20 Best Financial Close and Consolidation Software Reviewed in 2025
Best Financial Close and Consolidation Software Shortlist
Here’s my shortlist of the best financial close and consolidation software:
Our one-on-one guidance will help you find the perfect fit.
Month-end close used to drain me. If you’re feeling buried in checklists and chasing numbers across tabs, you’re not alone. I didn’t realize how much time and stress I could save until I found the right financial close and consolidation software.
Without it, I ran into the same problems over and over:
- Spending hours reconciling data across spreadsheets that never matched
- Rushing to meet deadlines with no time left to review or catch mistakes
- Struggling to explain variances because the data wasn’t centralized or up to date
These problems kept happening because we didn’t have the right systems in place—just manual processes and disconnected tools.
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So I started testing tools built for this exact purpose. I’ve pulled together the best financial close and consolidation software options to help you save time, reduce stress, and get your numbers right the first time.
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Best Financial Close and Consolidation Software Summary
This comparison chart summarizes pricing details for my top financial close and consolidation software selections to help you find the best one for your budget and business needs.
| Tool | Best For | Trial Info | Price | ||
|---|---|---|---|---|---|
| 1 | Best for integrated compliance | Free demo available | Available upon request | Website | |
| 2 | Best for scenario planning | Free demo available | Pricing upon request | Website | |
| 3 | Best for data integration | Free demo available | Pricing upon request | Website | |
| 4 | Best for mid-market companies | Free demo available | Pricing upon request | Website | |
| 5 | Best for collaborative budgeting | Free demo available | Pricing upon request | Website | |
| 6 | Best for ERP integration | Free demo available | Pricing upon request | Website | |
| 7 | Best for Excel integration | Not available | Pricing upon request | Website | |
| 8 | Best for multi-currency support | Free demo available | Pricing upon request | Website | |
| 9 | Best for automated reconciliations | Free demo available | Pricing upon request | Website | |
| 10 | Best for real-time insights | Free demo available | Pricing upon request | Website |
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LiveFlow
Visit WebsiteThis is an aggregated rating for this tool including ratings from Crozdesk users and ratings from other sites.4.9 -
Float Financial
Visit Website -
Vena
Visit WebsiteThis is an aggregated rating for this tool including ratings from Crozdesk users and ratings from other sites.4.5
Best Financial Close and Consolidation Software Review
Below are my detailed summaries of the best financial close and consolidation software that made it onto my shortlist. My reviews offer an in-depth 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.
Workiva is a cloud-based platform designed for enterprises, focusing on financial reporting and compliance management. It helps finance and compliance teams enhance reporting processes and ensure regulatory adherence.
Why I picked Workiva: Workiva specializes in integrated compliance, making it a reliable choice for managing complex regulatory requirements. The platform effortlessly connects data and processes, reducing the risk of human error. Additionally, its audit trail capabilities provide transparency and accountability, which is important for compliance.
Standout features & integrations:
Features include real-time collaboration tools that enhance teamwork and automated reporting processes to reduce manual work. The platform also offers customizable reporting templates to fit your specific needs.
Integrations include Microsoft Excel, Google Sheets, SAP, NetSuite, Salesforce, Workday, Microsoft Dynamics, Tableau, and Slack.
Pros and cons
Pros:
- Audit trail and version history
- Data linking across documents
- Integrated compliance features
Cons:
- Resource-intensive for small teams
- Potential data migration issues
Anaplan is a cloud-based business planning and performance management platform aimed at large enterprises. It helps finance teams with budgeting, forecasting, and scenario planning to enhance strategic decision-making.
Why I picked Anaplan: Anaplan is famous for its scenario planning, which allows your team to model various business outcomes effectively. The platform's real-time data updates further complement this feature, ensuring that your financial plans are based on the latest information and insights. Additionally, its collaborative features enable cross-departmental planning and alignment.
Standout features & integrations:
Features include an intuitive interface that simplifies model building. The platform also offers advanced analytics to provide deeper insights into business performance.
