Sound financial planning is the key to building a sustainable business and lasts well into the future. This includes overseeing initial costs, finding potential profitability, anticipated costs, and various other factors. Financial planning software allows business owners to streamline their financial planning and management operations from one place. These solutions allow you to manage your finances without the need for hiring expensive financial managers.
However, picking the right financial planning software that fits your needs can be challenging. Here are the ten best financial planning tools for startups to help you make the best choice.
1. Sage Intacct
Sage Intacct is a financial planning software solution mainly used by CFOs to access financial reports across organizational departments and business entities. It’s an integrated financial management system best suited for startups and SMBs that want to strengthen their core financials and automate critical financial processes.
Key Features:
- General ledger and dynamic allocations
- Contract and subscription billing
- Accounts payable and receivable
- Contract revenue management and sales and use tax
- Global and multi-entity consolidations
Pros:
- Best-in-class accounting features
- Cloud support makes it ideal for on-field workers
- Caters to industry-specific needs
- Customizable reports for better decision-making
Cons
- Can be complex to use
- Invoicing needs require individual approval
Pricing
The vendor hasn’t provided pricing details. Visit the vendor’s website and request pricing to get pricing details.
2. CallHippo
CallHippo is a modern-day virtual phone number solution that allows you to connect with customers and streamline your communications. Financial advisors and planners need to ensure seamless communication with their clients. With CallHippo, you can enable effective communication with not only your customers but also team members. The software also comes with robust reporting and analytics features to help you make informed financial decisions.
Key Features:
- Remote financial planning and management
- IVR systems
- Automatic call recording and forwarding
- Contact management and sharing
- Reporting and analytics
Pros:
- Easy to use, ideal for startups
- World-class support and service
- Robust reporting and analytics features
- Mobile apps for remote financial planning
Cons:
- Lacks some financial management features
Pricing:
CallHippo comes in three plans, priced at $15, $30, and $45 per month, per user. There’s also an enterprise plan that allows you to build a customized solution as per your requirements.
3. Synder
Synder is a financial planning software solution that helps startups and small businesses record and reconciles financial data from platforms like PayPal, Shopify, and Stripe. It’s best suited for eCommerce companies that use multiple payment gateways to process payments. Synder provides detailed insights into sales, inventory, taxes, and more, thereby allowing you to streamline your financial planning operations from one place.
Key Features:
- Mobile payments and digital wallet integration
- Reporting and analytics
- Omnichannel, eCommerce integration, and POS integration
- Online payment portal with multi-currency support
- Credit card processing
Pros:
- Best-in-class customer support
- Easy-to-use interface
- Real-time sync and integration with tools like QuickBooks and Xero
- Effortless onboarding process
Cons:
Pricing:
Synder has three plans: Small – $15.99 per month, Medium – $31.99 per month, and Large – $115.99 per month.
4. NaviPlan
NaviPlan is one of the leading financial planning software systems used by everyone from startups to established organizations. It’s best-suited for client-focused organizations that need to cater to the needs of multiple clients. With NaviPlan, you can perform a comprehensive range of financial planning processes, from goal-based assessments to cash flow planning.
Key Features:
- Advanced tax planning
- Business and cash flow planning
- Collaborative and goal-based planning
- Retirement Income Modeling
- Account aggregation
- Advanced tax planning
Pros:
- Detailed reports for accurate decision-making
- Ability to easily enter all types of data
- Itemized cash flow to double-check your work
- Seamless modeling capabilities
Cons:
- Duplication and output errors
- Outdated software with some bugs and issues
Pricing:
The vendor has not disclosed the pricing. Some resources suggest that NaviPlan is priced at $2,415 per year for single advisor shops, and adding the client portal and aggregation increases the price to $3,857 per year.
5. OnTrajectory
OnTrajectory is a financial planning software provider that helps you manage all your finances from one place. It comes with advanced financial planning features, the most popular of which is the forecasting feature. You can input a client’s income and expense data and the software can predict where they’ll be in the upcoming 15, 20, or 30 years.
Key Features:
- Professional-grade financial projections
- Customize financial goals based on variables
- Monitor investments and expenses
- Create multiple scenarios
- Track plan progress
Pros:
- Various tools to track, plan, and manage finances
- Use without providing private account details
- Create and track hypothetical scenarios
- Get complete flexibility and control
Cons:
- No money management features
- Lacks automation features
Pricing:
OnTrajectory has plans starting at $5 per month if paid yearly ($60) or $9 per month if paid monthly.
