A common misconception is that AI will take over certain jobs. However, the reality is closer to saying that AI is a powerful new tool that enhances how people work, especially in finance. Here’s how AI budgeting tools can make a significant difference in your company’s financial health:
When it comes to budgeting your company’s finances, having the right budgeting software can make all the difference. Below, we’ve compiled a list of the best AI budgeting tools to help you keep track of your expenses, make informed financial decisions, and plan for the future.
Cube is the best FP&A software tool for budgeting, especially for growing businesses and enterprises. The cloud-based FP&A software uses powerful AI to analyze financial data, generate detailed what-if scenarios, and predict the financial impact of different strategic decisions.
By adjusting variables such as revenue, expenses, or hiring plans, users can see how these changes would affect their financial outcomes to make more informed decisions. It helps companies hit their numbers–without having to sacrifice their spreadsheets.
Customers love the ease of implementation, responsive customer support, and vast amount of time saved from daily financial operations.
Best for: AI-powered FP&A
Features:
Datarails FP&A Genius is an AI-powered extension of the Datarails FP&A platform designed for financial planning, reporting, and analysis processes. It leverages conversational AI to automate data consolidation, generate real-time insights, and facilitate scenario modeling in Excel.
Best for: Conversational AI for data consolidation
Features:
Pricing: Datarails FP&A Genius pricing is not publicly available.
Mosaic Tech is an FP&A platform that uses AI to enhance financial planning, budgeting, and analysis. The platform’s ARC (Augmented Reality Collaboration) AI capability allows finance teams to automatically summarize data trends and create budgeting scenarios. Mosaic integrates with ERP, CRM, and HRIS systems.
Best for: Data summarization
Features:
Pricing: Mosaic Tech offers three plans, however, pricing is not publicly available.
Booke.ai is an AI-driven platform that automates bookkeeping processes for businesses and accounting firms. It can integrate with existing accounting software like Xero and QuickBooks. Booke.ai uses the AI-driven Robotic Bookkeeper to automate categorization and reconciliation.
Best for: Automated bookkeeping
Features:
Pricing:
Gusto is a cloud-based platform designed to handle payroll, benefits, and HR management for businesses. Beyond its core features, Gusto offers AI-driven tools, including a custom AI report generator that can inform budget decisions for payroll and HR.
Best for: AI-powered payroll reports to support budgeting needs
Features:
Pricing:
Xero is an accounting software that uses AI to help small businesses manage their financial operations. It features automated bank feeds, invoicing, and expense tracking. Xero’s AI-powered Analytics Plus allows users to create budgets by predicting future cash flow.
Best for: AI-driven accounting, budgeting, and bookkeeping
Features:
Pricing:
Ramp is a spend management platform designed to handle expense management, corporate card usage, and accounts payable. Ramp uses AI to verify that invoices match POs to generate a bill and route for approval. The platform also offers a corporate card to track and monitor business spending and manage budgets.
Best for: Automated expense management
Features:
Pricing:
Planful is a cloud-based financial performance management software that supports financial planning, budgeting, and consolidation. The platform uses AI to automate processes like month-end close and scenario planning. Planful Predict is their AI tool that assists in budgeting by providing predictive insights and automated forecasting.
Best for: Machine learning for predictive insights
Features:
Pricing: Planful pricing is not publicly available.
Vena Insights is a reporting and analytics tool embedded within the Vena platform. It leverages Microsoft’s AI and machine learning technologies, including Power BI, to provide finance teams with tools for data visualization, scenario analysis, and predictive analytics.
Best for: Data visualization
Features:
Pricing: Vena pricing is not publicly available.
Jedox is a financial planning and performance management platform designed to support FP&A and integrated business planning across finance, sales, HR, and operations. The platform uses AI to model business scenarios, integrate data from multiple sources, and assist in cross-organizational planning for global teams. Jedox assists budgeting with predictive forecasting, which automatically generates forecasts based on historical data.
Best for: AI-driven modeling and planning
Features:
Pricing: Jedox pricing is not publicly available.
Anaplan is a cloud-based financial planning platform designed to support large enterprises in managing planning processes across finance, supply chain, sales, and HR. It enables real-time collaboration within their custom dashboards. Anaplan integrates AI-driven features through its PlanIQ, which assists budget forecasting accuracy with machine learning and predictive analytics.
Best for: AI-enhanced financial performance management and planning
Features:
Pricing: Anaplan pricing is not publicly available.
Learn more in this complete Anaplan review.
Workday Adaptive Planning is a cloud-based EPM software designed for financial planning, modeling, and reporting. It enables businesses to create financial models, perform scenario analysis, and generate forecasts using AI and machine learning.
Best for: AI forecasting
Features:
Pricing: Workday Adaptive Planning pricing is not publicly available.
PlanGuru is a financial planning software marketed towards small to medium-sized businesses, nonprofits, and financial advisors. The platform uses AI to assist with budgeting, forecasting, and financial analysis and allows users to project up to 10 years of financial data.
Best for: AI-powered budgeting and forecasting
Features:
Pricing: Planguru pricing is not publicly available.
Budgyt is an AI-powered budgeting platform with features like multi-department budgeting, customizable dashboards to view data, and real-time data access. It allows multiple users to work on budgets simultaneously while maintaining control over data access permissions. Budgyt can also integrate with existing accounting software like QuickBooks and Xero.
Best for: Budgeting and planning
Features:
Pricing: Budgyt offers three plans, but pricing isn’t publicly available.
It’s important to remember that AI tools are not replacing FP&A teams—they’re enhancing them. AI automates the time-consuming tasks and allows finance professionals to focus on strategy and decision-making. As AI continues to evolve, it will play an even more significant role in helping businesses stay agile and responsive to change.
Now that you know all about the best AI tools for budgeting, you’re ready to streamline your financial processes and make smarter, data-driven decisions. Say goodbye to time-consuming manual data entry and welcome faster, more accurate budget forecasting.
For those looking for the best of the best business budgeting software tools, Cube offers seamless integration with your existing spreadsheets and powerful insights to elevate your financial planning. Request a free demo today to learn how Cube can fast-track your financial processes.