19 Best Financial Consolidation Software Reviewed in 2025
Best Financial Consolidation Software Shortlist
Here’s my shortlist of the best financial consolidation software:
Our one-on-one guidance will help you find the perfect fit.
Relying on outdated financial consolidation software can slow everything down. With the wrong solution, closing the books takes too long, data from multiple entities doesn’t align, and manual adjustments only continue to increase the risk of errors.
These problems don’t happen because you or your team aren’t doing enough. They happen because your software isn’t built to handle modern financial operations. After spending years in the financial industry, I’ve learned the struggles financial professionals face daily when it comes to outdated software.
To help you get started in your search for the right software, I tested and reviewed the best financial consolidation software options available. I looked at automation, reporting accuracy, ease of use, and scalability to find solutions that work for growing businesses. Whether you need faster closes, seamless integrations, or better compliance tracking, this guide will help you choose the best tool for your needs.
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Best Financial Consolidation Software Summary
This comparison chart summarizes pricing details for my top financial consolidation software selections to help you find the best one for your budget and business needs.
| Tool | Best For | Trial Info | Price | ||
|---|---|---|---|---|---|
| 1 |  Vena Vena integrates with Excel for familiar, flexible consolidation and reporting. | Best for Excel integration | 7-day free trial | Pricing upon request | Website |
| 2 |  Anaplan Anaplan enables dynamic planning with real-time financial data modeling. | Best for real-time collaboration | Free demo available | Pricing upon request | Website |
| 3 |  BlackLine BlackLine automates consolidation and analytics for accurate financial close. | Best for compliance with global standards | Free demo available | Pricing upon request | Website |
| 4 |  Jedox Jedox delivers customizable workflows for tailored financial consolidation. | Best for customizable workflows | Free demo available | Pricing upon request | Website |
| 5 |  Planful Planful accelerates financial close with automation and multi-entity support. | Best for mid-sized companies | Free demo available | Pricing upon request | Website |
| 6 |  Centage Centage provides budget-friendly automation for small and mid-sized businesses. | Best for small businesses | Free demo available | Pricing upon request | Website |
| 7 |  SoftLedger SoftLedger handles crypto accounting and multi-entity consolidation in real time. | Best for blockchain integration | Free demo available | Pricing upon request | Website |
| 8 |  Lucanet LucaNet offers automated reporting and built-in compliance for auditors. | Best for automated reporting | Free demo available | Pricing upon request | Website |
| 9 |  Oracle Cloud EPM Oracle Cloud EPM supports complex global consolidations with built-in compliance. | Best for large enterprises | Free demo available | Pricing upon request | Website |
| 10 |  Board Board combines consolidation, planning, and analytics in a unified platform. | Best for data visualization | Free demo available | Pricing upon request | Website |
Best Financial Consolidation Software Review
Below are my detailed summaries of the best financial consolidation software that made it onto my shortlist. My reviews offer an in-depth look at the key features, pros & cons, integrations, and ideal use cases of each tool to help you find the best one for you.
Vena is a financial planning and analysis platform that integrates with Microsoft Excel to streamline financial consolidation and reporting processes. It serves finance teams seeking to leverage their existing Excel skills while enhancing data accuracy and collaboration.
Why I picked Vena: Vena's native integration lets you continue using familiar spreadsheets while adding powerful consolidation features. Its automated intercompany eliminations and journal entry templates simplify complex consolidation tasks, reducing manual effort. Plus, the software’s workflow tools help you track activities, improve collaboration, and govern your close process with real-time status dashboards.
Standout features & integrations:
Features include scenario modeling, which lets your team assess various financial outcomes by adjusting key drivers. Its ad-hoc reporting tools also enable quick analysis, allowing you to answer business questions in minutes. Additionally, the software’s machine learning forecasting uses predictive analytics to improve forecast accuracy.
Integrations include Microsoft 365, SAP, Salesforce, Workday, NetSuite, QuickBooks, Sage, Dropbox, and OneDrive.
Pros and cons
Pros:
- Automates budgeting and forecasting
- Custom workflows and reporting
- Supports team collaboration
Cons:
- Expensive for small businesses
- Delays in ledger account updates
Anaplan is a cloud-based platform designed to connect finance planning processes, model complex scenarios, and forecast continuously for improved decision-making.
Why I picked Anaplan: Anaplan offers a unified platform that links corporate and business unit finance teams, providing a single source of truth. This setup empowers data-driven decisions aligned with strategic goals. Additionally, Anaplan's AI-infused financial planning and analysis capabilities help you forecast with speed and confidence.
