The 13 Best Budgeting Software Tools for Small Businesses in 2024

But before we dive into the pros and cons of each solution, why is streamlining your budgeting process important to begin with? 

Why Does a Streamlined Budgeting Process Matter for Small Businesses? 

By definition, small businesses have to do more with less—and that extends into their financial processes as well. More efficient processes can help you maximize the value of a smaller finance team.  

“You need to find ways to help your business think differently about how you're doing things,” Vena CFO Melissa Howatson said in 2024 Annual Budget Planning, a recent episode of her podcast, The CFO Show. 

And in today’s environment of uncertainty—where so many teams are spread thin, no matter the size of your business—that added efficiency is especially important. After all, a streamlined, more efficient budgeting process will help you get your budgeting done faster and let you execute your plans more quickly. But a more streamlined budgeting process can also free up time for other, more strategic tasks—something businesses of all sizes can benefit from.  

For instance, it may allow you to forecast more frequently—a bonus in today’s market, Harjot Ghai, Co-Founder and COO of Delbridge Solutions, explained on The CFO Show. “By doing a better forecast, a more accurate forecast, they can see how the company is performing, how the market is performing, and make decisions better in terms of the future,” he said. 

Having the right budgeting software in place will help enable all of that.  

What To Look For in Budgeting Software as a Small Business 

But wait. Your finance team is probably already using an enterprise resource planning (ERP) solution or accounting system. So why do you even need another piece of technology for your budgeting or planning cycle? 

An ERP or accounting system only goes so far. For an effective budgeting process now and as your business grows, you need something that allows you to easily collect inputs from across various department owners, consolidate data from a multitude of sources and leverage your budget to empower forecasting, scenario modeling and even more detailed operational planning. 

So what should you be looking for in a budgeting solution? Here’s a list of questions to ask as you search out the right software for your needs: 

• Is it easy to use, even for the most non-technical users on your team? 

• Can it be implemented and put to use without heavy IT involvement? 

• Will it be able to scale along with your business? 

• Will you be able to get the system up and running quickly? 

Depending on the needs of your finance team, you may also want to look for a software that offers pre-built templates (especially if they can cater to the unique needs of your industry) and workflow automations that will help you eliminate manual tasks. 

A central database is also a must-have, to create a single source of truth for all your budgeting and broader FP&A processes, with the ability to audit, track and view adjustments along the way. 

With that in mind, let’s look at 13 of the best budgeting software solutions on the market right now.  

An overview of the workflow manager in Vena, which allows you to build out automated workflows to support your budgeting processes.

Vena uses a native Excel interface, making it easy for you to collect input from budget contributors, as they already know how to use Excel.

Pricing 

Two pricing plans are available: the Professional plan and the more comprehensive Complete plan. Check out our Business Value Calculator to calculate the value you can achieve through Vena.  

Pros and Cons  

Pros 

• The native-Excel user interface makes it easy to use, with minimal learning curve for new users 

• Vena can scale alongside your business, supporting the full scope of your financial and operational planning needs, including budgeting and forecasting, financial reporting, workforce planning and financial close management  

• A central database ensures data from all your source systems can be accessed easily, cutting down time spent searching between your various systems and aggregating that data manually 

Cons  

• Currently does not support Google Sheets 

• Can be costly for some small businesses 

• Cannot currently automatically schedule data refresh in sandbox environment 

Best For   

Vena is ideal for companies that want to continue to work in an Excel environment and want a solution that’s flexible across use cases, promising to scale as their business grows and needs evolve.  

2. Datarails 

A financial planning and analysis platform, Datarails automates data consolidation and reporting. It offers data visualization capabilities and enables financial reporting, forecasting and budgeting.  

Datarails features a central relational database and Flex add-in that lets you connect with Microsoft Excel 2010 and higher, to take advantage of Excel’s strengths for budget input collection. It’s worth noting, however, that to share templates with budget contributors you must create split Excel files for each department. 

Datarails’ FP&A Genius AI tool helps users dig through data faster, for additional insights and to predict future trends.

Pricing 

Pricing is available upon request and is customized to customers’ needs.  

Pros and Cons  

Pros 

• Easy to use, without a steep learning curve 

• Supports Google Sheets as well as Excel 

• Low subscription price options are available  

Cons 

• It can be difficult to scale as your business grows; Datarails works best as a financial reporting tool, but may limit you as your planning needs become more complex 

• Limited workflow and collaboration features 

• The relational database can add performance delays when rolling up data 

Best For 

Datarails is good for finance teams that are looking to maintain some Excel capabilities but aren’t looking to scale extensively. 

