Knowing how much cash you have on hand is critical.
But as your organization grows, staying on top of that number can be challenging.
That's where cash flow management software comes in. In this guide, you'll evaluate six of the best cash flow software solutions on the market.
- What is Cash Flow Management Software?
- Why Should You Use Cash Flow Management Software?
- The 6 Best Cash Flow Management Software Tools
What is Cash Flow Management Software?
Cash flow management software helps manage the past, present, and future cash flows in and out of your business.
In other words, it helps you regulate your business's financial health and regulate your cash flow control and cash position.
These solutions automatically connect Income Statement and Balance Sheet information from your accounting software and organize it into cash flow statements and reports, making it easy to uncover real-time insights into the nuances of your cash flow.
The best cashflow modeling software will also have cash flow forecasting capabilities to help you manage cash in the future.
These solutions also give you the ability to forecast cash flow into the future across multiple what-if scenarios so that you can evaluate a variety of potential outcomes simultaneously.
Why Should You Use Cash Flow Management Software?
If you’re still unsure if you should integrate a cash management solution into your business, here are some compelling benefits of doing so:
Access to Real-Time Data
The more accurate and up-to-date your cash flow data is, the better financial decisions you can make. By using cash flow software, you can be sure you always see an accurate and up-to-date view of how much cash is flowing into and out of your business.
Make Better Decisions
The better your cash flow management is, the better financial decisions you’re able to make. Knowing exactly how much cash is available can make or break some businesses. It also enables you to make decisions that can result in more revenue and better plan for the future.
A cash management system is one of the best ways to stay on top of your company's bank accounts.
Save Time and Money
As a decision-maker within an organization, saving time and money are always two things high on your list of priorities.
Integrating cash flow management software is an easy way to score quick wins by saving employee time by automating the processes involved in managing your cash flow.
Convinced that you lack good cash flow management software in your organization? As you’ll see from the 6 tools below, these benefits just scraped the surface of what good finance software is capable of.
Here’s a closer look at some of the best cash flow management tools on the market:
The 6 Best Cash Flow Management Software Tools
Cube is a next-generation FP&A platform that provides dynamic financial planning solutions. From preparing cash flows to scenario analysis and everything in between—Cube provides a robust solution to all your cash management processes in one place.
This platform is the only software to transfer data from any spreadsheet into a multi-dimensional database automatically.
All you need to do is connect all of your essential data sources to Cube, then its intelligent mapping transforms your data into a single source of truth that you can analyze, share, and derive insights from.
Key functionality Cube provides includes:
- Automated data consolidation
- Sharable planning templates
- Customizable dashboards and reports
- Scenario planning and analysis
- Bidirectional Excel and Google Sheets integration
- Approval workflow
- Drill-throughs and audit trails
- User-based controls
- Centralized formulas and KPIs
- Intuitive spreadsheet integrations with Excel and Google Sheets.
- Gain smarter, faster insights into your financial data in real-time.
- Drill down into individual transactions for an entire audit history.
- Robust user-based controls enable you to share or hide any information easily.
- Lacking some of the reporting features and visuals some other software offers.
Our pricing is entirely transparent. We have three packages:
- Essentials: $1,250 / month
- Premium: $2,450 / month
- Enterprise: $3,750 / month
View our pricing page for more details.
2. Vena Solutions
Vena Solutions is a cloud-based financial planning and cash management system that enables financial teams to handle all of their financial data better.
Used by some of the largest global brands like Nando’s, Nike, and Neovia, Vena provides a powerful suite of FP&A tools.
- Uses Excel on the front end.
- Knowledgeable support staff on-hand and online training materials.
- Flexible reporting options make it easy to analyze data.
- Cloud-based with mobile support makes it easy to access anywhere.
- Some of their tools have a steep learning curve.
- Cloud performance suffers when running large or complex reports.
Vena doesn’t provide any set monthly pricing information. They offer a 7-day preview and will give you a demo of their software to help you decide if you contact them.
Anaplan is a cloud-native cash management app that helps orchestrate better business performance.
It’s designed to help businesses of all sizes solve financial-related challenges. Using the suite of tools included in the Anaplan platform, users can streamline financial processes and better understand everything from day-to-day cash flow to complex financial solutions.
- Can link to any number of planning streams through one dashboard.
- Intuitive UX with a good deal of customizability.
- Enables analysis down to a granular level.
- Pull detailed real-time reports in just a few clicks.
- Lacking some integration capabilities such as Powerpoint and Excel connectors.
Anaplan has four different pricing plans, although they do not have any set pricing plans. You’ll need to talk with a member of their team to work out a custom plan that meets your needs.
4. Workday Adaptive Planning
This software facilitates financial planning and collaboration across an entire organization without needing spreadsheets and other manual processes.
- Robust cash flow features without the need for spreadsheets.
- Detailed audit trails enable you to track changes and satisfy audit requirements.
- Excellent reporting features.
- Scenario planning and forecasting features help visualize future cash flows.
- Adaptive logic differs from Excel logic, so the platform requires some time and training to master.
Workday Adaptive Planning does not make any pricing plans public. They offer free trials and demos of their software and will work out a custom quote if you reach out to their team.
Planful is a cloud-based financial planning and analysis platform. Used by some large organizations like the Boston Red Sox and TGI Fridays, Planful is a robust solution for cash flow analysis and continuous planning.
The platform is split into structured planning, dynamic planning, consolidation, and reporting.
These elements take you through all of the FP&A stages you need to get visibility into your financials and make informed decisions.
- Budgeting, forecasting, and cash flow analysis templates are flexible and easy to use.
- Able to handle complex reporting needs.
- Strong automation tools like scheduling, mass data syncing, and collaboration.
- Those comfortable with Excel can use a similar Excel-like interface.
- The software has a steep learning curve, and the in-platform training doesn’t cover everything.
Planful doesn’t make any pricing plan public. You’ll need to reach out to their sales team for a quote.
Centage is a cloud-based intelligent planning, budgeting, and forecasting platform. This software delivers a sophisticated financial intelligence tool that helps organizations of any size better manage their financial data.
With clear visibility of financial health and intelligent insights, Centage helps organizations make faster decisions.
This software has a robust suite of financial tools, an intuitive UI, a long list of integrations with other tools, and much more.
- Real-time data enables you to react to changes in the market quickly.
- Highly customizable, it’s easy to create your own cash flow templates.
- Future forecasts help plan for the future.
- Able to handle multiple departments and entities, and easy to consolidate data across them.
- Lacking some of the enterprise’s features that other software offers, better suited to small to medium-sized organizations.
Centage does not provide any set pricing plans. You can get a quote and see a demo of the software by reaching out to their sales team.
As you can see from the above tools, cash flow management doesn’t need to be a challenge or a chore.
By picking the right software, you can rest easy knowing that you're being shown accurate, real-time data when you look at your cash flow data.
The most intuitive FP&A and cash flow management software on the market is Cube.