According to a report from Allied Market Research, the global market for financial planning software is expected to reach $16.9 billion by 2031.
Financial planning is the process of setting money goals for a business and figuring out how to achieve them. It includes budgeting, forecasting, and making smart decisions to keep the business financially stable and growing.
Financial planning is important because it helps businesses adapt to changes in the economy, make smart investments, and stay successful in the long run. Using the right financial tools can make this process even more effective.
These tools help businesses make better decisions, spend money wisely, and stay flexible in a changing market.
8 Best Financial Planning Tools for Businesses
Here are some of the best financial planning tools used by experts to help businesses manage their money:
1. Sage Intacct
Sage Intacct is a cloud-based tool that helps businesses manage their finances. It’s known for its strong accounting and reporting features, and it helps businesses stay on track by giving them real-time financial information. It also automates complicated tasks and makes things run smoothly.
Key Features:
- Multi-Dimensional Data Analysis – This lets users dig into financial details and see trends.
- Automates Financial Processes – Helps businesses reduce mistakes and improve efficiency.
- Better Budgeting and Planning – This makes it easier to plan and manage a business’s finances.
- Automated Revenue Recognition – Ensures revenue is reported accurately and follows accounting rules.
2. SAP Business Planning and Consolidation (SAP BPC)
SAP BPC is designed for large businesses and helps them with budgeting, planning, and financial reporting. It helps companies create detailed financial plans and make sure all their financial data is correct.
Key Features:
- Comprehensive Budgeting and Planning – Helps companies align their financial plans with their goals.
- Financial Consolidation – This makes it easier to combine financial data from different parts of the business.
- Scenario Modeling and Forecasting – This lets businesses predict different outcomes and plan for various situations.
- Integration with Other Tools – Works well with other SAP tools and third-party apps.
3. RightCapital
RightCapital is a financial planning tool that helps with retirement and tax planning. It’s easy to use and helps financial advisors create personalized plans for their clients, making it easier for businesses to manage their finances.
Key Features:
- Tax Planning – Helps advisors create strategies to save money on taxes.
- User-Friendly Interface – Simple to use for both advisors and clients.
- Optimized Planning – Helps advisors create more efficient financial plans.
4. Asset-Map
Asset-Map helps advisors show their clients’ financial situations using visuals. It turns complex financial data into easy-to-understand pictures, making it easier for clients to understand their financial plans.
Key Features:
- Visual Communication – Helps advisors explain complex financial information using pictures.
- Financial Landscape Representation – Shows clients their financial situation in an easy-to-understand way.
- Better Communication – Makes it easier for advisors and clients to talk about financial goals.
5. Float
Float is a tool that helps businesses manage their cash flow. It helps financial advisors understand and predict the money coming in and going out, which helps them make better financial decisions.
Key Features:
- Cash Flow Forecasting – Helps businesses predict how much money they’ll have at different times.
- Easy to Use – The simple design makes it easy to understand and manage finances.
- Supports Decision-Making – Helps businesses make smart decisions based on clear data.
- Strategic Planning – Provides useful insights to help businesses plan their finances better.
6. eMoney Advisor
eMoney Advisor is a wealth management platform that helps businesses and individuals plan their finances and retirement. It allows financial advisors to work closely with their clients to create detailed plans and look at different financial scenarios.
Key Features:
- Comprehensive Wealth Management – Lets advisors track investments and financial goals.
- Collaborative Planning – Advisors and clients can work together to build financial plans.
- Advanced Scenario Modeling – Helps advisors analyze different financial situations and make smart decisions.
- Interactive Client Engagement – Makes it easy for clients to participate in the planning process.
7 . SAS Financial Management
SAS Financial Management is a tool that focuses on advanced analytics. It helps businesses analyze their finances in detail, predict future trends, and plan for the future.
Key Features:
- Performance Management – Helps businesses improve their financial performance.
- Forecasting Capabilities – Allows businesses to predict future financial situations.
- Strategic Planning – Helps businesses align their financial goals with their overall plans.
- Data-Driven Decisions – Provides accurate data to help businesses make better financial decisions.
8. QuickBooks Online
QuickBooks Online is a popular financial tool that helps businesses manage their finances easily. It’s great for tracking expenses, creating invoices, and managing payroll. It’s especially helpful for small to medium-sized businesses that need an all-in-one solution to keep their finances organized.
Key Features:
- Expense Tracking – Automatically tracks business expenses and helps keep everything in one place.
- Invoice Creation – Easily creates and sends invoices to clients.
- Payroll Management – Simplifies paying employees and contractors.
- Financial Reports – Generates reports that help businesses understand their financial health.
Why Financial Planning Tools Matter
Running a business without good financial tools is like trying to find your way without a map. To succeed, you need tools that help you keep track of your money, plan, and make smart choices. Tools like Sage Intacct, SAP BPC, and Float help you see where your money goes, predict future costs, and make better decisions.
These tools do more than just organize your finances—they help you avoid mistakes and make your business stronger. But it’s not enough to just have them. You need to use them regularly.
Start with one tool that works for your business and stick with it. The sooner you start, the sooner you’ll see the benefits.
FAQs
What are investment advisor tools?
Investment advisor tools are software and platforms designed to help financial professionals manage investments, analyze financial data, and create personalized investment strategies for their clients. These tools assist in tracking portfolios, analyzing market trends, and optimizing investment decisions.
How can financial advisor technology help my business?
Financial advisor technology includes tools and software that streamline the financial advising process. It helps manage client data, forecast financial needs, track investments, and ensure compliance with financial regulations. This technology makes it easier for advisors to offer more accurate advice and improve client satisfaction.
What is do-it-yourself financial planning software?
Do-it-yourself financial planning software allows individuals to create their financial plans without needing a professional advisor. This type of software provides tools for budgeting, forecasting, retirement planning, and investment tracking, empowering users to make informed decisions about their finances.
How do banking tools assist in financial planning?
Banking tools are software and online platforms that help manage personal or business finances. They help with tasks like tracking spending, transferring funds, setting up savings goals, and managing loans. These tools are essential for budgeting and planning, allowing users to keep their finances in check.