16 Best Budget Management Software Reviewed In 2024
Best Budget Management Software Shortlist
Here’s my pick of the 10 best software from the 17 tools reviewed.
Our one-on-one guidance will help you find the perfect fit.
Budget management software is a valuable asset for any company. With the right software, teams can improve financial tracking and enhance budget planning. However, finding the right budget management software can be challenging, especially with so many available options.
Using my experience with finance and accounting software, I tested and compared several of the top budget management software programs available. Then, I compiled my results into detailed reviews to help you find the best software for your needs.
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Best Budget Management Software Summary
This comparison chart summarizes pricing details for my top budget management software selections, helping you find the best one for your budget and business needs.
| Tools | Price | |
|---|---|---|
| Jedox | Pricing upon request | Website |
| Prophix | Pricing upon request | Website |
| Planful | Pricing upon request | Website |
| insightsoftware | Pricing upon request | Website |
| Centage | Pricing upon request | Website |
| Solver | Pricing upon request | Website |
| Kepion | Pricing upon request | Website |
| Mosaic Planning | Pricing upon request | Website |
| BudgetPak | Pricing upon request | Website |
| Syntellis | Pricing upon request | Website |
Compare Software Specs Side by Side
Use our comparison chart to review and evaluate software specs side-by-side.
Compare SoftwareHow To Choose Budget Management Software
It’s easy to get bogged down in long feature lists and complex pricing structures. Here's a checklist of factors to remember to help you stay focused as you work through your unique budgeting software selection process.
| Factor | What to Consider |
| Scalability | Will the software grow with your business? |
| Integrations | Does it connect with your existing tools? |
| Customizability | Can it be tailored to fit your team's needs? |
| Ease of Use | Is the software user-friendly for your team? |
| Budget | Does the cost align with your financial plan? |
| Security Safeguards | Are your data protection needs met? |
| Reporting Features | Does it offer the reporting tools you need? |
| Customer Support | How responsive and helpful is their support team? |
Best Budget Management Software Reviews
Below are my detailed summaries of my shortlist’s best budget management software. My reviews offer a detailed look at each tool’s key features, pros and cons, integrations, and ideal use cases to help you find the best one.
Jedox offers advanced modeling capabilities, allowing users to create complex financial models for long-term strategic planning and day-to-day operations. It easily handles sophisticated models, forecasting, and scenario planning for companies.
Why I picked Jedox: Jedox offers a financial modeling system that allows you to build customized models tailored to your needs. With its built-in planning and forecasting functions, you can simplify the entire budgeting process. The tool's multidimensional database supports detailed data analysis, while its cloud capabilities enable real-time collaboration, making financial data management faster and more efficient for your team.
Standout features & integrations:
Features include financial modeling, a unified platform, and flexible planning capabilities. These features enable your team to create and analyze complex financial scenarios. Jedox supports a wide range of financial processes for strategic optimization.
Integrations include SAP, Oracle, Microsoft Dynamics 365, Salesforce, NetSuite, QuickBooks, Xero, Workday, Google Sheets, and Sage Intacct.
Pros and cons
Pros:
- Strategic financial optimization
- Flexible planning tools
- Supports complex scenarios
Cons:
- Less intuitive reporting dashboard
- Limited audit trail features
Prophix is known for its automation features, allowing businesses to streamline their budgeting and reporting processes. It automates routine financial tasks like data entry, report generation, and variance analysis, reducing manual errors and promoting efficiency.
Why I picked Prophix: Prophix’ workflow automation ensures that everyone stays on the same page, making approvals and reviews faster and more efficient. You can create multi-scenario budgets and customize dashboards for a clear view of financial data. With Prophix’s built-in variance analysis, you’ll see where your budget stands compared to actual performance.
Standout features & integrations:
Features include workflow automation, customizable dashboards, and scenario planning capabilities. These features help your team save time and reduce errors. Prophix provides a clear view of financial data for better decision-making.
