The 12 Best Cash Flow Management Software Tools for 2024

What Is Cash Flow Management? 

Cash flow management—otherwise known as cash flow planning—is the process finance teams use to track money coming in and out of their organization. 

Cash flow reports and statements are essential for making sure business spending doesn’t exceed ongoing revenue and for determining tactics that will allow you to manage the ebbs and flows of changing market conditions. 

During economic downturns, for instance, cash flow reporting allows businesses to stay on top of market changes, ensuring they always have cash on hand to navigate the ups and downs. 

To do that effectively, your cash flow report should include three primary components: operating activities, investing activities and financing activities. Cash flow management best practices also recommend organizations use different reports for different purposes: monthly reporting (including rolling 13-month cash flow reports), future forecasting and at-a-glance analysis. The cash flow statement is, in turn, used for various financial models that help determine overall business performance. 

By properly managing cash flow, you’re able to ensure your business has enough money on hand to cover business expenses and pay any debts. And by forecasting your cash flow, you can make sure you’ll continue to have enough, cutting out expenses or pulling levers on income to ensure there will be enough cash on hand to cover the non-negotiables in the future. 

The right cash flow planning tool will help you do all of that. 

What To Look for in Cash Flow Management Software  

So what should you look for in a cash flow management software? How do you ensure you’re able to meet all of those cash flow planning demands, tracking and managing your cash inflows and outflows on a day-to-day basis so that you never find yourself short of cash? 

Here are a few things to look at: 

• Ease of use: You want a solution that’s user friendly, so that your team is able to pick it up quickly. This way, nothing gets missed while they’re figuring out a new solution. For many organizations, a native Microsoft Excel environment may help with this, giving users a familiar interface to work with. 

• Functionality: Forecasting, reporting and data visualization all help empower your team to keep on top of your cash flow in real time, allowing you to look ahead to ensure you’re able to meet all of your commitments in the future. 

• Flexibility: Whether your business uses the direct or indirect cash flow method, you’ll want a solution that has the flexibility to meet your unique business requirements, without the need for additional coding. You’ll also want a solution that allows you to change the format and layout of your financial statements as your business needs. 

• Accessible Data: To be able to understand your current and future cash flow, you’ll need access—preferably in real time—to one-time and recurring expenses, as well as past transactions and historical data to predict future cash flow needs. Integrations with accounting and operations tools and your business’s bank accounts, as well as a centralized database, can help achieve this.  

With that in mind, let’s consider 12 of the best cash flow planning software solutions on the market today, and see how each of them measures up. 

The Top Software for Cash Flow Management   

1. Vena

Vena’s cash flow planning software gives finance teams the ability to create both direct and indirect cash flow models that you can run monthly, weekly or daily. You can also bring your existing Excel models and cash flow statement generated from your P&L and balance sheet directly into Vena to support cash flow planning. 

The platform lets you plan for future scenarios and set targets, implementing central data governance and a secure database that integrates with your source systems to centralize the information you need to better understand your cash flow drivers. Ad-hoc reporting tools, best practice templates and AI-powered analytics make it easy to understand your cash inflows and outflows in real time. 

In BARC’s 2024 Planning Survey—the world’s largest survey of the corporate planning software market—Vena was the most recommended platform compared to 20 other solutions. In a ranking of the top 10 software solutions, Vena also rated highest for project length, customer satisfaction and product satisfaction while placing second in price to value and third for workflow management. 

Pros and Cons 

Pros 

• Easy to use, with a native Excel interface familiar to FP&A professionals 

• Scheduled financial reporting, gathering data from journal entries to help control planned cash flow expenditures 

• Has a centralized database and critical integrations to make data accessible 

Cons  

• There can be a learning curve at first and when setting up new models 

• Large and complex files can be slower to load 

• Some functions regarding cash flow modeling are hard to master, some users report, however the online training and instructor-led courses provide refreshers if needed 

Best For 

Vena is ideal for finance teams used to working in an Excel environment, who want a range of functionality at their fingertips, simple integrations with source systems and easy-to-use cash flow reporting and analytics tools. 

2. Datarails  

Datarails’ cash flow planning tool lets businesses consolidate bank and ERP data, to get a full view of financial data—drilling down for further analysis. Cash flow forecasting allows you to use data from your cash inflows, outflows and general ledger to ensure you have enough cash on hand. And reporting lets you see trends in your cash flow, to get a better idea of where money is being spent. 