Standout features & integrations:
Features include dynamic scenario modeling, which lets your team evaluate various financial outcomes by adjusting key drivers in real time. The platform's AI and machine learning capabilities enhance forecasting accuracy, providing deeper insights into future performance. Plus, visually engaging dashboards and reports help you tell the story behind the numbers, facilitating quick alignment and action within your team.
Integrations include Salesforce, Workday, SAP, Microsoft Dynamics 365, NetSuite, Tableau, Power BI, Docusign, and MuleSoft.
Pros and cons
Pros:
- Handles complex real-time calculations
- Offers multi-level security options
- Manages large user inputs simultaneously
Cons:
- Limited storage capacity
- Expensive for smaller businesses
BlackLine offers a cloud-based solution designed to automate and control financial close processes.
Why I picked BlackLine: If your team needs to ensure compliance with global accounting standards, BlackLine provides features that help. Its Financial Reporting Analytics allows you to control, validate, and streamline balance sheet and P&L analyses. Additionally, the platform offers Variance Analysis, enabling continuous monitoring of risk with automated fluctuation analysis. Together, these tools assist in maintaining accuracy and transparency in your financial reporting.
Standout features & integrations:
Features include task management to help you track and assign financial close activities, so nothing falls through the cracks. The software also offers auto-certification to speed up reconciliations by applying rules to match and clear transactions automatically. Plus, its journal entry automation lets you create, validate, and post entries directly into your ERP, reducing manual effort.
Integrations include SAP, Workday, NetSuite, Microsoft Dynamics 365, Sage Intacct, Xero, QuickBooks, Coupa, and Kyriba.
Pros and cons
Pros:
- Automated reconciliations reduce manual effort
- Continuous accounting enables real-time data processing
- Compliance reporting aligns with regulatory standards
Cons:
- Steep learning curve for new users
- Customization options may be limited
Jedox is a financial consolidation tool designed to simplify data aggregation and reporting for finance teams. It helps automate tasks like currency conversion and intercompany eliminations while supporting compliance with IFRS and GAAP.
Why I picked Jedox: If your team needs to tailor consolidation workflows to fit specific organizational structures, Jedox offers customizable options to meet those needs. Its platform allows you to integrate data from various ERP systems, providing a unified view of financial performance. Additionally, Jedox includes built-in best practices to help the consolidation process, ensuring full traceability and accelerating external reporting.
Standout features & integrations:
Features include automated cash flow forecasting, which helps your team plan for future liquidity. You can create audit-ready financial statements with built-in validation checks that reduce errors. The system also allows you to customize consolidation rules, so your financial processes match your organization’s specific requirements.
Integrations include SAP, Microsoft Dynamics 365, Workday, NetSuite, Sage Intacct, QuickBooks Online, IBM Planning Analytics, Anaplan, and BlackLine.
Pros and cons
Pros:
- Provides strong customer support
- Handles large datasets effectively
- Facilitates automated reporting processes
Cons:
- Steep learning curve for new users
- Performance issues with complex reports
Planful offers a solution designed to automate financial close processes across multiple sets of books, including elimination entries.
Why I picked Planful: Planful provides a solution that handles multiple sets of books and elimination entries. This means your team can close the books faster and reduce errors. It also offers flexible reporting, so you can analyze your data in various ways to gain insights. Plus, the software integrates multiple charts of accounts into a single consolidated solution, giving you a clear view of your company's financial health.
Standout features & integrations:
Features include automated intercompany eliminations, which helps manage transactions between entities without manual adjustments. You can set up approval workflows to make sure that financial statements go through the right checks before finalization. The system also supports multiple currencies, so your team can consolidate financials across global subsidiaries without extra steps.
Integrations include NetSuite, QuickBooks Online, Sage Intacct, Workday, Microsoft Dynamics 365, Xero, SAP, BlackLine, and Anaplan.
Pros and cons
Pros:
- Handles multiple currencies effectively
- Offers customizable reporting templates
- Provides workforce planning at employee level
Cons:
- Steep learning curve for new users
- Initial implementation can be time-consuming
Centage is a cloud-based platform for budgeting, forecasting, and financial reporting. It helps teams automate financial planning and make data-driven decisions.
Why I picked Centage: Centage’s drag-and-drop interface makes budgeting and forecasting easy, while its automated forecasting adjusts plans in real time, helping you stay agile. Not to mention, the software’s scenario analysis lets you compare different financial outcomes before making decisions, making it a great fit for small businesses.