Integrations include Microsoft Dynamics 365, SAP, Oracle, QuickBooks, NetSuite, Salesforce, Sage Intacct, Workday, Xero, and Google Sheets.
Pros and cons
Pros:
- Automated financial reporting
- Supports top-down planning
- Multi-level approvals
Cons:
- Complex budget adjustments
- Requires a learning curve
Planful is a financial planning and analysis platform that simplifies budgeting, forecasting, and reporting for mid-sized enterprises. It provides real-time insights, automates routine financial processes, and fosters department collaboration.
Why I picked Planful: Planful’s intuitive interface offers planning and scenario analysis for budgeting and forecasting. Its reporting tools let you create customized reports for insights into financial data. The platform also supports multi-year forecasting to help you plan as your business grows and collaborate tools for teams to communicate more effectively.
Standout features & integrations:
Features include dynamic planning, scenario analysis, and flexible reporting options. These features help your team efficiently manage budgeting and forecasting. The intuitive interface makes financial planning accessible to everyone.
Integrations include NetSuite, QuickBooks, Salesforce, SAP, Oracle, Microsoft Dynamics 365, Workday, Xero, Sage Intacct, and Google Sheets.
Pros and cons
Pros:
- Built-in variance analysis
- Real-time financial visibility
- Supports multi-year forecasting
Cons:
- No cash flow forecasting
- Slow with large data sets
insightsoftware features data visualization capabilities and integrates with ERP systems, suitable for organizations seeking actionable financial insights. It offers real-time dashboards, charts, and reports that simplify complex data.
Why I picked Insightsoftware: insightsoftware provides powerful data visualization tools that allow you to create detailed financial reports and dashboards. It offers real-time reporting, giving your team up-to-date insights. Its user-friendly interface and Excel-based functionality make complex financial data easy to interpret, improving accuracy and speeding up decision-making.
Standout features & integrations:
Features include data visualization, customizable dashboards, and real-time reporting tools. These features enable your team to transform financial data into clear visuals. insightsoftware helps teams get real-time insights for quick decision-making.
Integrations include Microsoft Dynamics 365, SAP, Oracle, NetSuite, QuickBooks, Salesforce, Sage Intacct, Xero, Workday, and Google Sheets.
Pros and cons
Pros:
- Support multi-year planning
- Automated variance tracking
- Real-time financial insights
Cons:
- Restrictive user permissions
- Limited automation features
Centage is an intuitive platform that automates complex budgeting tasks, enabling real-time insights into financial performance and cash flow. Its user-friendly interface streamlines the budgeting process, making it an ideal tool for small businesses.
Why I picked Centage: Centage's user-friendly interface makes it easy to create budgets and forecasts. It automates reporting and data entry tasks, and the built-in forecasting tools help you achieve your financial goals. Centage also offers flexible, dynamic reports that can be easily adjusted.
Standout features & integrations:
Features include automated forecasting, customizable dashboards, and intuitive design. These features allow your team to visualize financial data effectively, and automated forecasting helps ensure accurate financial planning.
Integrations include QuickBooks, NetSuite, Xero, Microsoft Dynamics 365, Salesforce, SAP, Oracle, and ADP.
Pros and cons
Pros:
- Detailed variance analysis tools
- Multi-year planning capability
- Automated and flexible report customization
Cons:
- Limited reporting options
- Not suitable for large enterprises
Solver is a cloud-based budgeting and reporting platform that provides real-time financial insights, planning, forecasting, and data analysis tools. It integrates with various ERP systems, allowing users to create detailed reports and dashboards.
Why I picked Solver: Solver’s cloud-based nature ensures instant access to financial reports and easier collaboration across departments. It offers a flexible way to consolidate data from various sources and simplifies budget planning through dynamic templates. Solver provides detailed insights with automated reporting functioning, making it well-suited for managing complex financial data in the cloud.
Standout features & integrations:
Features include cloud-based reporting, flexible report creation, and data visualization tools. These give your team real-time access to financial data, and Solver's intuitive dashboards make complex data easy to understand.
