Financial management encompasses different processes that are an essential part of the everyday life of businesses and FP&A teams. Among those processes is financial planning.In this field, a financial planning software for SMBs plays a pivotal role in streamlining and enhancing the planning process.
By leveraging technology, these software tools empower businesses to optimize the utilization of financial resources and ensure long-term financial security by offering budgeting, forecasting, and performance tracking tools, thus empowering SMBs to make informed decisions and drive growth.
Overall, implementing financial planning software is a strategic process that empowers organizations and FP&A teams to take control of their finances, make informed decisions, and work towards achieving their financial objectives. In this post, we are going to focus on financial planning software for SMBs.
The market size of financial planning software was $3.7 billion in 2021. It is projected to experience substantial growth and reach $16.9 billion by 2031, with a compound annual growth rate (CAGR) of 16.6% from 2022 to 2031.
Recently, businesses have invested heavily in advanced technologies like AI, robotic process automation, to enhance customer experience, improve financial performance, and boost operational efficiency. AI adoption boosts productivity by 27–133%, with SMBs reporting median annual savings of $7,500 and 25% saving over $20,000.
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Why is Financial Planning so Important?
Financial planning is essential for businesses because it provides a structured framework for setting goals, guiding decisions, and ensuring strategic direction.
By establishing clear financial objectives, companies can allocate resources more effectively. This process involves assessing available resources and optimizing their use to support various business activities.
Financial planning also includes creating budgets and forecasting future scenarios. These steps help businesses anticipate income and expenses, plan for cash flow needs, and identify potential risks and opportunities. Through risk analysis and scenario modeling, organizations can manage financial risks, develop contingency plans, and make informed decisions.
Additionally, financial planning enables businesses to evaluate performance, track key performance indicators (KPIs), and identify areas for improvement. It plays a vital role in determining capital needs, evaluating investment options, and assessing financial viability. Transparent financial planning also fosters trust and confidence among stakeholders.
In summary, comprehensive financial planning enhances financial stability, profitability, and long-term business success.
What is a Business Financial Planning Software?
Business financial planning software is designed to help organizations manage, analyze, and optimize their financial processes. These tools support budgeting, forecasting, scenario modeling, and reporting for a range of users.
According to Intandem, 79% of SMBs use two or more financial tools, and 13% juggle five or more. This creates data fragmentation and integration challenges.
Financial planning software can be tailored for different users:
Individuals: User-friendly tools for tracking retirement, investments, and savings goals. Many offer free versions to encourage upgrades.
Financial advisors: Advanced solutions for tax planning, social security, and liability management, serving both individuals and businesses.
Businesses (SMBs & enterprises): Platforms that require multiple integrations and automation to consolidate data from various sources.
While Excel remains a go-to solution for financial modeling, it has limitations. Dedicated financial planning software offers real-time updates, serves as a single source of truth, and ensures accurate, reliable information for decision-making. These advantages can significantly improve financial planning outcomes for companies.
Why do You Need a Financial Planning Tool and What are the Benefits?
Financial planning software programs for businesses are designed to help manage and analyze financial information, forecast future scenarios, and create actionable financial plans. These solutions are often referred to as FP&A (Financial Planning and Analysis) software.
They offer a range of features to support informed decision-making and optimize financial performance. By streamlining processes and providing robust, flexible solutions, these tools help finance teams adapt to changing business needs.
Key benefits of financial planning software include:
Centralized management and analysis of financial data
Improved accuracy in forecasting and budgeting
Faster, data-driven decision-making
Automated reporting and reduced manual effort
Enhanced financial control and risk management
Transparent communication with stakeholders
For a deeper dive into financial planning and analysis, explore our comprehensive guide on what is FP&A.
How to Choose the Best Financial Planning Software
Selecting the right financial planning software requires careful research and consideration of your organization’s unique needs.
Begin by creating a list of potential vendors. Platforms like G2 and Capterra are excellent starting points for gathering customer reviews and comparing options. Once you have a shortlist of 5–10 vendors, schedule demos and narrow your choices to the top 2–3 that best fit your requirements.
