Budgeting Software FAQs
What is budgeting software?
Budgeting software helps organizations manage financial resources and expenses, plan for future spending, and forecast long-term financial expenses and needs. Budgeting solutions allow accurate management and analysis of financial data so companies can focus on business growth and overall financial performance.
How much does budgeting software cost?
Budgeting software is often part of accounting or planning software packages, and is rarely offered as a standalone solution. Pricing is based on the number of users, required payroll options, the number of invoices and bills needed, and more.
A small business standalone budgeting solution like Bizbudg can cost between $9 and $40 per month (depending on the number of users). Other small business budgeting options like Xero—an accounting package—range from $9 to $70 per month.
What are some common budgeting software features?
Common features include what-if modeling, collaborative budgeting, versioning, budget approvals, budget planning, and forecasting. Check out Capterra’s budgeting software directory for a comprehensive list of available budgeting software features.
What are the benefits of using budgeting software?
One of the greatest benefits associated with budgeting software is the creation of reliable forecasts. Budgeting solutions use historical financial data to predict future financial outcomes. These solutions also reduce human error caused by manual entry, safeguarding your business against budgeting and forecasting mistakes. Budgeting software solutions also increase collaboration by making it easier for employees to edit and keep track of changes and versions within a single platform, ensuring that information isn’t overlooked or altered without review.
Are there free budgeting software options?
We did not identify any free or open source budgeting software solutions, but there are low-cost options available. Check out Capterra’s budgeting software directory to learn about various solutions, filter your search by desired features, and compare products side-by-side.
- Full Budgeting Software List