resource Planning (ERP) is an integrated suite of business modules designed to suit your ERP needs. The cloud applications assist with your business functions of finance, project management, procurement, risk management, and other…
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Starting Price
$175/user/month
Client OS
Web
Deployment
Cloud Hosted
Sage Intacct Screenshot
Sage Intacct
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Sage Intacct is a web-based, SaaS accounting and financial management software system designed for use by small and mid-size organizations. Sage Intacct was built by finance professionals, for finance professionals, providing powerful automation of…
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Client OS
Web
Deployment
Cloud Hosted
FinancialForce Screenshot
FinancialForce
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FinancialForce is an accounting system delivered on-demand from Force.com, the world’s leading cloud computing platform pioneered by Salesforce. It is a unique and effective financial management system in its own right, but is also the perfect complement…
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Starting Price
$175/user/month
Client OS
Web
Deployment
Cloud Hosted
NetSuite ERP Screenshot
NetSuite ERP
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(16)
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 40,000…
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Starting Price
$99/user/month
Client OS
Web
Deployment
Cloud Hosted
Workday Screenshot
Workday
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(3)
Workday is enterprise software that provides financial management and human capital management functionality for companies across a variety of industries: Financial Services; Healthcare and Life Sciences; Higher Education; Manufacturing; Retail and…
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Web
Deployment
Cloud Hosted
Dynamics 365 Business Central Screenshot
Dynamics 365 Business Central
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(4)
Get a complete business and financial management solution for small and medium-sized businesses. Microsoft Dynamics 365 Business Central makes ordering, selling, invoicing, and reporting easier—starting on day one. [[toc]] With the October ’18 release…
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Starting Price
$40/user/month
Client OS
Web
Deployment
Cloud or On-Premises
SAP Business One Screenshot
SAP Business One
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(10)
SAP Business One provides comprehensive business management capabilities for small and medium sized companies. This system provides integrated departmental support for finance, sales, supply chain management, production, project management, and production…
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Starting Price
$410/user/year
Client OS
Windows
Deployment
Cloud or On-Premises
CYMA Financial Management System Screenshot
CYMA Financial Management System
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CYMA Financial Management System (FMS) represents the most sophisticated accounting software on the market today for growing mid-sized businesses. CYMA FMS provides accounting functionality powerful enough for the most demanding user and straightforward…
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Windows
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Cloud or On-Premises
FMS Screenshot
FMS
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MH&Co.’s ERP solution for government offers a broad range of software including Financials, Community Development, and Vehicle for Hire applications. The Financial Software audience ranges from state and local government, to insurance companies, to…
Client OS
Windows
Deployment
Cloud or On-Premises
Epicor Financial Management Screenshot
Delivering manufacturers the tools necessary to monitor financial data and improve decision making. Epicor financial management software is designed to automate and streamline your financial processes and create value through timely financial monitoring…
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Client OS
Mac, Windows
Deployment
Cloud or On-Premises
Acumatica Cloud ERP Screenshot
Acumatica Cloud ERP
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(16)
Acumatica Cloud ERP provides the best business management solution for transforming your company to thrive in the new digital economy. Through leading-edge technology, best-in-class business functionality, and customer-friendly business practices…
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Web, iOS, Android
Deployment
Cloud or On-Premises
UNIT4 Coda Financials Screenshot
UNIT4 Coda Financials
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(2)
UNIT4 Coda Financials is an award-winning suite of best-of-class financial management software designed to integrate with your industry- and company-specific applications. UNIT4 Coda Financials provides real-time financial visibility and control across…
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Web, Windows
Deployment
Cloud Hosted
Deltek Vantagepoint Screenshot
Deltek Vantagepoint
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Deltek Vantagepoint keeps professional service firms on top of problems that can derail your success and facilitates better decision-making by delivering mission critical information to your desktop at the click of a mouse. Visualization, Dashboards and…
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Client OS
Web, Windows
Deployment
Cloud or On-Premises
idu-Concept Screenshot
idu-Concept
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(1)
idu-Concept provides smart budgeting, forecasting and reporting tools with easy-to-use modules designed to meet all of your business needs. idu-Concept is available both on premise and as a cloud solution. idu-Concept lets you streamline and simplify your…
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Starting Price
$50/user/month
Client OS
Web
Deployment
Cloud or On-Premises
Xero Screenshot
Xero
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(3)
Xero is an online accounting solution for small businesses that is known for its ease of use. See your cashflow in real-time with online billing, banking and accounting. Just login anytime, anywhere. Free trial, pay nothing until you’re ready; No setup…
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Starting Price
$9/month
Client OS
Web
Deployment
Cloud Hosted
Kissflow Screenshot
Kissflow
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Kissflow is a digital workplace platform that helps track all work at your business, including HR, procurement, finance and operations, and more. Capabilities of these cloud products include process management, case management, collaboration on projects…
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Starting Price
$9/user/month
Client OS
Web, iOS, Android
Deployment
Cloud Hosted
Kepion Screenshot
Kepion
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Kepion is a web-based corporate performance management (CPM) software for budgeting, planning and forecasting. Kepion offers business planning on a single platform for finance, sales, and operations. Kepion can be found as a variety of platforms: Kepion…
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Client OS
Web, Windows
Deployment
Cloud Hosted
Odoo Screenshot
Odoo
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Odoo is the most installed business software in the world. Odoo is used by 2.000.000 users worldwide ranging from very small companies (1 user) to very large ones (300 000 users). Amongst the biggest references you can find: Odoo is the only software in…
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Client OS
Web
Deployment
Cloud or On-Premises
QuickBooks Online Screenshot
QuickBooks Online
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(30)
QuickBooks Online is the most flexible accounting software solutions to link multiple users and locations to their business finances-anytime, anywhere. It has the accounting functionality of QuickBooks desktop software, but instead of installing it on a…
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Starting Price
$15/month
Client OS
Web
Deployment
Cloud Hosted
AutoRek Screenshot
AutoRek
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(3)
AutoRek is a powerful automated reconciliations solution, coming complete with everything your company needs to streamline your data processes. The solution helps firms simplify the collection, validation and reconciliation of data, as well as providing…
Client OS
Web
Deployment
Cloud Hosted

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Financial Management Systems Buyer’s Guide

What are Financial Management Systems?