3. Prophix 

Prophix’s financial performance platform, Prophix One, provides solutions for budgeting, planning, forecasting, reporting and analysis. It helps automate workflows and data integrations and offers personalized dashboards, with a unified platform and central database.  

Prophix features pre-built connectors for CRM, ERP and HRIS systems, as well as APIs to connect business systems. Prophix does not have a native Excel interface, though it has an add-in that can connect the FP&A platform to Excel workbooks for the purposes of collecting inputs from budget contributors outside of Finance, but not for carrying out your work in Excel. 

Prophix One AI Insights also offers additional insights into your reports, providing commentary on potential trends. 

Pricing 

Prophix’s pricing differs depending on how many users, applications and integrations you require, and is available upon request. 

Pros and Cons 

Pros 

• While it doesn’t feature a native-Excel environment, Prophix offers a Microsoft 365 add-in that allows you to use it with tools like Excel and PowerPoint 

• The interface is flexible and customizable to the individual needs of your business 

• Prophix’s workflows make it easier to introduce an effective budgeting process 

Cons  

• You may require an IT specialist to help ensure the technology is being used effectively 

• The Microsoft add-in is only available with Microsoft 365 and not previous versions of Excel 

• Some customers have reported formatting limitations with Prophix’s dashboards 

Best For 

Prophix is good for growing businesses looking for scalable functionality, but that have in-house IT resources that can help assist them with their technology needs. 

4. Jedox 

A planning and performance management platform, Jedox features an “Excel-like” interface and an add-in for Excel 365. It enables scenario modeling, planning, budgeting, forecasting and analysis.  

Businesses can use Jedox to access real-time data for their P&L, balance sheet and cash flow statements. The Jedox integrator offers predefined connections to ERP, CRM, Human Capital Management (HCM) and Supply Chain Management (SCM) systems, with the ability to connect to databases, business intelligence and analytics platforms and more. 

Jedox features AI-assisted planning capabilities to explore their data more deeply, along with AI-powered search capabilities to provide tips on using the product. 

Pricing

Jedox offers three pricing packages targeted at businesses of different sizes. Pricing is available upon request.

Pros and Cons 

Pros 

• Jedox is a flexible platform with pre-built models offering options for customization 

• Offers dynamic, customizable reporting  

• Easy to integrate with other solutions via Jedox Integrator ETL (Extract, Transfer, Load) 

Cons 

• Jedox can be over-complex to implement  

• There can be a learning curve if you want take advantage of its full functionality 

• Some customers have reported slow performance (with larger data sets) and bugs 

Best For 

Jedox is good for businesses that want to move away from Excel and have the resources to ensure they have an in-house expert for implementation and to train new users. 

5. Workday Adaptive Planning 

Workday Adaptive Planning is an enterprise performance management (EPM) platform that offers capabilities for financial planning, workforce planning, operational planning and close and consolidation.  

It’s designed to enable budgeting, planning, forecasting, modeling and more, with data visualization as well as automation capabilities. AI and machine learning (ML) capabilities help you detect data anomalies, compare plans and predict demand. 

Pricing 

Workday Adaptive Planning is available in two separate packages, with prices available upon request. A 30-day free trial is also available. 

Pros and Cons 

Pros 

• Workday Adaptive Planning offers structured templates and reports 

• Has some key integrations available with Workday HCM and Core Financials 

• Offers scalable solutions across multiple use cases  

Cons 

• Can be complicated to implement and configure 

• User training is needed, as it’s not always intuitive to use  

• The cost can be prohibitive for many small businesses 

Best For 

Workday Adaptive Planning is ideal for businesses already using Workday HCM and looking for a cloud budgeting and forecasting solution they can adopt across their organization. 

6. Cube 

An FP&A platform, Cube provides real-time access to financial and operational data, empowering budgeting as well as strategic planning, scenario analysis and reporting. It offers integrations with ERP, CRM, HRIS and business intelligence solutions, and features dashboard analytics. 

Cube offers a spreadsheet environment with flexible use cases across functions, and allows teams to work across Excel, Google Sheets or the native Cube environment.  

Pricing 

Pricing is available in three separate packages, starting at USD $1,500/month.  

