Top 10 Budgeting & Forecasting Software: Ratings and Reviews

The programs, performing tasks associated with budgeting and forecasting enable the organization’s executive to create and manage the planning approaches that are connected with the market. These applications leverage your knowledge and expertise while eliminating the pitfalls of financial area. With the help of budgeting software, the executives are not required to spend more time in strategy planning and managing data. Thus, these software benefits the users in every manner, without making extra efforts.

The list of top 10 budgeting & forecasting software help you to select the best software in order to handle all financials measures of your company. Our leading business review platform, Virtuous Reviews offers unbiased reviews, while considering all the major aspects. Those, who are not able to figure out suitable product from all the available options, then Virtuous Reviews would love to help them.

How to select best budgeting and forecasting solution for your business?

5 questions to ask when choosing a budgeting and forecasting solution for your company-

I. What is the rationale for the purchase?

First and foremost, you must understand how exactly the solution will benefit your business. What is it that you want to get out of a budgeting solution? Whether you’re looking for a more in-depth understanding of your financial situation, or require greater efficiency when budgeting, you must establish the reason for your purchase. Once you’ve figured this out, you will have narrowed down your choices.

II. What is the business case for a new budgeting solution?

Now it is time to take a few steps backward and look at the other strategic objectives of this purchase. Not only must you understand the rationale of buying new software, you must understand the needs of the employees. What about the senior executives? And other departments? Take the time to really understand the challenges of each person involved in the budgeting process to build a better business case. Gather this data and you’ll be on your way to purchasing the right solution for your company.

III. Does your current IT infrastructure support your choice of software?

Possibly the biggest contributing factor of how well a product will fit your company is whether your infrastructure will support the program. If it does fit, then perfect, if not, it will just be a waste of money. Before implementing any new software be sure that it will work flawlessly with your company’s system.

IV. What is the grand TOTAL?

Be sure to consider all the hidden costs when implementing your budgeting and forecasting software. Find out if all functionalities are included in one solution. Is there a possibility that you will have to implement multiple products? Will you need to provide training to your employees? You cannot focus on product cost alone, consider licenses, implementation costs, customizations and maintenance over time.

V. How are the customer testimonies?

The opinion of a crowd is a powerful tool. Much like how you would pick a restaurant, you would probably go with the one with the highest customer rating from a quick Google search or just take a quick glance of how many people are in the restaurant. Explore what other companies in your industry have to say about the product.

By answering these five questions, you should have the upmost confidence that your choice of budgeting and forecasting solution will perfectly fit your company’s unique needs.

Features:-

• Actuals, budget, and forecast integrated into one solution
• Robust, auditable planning framework
• Control and manage data entry, capturing commentary to set context
• Real-time review and consolidation
• Transparency of data submissions and status

Benefits:-

• Improves credibility of the budget.
• Provides clarity of where the risk lies in the forecast
• Reduces time and cost devoted to running the forecasting process
• Bridges the gap between strategic targets and operational plans
• Creates better engagement with business functions and operating units
• Removes manual error and the need to consolidate Excel submission