Standout features & integrations:
Features include automated reporting, which generates financial statements without manual data entry. Centage’s built-in audit trails also track every change, making compliance and review easier, while its dynamic dashboards give you real-time visibility into financial performance.
Integrations include QuickBooks, Xero, Sage Intacct, NetSuite, Microsoft Dynamics 365, SAP, Workday, Salesforce, and ADP.
Pros and cons
Pros:
- Manages multiple departments and entities
- Allows detailed budget breakdowns
- Flexible payroll forecasting
Cons:
- Limited cost center allocations
- Reports can be slow
SoftLedger is a cloud-based accounting platform designed for businesses managing multiple entities and currencies. It offers real-time financial reporting and automation features to streamline accounting processes.
Why I picked SoftLedger: SoftLedger's platform lets you automate cryptocurrency transactions, making it easier to manage blockchain-related accounting. Its API capabilities allow for custom integrations. Additionally, with the software’s real-time financial reporting, you'll have updated insights into your financial data. SoftLedger also supports multi-entity consolidation, which is helpful if your business operates across various regions or sectors.
Standout features & integrations:
Features include automated bank reconciliation, which helps you match transactions without manual effort. You can set up approval workflows to keep your financial data accurate and compliant. The system also supports role-based access, so you can control who sees and edits specific financial records.
Integrations include QuickBooks Online, Xero, NetSuite, Sage Intacct, Microsoft Dynamics 365, Workday, SAP, Stripe, and Plaid.
Pros and cons
Pros:
- Handles cryptocurrency transactions efficiently
- Flexible chart of accounts
- Customizable reporting options
Cons:
- Mandatory purchase of five organizations
- Requires developer skills for customization
LucaNet is a financial consolidation software designed to consolidate processes for finance teams. It automates various consolidation steps, including intercompany eliminations and currency translations, ensuring compliance with accounting standards like IFRS and US GAAP.
Why I picked LucaNet: LucaNet offers a high degree of automation that reduces manual effort. Its intuitive interface allows for easy maintenance of structures, charts of accounts, and master data, so you can manage complex group structures without involving IT. Additionally, LucaNet provides complete data integration within a single data model, giving you a clear and transparent view of your financial data.
Standout features & integrations:
Features include automated cash flow forecasting, which helps your team track liquidity in real time. You can create audit-ready financial statements with built-in validation checks to reduce errors. The system also offers drag-and-drop report building, making it easy to customize reports without needing IT support.
Integrations include SAP, Microsoft Dynamics 365, NetSuite, Sage Intacct, Workday, QuickBooks Online, Xero, IBM Cognos, and Anaplan.
Pros and cons
Pros:
- Automates intercompany reconciliation
- Provides drill-down to transaction level
- Facilitates IFRS 16 lease accounting
Cons:
- Requires double data entry during implementation
- Limited built-in analytics capabilities
Oracle Cloud EPM is a cloud-based solution that automates financial close and reporting. It helps businesses consolidate data while ensuring accuracy and compliance.
Why I picked Oracle Cloud EPM: Oracle Cloud EPM simplifies intercompany eliminations and currency translation. Its built-in financial intelligence ensures consistent accounting rules and reduces errors. The platform also includes configurable compliance features and audit controls, helping your team stay aligned with regulatory standards.
Standout features & integrations:
Features include task orchestration, which helps your team manage the entire financial close process in one place. It also provides automated data validation to help ensure accuracy by checking for discrepancies before finalizing reports. Plus, the software’s real-time dashboards allow you to monitor financial performance as it happens, aiding in strategic decision-making.
Integrations include Oracle ERP Cloud, SAP, Microsoft Dynamics 365, Workday, NetSuite, Salesforce, IBM Cognos, Anaplan, BlackLine, and OneStream.
Pros and cons
Pros:
- Provides detailed audit trails
- Facilitates accurate financial statements
- Improves data traceability
Cons:
- Reporting capabilities can be inefficient
- Integration with other programs may be limited
Board is a cloud-based platform that helps businesses manage financial consolidation, planning, and reporting. It provides tools to automate data collection and ensure accuracy in financial statements.
Why I picked Board: For companies that need clear and interactive data visuals, Board offers built-in dashboards that make complex financial data easier to understand. It allows you to customize reports with charts, graphs, and dynamic tables, while automated consolidation ensures your financial data stays up to date without manual adjustments. The platform also includes drill-down capabilities, so you can analyze numbers at a detailed level.
