Best Financial Analysis Software with comprehensive financial analysis tools to analyze your company’s accounting data accurately. This powerful module offers customizable tools to track daily, monthly, or annual transactions individually or by department, automatically calculates averages and percentages, and easily sorts data to reveal trends and expense items that exceed budgets.
Discover the most comprehensive, automated best financial analysis software. This is the most important financial software you can have in your investment toolbox. Savings potentials are huge with this one.
Anaplan
Anaplan is a FP&A platform designed to connect teams, systems, and insights, across your entire organisation.
One of Anaplan’s big draw cards is its automated processes, which enable faster, more effective planning, budgeting, and forecasting. Made to improve data management, Anaplan streamlines how users import, manage, and re-purpose common data assets across multiple applications.
Built for speed, it enables users to create interactive dashboards that can be adjusted in real-time. It’s also made for collaboration: users can link operational data with financial outcomes and share information between functions, departments, and management levels in a few simple clicks.
Be aware though that some users report that the Anaplan workflow, despite being customisable, doesn’t offer set options, making it somewhat more time consuming to use and easy to over-engineer. There have also been reports that the available visualisations in some cases aren’t as mature as other platforms.
But on the whole it’s a powerful FP&A tool, with an attached App store that provides a range of pre-configured integrations to help users get more from their experience.
IBM Planning Analytics
IBM Planning Analytics is a flexible FP&A tool that runs on any cloud architecture, and uses AI to provide a platform for users to manage and automate their planning, budgeting and forecasting. Powered by TM1, it’s a powerful engine that’s ideal for small to medium organisations.
Designed to be as easy-to-use and intuitive as possible, IBM Planning Analytics works to streamline how you gather your data and delivers it in one concise platform. Made for collaboration, it helps you streamline planning by reducing information silos and improving how you share information. And its web-based interface means you can access this FP&A tool anywhere you have an internet connection.
While some users do report a steep learning curve, the benefits far outweigh the slow start. AI-powered predictive forecasting capabilities provide more accurate and consistent forecasts for your planning, and its built-in reporting and analytics empowers you to identify, deliver, and report on the data you need, when you need it.
Workday
Workday is the leading provider of enterprise cloud applications for finance and human resources, so it’s no surprise we’re including this FP&A tool on our list.
Workday provides enterprise-wide active planning, with flexibility to plan and build modelling in real time. Powered by an intelligent, scalable, in-memory engine, this platform is designed to help organisations improve their process management, and make it easy to monitor tasks throughout the whole of the planning cycle.
It’s easy to get started, too, with a step-by-step guide that ensures even the newest user can get a handle on it. Intuitive self-service reporting allows business stakeholders and users to create, explore, and perform granular analysis of key metrics that drive the business, all within a flexible drag-and-drop interface.
Pre-built integration options allow users to take advantage of its easy-to-use interfaces, with preconfigured connectors and open APIs that enable a seamless data connection. Its automation tools make month-end a breeze.
Some users do report that it comes with more functions than is required for their business, which can cause confusion in new users. So for smaller businesses looking to grow, training is definitely recommended.
But as an enterprise-level FP&A tool, Workday’s customisable dashboards deliver rich insight when required, enabling seamless interaction with all available data across the entire organisation.
Prophix
Prophix is a piece of financial planning and analysis software designed to help corporations make more informed business decisions as they scale.
Designed for optimum security, user access can be tightly managed to ensure on the right people access the data they need.
Its powerful automation processes enable your business to streamline its workflows, making it easier and faster when managing your data consolidation, business planning, budgeting, and reporting. This also limits room for human error, providing more accurate data on demand, and in a format that makes sense to the end user.
From a user perspective, it’s designed to be as instinctive to use as possible, with an interface that mimics the look and feel of a regular Excel spreadsheet—but with far more capabilities.
So if you’re looking for an FP&A software that delivers a better format than Excel, this may not be the platform for you. Also, while it’s highly customisable, some users report that creating and updating individual templates can be time-consuming, and that it takes a large time investment in training and implementation.
But if you’re looking for a FP&A tool that users at all levels ostensibly already understand how to navigate, Prophix may be the right FP&A platform for your organisation.
Quicken
Having been around for several decades, Quicken is one of the most established personal finance software on the market. You can use the software to manage various aspects of your financial life from budget creation to debt tracking, savings goals, and even investment coaching. The software features Excel exporting, which allows you to manipulate and perform additional calculations on your data. One of the more advanced features includes bill paying, which allows you to set up payments for your bills right from the software. You can even use it to track the value of your assets to have an accurate calculation of your total net worth. The app is robust enough to manage both your personal and business expenses and even handles property management functions like rental payments from tenants. The software starts at $35.99 per year and is available for Windows, MacOS, iOS, and Android.
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Rating: 4/5
Price: Free
This financial analyzing software requires you to input whatever data you have into the online tables. When it is done, the software analyzes the details and based on it, you get a detailed analytical report which will give you the company’s financial condition. You can even input text notes in addition to numerical data.
Conclusion
The Best Analysis Software for financial professionals is the premier solution for building detailed financial models, analyzing data, and reporting on business results. It provides a detailed analysis of your company’s performance & profitability, improving efficiency & decision making.