All businesses need to know where they stand financially at any given point. That's where financial projection software comes in. But knowing how to create financial models is an art that's difficult to master.
Thankfully, we've created the SaaS Financial Model You'll Actually Use. In it, we go over business planning, financial modeling, scenarios, budgets, and more for both large and small business.
No financial projection is complete without raw, real-time data. Consider a free 14-day trial of Baremetrics for all the data you need.
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What is Financial Forecasting Software?
Financial projection software helps businesses plan their resources in support of their future activities. It helps companies with future revenue and expense estimates regardless of department or entity type. For instance, a manager or top-level executive might use financial projection software for departmental budgets and financial forecasts. An accountant uses this tool to consolidate budgets across departments and create a budget for the company as a whole. An accountant can also use financial projection software to uncover potential changes to revenue or expenses and alert top-level management before profits are impacted.
On its face, financial projection software may seem like a generic solution—don't all accounting tools offer a budgeting feature? Sure, this type of software uses data from existing accounting tools you probably already use—yet offers incredibly advanced functionality.
The majority of accounting software offers basic features for budgeting, but many companies need advanced financial forecasting solutions. Financial projection software relies on the financial data within your existing accounting software systems to bolster your financial management - but you also need the metrics that supply the data.
The functionality of financial projection software coupled with the in-depth data you get with Baremetrics means your forecasts can be so much more detailed, and therefore more valuable. Consider a free 14-day trial.
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Best Financial Projection Software for 2021
The best software for financial forecasting will:
- Help you fine-tune your business plan
- Have various budget templates
- Allow for multiple budget versions
- Keep track of historical budgets to help with future forecasting
- Compare forecasted revenue and expenses with actual figures
- Combine budgets across departments for company-wide cash flow forecasting
- Allow for what ifs in the event of budgetary changes
- Keep watch over budgeting process performance
The following financial planning software meets or exceeds these criteria.
Business is always evolving. Your processes and systems should, too. You can achieve your company's goals, improve profits, and minimize risks by automating various tasks with Prophix, such as budgeting, planning, consolidating, and reporting. Whether you choose cloud-based services or onsite, this software supports you with a flexible platform that scales with you.
This financial projection software offers an all-in-one solution for budgets, forecasts, reports, and more. It's fast and easy to implement and its intuitive interface meets the needs of any sized business up to 500 employees. Integrations with accounting solutions you already use for things like your balance sheet, such as QuickBooks Online, Xero, or NetSuite, means you'll see the value from the moment you set it up.
Take your cash flow statements, budgets, plans, financial reports, and models to a whole new level with this financial planning solution. The familiar feel will help you streamline your processes and offer shareholders financial statements with strategic insights. You can configure Adaptive Planning to your specific requirements, create customized calculations, and adapt as you grow.
Wouldn't it be nice if you could connect departments and your existing systems, all while using data to plan your company finances with instant insights into cash flow? With Vena, you can. This financial projection software combines incredible integration and planning ability with a familiar, Excel-like interface, allowing departments to cooperate more effectively toward shared company goals on a platform that has no learning curve. It's easy to use, flexible, scalable, and lets companies orchestrate budgets, forecasts, models, reports, and more.
How Baremetrics Can Help
All of the above financial software solutions are nothing without the right, in-the-moment data. To get the right data, you need to track the right KPIs.
That's where Baremetrics comes in.
Imagine tracking all the key metrics of your company and the ability to produce rolling forecasts. And with seamless integration, you're just a free trial away from better insights. Try Baremetrics today for free.
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