Integrations include Salesforce, Microsoft Dynamics, SAP, Workday, NetSuite, Google Workspace, Microsoft Office 365, Tableau, and Slack.
Pros and cons
Pros:
- Cloud-based for global teams
- Customizable modeling
- Powerful connected financial planning
Cons:
- Limited offline capabilities
- Complex setup process
Jedox is a financial planning and analysis software designed for enterprises seeking to enhance their financial consolidation and planning processes. It serves finance teams by providing tools for budgeting, forecasting, and data integration to improve decision-making.
Why I picked Jedox: Jedox focuses on data integration, allowing your team to connect various data sources effortlessly. The platform's multidimensional database enhances data processing and analysis, while its flexible modeling helps you create customized financial models that fit your needs. Additionally, Jedox’s web-based interface supports easy access and collaboration.
Standout features & integrations:
Features include advanced analytics for deeper insights into your financial data. The software also offers self-service BI and dashboards for in-depth reporting.
Integrations include SAP, Microsoft Dynamics, Salesforce, Google Workspace, Microsoft Office 365, NetSuite, QuickBooks, Xero, and Workday.
Pros and cons
Pros:
- In-memory OLAP engine
- Integrated financial planning and reporting
- Customizable workflows
Cons:
- Learning curve for beginners
- Complex initial setup
Prophix is a corporate performance management software designed for mid-market businesses. It helps finance teams with budgeting, planning, and financial consolidation to improve decision-making and efficiency.
Why I picked Prophix: Prophix is tailored for mid-market companies, offering a balance of functionality and affordability. The platform's budgeting and forecasting tools support accurate financial planning, while its user-friendly interface simplifies the process for teams without extensive technical expertise. Prophix also provides detailed financial reports to enhance insight into business performance.
Standout features & integrations:
Features include scenario analysis to explore different financial outcomes. The software’s built-in workflow management also enables team collaboration, approval processes, and task tracking across departments to streamline operations.
Integrations include Microsoft Dynamics, SAP, NetSuite, Sage Intacct, QuickBooks, Salesforce, Workday, Google Workspace, and Microsoft Office 365.
Pros and cons
Pros:
- Strong audit trails and data security
- Advanced scenario planning
- Automated financial processes
Cons:
- Limited scalability for large enterprises
- Requires initial setup time
Centage is a budgeting and planning software designed for small to mid-sized businesses. It helps finance teams with forecasting, budgeting, and financial reporting, providing valuable insights into financial performance.
Why I picked Centage: Centage excels in collaborative budgeting, allowing your team to work together on financial plans with ease. Its real-time data updates ensure everyone has access to the latest financial information. The software also offers detailed scenario planning features, which enables your team to explore different financial outcomes and predict future trends on the spot.
Standout features & integrations:
Features include customizable dashboards for a personalized view of financial data. The software also offers detailed financial reporting to help you make informed decisions.
Integrations include QuickBooks, Xero, Sage Intacct, Microsoft Dynamics, NetSuite, Salesforce, Google Workspace, Microsoft Office 365, SAP, and Slack.
Pros and cons
Pros:
- Integrated budgeting and planning
- Built-in financial intelligence and logic
- Automated forecasting
Cons:
- Limited scalability for large enterprises
- Learning curve for new users
insightsoftware is a financial close and consolidation tool aimed at enterprises looking to enhance their financial reporting and consolidation processes. It assists finance teams by integrating with existing ERP systems to improve data accuracy and reduce closing times.
Why I picked insightsoftware: insightsoftware's real-time data connectivity enhances data accuracy and reliability, making it ideal for companies with complex financial systems. Along with this key feature, its user-friendly interface allows your team to navigate complex financial data with ease, combining both complexity and simplicity to streamline operations. insightsoftware also offers customizable reporting features to fit your specific business needs.
Standout features & integrations:
Features include strong scheduling capabilities for automated report generation, reducing manual workload and ensuring timely insights. It also supports multi-source data consolidation, allowing users to combine data from various systems into unified reports.
Integrations include SAP, Microsoft Dynamics, NetSuite, Sage, QuickBooks, Xero, Salesforce, Workday, and Google Workspace.