Integrations include Microsoft Dynamics 365, SAP, Oracle, QuickBooks, NetSuite, Salesforce, Sage Intacct, Xero, Workday, and Google Sheets.
Pros and cons
Pros:
- Automated budget forecasts
- Pre-built financial templates
- Real-time data access
Cons:
- Time-consuming approvals process
- Limited custom budget views
Kepion offers integrated planning capabilities for businesses needing to integrate financial, operational, and strategic plans. It’s a unified solution that connects budgeting, forecasting, and reports, improves collaboration, and ensures alignment between financial goals and operational performance.
Why I picked Kepion: Kepion allows you to combine financial and operational data, enabling your team to plan with greater accuracy. It provides scenario planning and rolling forecasts to help you prepare for various situations and long-term financial planning. You can also track and adjust budget inputs in real time, making it ideal for managing complex, interconnected business plans.
Standout features & integrations:
Features include integrated planning, scenario modeling, and customizable dashboards. These features help your team unify financial processes and prepare for different situations. Kepion’s interface promotes quick adoption and a comprehensive view of metrics.
Integrations include Microsoft Dynamics 365, SAP, Oracle, QuickBooks, NetSuite, Salesforce, Sage Intacct, Xero, Workday, and Google Sheets.
Pros and cons
Pros:
- In-depth cash flow analysis
- Detailed budget breakdowns
- Built-in audit trails
Cons:
- Limited dashboard customization
- Time-consuming budget consolidation
Mosaic Planning offers a strategic finance platform for SaaS companies. It provides budgeting, forecasting, and financial planning tools and integrates with SaaS-specific metrics like ARR and churn, offering insights to help companies improve financial performance.
Why I picked Mosaic Planning: Mosaic Planning’s tools allow you to track key SaaS metrics like ARR and churn, ensuring you get detailed, real-time insights specific to your business model. It manages complex financial models and forecasts and is focused on SaaS KPIs to help your team stay aligned with your financial goals while optimizing performance. Mosaic Planning also makes it easy to run different scenarios, helping you plan for the future in a rapidly changing market.
Standout features & integrations:
Features include revenue modeling, KPI tracking, and real-time analytics. These allow your team to make data-driven financial decisions, and dashboards provide a clear view of your financial performance metrics.
Integrations include NetSuite, QuickBooks, Salesforce, Xero, Stripe, Slack, Google Sheets, Microsoft Excel, Oracle, and Workday.
Pros and cons
Pros:
- Scenario planning
- Real-time budget adjustments
- SaaS-specific metrics tracking
Cons:
- Limited data exportation options
- Limited non-SaaS use cases
BudgetPak simplifies budgeting and forecasting for educational institutions. It allows finance teams to create accurate and accountable budgets. It is easy to use and is highly accessible, making it ideal for institutions needing a flexible budget solution.
Why I picked BudgetPak: It offers planning and detailed fund tracking, allowing your team to create multiple budget scenarios and plan for various financial situations. BudgetPak's specialized reporting tools let you quickly analyze and present financial data, while its intuitive interface simplifies the budgeting process for users in the education sector.
Standout features & integrations:
Features include collaborative budgeting that encourages input from every department. It offers rolling forecasts to help your team stay agile. You can also create detailed variance reports to monitor performance.
Integrations include Sage Intacct, Blackbaud, Microsoft Dynamics, Ellucian, and Workday.
Pros and cons
Pros:
- Rolling forecast for agility
- Excel-free budget creation
- Intuitive for non-financial users
Cons:
- No real-time data syncing
- No predictive analytics
Syntellis offers specialized financial planning and analysis tools for healthcare providers. It integrates with existing healthcare systems to provide real-time insights, automate processes, ensure compliance with regulatory requirements, and handle healthcare finance.
Why I picked Syntellis: Syntellis simplifies healthcare-specific budgeting with features like rolling forecasts and long-range financial planning. It offers detailed encounter data for budget modeling and integrates financial results with healthcare operations. The software also supports health plan budgeting for managing the organization’s provider and payer.