Pros and Cons 

Pros 

• Cube allows businesses to get up and running quickly 

• Flexible and customizable to your business needs 

• Allows teams to work in their preferred software environment, be it Excel or Google Sheets 

Cons 

• Security is limited, with no way to restrict what users can access 

• Limited data visualization makes it difficult to identify and demonstrate trends  

• Customers report that fully analyzing data at a granular level sometimes requires manually exporting data to another solution  

Best For 

Cube is a good choice for businesses that already use Google Sheets or Excel and want to add to its functionality. 

7. Planful 

 Planful’s financial performance management platform offers pre-built templates, managed workflows and enhanced collaboration. It helps enable budgeting and forecasting with access to financial data at scale, along with automation and reporting functionality.  

Largely designed for enterprise usage, Planful is scalable for small businesses, with use cases that go beyond budgeting and planning—including rolling forecasting, cash flow optimization and scenario analysis. 

Planful has AI capabilities to extend your automation efforts and provide insights and recommendations in near real time. Their product Planful Signals looks for anomalies in your data, to identify risks and outliers, while Planful Predict applies machine learning to review millions of data points in service of automating budgeting and forecasting for faster and more accurate planning. 

Pricing 

Planful’s pricing is not available publicly.  

Pros and Cons 

Pros 

• Planful makes it easy to collaborate and share data and analysis across the business 

• It’s flexible and easy to customize, allowing users to view data in different ways 

• It’s scalable, secure and compliant  

Cons  

• It requires some IT and technical support to maintain 

• The Excel add-in is limited, with no way to easily export live reports from Excel 

• The planning and reporting are disconnected: legacy database technology is combined with a different database for dynamic planning 

Best For  

Planful is well-suited for larger FP&A teams, enabling collaboration across the business.  

8. Mosaic 

A strategic finance platform, Mosaic offers real-time analytics and planning, with forecasting, modeling and scenario planning functionality, along with collaboration capabilities.  

By combining both financial and operational metrics, it facilitates planning and lets businesses build out more accurate financial models. Businesses can track their budget versus actuals and roll their plan forward automatically, while chat-based AI helps you dig deeper into the data.  

Pricing 

Mosaic offers three pricing plans, with prices available upon request.  

Pros and Cons 

Pros 

• Real-time data analytics and financial modeling make it easier to establish strong insights faster 

• Seamless integrations with accounting, CRM and HRIS software 

• Customers rate Mosaic’s customer service highly 

Cons 

• There can be a learning curve if you’re used to Excel or Google Sheets 

• Data uploads and integrations can be complex and restrictive 

• If you don’t have clean or well-organized data, integrations can be negatively affected 

Best For   

Mosaic is good for teams that want to break away from an Excel or Google Sheets environment, but still want robust modeling and analytics. 

9. Budgyt 

Budgyt’s price-conscious financial planning software offers functionality for planning, forecasting, data visualization and balance sheet and cash-flow forecasting. It allows businesses to collaborate on budgets, with transaction-level data analysis.  

Budgyt aggregates data from various source systems and allows finance professionals to drill down into more detail, with custom dashboards and formula protection. An API connector allows for imports from QuickBooks, Xero or Connectwise. 

Pricing 

Budgyt offers three pricing plans, with additional costs applied for plugin add-ons and onboarding and set-up fees.  

Pros and Cons 

Pros 

• Budgyt is easy and intuitive to use, without a steep learning curve 

• It enables remote collaboration on budgets across departments 

• An affordable price point makes it accessible for small businesses 

Cons 

• The import from QuickBooks can be slow and cumbersome 

• Integrations and reporting features are limited  

• It offers limited use cases and scalability potential beyond budgeting 

Best For  

Budgyt is good for smaller businesses with limited needs and more restrictive budgets. 

10. Centage 

Billed as a “formula-free FP&A software,” Centage—formerly Planning Maestro—steps away from the familiar Excel user interface, offering drag-and-drop automations to help businesses with budgeting and forecasting.  

Centage also enables consolidation, scenario planning, dashboards and workforce planning. It features integrations with QuickBooks, Sage, NetSuite and more. 

Pricing 

Centage offers three pricing packages, with prices available upon request.  