Pros and Cons  

Pros 

• Datarails offers a user-friendly platform according to customer reviews 

• Datarails’ Flex add-in provides an Excel interface 

• Has easy-to-use reporting capabilities 

Cons  

• Not as robust as many similarly priced tools 

• Lacks database management tools  

• Has limited workflow and collaboration features 

Best For 

Datarails is good for organizations looking to prioritize cash flow forecasting, but don’t need robust collaboration, database management or workflow tools.  

3. Workday Adaptive Planning  

Workday Adaptive Planning enables and automates cash flow planning, connecting data to let finance teams immediately see the effects of changes to cash flow decision making. It also helps automate bank account management, for real-time visualization into current cash levels, in order to inform your decision making and enable forecasting. 

Pros and Cons  

Pros 

• The platform is flexible across multiple planning use cases and business needs 

• It offers structured templates and reports 

• Has integrations with Workday HCM and Core Financials 

Cons  

• It can be difficult to learn and navigate through 

• Implementation can be complicated 

• Reporting and dashboarding are limited 

Best For  

Workday Adaptive Planning is good for businesses with multiple required use cases and internal support to help users and aid in the implementation process. 

4. Planful  

Planful’s cash flow planning tool allows businesses to track their cash inflows and outflows, ensuring they have enough cash flow to support their needs. It leverages multiple data sets, empowers scenario analysis and allows you to track KPIs, while letting you adjust driver-based assumptions and connect across your P&L and balance sheet. It also empowers cash flow forecasting to let you plan for both the short and long term.    

Pros and Cons  

Pros 

• Can be used alongside Excel with the Spotlight plugin 

• Easy to customize for your business and to specific user needs 

• Data can be customized and shared 

Cons  

• Implementation can be complex and time consuming 

• Formatting reports can be complicated 

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

Best For  

Planful is best suited for larger companies focused on collaboration and looking for a solution they can customize to their needs. 

5. Prophix  

Prophix’s cash flow planning software enables cash flow projections using predictive forecasting. Real-time dashboards offer visibility into trends and liquidity ratios, with AI insights that let you look deeper at fluctuations. The platform lets teams create 13-week cash flow plans, build cash flow models and explore what-if scenarios. 

Pros and Cons  

Pros 

• Prophix’s customer support gets good reviews 

• It’s scalable to growing business requirements 

• The Microsoft 365 add-in integrates with tools like Excel and PowerPoint 

Cons  

• The user interface can be complicated for some  

• Implementation can be time consuming 

• Reporting can sometimes be slow to load 

Best For 

Prophix is good for teams looking to scale, and who want some ability to work with Excel but aren’t looking for an Excel-native experience.  

6. Anaplan  

Anaplan enables cash flow management and liquidity planning, empowering real-time scenario analysis and allowing users to forecast potential cash flow scenarios. The platform’s HyperBlock technology also allows teams to model cash flow at a granular level, importing accounts receivable and accounts payable data as well as historical actuals and budget forecasts, for more accurate decision making around cash inflows and outflows. 

Pros and Cons  

Pros 

• Anaplan has flexible and complex modeling capabilities  

• The platform offers customizations in order to meet businesses’ needs 

• You can assign different levels of access 

Cons  

• The software can be sluggish when processing large data sets 

• Because of its architecture, some relatively simple tasks in Excel are much harder to accomplish in Anaplan 

• The price can be prohibitive for some 

Best For  

Anaplan is best for large organizations with a bigger technology budget and IT teams to support it, looking to spread use across a large team with different levels of access. 

7. Cube  

Cube’s cash flow management software helps teams consolidate data, connecting various sources so that you can get better insights. Audit controls help keep errors to a minimum while custom reporting and dashboarding options make it easier to share insights and collaborate. Cube allows teams to generate cash flow statements, collaborate with stakeholders on cash flow planning and reporting and forecast into future cash flows for better decision making.    

Pros and Cons  

Pros 

• The platform is flexible across multiple use cases, financial and operational 

• It’s compatible with both Excel and Google Sheets 

• The customer support team gets good reviews 

Cons  

• Implementation can be time-consuming, as there is no in-depth training 

• It’s cumbersome for larger teams trying to load data at the same time 

• Data visualization capabilities are limited  

Best For  

Cube is a good fit for businesses looking to collaborate across small teams in an Excel or Google Sheets friendly environment. 

8. OneStream  

An enterprise finance management platform, OneStream’s cash flow planning tool enables cash flow forecasting and allows teams to consolidate capital planning and people planning solutions for a fuller picture. Organizations can take advantage of AI and analytics functionality, consolidating data from across multiple sources, while an Excel add-in allows for some consolidation of Excel spreadsheets and workbooks.  

