10 Best Budgeting and Forecasting Software for Small Businesses

Are you searching for the best budgeting and forecasting software for small businesses? This article serves as the best guide on budgeting and forecasting software.

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it will give you full details of what you need to know about budgeting and forecasting software, its types, and the best budgeting and forecasting software for your small business.

What is Budgeting and Forecasting Software?

Budgeting software is a computer program that helps a business or an individual design, monitor, manage, and alter their budget.

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Forecasting software uses quantitative methods to analyze historical trends and business data, such as won and closed deals and win/loss records, and then produces an accurate report of the expected sales revenue.

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Companies use forecasting and budgeting software to plan the financial resources they need to support their business activities in the future.

This type of software helps estimate future revenues and expenses of the company across business entities or multiple departments.

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budgeting and forecasting software for small businesses
Photo credit: Corporate Finance Institute

Types of Software you Should use to Prepare a Budget Forecast

Below is a list of software you should use to prepare a budget

  • Centage

It is a comprehensive enterprise budgeting software provider that offers multiple Maestros tools for budgeting, financial reporting, forecasting, etc. Its features include comprehensive analytics, planning and budgeting, a financial dashboard, and reporting and forecasts.

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  • Scoro.

It combines budgeting features with other tools to manage an entire company in one system. It also manages expenses and resources, manages project budgets, and uses a financial dashboard.

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Its feature includes unlimited project budgets, use of a financial dashboard, Automated revenue stream from invoices, Financial KPI dashboard, use of a financial dashboard, Financial reports and analysis, and Invoicing and professional services automation.

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  • Prophix.

Prophix has created a software solution for corporate performance management, which means many smaller tools for planning its budgets and managing a company’s resources are included.

Its features include Cash flow planning, budgeting, forecasting, Profitability modeling and optimization, and Personnel planning.

  • Float

It is an easy-to-use cash flow budget and forecasting management software that integrates seamlessly with other tools like Quickbooks Online, Xero, and Free Agent.

Its feature includes Cash flow forecasting, Visual reporting, and Business budgeting. It is a highly visual and nice-to-use tool that helps clarify the company’s budgets and cash flow.

  • GIDE

It helps companies combine strategic planning, budgeting, and rolling forecasts while consolidating projects within one comprehensive corporate performance management platform.

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Its feature includes Capital asset planning, Working Capital, Operational data, Profit/loss statement, Balance sheet & Cash flows, and capital structuring.

It promises a fast implementation process of two weeks compared to the average of 8 weeks of budgeting software implementation.

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  • Maxiplan

With Maxiplan’s cost-effective budgeting solutions, organizations can move beyond the chaos and complexity of spreadsheet-based processes to plan and track financial performance more effectively.

Its feature includes Financial performance management, Revenue forecasting and analysis, Actual/budget/plan variance reporting, Ad hoc planning and consolidation, Profit & loss and cash flow forecasts, and budgeting and forecasting.

It challenges companies struggling with Excel spreadsheets to move businesses into a more organized solution.

  • Coupa

It is a simple budget management tool that helps inform every team member about budgets and real-time results.

It is part of a more comprehensive Coupa management suite, and it also has an expense and spending management suite to complement your budgeting.

Its feature includes Auto-updates, Real-time budget tracking, Informed approvals, Expense management, and Budget roll-up reports.

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10 Best Budgeting and Forecasting Software for Small Businesses

Below is a list of the ten best budgeting and forecasting software for small businesses.

1. QuickBooks
2. Tidemark
3. BillQuick
4. Neubrain
5. Adaptive Insights
6. Spendesk
7. Planguru
8. Cube Software
9. LucaNet
10. Abacus

Budgeting software is a computer program that helps a business or an individual design, monitor, manage, and alter their budget.

While Forecasting software uses quantitative methods to analyze historical trends and business data, such as won and closed deals and win/loss records, and then produce an accurate report of the expected sales revenue.

Each software is used to plan the financial resources they need to support their business activities in the future.

Watch the video below to know the best budgeting and forecasting software for small businesses:

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