21 Best Business Budgeting Software Reviewed In 2024
10 Best Business Budgeting Software Shortlist
Here’s my shortlist of the best business budgeting software:
Our one-on-one guidance will help you find the perfect fit.
Business budgeting software is a valuable asset for any company. With the right software, teams can optimize financial planning and make informed decisions. But finding the right business budgeting software can be a challenge, especially with so many options available.
Using my experience in tech finance, I tested and compared several of the top business budgeting software available. From there, I compiled my results into detailed reviews to help you find the best software for your needs.
Why Trust Our Software Reviews
We’ve been testing and reviewing accounting software since 2023. We know how critical and difficult it is to make the right decision, which is why my team of software analysts and I have put together this software list.
Need expert help selecting the right tool?
With one-on-one help, we guide you to your top software options. Narrow down your software search & make a confident choice.
We invest in deep research to help our audience make better software purchasing decisions. We’ve tested more than 2,000 tools for different business finance use cases and written over 1,000 comprehensive software reviews. Learn how we stay transparent & check out our software review methodology.
Best Business Budgeting Software Summary
This comparison chart summarizes pricing details for my top business budgeting software selections to help you find the best one for your budget and business needs.
| Tools | Price | |
|---|---|---|
| Phocas | Pricing upon request | Website |
| Anaplan | Pricing upon request | Website |
| Workiva | Available upon request | Website |
| Causal | Pricing upon request | Website |
| Prophix | Pricing upon request | Website |
| Workday Adaptive Planning | Pricing upon request | Website |
| Float | From $6/user/month (billed annually) | Website |
| Planful | Pricing upon request | Website |
| SAP BPC | Pricing upon request | Website |
| Kepion | 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 Business Budgeting Software
It’s easy to get bogged down in long feature lists and complex pricing structures. To help you stay focused as you work through your unique software selection process, here’s a checklist of factors to keep in mind:
| Factor | What to Consider |
| Scalability | Will the software grow with your team's needs? |
| Integrations | Does it integrate with your existing tools and systems? |
| Customizability | Can you tailor the software to fit your team's workflow? |
| Ease of Use | Is the software intuitive for your team to learn quickly? |
| Budget | Does it fit within your financial constraints? |
| Security Safeguards | How well does it protect your sensitive financial data? |
| Support | What kind of customer support options are available? |
| Reporting Features | Does it offer the specific financial reports you need? |
Best Business Budgeting Software Reviews
Below are my detailed summaries of the best business budgeting software that made it onto my shortlist. My reviews offer a detailed look at the key features, pros and cons, integrations, and ideal use cases of each tool to help you find the best one for you.
Phocas is a business intelligence platform that combines budgeting and forecasting tools to help companies manage their financial planning. It brings together data from various sources, providing a unified view to support informed decision-making.
Why I picked Phocas:
It allows you to create budgets in a dynamic, live data analytics environment. This capability ensures easy access to both historical and current data without the need for multiple systems or spreadsheets, making it possible to perform budget and forecast tasks from anywhere. The software promotes collaboration across business units by providing real-time updates, eliminating version control issues and enhancing accountability through structured assignment and approval processes. Additionally, Phocas supports scenario analysis and what-if scenarios, allowing you to make informed decisions based on different market conditions.
Standout Features & Integrations:
Features include rolling forecasts that allow you to adjust budgets as business conditions change, three-statement budgeting to integrate income statements, balance sheets, and cash flow statements, and web-based workflows that guide users through the budgeting process.
Integrations include Acumatica, Epicor, Infor, Kerridge, Microsoft, MYOB, Netsuite, Sage, and SAP.
Pros and cons
Pros:
- Provides real-time updates
- Offers customizable dashboards and data modeling
- Integrates data from multiple sources
Cons:
- May not integrate with all data sources
- Potential learning curve
Anaplan is a cloud-based platform designed to help businesses with complex financial planning and analysis. It supports enterprise-wide planning, allowing organizations to connect data, people, and plans in a unified environment for more informed decision-making.