In BARC’s 2024 Planning Survey, OneStream ranked second for product satisfaction, customer satisfaction and workflow, but fourth for price to value and eighth for project length. 

Pros and Cons 

Pros 

• The tool offers a range of customization options to meet specific business needs 

• Has a growing marketplace that allows users to add additional capabilities to their OneStream instance 

• Customers have positive reviews for the implementation process 

Cons  

• There’s a learning curve for some aspects of the software, including extendable dimensionality  

• The solution can be sluggish when multiple people are working on it at the same time 

• Doesn't have a lot of documentation available, users report 

Best For  

OneStream is good for businesses looking to implement a solution across financial and operational planning use cases. 

9. Oracle NetSuite Planning and Budgeting  

Oracle NetSuite Planning and Budgeting helps teams with budgeting and forecasting, enabling scenario planning and modeling while automating many of the manual processes involved in cash flow planning. It helps empower decision making by consolidating data and enabling data visualization and collaboration.  

Pros and Cons 

Pros 

• It integrates easily with other Oracle solutions 

• The platform is easy to use, according to reviews 

• It’s scalable across business needs 

Cons  

• It may require some IT involvement  

• Some customers find the user interface clunky 

• Reporting can be time consuming 

Best For 

Oracle NetSuite Planning and Budgeting is good for businesses already using Oracle in other areas of the organization or looking to scale into other use cases in the future.  

10. Jedox  

Jedox’s cash flow management software helps teams connect to real-time data and external drivers, enabling automation, predictive forecasting and scenario planning to help improve decision making. The platform offers cash flow mapping—integrating data from across sources to automatically build the cash flow statement—as well as cash flow planning, cash flow reporting and CapEx and OpEx management.  

Pros and Cons  

Pros 

• Can handle large datasets  

• Offers a central database and flexible use cases 

• Customer support gets good customer reviews 

Cons  

• There can be a learning curve for new users 

• Can be cost prohibitive for smaller businesses 

• Implementations can be complex and time consuming 

Best For  

Jedox is good for businesses who have support in house for implementation and training and want a solution that supports large amounts of data. 

11. Centage  

Centage offers cash flow management and forecasting functionality, with a formula-free drag-and-drop interface that’s good for teams wanting to move away from an Excel interface. It integrates with general ledger and ERP solutions, and allows data to be imported from Excel and shared via Excel. Dashboarding and predictive planning are also available. 

Pros and Cons 

Pros 

• Centage is a cost-effective solution for most businesses 

• Their customer service gets good reviews 

• It offers comprehensive security and compliance 

Cons  

• There can be a learning curve for new users 

• It can be slow processing data, for example moving actual data into Centage 

• Integrations can be challenging 

Best For 

Centage is ideal for businesses who don’t want to work in an Excel format, but want a drag-and-drop, formula-free solution instead. 

12. Pigment

Pigment’s integrated business planning platform offers automation and data visualization capabilities, with modeling and forecasting functionality as well. It connects financial statements for a real-time view of your cash flow inflows and outflows, integrating source systems and automating data imports. Integrations connect Pigment to your ERP and accounting systems, as well as other tools, with a connector for Excel as well. Custom dashboards can be used to help share information with the rest of the business. 

Pros and Cons  

Pros 

• Pigment supports a broad number of financial planning use cases 

• It offers extensive integrations  

• The customer support team gets good reviews 

Cons  

• The learning curve can be steep for new users  

• It can be slow processing big data sets 

• Some users find the interface clunky 

Best For  

Pigment is good for teams looking to extend their usage of a planning platform across use cases and want a flexible system to help enable that.  

Choosing the Right Software for Your Business  

With so many cash flow planning tools available on the market, it may seem daunting to choose the right solution for your business needs.  

But to start your search, consider who will be using your cash flow planning tool. The types of users your solution caters to will dictate the features you search for. 

Users at every level of your FP&A and accounting teams will probably need to be able to access and engage with your cash flow management solution. What are their skill levels and what type of functionality do they need? And what about your executive team? They may also have a stake in the insights you glean—and for them, reporting and data visualization may be more critical than anything else.  

By identifying your business’ core needs, users’ priorities and the functionality that will best empower your organization’s specific cash flow management processes, you can begin to narrow down the options—creating a short list of platforms that will suit your business requirements. From there, you can see for yourself which is the best fit, demoing the solutions on your short list to get a better idea of which is the ideal choice. 

We hope this breakdown of the best cash flow planning software gives you a good place to start. 

Want to see Vena in action? Request a demo today.