Standout features & integrations:
Features include detailed budgeting, regulatory compliance support, and real-time analytics tools. These features help your team make informed decisions and ensure compliance. Syntellis focuses on meeting the unique demands of healthcare providers.
Integrations include Epic, Cerner, Meditech, Allscripts, McKesson, Oracle, SAP, Microsoft Dynamics 365, Workday, and QuickBooks.
Pros and cons
Pros:
- Integrated clinic-financial data
- Real-time operational insights
- Long-range financial planning
Cons:
- Limited audit trail features
- Complex multi-entity budgeting
Other Budget Management Software
Here are some additional budget management software options that didn’t make it onto my shortlist but are still worth checking out:
- Xero
Best for freelancers
- Vena
Best for Excel integration
- Anaplan
Best for connected planning
- Workday Adaptive Planning
Best for dynamic forecasting
- Sage Intacct
Best for scalable cloud solutions
- IBM Planning Analytics
Best for AI-driven insights
- NetSuite
Best for large enterprise needs
Budget Management Software Selection Criteria
When selecting the best budget management software for this list, I considered common buyer needs and pain points like ease of use and scalability. I also used the following framework to keep my evaluation structured and fair.
Core Functionality (25% of total score)
To be considered for inclusion in this list, each solution had to fulfill these everyday use cases:
- Budget creation and management
- Financial forecasting
- Expense tracking
- Reporting and analytics
- Data integration
Additional Standout Features (25% of total score)
To help further narrow down the competition, I also looked for unique features, such as:
- Scenario and money management planning
- Real-time project management collaboration
- Customizable user interface dashboards
- AI-driven smart insights
- Multi-currency support
Usability (10% of total score)
To get a sense of the usability of each system, I considered the following:
- Intuitive interface
- Easy navigation
- Minimal learning curve
- User-friendly design
- Accessibility across devices
Onboarding (10% of total score)
To evaluate the onboarding experience for each platform, I considered the following:
- Availability of training videos
- Interactive product tours
- Access to templates
- Chatbot assistance
- Webinars and tutorials
Customer Support (10% of total score)
To assess each software provider’s customer support services, I considered the following:
- 24/7 support availability
- Multiple support channels such as via mobile app
- Community forums
- Response time for queries
- Quality of documentation
Value For Money (10% of total score)
To evaluate the value for money of each platform, I considered the following:
- Competitive pricing
- Features offered at each tier
- Transparency in pricing
- Discounts for long-term use
- Return on investment
Customer Reviews (10% of total score)
To get a sense of overall customer satisfaction, I considered the following when reading customer reviews:
- Satisfaction with features
- Feedback on reliability
- Comments on ease of use
- Opinions on customer support
- Overall value perception
Trends In Budget Management Software
In my research, I sourced countless product updates, press releases, and release logs from different budget management software vendors. Here are some of the emerging trends I’m keeping an eye on.
- AI-driven analytics: More tools integrate AI to enhance data analysis, providing insights that help businesses make informed decisions. This trend allows users to identify patterns and predict future financial outcomes more effectively.
- Collaborative budgeting: Vendors focus on features that enable teams to work together in real time. This trend makes budget management more dynamic, allowing immediate feedback and adjustments.
- Customizable reporting: Users now expect to tailor reports to fit their unique business needs. This trend is growing as companies demand more control over how they view and analyze their financial data, with many tools offering drag-and-drop report builders.
- Scenario modeling: More vendors are providing features to simulate different financial scenarios. This trend is valuable as it helps businesses prepare for various outcomes by testing assumptions and evaluating potential risks and opportunities.
- Sustainability tracking: There's an increasing demand for features that track environmental impact and sustainability metrics within budget management tools.
This trend reflects a growing awareness and responsibility towards sustainable business practices.
What Is Budget Management Software?
Budget management software is a tool for planning, tracking, and managing financial resources within a company. Financial professionals, accountants, and business managers use it to improve financial oversight and control.