Why I picked Anaplan:
Anaplan offers scalable planning capabilities that make it ideal for large enterprises managing extensive financial processes. It features multi-dimensional modeling, enabling your team to analyze data from various perspectives. The platform's real-time collaboration tools help synchronize planning across different departments. Anaplan's flexibility in creating dynamic scenarios allows your organization to adjust strategies quickly in response to market changes.
Standout Features & Integrations:
Features include dynamic financial modeling, multi-dimensional scenario analysis, and real-time data updates to help your team make informed decisions. Anaplan supports detailed planning across various departments to unify data and strategy. It also allows for detailed forecasting, improving the accuracy of financial projections.
Integrations include Microsoft Excel, Salesforce, Workday, SAP, Oracle, NetSuite, Google Sheets, Snowflake, Tableau, and Power BI.
Pros and cons
Pros:
- Adaptable for complex modeling
- Real-time data calculations
- Flexible multi-use cases
Cons:
- Challenging metadata management
- Limited visualization compared to competitors
Workiva is a cloud-based platform that helps organizations improve budgeting, forecasting, and financial reporting processes. It is designed for teams that require accuracy and transparency in managing their financial data, with a focus on creating reliable reports.
Why I picked Workiva:
Workiva's strong focus on compliance reporting makes it ideal for businesses that need to meet strict regulatory standards. It offers features like integrated financial reporting and audit trails that help ensure data consistency and accuracy. The platform's real-time collaboration tools allow your team to work together seamlessly on reports while maintaining control over sensitive information. With Workiva, you can easily track changes and generate compliance-ready documents, saving time on manual processes.
Standout Features & Integrations:
Features include real-time collaboration on financial reports, enabling your team to work together efficiently. Workiva provides audit trails to track every change, ensuring accuracy and accountability. You can also create compliance-ready documents with integrated data sources for complete transparency.
Integrations include SAP, Oracle, Workday, Salesforce, NetSuite, Microsoft Excel, Tableau, Google Drive, Box, and Dropbox.
Pros and cons
Pros:
- Built-in audit trail
- Supports multiple reporting formats
- Automatically links data directly across documents
Cons:
- Dependent on internet connection
- Setup process can be time-consuming
Causal is a dynamic modeling tool designed to help teams create complex financial models with ease. It enables users to visualize data, build forecasts, and run multiple scenarios to explore different business outcomes.
Why I picked Causal:
Causal excels in allowing your team to create scenario-based models that adapt in real time, giving you the flexibility to test a variety of assumptions. You can easily switch between different financial forecasts and compare their impacts on your business.
The platform’s ability to handle uncertainty in modeling helps teams make informed decisions based on a range of possible outcomes. Its intuitive visualizations make it easier for non-technical users to interpret complex data.
Standout Features & Integrations:
Features include interactive scenario modeling, automated financial forecasting, and customizable data visualizations. You can quickly create multiple financial scenarios and compare their impacts on your business. The platform supports live updates, making it easier to adapt your models based on real-time data.
Integrations include QuickBooks, Xero, Stripe, NetSuite, Salesforce, HubSpot, Snowflake, Google Sheets, Airtable, and Slack.
Pros and cons
Pros:
- Fast model-building process
- Visual workspace for scenarios
- Built-in financial formulas
Cons:
- Different formula writing from Excel
- Requires mouse navigation over shortcuts
Prophix is a corporate performance management solution that helps businesses with budgeting, forecasting, and financial planning. It’s designed to simplify financial processes and give teams more control over their financial data with automation and detailed reporting.
Why I picked Prophix:
Prophix offers advanced budgeting and forecasting tools that are ideal for midsize companies managing complex financial operations. With features like automated financial consolidation and customizable reporting, your team can gain insights without getting bogged down in manual processes. It also supports driver-based planning, helping you align financial goals with business strategies.