Standout features & integrations:
Features include automated currency conversion, which helps your team manage financial data across multiple regions. Its audit trails also track every change, ensuring transparency and compliance. Plus, the software’s workflow automation reduces manual work by guiding users through financial consolidation steps.
Integrations include SAP, Microsoft Dynamics 365, Workday, NetSuite, Salesforce, IBM Planning Analytics, Snowflake, Tableau, and Power BI.
Pros and cons
Pros:
- Strong audit trail for compliance tracking
- Scenario planning for financial forecasting
- Automated currency conversion for global operations
Cons:
- Steep learning curve for new users
- Limited flexibility in report formatting
Other Financial Consolidation Software
Here are some additional financial consolidation software options that didn’t make it onto my shortlist, but are still worth checking out:
- JustPerform
For user-friendly interface
- CCH Tagetik
For regulatory compliance
- Sage Intacct
For granular financial insights
- Prophix
For mid-market companies
- Fathom
For visual financial reporting
- LiveFlow
For real-time data updates
- OneStream
For unified platform solutions
- Workday Adaptive Planning
For workforce planning
- Joiin
For multi-currency consolidation
Financial Consolidation Software Selection Criteria
When selecting the best financial consolidation software to include in this list, I considered common buyer needs and pain points like integration with existing systems and ease of use. 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:
- Consolidating financial statements
- Automating data entry and reconciliation
- Handling multi-currency transactions
- Generating financial reports
- Ensuring compliance with financial regulations
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 analytics
- Blockchain integration
- Advanced scenario modeling
- AI-driven insights
- Customizable dashboards
Usability (10% of total score)
To get a sense of the usability of each system, I considered the following:
- Intuitive user interface
- Minimal learning curve
- Clear navigation structure
- Responsive design
- Accessibility features
Onboarding (10% of total score)
To evaluate the onboarding experience for each platform, I considered the following:
- Availability of training videos
- Interactive product tours
- Comprehensive user manuals
- Access to webinars
- Supportive chatbots
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
- Quick response times
- Knowledgeable support staff
- Access to a resource library
Value For Money (10% of total score)
To evaluate the value for money of each platform, I considered the following:
- Competitive pricing
- Transparent pricing structure
- Features included in base price
- Scalability of pricing plans
- Discounts for long-term contracts
Customer Reviews (10% of total score)
To get a sense of overall customer satisfaction, I considered the following when reading customer reviews:
- Overall satisfaction ratings
- Commonly reported issues
- Praise for specific features
- Feedback on customer support
- Willingness to recommend to others
How to Choose Financial 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, handling increased data volume and complexity without sacrificing performance. |
| Integrations | Check if it integrates with your existing systems like ERP and CRM to streamline data flow and reduce manual entry. |
| Customizability | Look for options to tailor dashboards and reports to your team’s specific needs, allowing for flexible data presentation. |
| Ease of Use | Choose a user-friendly interface that minimizes the learning curve, enabling your team to adopt the tool quickly. |
| Budget | Evaluate the total cost of ownership, including licensing, implementation, and ongoing support fees, to ensure it fits your financial plan. |
| Security Safeguards | Confirm strong security measures are in place to protect sensitive financial data, including encryption and access controls. |
| Support | Consider the availability and quality of customer support, including training resources and response times, to assist your team when needed. |
| Reporting Capabilities | Ensure the software provides advanced and customizable reporting features to meet your financial analysis needs. |
Trends in Financial Consolidation Software
In my research, I sourced countless product updates, press releases, and release logs from different financial consolidation software vendors. Here are some of the emerging trends I’m keeping an eye on:
- AI-Driven Insights: More tools are integrating AI to provide predictive analytics and insights. This helps finance teams anticipate trends and make informed decisions. For example, some vendors offer AI features that identify anomalies in financial data.
- Enhanced Collaboration Tools: Vendors are focusing on features that improve team collaboration, such as real-time commenting and shared workspaces. This makes it easier for remote teams to work together on financial reports.
- Blockchain Integration: Some software is beginning to incorporate blockchain for secure and transparent transaction tracking. This is particularly useful for businesses dealing with cryptocurrencies or requiring enhanced audit trails.
- Cloud-Native Solutions: There's a shift towards cloud-native applications, offering better accessibility and scalability. This allows users to access financial data from anywhere, supporting remote work and global teams.