Consider the following factors when evaluating financial planning software:
Review features and benefits
Start by evaluating the features and benefits of each solution. Make sure the platform aligns with your financial needs and objectives.
Look for functionalities such as budgeting tools, forecasting capabilities, investment analysis, and robust reporting. Comprehensive support for your planning efforts is essential.
Determine price point and available budget
Set a clear budget for your investment in financial planning software. Compare both upfront costs and ongoing subscription fees across different vendors.
Understanding the total cost of ownership helps you avoid surprises and ensures the solution fits your financial constraints.
View customer history and reviews
Research the reputation of each provider by reading customer testimonials, case studies, and online reviews.
Look for consistent feedback on reliability, support, and ease of use to gauge the vendor’s track record.
Prioritize privacy & security
Data security is critical when selecting financial planning software. Ensure the provider follows industry-standard security protocols and compliance regulations.
Ask about encryption, access controls, and audit trails to protect your sensitive financial information.
How FP&A Tools Integrate with Accounting Softwares like QuickBooks
Seamless data integration is a key feature of modern FP&A software. These platforms act as a central hub, pulling information from ERPs, CRMs, HRIS, and especially accounting software like QuickBooks or Xero.
This integration ensures that actuals are automatically synced with your financial plans, providing a real-time view of performance and reducing manual data entry.
Common integration methods
There are two primary methods for integrating FP&A tools with accounting software:
API integration: Direct communication between applications, allowing FP&A platforms to automatically pull data from QuickBooks and keep information current.
Native connectors: Pre-built integrations for popular accounting systems, offering easy setup and reliable two-way data sync without custom development.
These integration methods create a single source of truth for financial data, enabling finance teams to focus on strategic analysis rather than data collection.
Best 10 Financial Planning Software tools in The Market
The following planning tools offer varying degrees of complexity, scalability, and pricing options, allowing businesses to choose the one that best fits their needs and budget. Implementing the right financial planning software tool can greatly enhance a mid-sized business’s ability to effectively manage its finances, make informed decisions, and achieve its growth objectives.
In our breakdown of the best financial planning tools, we include pricing, differentiation features, and our expert opinion on each, making it easy for every FP&A team to make the best buying decision.
1. Abacum
Abacum empowers finance teams with faster scenario analyses, automated budgeting workflows, streamlined leadership approvals, and effective consolidation of bottom-up and top-down forecasts. By providing rapid access to insights and enhanced analytics, Abacum automates essential budgeting processes and delivers tangible value to users.
G2 rating (July 2025): 4.8/5 (See all our G2 reviews)
Key features:
What-if analyses
Vendor-level budgeting
Reporting templates
Budget approvals
Collaboration functionalities
Top features include:
Granular modeling capabilities for detailed financial analysis
Effortless complex scenario planning with multifaceted assumptions
Automated data consolidation from diverse sources
Customizable dashboards for easy visualization
Collaboration with non-finance stakeholders
Streamlined implementation with dedicated support
Flexible integrations with popular applications
Native Excel and Google Sheets compatibility
Real-time forecasts with current data
Customized planning templates
Exceptional UX and UI for high adoption
Multi-currency support
User-based controls for security and integrity
Centralized formulas and KPIs
Detailed drilldown and audit trail
Comprehensive financial planning from budgeting to scenario analysis
Robust security measures including encryption and compliance
Advanced features for automation and data reconciliation
Our Solutions Consultant, Nirv, walks you through all these features in a 4-minute video:
Access to real-time data: Abacum ensures agile decision-making and proactive financial management for a competitive edge.
Who is this tool for: FP&A managers at mid-market startups and scaleups needing a robust, flexible planning solution.
Pros: Automated budgeting, seamless integrations, flexible scenario planning, intuitive UI.
Cons: Implementation costs, learning curve for advanced features.
Support options: Dedicated support team, academy resources, and regular feature updates.
Bottom line: An all-in-one solution for SMBs seeking powerful automation and real-time financial insights.
2. Microsoft Dynamics
Microsoft Dynamics is primarily an accounting and CRM solution, but its finance module adds real-time visibility, seamless integrations, and advanced forecasting for effective oversight.