Pros and cons
Pros:
- Automated compliance support
- Pre-built templates
- Strong Excel integration
Cons:
- Limited offline capabilities
- Setup complexity
Datarails is a financial planning and analysis platform tailored for Excel users, helping finance teams with data consolidation and reporting. It automates financial processes while allowing users to work within their familiar Excel environment.
Why I picked Datarails: Datarails stands out for its Excel integration, making it a go-to for those who already rely on Excel for financial tasks. Along with this key feature, the platform automates data consolidation and reporting, minimizing manual input, and its AI-powered insights enhance decision-making by providing real-time data analysis. Datarails also supports scenario modeling and budgeting, making it versatile for various financial needs.
Standout features & integrations:
Features include version control to track changes across financial reports, ensuring accuracy and audit readiness. Its collaboration tools also allow multiple stakeholders to comment and work on reports simultaneously.
Integrations include QuickBooks, NetSuite, Xero, Sage Intacct, Microsoft Dynamics, SAP, Salesforce, Google Workspace, Microsoft Office 365, and HubSpot.
Pros and cons
Pros:
- Built-in audit trails and version history
- Scenario planning and forecasting
- Real-time data consolidation
Cons:
- Integration setup complexity
- Excel dependency
Lucanet is a financial consolidation software aimed at businesses of all sizes. It assists finance teams in managing complex financial data, focusing on consolidation and reporting.
Why I picked Lucanet: Lucanet excels in multi-currency support, making it ideal for businesses operating internationally. Its ability to handle various currencies simplifies the consolidation process. Additionally, the software’s intuitive interface ensures that your team can easily navigate and manage financial data.
Standout features & integrations:
Features include advanced reporting tools that enhance financial insights. The platform also supports compliance with various financial regulations.
Integrations include SAP, Microsoft Dynamics, NetSuite, QuickBooks, Xero, Salesforce, Workday, Google Workspace, and Microsoft Office 365.
Pros and cons
Pros:
- Scenario analysis and simulation
- Compliance and audit management
- Integrated data models
Cons:
- Requires training for new users
- Initial setup complexity
Trintech is a financial consolidation and close management tool designed for enterprises. It serves finance teams by automating reconciliation processes and enhancing financial reporting accuracy.
Why I picked Trintech: Trintech helps with automated reconciliations, reducing manual effort and errors in financial close processes. Through its workflow automation, companies can enhance approval processes and efficiency in a matter of steps. Trintech's audit trails also ensure transparency and adherence to financial regulations, reducing the risk of non-compliance.
Standout features & integrations:
Features include a dashboard that provides real-time visibility into financial close progress. The platform also offers compliance management tools to help your team adhere to financial regulations.
Integrations include SAP, Microsoft Dynamics, NetSuite, Workday, BlackLine, QuickBooks, Salesforce, Google Workspace, and Microsoft Office 365.
Pros and cons
Pros:
- Real-time risk management
- Advanced analytics and reporting
- Scalable for global enterprises
Cons:
- High resource consumption
- Limited offline capabilities
Board is a business intelligence and corporate performance management tool designed for enterprises. It serves finance teams by providing tools for analysis, planning, and forecasting.
Why I picked Board: Board offers real-time insights, which is vital for making decisions quickly. The platform's interactive dashboards allow your team to visualize data instantly, while its built-in analytics help you assess business performance and trends as they happen. Board's planning capabilities also support dynamic decision-making, enhancing your team's responsiveness.
Standout features & integrations:
Features include drag-and-drop data modeling tools that simplify complex data manipulation without coding. The platform also supports multi-dimensional analysis, enabling users to evaluate data from various perspectives.
Integrations include SAP, Microsoft Dynamics, Salesforce, Google Workspace, Microsoft Office 365, NetSuite, Workday, Slack, and ServiceNow.
