There is solid movement toward the on-demand, SaaS platform. The Microsoft SQL database structure is used extensively and the packages have added features and made incremental improvements in spite of the weak economy. Overall, the market for budgeting software is strong, and should remain that way as companies begin the long trek back toward financial health.
Adaptive Planning Version 6.5
Adaptive Planning
Mountain View, Calif.
(650) 528-7500
www.adaptiveplanning.com
Price: Starts at $600
Adaptive Planning Version 6.5
Adaptive Planning has substantially enhanced its product since Version 5, creating an on-demand application that is scalable to firms of almost every size and with a blend of economy and features that positions it well between the Excel spreadsheets and the more robust but expensive desktop solutions.
Adaptive Planning 6.5 introduces numerous features that improve usability, including enhancements to data presentation, data access, and administrative roles and permissions.
Additionally, the “Cell Explorer” feature, which allows users to analyze any cell within their financial model by drilling down into the sequence of values and formulas used to calculate the final result, is now available within the reports module. Version 6.5 also extends Adaptive Planning's integration with NetSuite’s on-demand business management suite. Adaptive Planning customers that are integrated with NetSuite, as well as NetSuite Financial Planning Module customers, can drill through from Adaptive Planning reports directly into NetSuite, where they can see the details of the underlying transactions. These users are now also able to export plan data from Adaptive Planning into NetSuite.
Adaptive Planning 6.5 also introduces new local language support, adding Chinese and Russian to the previously supported languages, which include English, French, German, Spanish, and Japanese.
The move to a stronger SaaS platform is significant in version 5.0 set the stage for this version, which substantially improves on both the flexibility and economy of the product. The result is a streamline system that is attractive to planners inside the company and their outside accounting firms.
Budget Maestro Version 5.9
Centage Corp.
Natick, Mass.
(800) 366-5111
(508) 948-0088
www.centage.com
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Price: Desktop Edition (Single User) is $3,995. The Small Business Edition (1-5 Users) is $9,995. The Enterprise Edition (multi-user, multi-location) is $15,995. The Dashboard Kit is $1,995.
Budget Maestro Version 5.9
Budget Maestro is a SQL Server database application that retains tight integration with Microsoft Excel to automatically generate precise and synchronized P&L, Balance Sheet and Cash Flow statements on-the-fly.
The application is offered in three versions: The Desktop edition is a single-user license well-suited for the accountant who does all the work to prepare the company’s budget or a small business with a centralized planning function.
The Small Business and Enterprise editions add multi-level security, multi-user support, unlimited scenarios, and user definable revenue recognition and asset depreciation scheduling (for enterprise budgeting and planning). All editions are web-enabled, permitting collaboration with clients over the Internet.
Budget Maestro is a step up from spreadsheet-based planners in its ability to draw data from the General Ledger and automatically apply its own internal calculations for business insight and analysis. This also allows for sophisticated scenario-building on the fly. Its built in business and financial logic automatically calculates any transactions needed to build P&L, Balance Sheet and Cash Flow statements as the budget is built, and to automatically compare and update actual versus budget versus forecast performance.
Budget Maestro is a strong and flexible program that is compatible with Windows System 7 and SQL Server. While it is not the least expensive solution, it is a strong choice for accountants seeking more advanced planning and forecasting capabilities than the standard budgeting fare.
Clarity 6.2
Clarity Systems Ltd.
Toronto, Ontario
(877) 410-5070
(416) 250-5500
www.claritysystems.com
Price: Varies with server and user license required, along with professional services usually needed to configure the application. Typically, above $10,000
Clarity 6.2
As enterprise-class software, Clarity 6 usually requires Clarity’s Professional Services to integrate it with OLAP and relational databases. It is designed as a budgeting and CPM (Corporate Performance Management) tool with the look and feel of Excel but interfaces with databases within the firm.
The budgeting process is familiar to Excel users who can create the format of the data entry form or report in Excel and then use the Clarity Template Builder to publish it to the Web. Clarity 6 automatically inherits all of the Excel formatting and formulas into the web form. Once the input schedules are completed, Clarity 6 melds the data with its database capabilities to provide multi-dimensionality, drill- down capability and layers of validation and control not possible in a pure spreadsheet environment.
The application 6 has embedded workflow that manages the routing of budget reviews and approvals between successive line managers. Status reporting gives the system’s administrator visibility of the progress of the entire process.
The application also supports versioning of budgets so that the organization can ‘freeze’ different snapshots of say a budget or long term plan and compare scenarios (versions) against each other or earlier budget and actual results as needed. Clarity 6 also allows alerts to be established according to user defined business rules.
Clarity 6 remains a strong planning package for the enterprise due to its web-based user interface, the combination of Microsoft Excel with advanced database capabilities, and its approach that focuses less on a static budgeting tool than on the performance of the enterprise. Powerful, customizable and scalable, it is an excellent high-end alternative to off-the-shelf planning systems.
PlanGuru Consultant, Version 11
New Horizon Software Technologies, Inc.
Santa Fe, N.M.
(888) 822-6300
www.planguru.com
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Price: $499.95 per year, with annual upgrade cost of $249.95.
PlanGuru Consultant, an accounting-centric planning and forecasting application, is designed to retain the familiar spreadsheet-and-cell structure of Excel, but with significant enhancements and features.
