Effective financial planning is vital for business success, with an unsettling 82% of global business failures attributed to cash flow issues. Budgeting software has, therefore, become an essential tool to mitigate this risk, streamlining financial planning and enabling data-driven decisions. Let us explore the top five budgeting software tools of 2023.
Corporate Planner: A robust solution for financial planning
Corporate Planner stands out for its ability to create precise planning models linked to ERP systems. It offers a collaborative platform for planning, forecasting, and reporting, which can be used by multiple users simultaneously. The software provides dynamic, integrated profit and loss, balance sheets, and cash flow statements as well as statutory consolidation. This feature significantly reduces budget cycle times, freeing up your team to focus on strategic decisions. Corporate Planner is designed to be run by the finance team, reducing dependency on IT, and ensuring a quick implementation process.
2. Cube: A comprehensive suite of tools for business insight
Cube offers a comprehensive suite of tools, including Data Management, reporting and analysis, and planning and modelling. These tools enable you to gain a 360-degree view of your entire business, from past to present to future. Cube's software automates repetitive tasks, providing quick answers and enabling instant decision-making. It also cuts planning time in half, preparing you for any scenario. In addition, with Cube, you can work with the tools you know, like Excel and Google Sheets, for seamless collaboration and insights.
3. Anaplan: Empowering data-driven decision making
Anaplan is an intuitive budgeting software platform that helps businesses confidently execute financial decisions. It enables detailed financial scenario planning, long-term forecasting, and data-driven decision-making. Anaplan allows you to plan for various scenarios, forecast for the long term, and make decisions based on data, not guesswork. It is a tool that transforms how you see, plan, and lead your business.
4. Vena: Leveraging Excel for powerful financial planning
Vena is a sophisticated budgeting application that seamlessly integrates Excel's familiar interface with a powerful growth engine, providing a comprehensive financial planning and budgeting solution. This tool empowers finance teams, simplifying complex processes, fostering collaboration, and facilitating data-driven decision-making. Vena revolutionises your financial and operational planning and analysis, offering an intelligent platform that provides the flexibility and control you require, while simultaneously scaling with your business.
5. Prophix: A comprehensive platform for financial performance management
Prophix is a comprehensive platform for financial performance management, facilitating collaboration on company budgets, efficient data consolidation, and easier planning for unforeseen circumstances, as well as comprehensive reporting on results. With Prophix, you gain the ability to manage your company's budgets, streamline your data, prepare for unexpected events, and generate detailed reports, all within a single, user-friendly platform.
The power of the right budgeting software
These five budgeting software tools offer a range of features that can help you streamline your financial planning, budgeting, and forecasting processes. Each tool has its unique strengths, so consider your specific needs and requirements when choosing the right tool for your business.
The right budgeting software can revolutionise your financial planning process, enabling you to make data-driven decisions that drive business performance.
Corporate Planner with Account-Ability
As the UK’s leading Corporate Planner distribution and support partner, Account-Ability can help you obtain optimum value from your investment, tailoring your build to meet the strategic goals of your business. Request a demo today and discover the power of Corporate Planner’s innovative tools and features and discover why it is one of the world’s fastest-growing business planning platforms, or click here to contact us.
Image Source: Canva