Pros and cons
Pros:
- Fast, reliable data processing
- Scenario analysis
- Flexible modeling capabilities
Cons:
- Higher resource consumption
- Initial setup complexity
Other Financial Close and Consolidation Software
Here are some additional financial close and consolidation software options that didn’t make it onto my shortlist, but are still worth checking out:
- Rephop
For IFRS and US GAAP compliance
- Oracle Cloud EPM
For customizable workflows
- Workday
For workforce analytics
- OneStream
For financial intelligence
- Vena
For initial financial planning
- BlackLine
For automated journal entries
- Planful
For dynamic assessments
- Keeper
For small business needs
- HighRadius
For cash flow forecasting
- CCH Tagetik
For regulatory management
Financial Close and Consolidation Software Selection Criteria
When selecting the best financial close and consolidation software to include in this list, I considered common buyer needs and pain points like reducing manual errors and improving compliance. 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:
- Financial consolidation
- Intercompany account reconciliation
- Compliance reporting
- Budgeting and forecasting
- Variance analysis
- Balance sheet management
Additional Standout Features (25% of total score)
To help further narrow down the competition, I also looked for unique features, such as:
- Real-time data integration
- Customizable dashboards
- Scenario modeling
- Automated workflows
- Advanced analytics
Usability (10% of total score)
To get a sense of the usability of each system, I considered the following:
- Intuitive interface design
- Ease of navigation
- Minimal training required
- Responsive design
- User feedback mechanisms
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 workshops
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
- Response time
- Dedicated account managers
- Knowledge base resources
Value For Money (10% of total score)
To evaluate the value for money of each platform, I considered the following:
- Competitive pricing
- Feature set versus cost
- Scalability of pricing plans
- Hidden fees or charges
- Discounts for long-term commitments
Customer Reviews (10% of total score)
To get a sense of overall customer satisfaction, I considered the following when reading customer reviews:
- Overall satisfaction rating
- Frequency of feature requests
- Common praise points
- Common criticism points
- Customer retention rates
How to Choose Financial Close and Consolidation 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 | Ensure the software can grow with your business. Look for solutions that handle increasing data volumes and can adapt to more complex processes as needed. |
| Integrations | Check if the software integrates smoothly with your existing ERP, CRM, and other tools. This reduces data silos and enhances workflow efficiency. |
| Customizability | Look for software that allows you to tailor reports and dashboards to your specific needs. Customization helps align the tool with your unique processes. |
| Ease of Use | The software should be intuitive and user-friendly. Your team should require minimal training to get up and running quickly, saving time and resources. |
| Budget | Consider the total cost of ownership, including setup, licensing, and potential hidden fees. Ensure it fits within your financial constraints. |
| Security Safeguards | Verify the software offers strong data protection features, such as encryption and access controls, to safeguard your financial information. |
| Compliance | Evaluate if the software supports necessary compliance standards, such as IFRS or GAAP, to ensure accurate and legal financial reporting. |
| Support Services | Consider the availability and quality of customer support, including response times and support channels, to aid your team when issues arise. |
Trends in Financial Close and Consolidation Software
In my research, I sourced countless product updates, press releases, and release logs from different financial close and consolidation software vendors. Here are some of the emerging trends I’m keeping an eye on:
- AI-Driven Insights: Vendors are using AI to provide deeper insights into financial data. This helps teams identify trends and anomalies quickly. For example, some software now offers predictive analytics to forecast future financial scenarios.
- Real-Time Collaboration: More tools are focusing on enabling real-time collaboration among teams. This trend supports remote work environments and allows for more efficient financial close processes.
- Blockchain for Transparency: Some vendors are exploring blockchain technology to enhance transparency and traceability in financial transactions. This adds a layer of security and trust, ensuring data integrity across the board.
- Cloud-Based Solutions: The shift to cloud-based platforms is growing, offering scalability and accessibility from anywhere. This is particularly beneficial for global teams needing constant access to financial data.
- Enhanced Compliance Features: As regulations evolve, software is being updated to ensure compliance with new standards. This trend is crucial for companies operating in multiple countries with different regulatory requirements.
What Is Financial Close and Consolidation Software?