The Consultant Version is tailored to the needs of the accounting profession, offering expanded analysis and engagement tools. The reports comply with AICPA reporting standards. The Engagement Tools included with the Consultant edition automatically draft the accountants report, procedure checklists, and other necessities. Each line of the plan can be annotated with comments, and a left-mouse-click on any cell will bring up the calculation and assumptions used to build any number – with easy updating of either. Easy navigation of the plan using either the left-screen menu or top tabs keeps the overall plan structure clean, from input of assumptions through the final reports.
Version 11, like its predecessor, is not a major upgrade, but is required to access technical support going forward and for support for Vista and System 7. In this version, budgets and forecasts can be prepared for up to 5 years. In addition, it can budget and forecast years 1, 2, and 3 on a monthly, quarterly or annual basis. Projections can start at an interim date and add an unlimited number of companies, budgets and forecasts for any company.
The Consultant version can consolidate up to 20 budgets, projections or forecasts; create business valuations using 4 different income based valuation approaches; and has a performance measurement system that accounts for quality control, customer service and product innovation.
PlanGuru has strong features that will appeal to accountants, from the look and feel of a spreadsheet to its engagement and business analysis support. Robust, economical and made to serve accountants, it's a strong choice for small to mid-sized firms.
Microsoft Forecaster, Version 7
Microsoft Dynamics
Redmond, Wash.
(800) 379-8733
(303) 741-8000
www.microsoft.com/dynamics/en/us/products/forecaster.aspx
Price: A seat for Microsoft Forecaster is included with every Microsoft Dynamics Business Ready License. Advanced Management license starts at $1,790. Additional licenses start at $500 each. Annual maintenance fees, 16 percent of list price.
Microsoft Forecaster, Version 7
Microsoft Forecaster 7 is a budgeting and planning product aimed at the mid-market to enterprise-level company and tightly integrated with the look and feel of Excel.
It provides simplified set up and management of calculations and enhanced control to respond to changing business conditions. A new "@ rollup" functionality has been added to enable automatic recalculation of summary accounts from the input screen, eliminating the need to manually create total or subtotal calculations. Additional functionality includes the ability to define how an account is calculated (such as by sum, average, first, or last period) in the account worksheet. Improved calculation validation, real-time calculations, improved If/Then/Else functionality, and several "@" functions further simplify complex calculations, reduce setup and training time, and result in more accurate and realistic budgets.
Forecaster 7.0 allows reports to be designed in a wide range of formats, and users can add any segment to any part of a report (segments can be concatenated and any segment or time period can be used in the columns or rows) and colors, fonts, and formatting are all customizable. Enhanced printing capabilities allow users to customize the layout of the printed page, and control the order, width, and spacing of the columns on the page. These new features allow users to immediately see trends in their business, enabling them to make well-informed decisions.
Microsoft Forecaster is a stable and sophisticated program intended for companies with multiple locations, enterprise level operations and a strong need for powerful budgeting support. Meant to be an integral enhancement to the Microsoft Dynamics line of accounting products, it also provides excellent stand-alone capabilities for accountants with a strong need for client forecasting capabilities.
PROPHIX
PROPHIX Software Inc.
Mississauga Ontario
(800) 387-5915
(905) 279-8711
www.prophix.com
Price: PROPHIX Software is a multi-user system and is licensed on a named user pricing model. Annual updates and support are 20% of the license price. PROPHIX for SQL Server starts at $20,000 for a 10-user system. PROPHIX Enterprise starts at $16,000 for a 10 user system and can be installed in a client/server configuration, or standalone in a file/server mode. For 1-5 users, PROPHIX starts at $3,000 for a single user.
PROPHIX is an advanced budgeting and planning system aimed at mid-range to enterprise-level companies with a comprehensive suite that includes modules for budgeting, re-forecasting, consolidation, financial analysis /data mining, reporting, personnel planning and score-carding.
PROPHIX for SQL Server is the enterprise-strength application, and works with Microsoft solutions such as Reporting Services, Office and Share Point Services to focus on collaboration, security and consolidation of results.
In addition to PROPHIX for SQL Server, PROPHIX offers two other products aimed at the SMB space. PROPHIX Enterprise can be installed in a client/server configuration, or standalone in a file/server mode. All the budgeting, planning, process management and report writing features are complimented with personnel planning, multi-currency, scorecard and dashboard modules. For 1-5 users, PROPHIX offers PROPHIX EXPRESS a remotely configured, pre-packaged solution that comes complete with pre-built reports - including cash flow, balance sheets, and personnel planning.
The workflow manager assigns projects, activities and tasks to managers within the organization, and then allows these to be tracked graphically. Data entry templates can be associated with tasks to reduce input errors and consistency of forms. Because it includes an Online Analytical processing engine, PROPHIX for SQL Server is able to perform Ad Hoc analyses to quickly view new data in a meaningful format. The ad hoc screen also features “browser-like” navigation which allows users to quickly move backwards, forwards, first, and last views of the layout and data.
Recent enhancements to PROPHIX include offline data entry, multi-currency capabilities, a delta analysis graphical tool, the InfoFlex data manipulation toolset, and enhanced audit tracking.
PROPHIX for SQL Server has more substantial up-front costs than some other budgeting and forecasting products, but offsets this with lower total cost of ownership, primarily through reduced implementation and customization times. This version is also a strong choice for larger accounting firms, offering the flexibility and scalability useful to accountants serving clients with a strong need for analytical budgeting and forecasting.