- Focus on ESG Reporting: Environmental, Social, and Governance (ESG) reporting is gaining attention, with vendors adding features to help businesses track and report on ESG metrics. This helps companies align with growing regulatory and stakeholder demands.
What Is Financial Consolidation Software?
Financial consolidation software is a tool that automates the process of combining financial data from different departments or subsidiaries into a single, unified set of financial statements. It’s generally used by finance professionals, such as accountants and financial analysts, to ensure accuracy and compliance in financial reporting.
These tools offers key features such as real-time data validation, AI-driven insights, and enhanced collaboration capabilities to help with improving decision-making and maintaining transparency. Overall, financial consolidation software saves time, reduces errors, and provides valuable insights into an organization's financial health.
Features of Financial Consolidation Software
When selecting financial consolidation software, keep an eye out for the following key features:
- Real-Time Data Validation: Ensures accuracy in financial reporting by automatically checking data as it's entered.
- AI-Driven Insights: Provides predictive analytics to help users anticipate financial trends and make informed decisions.
- Multi-Currency Support: Allows businesses to manage and consolidate financial data across different currencies, essential for global operations.
- Scenario Analysis: Enables users to explore various financial outcomes, aiding in strategic planning and decision-making.
- Automated Reporting: Reduces manual work by generating financial reports automatically, saving time and minimizing errors.
- Collaboration Tools: Offers features like real-time commenting and shared workspaces to improve teamwork among finance professionals
- Cloud-Native Accessibility: Provides access to financial data from anywhere, supporting remote work and global teams.
- Compliance Management: Ensures adherence to financial regulations and standards, reducing the risk of non-compliance.
- Customizable Dashboards: Allows users to tailor data presentations to meet specific business needs, enhancing data visualization.
- Blockchain Integration: Offers secure and transparent transaction tracking, particularly useful for businesses dealing with cryptocurrencies.
Benefits of Financial Consolidation Software
Implementing financial consolidation software provides several benefits for your team and your business. Here are a few you can look forward to:
- Improved Accuracy: Automated data validation reduces errors in financial reporting, ensuring reliable data.
- Time Savings: Automated processes and reporting free up your team's time from manual data entry and report generation.
- Enhanced Decision-Making: AI-driven insights and scenario analysis provide valuable information to guide strategic decisions.
- Increased Collaboration: Real-time collaboration tools help your team work together effectively, even remotely.
- Regulatory Compliance: Compliance management features ensure your financial reporting meets industry standards and regulations.
- Scalability: Cloud-native solutions grow with your business, adapting to increased data volume and complexity.
- Global Reach: Multi-currency support and integration capabilities help manage financial data across different countries and currencies.
Costs and Pricing of Financial Consolidation Software
Selecting financial 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 consolidation software solutions:
Plan Comparison Table for Financial Consolidation Software
| Plan Type | Average Price | Common Features |
| Free Plan | $0 | Basic reporting, limited data storage, and standard support. |
| Personal Plan | $10-$30/user/month | Enhanced reporting, multi-currency support, and email support. |
| Business Plan | $50-$100/user/month | Advanced analytics, collaboration tools, and compliance management. |
| Enterprise Plan | $150-$30/user/month | Full customization, AI-driven insights, and dedicated account management. |
Financial Consolidation Software FAQs
Here are some answers to common questions about financial consolidation software:
What are the limitations of consolidated financial statements?
Consolidated financial statements might exclude non-controlling interests and face challenges with varied accounting policies. They can also struggle with currency translation and may not capture intangible assets. Understanding these limitations helps you manage expectations and address potential gaps.
What is the GAAP rule for consolidation?
Under US GAAP, consolidation requires identifying a controlling financial interest in an entity. This involves applying models like the voting interest entity model to determine if consolidation is necessary. Knowing these rules ensures compliance and accuracy in your financial statements.
What is the 20 consolidation rule?
The 20 consolidation rule refers to when a parent company holds more than 20% of a subsidiary, allowing them to use consolidated accounting. This helps in presenting a comprehensive view of financial performance across entities.
How do you manage data security in consolidation software?
Data security is crucial, so look for software with encryption, access controls, and regular security audits. Ensure that the software complies with industry standards to safeguard sensitive financial information from unauthorized access.
Why is consolidation software necessary for multi-entity companies?
Consolidation software is vital for multi-entity companies as it automates data aggregation and ensures consistent reporting across subsidiaries. It simplifies handling different currencies and accounting practices, providing a clear financial overview.
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