G2 / Capterra ratings (July 2025): 4/5 / 4.4/5
Key features: Flexible budgeting scenarios, automated calculations, real-time updates.
Who is this tool for: Mid-market customers already using Microsoft Dynamics as their ERP.
Pros: Real-time visibility, integrated with Microsoft ERP, advanced forecasting.
Cons: Steep learning curve, best for existing Dynamics users.
Support options: Strong documentation and support team, though complexity may require ongoing assistance.
Bottom line: A well-rounded finance module for those committed to the Microsoft ecosystem.
How does Abacum compare with Microsoft Dynamics:
Comparison table | Abacum | Microsoft Dynamics |
|---|---|---|
Data integrations | ERPs, CRMs, HRIS, BI tools, etc. | ERPs, CRMs, HRIS, BI tools, etc. |
Forecasting/modeling | ✓ | ✓ |
Scenario planning | ✓ | ✓ |
Financial/operational data consolidation | ✓ | ✓ |
In-house Implementation | ✓ | X |
Operating expense planning | ✓ | X |
Headcount planning | ✓ | X |
Financial reporting | ✓ | ✓ |
Collaboration | ✓ | X |
3. Workday Adaptive Planning
Workday Adaptive Planning enables agile decisions through robust modeling and analytics in a user-friendly, cloud-based app.
G2 / Capterra ratings (July 2025): 4.3/5 / 4.5/5
Key features: Multiple dimension modeling, OfficeConnect integration, version control, formula validation, and cash-flow-based planning.
Who is this tool for: Large enterprises (700+ employees) needing robust systems for large data volumes.
Pros: Deep modeling, enterprise features, real-time collaboration.
Cons: Learning resources could improve, may be overkill for smaller teams.
Support options: Learning resources and solid support, though responsiveness may vary.
Bottom line: Great for large enterprises seeking extensive modeling and planning features.
How does Abacum compare with Workday Adaptive Planning:
Comparison table | Abacum | Workday Adaptive Planning |
|---|---|---|
Data integrations | ERPs, CRMs, HRIS, BI tools, etc. | ERPs, CRMs, HRIS, BI tools, etc. |
Forecasting/modeling | ✓ | ✓ |
Scenario planning | ✓ | ✓ |
Financial/operational data consolidation | ✓ | ✓ |
In-house Implementation | ✓ | X |
Operating expense planning | ✓ | ✓ |
Headcount planning | ✓ | ✓ |
Financial reporting | ✓ | ✓ |
Collaboration | ✓ | ✓ |
4. Anaplan
Anaplan is a dynamic platform for data-driven decision-making, enabling businesses to adapt quickly to market changes.
G2 / Capterra ratings (September 2023): 4.6/5 / 4.5/5
Key features: Powerful calculation engine, granular planning, real-time collaboration, extensive modeling and simulation.
Who is this tool for: Large enterprises (>1000 employees) managing complex, interconnected planning processes.
Pros: Complex modeling, real-time collaboration, handles massive datasets.
Cons: High cost, steep learning curve, may exceed smaller orgs’ needs.
Support options: Often relies on third-party consultants; active community support.
Bottom line: Top-tier for enterprises needing large-scale data modeling and advanced planning.
How does Abacum compare with Anaplan:
Comparison table | Abacum | Anaplan |
|---|---|---|
Data integrations | ERPs, CRMs, HRIS, BI tools, etc. | ERPs, CRMs, HRIS, BI tools, etc. |
Forecasting/modeling | ✓ | ✓ |
Scenario planning | ✓ | ✓ |
Financial/operational data consolidation | ✓ | ✓ |
In-house Implementation | ✓ | X |
Operating expense planning | ✓ | ✓ |
Headcount planning | ✓ | ✓ |
Financial reporting | ✓ | ✓ |
Collaboration | ✓ | X |
5. NetSuite Planning and Budgeting
NetSuite Planning and Budgeting streamlines finance operations by automating planning, budgeting, and forecasting.