Financial close and consolidation software is a tool that helps businesses close their financial records at the end of an accounting period while providing consolidation solutions. These tools are generally used by finance professionals, such as accountants and controllers, to improve accuracy and efficiency in FP&A processes.
Financial close and consolidation software generally come with key features like automation of reconciliations, real-time data updates, and compliance management. These help with reducing errors, speeding up the close process, and ensuring regulatory adherence.
Features of Financial Close and Consolidation Software
When selecting financial close and consolidation software, keep an eye out for the following key features:
- Automation of Reconciliations: Reduces manual work by automatically matching transactions, saving time and minimizing errors.
- Real-Time Data Updates: Keeps your financial data current, allowing for timely decision-making and accurate reporting.
- Compliance Management: Ensures your financial processes adhere to regulations, reducing the risk of penalties and enhancing trust.
- Scenario Modeling: Helps you project different financial outcomes, aiding in strategic planning and forecasting.
- Customizable Dashboards: Allows you to tailor your view of key metrics to better align with your business needs and priorities.
- Multi-Currency Support: Facilitates the consolidation of financial data from international operations, simplifying global reporting.
- Collaborative Features: Enable multiple users to work together in real-time, improving efficiency and teamwork.
- Advanced Analytics: Provides deeper insights into financial performance, helping to identify trends and make informed decisions.
- Cloud-Based Access: Offers flexibility and scalability, allowing your team to access data from anywhere, supporting remote work and global operations.
- Audit Trails: Tracks changes in financial data for transparency and accountability, making it easier to trace and rectify discrepancies.
Benefits of Financial Close and Consolidation Software
Implementing financial close and consolidation software provides several benefits for your team and your business. Here are a few you can look forward to:
- Increased Efficiency: Automation of tasks like reconciliations speeds up the close process, freeing up your team to focus on more strategic activities.
- Improved Accuracy: Real-time data updates and compliance management reduce errors and ensure that your financial reports are reliable.
- Enhanced Decision-Making: Advanced analytics and scenario modeling provide insights that help you make informed business decisions.
- Better Collaboration: Collaborative features allow your team to work together more effectively, even if they're spread across different locations.
- Scalability: Cloud-based access and multi-currency support ensure that the software can grow with your business, accommodating more complex operations.
- Greater Transparency: Audit trails and customizable dashboards provide visibility into your financial processes, making it easier to track changes and maintain accountability.
Costs and Pricing of Financial Close and Consolidation Software
Selecting financial close and consolidation 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 financial close and consolidation software solutions:
Plan Comparison Table for Financial Close and Consolidation Software
| Plan Type | Average Price | Common Features |
| Free Plan | $0 | Basic reporting, limited user access, and email support. |
| Personal Plan | $10-$30/user/month | Financial consolidation, basic analytics, and limited integrations. |
| Business Plan | $40-$70/user/month | Advanced reporting, multi-currency support, and workflow automation. |
| Enterprise Plan | $80-$150/user/month | Customizable dashboards, real-time data updates, advanced compliance management, and dedicated customer support. |
Financial Close and Consolidation Software FAQs
Here are some answers to common questions about financial close and consolidation software:
What is the 20 consolidation rule?
The 20 consolidation rule applies to financial statements. If a parent company holds more than 20% of a subsidiary, it can use consolidated accounting. Holding less than 20% means using equity method accounting. This rule helps determine how financial results are reported.
Is FCCS part of Oracle EPM?
Yes, FCCS is part of Oracle EPM. It stands for Oracle Financial Consolidation and Close Cloud Service. It’s designed to enhance financial consolidation and close processes, offering a comprehensive solution for your business needs.
How can consolidation software improve compliance?
Consolidation software helps improve compliance by automating reporting processes and ensuring adherence to regulations. It provides audit trails and supports various standards like IFRS and GAAP. This reduces the risk of non-compliance and penalties for your business.
Can consolidation software handle multi-currency transactions?
Yes, many consolidation software solutions can handle multi-currency transactions. This feature simplifies financial reporting for businesses operating in multiple countries. It automatically converts and consolidates financial data, ensuring accuracy in your reports.
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