Pros and Cons 

Pros 

• Centage offers flexibility in the scenarios it can analyze and the types of budgets it can create 

• It provides an option for businesses looking to move away from Excel completely 

• Customers report quality customer service 

Cons  

• Customers have found some of the budgeting functionality to be limited 

• Data processing can be slow 

• It’s not as scalable for businesses that want to expand beyond budgeting  

Best For   

Centage is a best fit for businesses that want to move away from Excel completely and don’t have much need for other use cases beyond budgeting and forecasting. 

11. Sage Intacct Planning 

Sage Intacct Planning is a cloud-based planning, budgeting and forecasting software. It features automation, dashboards and reporting functionality, with scenario planning and collaboration capabilities.  

Sage Intacct Planning offers small business solutions for accounting, payroll and HR, and helps you stay on top of your cash flow, tax and reporting needs. 

Sage also recently announced Sage Copilot, an AI-powered productivity assistant with capabilities for real-time analytics, predictive budgeting and financial forecasting.

Pricing 

Sage Intacct Planning’s small business solutions start at $19/month for solopreneurs and freelancers, with two additional plans above that. 

Pros and Cons  

Pros 

• Sage Intacct Planning is customizable and easy to navigate 

• It offers specialized pricing for small businesses 

• A range of integrations are available  

Cons 

• Users report that the navigation can be clunky at times 

• Setup can be complicated and the reporting tool isn’t always intuitive to use 

• Data is not always auto-populated, adding more inefficiencies 

Best For  

Sage Intacct Planning is well-suited for small businesses that have the IT and finance resources to take on some of the setup themselves and work around some inherent inefficiencies. 

12. Oracle NetSuite Planning and Budgeting 

Oracle NetSuite Planning and Budgeting adds automations to your planning and budgeting processes, enabling forecasting, what-if scenarios and reporting. Data is synchronized with the NetSuite ERP and users are connected for easier collaboration.  Dashboards and reports help you visualize your company’s financials.  

NetSuite Planning and Budgeting also enables revenue planning, workforce planning and predictive planning—providing scalability for businesses that want to expand beyond budgeting in the future. 

Embedded AI lets businesses apply predictive algorithms to continually monitor and analyze plans, forecasts and variances—identifying trends, anomalies, correlations and biases. 

Pricing 

NetSuite is offered through an annual license fee and one-time implementation fee, with NetSuite Planning and Budgeting available as an add-on module. Pricing is available upon request. 

Pros and Cons 

Pros 

• NetSuite has a proven, user-friendly interface 

• The NetSuite Planning and Budgeting add-on module is flexible and customizable to multiple use cases 

• Provides a scalable solution that can grow with your business  

Cons 

• The pricing model can be cost-prohibitive for some small businesses 

• Reporting can be complicated and time-intensive 

• Implementation can be challenging and lengthy  

Best For 

Oracle NetSuite Planning and Budgeting is good for businesses looking to scale and that may need additional functionality in the future, especially if they are already using NetSuite as their ERP. 

13. Jirav 

Purpose-built for accounting firms, as well as small and medium-sized businesses, Jirav offers forecasting, budgeting, planning, reporting and dashboarding capabilities. It offers automation capabilities, templates and customized financial models. 

Jirav enables cash flow forecasting, scenario planning, workforce planning and monthly rolling forecasts. Their Autoforecast feature uses AI-driven logic to build forecasts from historical data and seasonal trends. 

Pricing 

Jirav offers four separate pricing packages, with prices starting at $30/month.  

Pros and Cons 

Pros 

• Jirav’s integrations are easy to navigate 

• Financial models and forecasts are easy to run  

• Customers give positive reviews for Jirav’s customer support  

Cons  

• Some users experience a learning curve navigating the product interface 

• Users report it can be difficult to export to Excel 

• Dashboards can be difficult to customize 

Best For 

Jirav is good for accounting firms, as well as businesses of up to 500 employees that don’t intend to scale past that. 

Your Partner on Your Path To Scale 

As a small business, the tools you choose are integral to the way you do business—building efficiencies into your processes and assisting your team so that you can continue to thrive and grow. The right solutions will continue to scale as you scale, helping you meet your needs even as those needs evolve. 

Choosing the best budgeting software for your small business, then, means evaluating not just your current requirements—but also looking forward to where you’re going and what you may need in the future. From there you can choose a platform that will empower your budgeting and beyond. 

With that in mind, best of luck finding the best solution for your business! 

Request a demo to find out how Vena can help empower your small business budgeting needs.