Standout Features & Integrations:
Features include automated budgeting and forecasting, allowing your team to save time on manual data entry. The software offers driver-based planning to align financial goals with overall business objectives. Prophix also provides customizable reporting, making it easy to generate insights tailored to your company’s needs.
Integrations include Microsoft Dynamics 365, NetSuite, Sage Intacct, SAP, Oracle, QuickBooks, Salesforce, and Workday.
Pros and cons
Pros:
- Minimal IT support required
- Customizable reporting capabilities
- Detailed planning management features
Cons:
- Steep learning curve for setup
- Issues with integrating data from ERPs
Workday Adaptive Planning is a cloud-based solution that helps organizations with budgeting, forecasting, and financial analysis. It supports collaborative planning, making it easier for teams to align their financial strategies with their overall business goals.
Why I picked Workday Adaptive Planning:
This tool excels in workforce planning, offering features that help your team analyze headcount, compensation, and workforce-related expenses. Its intuitive dashboards and visual analytics make it easy to track and manage workforce trends.
Workday Adaptive Planning also allows for scenario analysis, enabling you to adjust forecasts quickly based on changing business needs. The platform’s data-driven approach helps ensure that your financial and operational plans stay aligned.
Standout Features & Integrations:
Features include real-time budgeting and forecasting that helps your team quickly adjust to changes in your financial landscape. It also offers scenario planning, allowing you to test various business outcomes and model potential impacts. The tool provides visual dashboards, giving clear insights into your financial and workforce data.
Integrations include Microsoft Excel, Salesforce, Workday HCM, NetSuite, QuickBooks, Xero, SAP, Oracle, Google Sheets, and Microsoft Dynamics 365.
Pros and cons
Pros:
- Excel add-on for easy reporting
- Useful dimensions in financial reports
- Supports both fiscal and calendar years
Cons:
- Advanced features require customization
- The interface could be improved for better usability
Float is a financial management tool designed to help businesses manage their cash flow with precision. It provides teams with a clear overview of their finances, enabling them to make informed decisions by accurately forecasting future cash needs.
Why I picked Float:
Float offers intuitive cash flow forecasting features that are ideal for businesses looking to stay on top of their financial planning. It allows you to create detailed scenarios, so you can visualize how different financial decisions will impact your cash flow. The platform’s real-time updates ensure that your team always has the most accurate financial data at their fingertips. Float’s simple interface makes it easy to adjust forecasts quickly, providing clarity on your financial position.
Standout Features & Integrations:
Features include visual cash flow forecasting software that helps you plan for future financial needs. Float offers scenario planning to explore different business decisions and their impacts. It also provides proactive alerts to keep your team informed of potential cash flow issues.
Integrations include Xero, QuickBooks Online, FreeAgent, Sage, MYOB, FreshBooks, Microsoft Excel, Zoho Books, KashFlow, and Wave.
Pros and cons
Pros:
- Excellent for short-term forecasting
- Real-time cash flow updates
- Agile financial modeling capabilities
Cons:
- Limited multi-currency support
- Long-term projections lack depth
Planful is a financial planning and analysis platform designed to help businesses with budgeting, forecasting, and financial reporting. It’s built for teams looking to streamline and automate complex financial processes while gaining better visibility into company-wide financials.
Why I picked Planful:
Planful excels at financial consolidation, enabling your team to combine data from multiple entities and create a unified financial view. It offers automated data validation and built-in compliance checks, reducing the risk of errors. The platform also provides customizable dashboards, allowing your team to monitor key metrics across various business units. Planful’s reporting capabilities are geared toward improving users’ financial health while maintaining accurate and consistent records.
Standout Features & Integrations:
Features include automated financial consolidation, which helps your team manage multi-entity data with ease. Planful also offers dynamic reporting that allows you to create and modify reports in real time. With workflow automation, your team can streamline approvals and reduce the time spent on manual tasks.