G2 / Capterra ratings (September 2023): 4.0/5 / 4.1/5
Key features: ERP integration, customizable reports, what-if scenario modeling.
Who is this tool for: Businesses already using NetSuite ERP.
Pros: Deep ERP integration, flexible reporting, reduces manual work.
Cons: Extra cost for non-NetSuite users, challenging for new users.
Support options: Extensive resource center, strong customer service, training materials.
Bottom line: Efficient for NetSuite users needing integrated planning and budgeting.
How does Abacum compare with NetSuite:
Comparison table | Abacum | NetSuite Planning and Budgeting |
|---|---|---|
Data integrations | ERPs, CRMs, HRIS, BI tools, etc. | X |
Forecasting/modeling | ✓ | ✓ |
Scenario planning | ✓ | ✓ |
Financial/operational data consolidation | ✓ | ✓ |
In-house Implementation | ✓ | X |
Operating expense planning | ✓ | ✓ |
Headcount planning | ✓ | ✓ |
Financial reporting | ✓ | ✓ |
Collaboration | ✓ | X |
6. Datarails
Datarails is a comprehensive FP&A platform that automates financial reporting and planning, leveraging familiar Excel spreadsheets.
G2 / Capterra ratings (September 2023): 4.7/5 / 4.8/5
Key features: Reporting and forecasting templates, data collaboration, version control, audit trail, Excel analysis.
Who is this tool for: Smaller SMBs and fractional CFOs who prefer Excel but need automation.
Pros: Retains Excel interface, strong version control, built-in automation.
Cons: Limited scalability, reliant on Excel skills.
Support options: Academy resources and responsive customer support.
Bottom line: Excellent for smaller businesses or finance pros who rely on Excel.
How does Abacum compare with Datarails:
Comparison table | Abacum | Datarails |
|---|---|---|
Data integrations | ERPs, CRMs, HRIS, BI tools, etc. | ERPs, CRMs, HRIS, BI tools, etc. |
Forecasting/modeling | ✓ | ✓ |
Scenario planning | ✓ | ✓ |
Financial/operational data consolidation | ✓ | ✓ |
In-house Implementation | ✓ | ✓ |
Operating expense planning | ✓ | ✓ |
Headcount planning | ✓ | X |
Financial reporting | ✓ | ✓ |
Collaboration | ✓ | ✓ |
7. Xero
Xero is a user-friendly accounting software that simplifies financial tasks and integrates with banks for AI-powered reconciliation.
G2 / Capterra ratings (September 2023): 4.3/5 / 4.4/5
Key features: Bill payments, expense claims, bank connections, payment acceptance, project tracking, fixed asset management.
Who is this tool for: Small and mid-market businesses seeking more than basic accounting.
Pros: Easy interface, reliable bank feeds, wide integrations.
Cons: Slower customer support, limited advanced features.
Support options: Guides, courses, robust knowledge articles.
Bottom line: Great next step for small businesses needing flexibility.
How does Abacum compare with Xero:
Comparison table | Abacum | Xero |
|---|---|---|
Data integrations | ERPs, CRMs, HRIS, BI tools, etc. | X |
Forecasting/modeling | ✓ | ✓ |
Scenario planning | ✓ | X |
Financial/operational data consolidation | ✓ | X |
In-house Implementation | ✓ | X |
Operating expense planning | ✓ | X |
Headcount planning | ✓ | X |
Financial reporting | ✓ | ✓ |
Collaboration | ✓ | X |
8. QuickBooks Online
QuickBooks Online is a cloud-based accounting software with features for budgeting, forecasting, expense tracking, invoicing, and reporting.
G2 / Capterra ratings (September 2023): 4.0/5 / 4.3/5
Key features: Planning tool for scenario setup, variance tracking, and performance insights.
Who is this tool for: Small businesses and self-employed professionals seeking an affordable suite.
Pros: Simple interface, cost-effective, well-known with plenty of guides.
Cons: May lack advanced features, occasional syncing issues.
Support options: Thorough support page and training, responsiveness varies.
Bottom line: Solid for smaller organizations needing accessible, all-in-one accounting.