Financial management systems help businesses track income and expenses and plan for growth. Commonly referred to as a subset of accounting software, these management systems go beyond simple bookkeeping to help businesses make better spending decisions, create accurate financial reports, and manage assets through advanced automation. These systems also have some human resources management, inventory control, and billing and invoicing functionality.

Financial management solutions are often an important part of enterprise resource planning (ERP) systems. Larger businesses benefit from ERP integrations which streamline business functions all from one shared system. Financial management software helps you create a system to find the data you need without switching between different workflows.

Key Features of Financial Management Systems

Feature Description
Financial Accounting Revenue, profitability, and expense tracking. Main modules include general ledger, accounts payable (AP), and accounts receivable (AR).
Billing and Invoicing Create and send invoices and bills for products and services rendered. Track outstanding and paid invoices.
Financial Reporting Create financial statements for internal or external use.
Human Resources Manage payroll, employee benefits, certification and licensing tracking, and applicant tracking.
Fixed Asset Management Track the value of depreciating fixed assets in real-time.
Inventory Control Track on-hand inventory assets and the costs associated with them.
Cash Management Forecast internal cash flows at your company, even when dealing with multiple currencies.
FlexiFinancials Software Statement
Create custom income statements in FlexiFinancials to show financial data including revenue, net earnings, and expenses.

Advanced Features

Feature Description
Budgeting and Forecasting Create financial plans using historical data and estimates of future market conditions.
Bank Reconciliation Import real-time records on bank accounts and check if bank and accounting records match.
Business Intelligence (BI) Tools Compile advanced reports on financials, operations, business performance, personnel, and more. Report on historical data or perform predictive analysis.
Fund Accounting Manage income and distribution of grants, state aid, scholarships, and work-study programs. Primarily used by government agencies, nonprofits, and educational institutions requiring strict compliance standards.
Vivid Reports Forecast
Generate an income statement forecast in Vivid Reports.

Benefits of Financial Management Systems

Financial software helps businesses manage important information related to all financial processes, which leads to a lot of benefits:

Automate Processes

The system records real-time income and sales data. Outstanding balances are also tracked within the system. Automatic payment reminders can be sent for upcoming and overdue payments. The software also assists with creating invoices to be sent out after services are rendered.

Financial management systems also keep track of the money you owe to your vendors. Want to streamline payments? The system can automatically send recurring payments as needed to avoid accruing late fees.

Microsoft Dynamics 365 General Ledger
The general ledger in Microsoft Dynamics 365 Business Central provides a way to review your accounts in real-time.

Streamline Reporting and Analytics

Reporting and analytics functionality in financial software gives you a deeper look into your company’s overall financial operations. A comprehensive system allows you to break down sales by date range, best selling products and services, top performing sales reps, and more. This gives your finance teams the ability to clearly analyze sales data and make better business decisions based on historical trends.

Financial management systems also help businesses with reporting requirements laid out by the generally accepted accounting principles (GAAP). Compliant financial statements you can run include income statements, cash flow statements, and balance sheets.

Dashboards in FinancialForce
Dashboards in FinancialForce provide information on open orders, shipments, quotes, and more.

EPM, CRM, and ERP Software

Financial management functionality is included in most ERP systems, as these solutions manage a variety of business processes within an organization. These systems link back-office operations with customer-facing functionality to keep businesses fully connected. Examples of ERP software with strong financial systems include Oracle ERP, Sage Intacct, and SAP Business One.

Along with ERP integration, financial management systems work best with enterprise performance management software and customer relationship management software. Better known as EPM or corporate performance management (CPM), these solutions monitor key performance indicators (KPI) related to your business, including financials. CRM solutions allow your company to build better customer relationships and accurately prepare invoices for any financial transactions.

Financial Systems by Industry

Industry-specific ERP options are available for managing financials unique to your industry. For example, international eCommerce shops will need the ability to facilitate transactions in multiple currencies and will need a single platform capable of making those exchanges. Some other examples include:

Industry Financial Functionality Description
Construction and Service-Based Job Costing Assign costs to labor, equipment, and materials needed for a job.
Wholesale and Distribution Order Management Record sales, track order status, create invoices, and manage backorders.
Process Manufacturers Recipe Management Manage the price and type of ingredients in a recipe, as well as batch scaling and substitute info.
Spectrum Software Financial Report
Detailed reports in Spectrum can show cost activity for a specific job.

Financial Management System Pricing

Financial management software is priced based on a few specific variables, which include:

  • Number of users
  • Size of organization
  • Functionality needed
  • Number of languages and/or currencies needed

Most SaaS plans are available starting at $9 per month and reaching up to $180 per user per month. There are a few free, open source financial management systems available, though these solutions generally have limited functionality as they are geared more towards personal finance or startups and small businesses.

Intuit QuickBooks Online
Build a comprehensive chart of accounts with QuickBooks Online.