Integrations include NetSuite, Sage Intacct, Microsoft Dynamics 365, Oracle, SAP, Xero, QuickBooks, Workday, Salesforce, and Google Sheets.
Pros and cons
Pros:
- Smooth Excel integration
- Fast budget consolidation
- Easy scenario analysis setup
Cons:
- Limited training materials available
- Dependence on external consultants for setup
SAP BPC (Business Planning and Consolidation) is a solution designed for financial planning, budgeting, and consolidation. It helps businesses unify their financial data to improve decision-making processes, focusing on aligning plans and forecasts with organizational goals.
Why I picked SAP BPC:
SAP BPC is tightly integrated with other SAP products, which allows your team to leverage existing SAP data for more accurate planning and reporting. It offers features like real-time financial consolidation and compliance capabilities, ensuring that your data stays consistent across various financial scenarios.
The platform also includes customizable workflows that help streamline approval processes, making it easier to manage and control your planning activities. Its flexible reporting tools allow you to generate insights tailored to specific business needs, improving the visibility of your financial data.
Standout Features & Integrations:
Features include real-time financial consolidation, allowing your team to consolidate data from multiple sources. SAP BPC offers scenario planning to help you test different financial outcomes quickly. The platform also supports detailed compliance management for accurate financial reporting.
Integrations include SAP S/4HANA, SAP Analytics Cloud, SAP BW/4HANA, SAP NetWeaver, Microsoft Excel, and more.
Pros and cons
Pros:
- Effective data consolidation tools
- Handles multi-currency transactions well
- Supports long-term financial planning
Cons:
- Limited flexibility in customization
- Slow performance with large datasets
Kepion is a financial planning and analysis platform that helps organizations with budgeting, forecasting, and reporting. It focuses on providing tools for businesses to create flexible financial plans and gain insights into their financial data through interactive dashboards.
Why I picked Kepion:
Kepion offers highly customizable dashboards, allowing your team to tailor views and reports to meet specific business needs. The platform supports advanced data visualization features that make tracking key metrics straightforward. You can easily modify dashboards in real time, giving you immediate insights into your financial performance. Kepion's planning capabilities also include multi-scenario analysis, helping you make informed decisions based on various financial projections.
Standout Features & Integrations:
Features include interactive dashboards that allow you to create customized views for financial data, real-time what-if scenario modeling for exploring different business outcomes, and integrated planning capabilities that tie financial plans directly to your business strategy.
Integrations include Microsoft Power BI, Excel, SQL Server, SAP HANA, Salesforce, Azure, Oracle, Google Sheets, Microsoft Dynamics 365, and Tableau.
Pros and cons
Pros:
- Flexible for business rule creation
- Adapts well to Agile methodologies
- Familiar interface for Microsoft users
Cons:
- Reporting capabilities are limited
- Not ideal for very small companies
Other Business Budgeting Software
Here are some additional business budgeting software options that didn’t make it onto my shortlist, but are still worth checking out:
- Budgeto
For startups and entrepreneurs
- Sage
For small businesses
- Kashoo
For freelancers and consultants
- LivePlan
For strategic growth planning
- OneStream
For unified planning
- Jedox
For enterprise performance management
- Board
For decision-making insights
- Vena
For Excel integration
- DataRails
For financial analytics
- Cube
For Agile financial planning
- Oracle Netsuite Planning and Budgeting
For cloud-based planning
Related Tax Software Reviews
If you still haven't found what you're looking for here, check out these tools closely related to tax software that we've tested and evaluated.