How does Abacum compare with QuickBooks Online:
Comparison table | Abacum | QuickBooks Online |
|---|---|---|
Data integrations | ERPs, CRMs, HRIS, BI tools, etc. | X |
Forecasting/modeling | ✓ | ✓ |
Scenario planning | ✓ | ✓ |
Financial/operational data consolidation | ✓ | ✓ |
In-house Implementation | ✓ | X |
Operating expense planning | ✓ | ✓ |
Headcount planning | ✓ | ✓ |
Financial reporting | ✓ | ✓ |
Collaboration | ✓ | X |
9. Jedox
Jedox is a dynamic planning and performance management platform for organizations seeking to exceed expectations with their plans.
G2 / Capterra ratings (September 2023): 4.3/5 / 4.4/5
Key features: User permissions, robust ETL, code automation, Excel add-in.
Who is this tool for: Finance teams in larger enterprises needing a customizable environment.
Pros: Robust customization, Excel add-in, strong ETL, code-based automation.
Cons: Too complex for smaller teams, significant setup required.
Support options: Academy, videos, training centers, direct support.
Bottom line: Ideal for enterprises seeking customizable, code-friendly solutions.
How does Abacum compare with Jedox:
Comparison table | Abacum | Jedox |
|---|---|---|
Data integrations | ERPs, CRMs, HRIS, BI tools, etc. | ERPs, CRMs, HRIS, BI tools, etc. |
Forecasting/modeling | ✓ | ✓ |
Scenario planning | ✓ | ✓ |
Financial/operational data consolidation | ✓ | ✓ |
In-house Implementation | ✓ | ✓ |
Operating expense planning | ✓ | ✓ |
Headcount planning | ✓ | ✓ |
Financial reporting | ✓ | ✓ |
Collaboration | ✓ | ✓ |
10. OneStream
OneStream is an intelligent finance platform that streamlines corporate performance management, including planning, consolidation, reporting, and analytics.
G2 / Capterra ratings (September 2023): 4.6/5 / 4.8/5
Key features: Consolidations, expanded reporting, account reconciliations, customizable dashboards, automation, report books.
Who is this tool for: Enterprises ready to unify multiple finance workflows.
Pros: Comprehensive CPM suite, strong consolidation, customizable dashboards, robust automation.
Cons: Lengthy implementation, best for larger companies.
Support options: Support portal, FAQs, documentation, community board.
Bottom line: Strong contender for enterprises needing an all-in-one CPM platform.
How does Abacum compare with OneStream:
Comparison table | Abacum | OneStream |
|---|---|---|
Data integrations | ERPs, CRMs, HRIS, BI tools, etc. | Limited integrations with third-party software |
Forecasting/modeling | ✓ | ✓ |
Scenario planning | ✓ | ✓ |
Financial/operational data consolidation | ✓ | ✓ |
In-house Implementation | ✓ | X |
Operating expense planning | ✓ | ✓ |
Headcount planning | ✓ | ✓ |
Financial reporting | ✓ | ✓ |
Collaboration | ✓ | X |
Conclusion: Elevate your financial planning with Abacum
Abacum is your comprehensive financial planning platform designed to automate workflows and provide real-time insights so you can spend more time on strategic planning.
It’s a complete solution for mid-sized companies, transforming how you plan, forecast, and strategize.
If you’re uncertain about which financial planning tool fits your business, Abacum is a top choice. It’s the leading planning software for mid-market companies across diverse industries.
Here are the main reasons why you’ll appreciate Abacum for financial planning:
Streamlined Implementation: Abacum’s team offers constant support to ensure you wrap up planning on time.
User-Friendly Experience: Simple workflows that even non-finance folks can use.
Integrated Financial Planning: Data integrations save you from manual data consolidation.
Real-time Forecasts: Always keeps your forecasts current.
Customized Planning Templates: Offers intuitive ways to design your financial plans.
Exceptional UX and UI: Smooth interface that drives organization-wide adoption.
Advanced Features: Automates data wrangling, integrates with diverse sources, and reconciles seamlessly.