Budget creation, forecasting, and reporting capabilities help with accurate financial planning, collaboration, and decision-making. These tools provide businesses with better financial visibility and control.
Features Of Budget Management Software
When selecting budget management software, look for the following key features.
- Budget creation: Allows users to set up detailed budgets to control financial resources efficiently.
- Financial forecasting: Helps predict future financial outcomes based on historical data and trends.
- Expense tracking: Monitors expenditures to ensure they align with the budget and financial goals.
- Reporting and analytics: Provide insights through visual reports and data analysis to aid decision-making.
- Scenario modeling: Simulates different financial scenarios to prepare for potential risks and opportunities.
- Collaboration tools: Enables team members to work on budgets in real time, enhancing communication.
- Customizable dashboards: Lets users tailor their financial data view to meet specific business needs.
- AI-driven analytics: Uses artificial intelligence to identify patterns and generate actionable insights.
- Sustainability tracking: Measures and tracks environmental impact and sustainability metrics within budgets.
- Regulatory compliance support: Ensures that financial processes adhere to industry standards and regulations.
Benefits Of Budget Management Software
Implementing budget management software provides several benefits for your team and your business. Here are a few you can look forward to.
- Improved accuracy: Financial forecasting and expense tracking reduce errors in financial planning.
- Better decision-making: Reporting and analytics provide insights that help guide strategic choices.
- Enhanced collaboration: Real-time collaboration tools let team members work effectively on budgets.
- Flexibility in planning: Scenario modeling allows you to adapt to different financial situations as they arise.
- Increased efficiency: Automated processes save time and reduce the manual workload for your team.
- Sustainability focus: Tracking sustainability metrics helps align financial goals with environmental responsibility.
- Regulatory compliance: Compliance support ensures your financial processes meet industry standards.
Costs & Pricing Of Budget Management Software
Selecting budget management software requires understanding the various pricing models and plans available. Costs vary based on features, team size, add-ons, and more. The table below summarizes common plans, their average prices, and typical features included in budget management software solutions:
Plan Comparison Table for Budget Management Software
| Plan Type | Average Price | Common Features |
| Free Plan | $0/user/month | Basic budgeting, expense tracking, and limited reporting. |
| Personal Plan | $5-$25/user/month | Financial forecasting, expense tracking, custom dashboards, and basic reporting. |
| Business Plan | $25-$50/user/month | Advanced reporting, collaboration tools, scenario modeling, and data integration. |
| Enterprise Plan | $50-$100/user/month | Customizable features, AI-driven analytics, regulatory compliance, and full support. |
Budget Management Software FAQs
Here are some answers to common questions about budget management software.
How does budget management software help with project cost control?
Budget management software gives you real-time insights into project spending. You can track expenses as they happen and compare them to your budget, making it easier to spot cost overruns. This helps you and your team make quick decisions to keep costs under control.
Can budget management software integrate with accounting tools?
Yes, most budget management software can integrate with popular accounting tools. These integrations allow smooth data sharing, reducing manual entry and keeping your financial records in sync. This can save your team time and prevent mistakes in your financial reporting.
Is budget management software useful for small businesses?
Absolutely. Budget management software isn’t just for large companies; it’s also helpful for small businesses. It helps you track your spending, manage cash flow, and stay within your budget, which is crucial for small businesses looking to grow without overspending.
How customizable are the reporting features in budget management software?
Many budget management tools offer customizable reporting options. You can tailor reports to show the specific data you need, whether it’s by project, department, or timeframe. This flexibility helps your team focus on the metrics that matter most to your financial goals.
Can multiple users access the same budget in budget management software?
Yes, most budget management software supports multiple users. This allows different members of your team to access and update the budget, making collaboration easier. You can also set permissions to who can make changes or view sensitive information.
What’s the typical learning curve for budget management software?
The learning curve depends on the complexity of the software you choose, but many tools are designed to be user-friendly. Most offer tutorials or customer support to help you get started. With some time and practice, your team should be able to use the software effectively.
What’s Next?
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