Business Budgeting Software Selection Criteria
When selecting the best business budgeting software to include in this list, I considered common buyer needs and pain points like scalability and flexibility in financial planning. 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 common use cases:
- Create and manage budgets
- Forecast future cash flows
- Generate financial reports
- Track expenses and revenues
- Provide real-time financial data
Additional Standout Features (25% of total score): To help further narrow down the competition, I also looked for unique features, such as:
- Customizable dashboards
- Multi-scenario planning
- Integration with ERP systems
- Automated financial consolidations
- Advanced data visualization tools
Usability (10% of total score): To get a sense of the usability of each system, I considered the following:
- Intuitive interface design
- Minimal learning curve
- Ease of navigation
- Responsiveness of the platform
- Availability of user guides
Onboarding (10% of total score): To evaluate the onboarding experience for each platform, I considered the following:
- Availability of training videos
- Pre-built templates for setup
- Interactive product tours
- Access to webinars or tutorials
- Guided onboarding sessions
Customer Support (10% of total score): To assess each software provider’s customer support services, I considered the following:
- 24/7 customer service availability
- Live chat support options
- Access to a dedicated account manager
- Response time to queries
- Quality of support documentation
Value For Money (10% of total score): To evaluate the value for money of each platform, I considered the following:
- Pricing transparency
- Range of features included in base plans
- Availability of flexible pricing options
- Discounts for annual billing
- Return on investment for users
Customer Reviews (10% of total score): To get a sense of overall customer satisfaction, I considered the following when reading customer reviews:
- Frequency of positive feedback
- Common complaints and issues
- Overall rating compared to competitors
- Trends in feature requests
- User sentiment on value vs. cost
Trends in Business Budgeting Software
In my research, I sourced countless product updates, press releases, and release logs from different business budgeting software vendors. Here are some of the emerging trends I’m keeping an eye on:
- AI-driven forecasting: More tools are using AI to predict future financial outcomes with greater accuracy. AI can analyze historical data to identify patterns and trends that manual forecasting might miss. For example, some vendors now offer AI-based scenario planning to help businesses make better decisions under uncertainty.
- Collaborative budgeting: There's a growing focus on collaboration features that allow multiple team members to work on budgets simultaneously. Real-time updates and shared dashboards are becoming standard, enabling finance teams to align better and make decisions faster. Tools like Workday Adaptive Planning have integrated features that support these collaborative efforts.
- Scenario modeling: Advanced scenario modeling is becoming a must-have, letting users test various financial assumptions in real-time. This trend helps businesses understand the impact of different strategies before making decisions. Vendors like Anaplan offer flexible scenario analysis to help companies explore multiple outcomes quickly.
- Enhanced data visualization: Data visualization capabilities are improving to make complex financial information more accessible. Interactive dashboards, visual analytics, and clear charts are becoming key elements that help users grasp financial insights faster. Products like Kepion focus on customizable dashboards that cater to specific business needs.
- Integration with non-financial data: There's a shift towards combining financial and non-financial data for a more holistic view of business performance. Budgeting tools are increasingly pulling in data from HR, sales, and operations to provide insights that go beyond traditional financial metrics. This integration helps businesses align their financial planning with overall strategic goals.
What is Business Budgeting Software?
Business budgeting software is a type of financial tool that helps companies plan, track, and manage their budgets and expenses. Financial analysts, accountants, and business managers generally use these tools to make informed financial decisions and improve their financial planning.
Features like cash flow forecasting, scenario modeling, and data visualization help with analyzing financial data, exploring different outcomes, and gaining insights into the company's financial health. Overall, these tools provide businesses with the structure they need to manage their finances efficiently and make strategic decisions.
Features of Business Budgeting Software
When selecting business budgeting software, keep an eye out for the following key features:
- Cash flow forecasting: This helps predict future cash needs and availability, allowing you to plan ahead and avoid shortfalls.
- Scenario modeling: This lets you test different financial scenarios to see how changes in variables affect your budget.
- Customizable dashboards: Provides a visual interface where you can track key metrics and tailor the view to your needs.
- Data visualization: Turns complex financial data into easy-to-understand charts and graphs to aid decision-making.
- Multi-user collaboration: Enables multiple team members to work on budgets simultaneously, improving efficiency and communication.