6. CAFLOU
CAFLOU is a digital cash flow management system that helps you better track, manage, and organize your business’s finances and cash flow. It enables you to keep track of cash flows and income and expenses by suppliers and customers. Caflou lets you streamline your company’s finances in an easy and effortless way.
Key Features:
- Track the revenue generated by each employee
- Manage your projects and orders
- Streamline team communication and collaboration
- Keep track of sales activities
- Automate complex financial processes
Pros:
- Simple and comprehensive solution; easy to deploy and use
- Effective reporting and analytics tools
- Effortless task tracking and employee management
- Generate invoices easily
Cons:
- Superadmins can’t change their username
- Can be overwhelming to use at the beginning
Pricing:
Caflou has three plans: Carp – €10 per month, per user; Dolphin – €13 per month, per user; and Turtle – pricing available on request.
7. Kashoo
Kashoo is an accounting application and financial planning software that enables startups and new businesses to automate their bookkeeping and financial planning tasks. It comes with machine learning capabilities that provide real-time, accurate reports by reconciling bank and credit card transactions.
Key Features:
- Support for multiple currencies
- Full bank reconciliation
- Track income and expenses
- Real-time view of finances
- Create and send invoices and accept payments
Pros:
- Bank syncing for seamless accounting and bookkeeping
- Easy to understand, set up, and use
- Best-in-class synchronization functionality
- Supports automatic reconciliation features
Cons:
- Some issues with connecting accounts and accessing transactions
- Lacks accounts payable and receivables
Pricing:
Kashoo has three plans, priced at $0, $20, and $30 per month.
8. Mint
Mint is a financial planning software solution that allows business owners to create a budget, manage bills, track investments, and stay on top of upcoming payments. Mint is entirely free to use, so business owners who’re looking to limit their expenses can use Mint to streamline their financial planning requirements. The app is easy to use, making it ideal for beginners who have little or no experience in financial planning.
Key Features:
- Seamless budget planning without spreadsheets
- Credit monitoring
- Track your expenses and reduce unnecessary costs
- Safely manage all finances from one place
- Mobile app support
Pros:
- Completely free to use
- Mobile-friendly and easy to use
- Cloud-based; access from any device
- Robust security features
Cons:
- Mainly caters to individuals and not businesses
- Lacks several financial planning features
Pricing:
Mint is completely free to use.
9. idu-Concept
idu-Concept is a comprehensive financial planning system that comes with budgeting, reporting, and forecasting features. It’s ideal for startups and SMBs across various industries, mainly financial, education, and manufacturing. Apart from finance planning, idu-Concept allows you to track and manage your assets, equipment, and more. You can pay for idu-Concept as a monthly subscription or purchase a lifetime license.
Key Features:
- Budgeting and forecasting
- Reporting templates
- Version control and real-time data updates
- Data import and budget hierarchies
- Forecasting based on historical data
Pros:
- Can modify the layout
- Easy to use
- World-class and user-centric customer support
- Hassle-free budget process
Cons:
- Screen layout slightly outdated
- User access needs to be updated in every Fiscal set
Pricing:
The vendor hasn’t disclosed the price. However, according to Capterra, idu-Concept pricing starts at $50 per feature per month.
10. Quicken
Quicken is money management and financial planning software ideal for startups and solo business owners. It’s best suited for real estate agents and property management companies looking for a centralized system to track and manage income and expenses. It also enables you to oversee tax planning and tenant rent payments.
Key Features:
- Create and manage budgets
- View and pay bills
- Track personal and business investments
- Property and tenant management
- Recurring/subscription billing
Pros:
- A versatile solution for all types of financial planning requirements
- Cloud capabilities enable seamless backup
- Add multiple businesses at once
- Impressive customer service
Cons:
- No way to recover lost passwords
- Not the easiest to use
Pricing
Quicken has four plans, priced at $45.99, $51.99, $77.99, and $103.99 per year.
Final Thoughts
Selecting the right financial planning software is the first step in streamlining your business’s financial planning procedures. Please note that every software solution is unique and has its own set of features, pros, and cons. Therefore, it’s crucial to determine your business goals and find a solution that aligns with your objectives.
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