- Automated financial reporting: Generates financial statements and reports automatically, saving time on manual data entry.
- Real-time data updates: Ensures that your financial information is always current, reducing the risk of outdated data.
- Integration with accounting software: Connects with your existing accounting tools to streamline data transfer and maintain consistency.
- Expense tracking: Monitors and categorizes your expenses in real time, helping you stay on top of your spending.
- Security controls: Protects sensitive financial data with access permissions and data encryption to prevent unauthorized access.
Benefits of Business Budgeting Software
Implementing business budgeting software provides several benefits for your team and your business. Here are a few you can look forward to:
- Improved financial accuracy: Automated calculations reduce human errors and provide more reliable financial data for decision-making.
- Better cash flow management: Real-time tracking of income and expenses helps you avoid overspending and maintain a healthy cash flow.
- Faster decision-making: Instant access to up-to-date financial information speeds up the decision-making process for your team.
- Enhanced collaboration: Multi-user access allows different departments to contribute to the budgeting process, leading to more cohesive planning.
- Increased efficiency: Automation of repetitive tasks like data entry and report generation frees up time for more strategic activities.
- Scalability: Adaptable features ensure that the software can grow with your business as your financial needs become more complex.
- Data-driven insights: Detailed reporting and visualization tools help identify trends and opportunities to optimize your financial strategy.
Costs and Pricing of Business Budgeting Software
Selecting business budgeting software requires an understanding of 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 business budgeting software solutions:
Plan Comparison Table for Business Budgeting Software
| Plan Type | Average Price | Common Features |
| Free Plan | $0/user /month | Basic budgeting tools, limited reporting, single-user access, and minimal support. |
| Personal Plan | $10-$30 /user /month | Expanded budgeting tools, basic cash flow forecasting, personalized reports, and email support. |
| Business Plan | $30-$75 /user /month | Multi-user access, advanced forecasting, customizable dashboards, automated reporting, and priority support. |
| Enterprise Plan | $75-$150+ /user /month | Full financial consolidation, scenario modeling, unlimited users, real-time data updates, dedicated account manager, and enterprise-grade security. |
Business Budgeting Software FAQs
Here are some answers to common questions about business budgeting software:
Can business budgeting software handle multiple departments or entities?
Yes, many business budgeting tools are designed to manage budgets across multiple departments or entities. Features like multi-user collaboration, departmental budget tracking, and consolidated financial reports are common in enterprise-level solutions. This functionality allows you to get a comprehensive view of your financials across the entire organization.
Is scenario planning important in budgeting software?
Scenario planning is crucial for testing different financial outcomes based on varying assumptions. It helps businesses prepare for multiple situations, making it easier to make strategic decisions under uncertainty. Tools like Anaplan and Workday Adaptive Planning are known for their advanced scenario modeling capabilities, which allow users to visualize the impact of different business strategies.
What kind of reporting features should I expect from business budgeting software?
The best budgeting software offers automated reporting tools that generate detailed financial reports with just a few clicks. Look for features like customizable dashboards, real-time data updates, and visual analytics that can help you interpret financial data. These tools help finance teams quickly analyze trends and make data-driven decisions.
Can business budgeting software integrate with existing accounting systems?
Yes, most business budgeting software solutions are designed to integrate with popular accounting systems like QuickBooks, Xero, and NetSuite. Integration ensures that your budgeting and accounting data stay synchronized, reducing manual data entry and improving accuracy. Always check if the software supports your current tools before making a decision.
How secure is my financial data in business budgeting software?
Security is a top priority in business budgeting software, with most providers offering robust security features. Look for tools that include data encryption, role-based access control, and regular security updates to protect your sensitive financial information. These measures help ensure that only authorized personnel can access your financial data.
What’s Next?
Ready to compound your abilities as a finance professional? Subscribe to our free newsletter for expert advice, guides, and insights from finance leaders shaping the tech industry.