12 Best Cash Management Software & Services (2023)
A cash or cash flow management software is an automation app that gives you tools and resources to monitor your business’s finances and forecast your future liquidity position.
It delivers valuable insights and smart tracking features to help you easily predict your every step so you can better manage your funds and keep your business healthy.
Below is the list of the 12 best cash management software that can offer you a centralized system to organize, project, and control your revenues and expenses.
Go ahead and check out each app to discover how they can improve your cash flow visibility.
Wave targets solopreneurs who need help managing their business finances.
It’s an accounting software that, along with record keeping, offers an in-build cash tracking feature to monitor your income and expenses.
Here, you can connect and automate your banking transaction to reduce manual tasks and optimize your workflow.
It further gives you complete access to customer profiles and their transaction history to track your receivables and payables. It allows you to tailor your approach to reduce outstanding balances for each customer and vendor.
Another thing. Wave, like Quickbooks, also provides a banking account. It not only expedites the transaction process but also records the trail for you.
- Cash management.
- Invoicing and payments.
- Integration with US banks.
- Coaching service.
- Mobile support.
Wave accounting and tracking apps are free to use. It only charges for payment integrations and advisory services.
Pulse delivers easy cash flow management solutions to solopreneurs, startups, and small businesses.
It’s a user-friendly tool that takes your income and expense entries and projects a visual representation of your cash inflow and outflows.
You can classify where your money comes from, automate recurring transactions to reduce your workload, and adjust entries to generate accurate charts.
It additionally offers Scenario planning to help you optimize your budgeting and create contingencies to avoid negative cash flow. You can use this feature further to evaluate how you can arrange finances if a specific receivable you depend on may not realize in the given time.
PulseApp also allows you to invite members and share your forecasts with investors or upper management.
- Categorizing revenue source.
- Journal entries automation.
- Scenario generation.
- Growth projection.
- Collaboration and sharing.
- Currency conversion.
Pulse charges $59 to $89 per month.
PlanGuru is designed for advanced budgeting and cash flow management.
It offers versatile ways to track your revenues and expenses to help you make better projections and predict long-term business growth.
Here, you can generate a budget forecast of up to 10 years and add custom formulas to produce tailored reports. It provides a pre-defined structure to seamlessly sync your traditional cash flow statement and produce analytics reports without manually entering any data.
PlanGuru also shares an Excel Add-in option. It connects your sheets with the app and updates the numbers on your reports. It’s a useful feature that allows you to build custom dashboards and excel reports for your team and clients.
- Cash flow statements.
- Forecasting and budgeting.
- Scenarios generation.
- Formula builder.
- QuickBooks, Xero integration.
- Excel Add-in.
- Dashboard and reports.
- Video Tutorials.
PlanGuru charges a minimum of $99 per month. You’ll have the option to pick a desktop version or a cloud-based app.
If you lack technical accounting knowledge and struggle with advanced statements, go for Cash Flow Tool. It is an AI-powered app that imports data from your accounting system and automatically breakdown complex information into user-friendly charts.
It has tons of interesting cash management functions.
You can monitor your finances from anywhere using your cellphone, instantly learn of any irregularities, and share your key metrics with your team. It provides a visually appealing forecast model and interactive elements to help you conduct an in-depth analysis.
Some of its other attractive functions include a heat map showing your current balance, a scenario maker to plan for unforeseen events, and almost 30 different KPIs.
- Smart projections.
- Built-in calendar.
- Scenario maker.
- Notifications and alerts.
- Integration with QuickBooks.
- Mobile friendly.
Cash Flow Tool’s basic plan is free; its premium subscriptions start at $42 per month.
Agicap is a UK-based app that offers monitoring, forecasting, and consolidation functions.
Here, you can connect your accounting software and bank accounts to centralize your database and easily keep track of your upcoming receivables and payables. Its AI-powered functions automatically categorize your transactions to clarify them and improve cash visibility.
With its scenario planning feature and reporting, you can additionally analyze your future funds’ movement and forecast sales to discover opportunities for business expansions.
It also delivers a comparison chart to compare your prediction against real-time data and measure the accuracy of your projections.
Overall, it’s an efficient and time-saving tool.
- Funds monitoring.
- Scenario generation.
- Comparison graph.
- Consolidation view.
- Integration with the accounting system and excel.
- Mobile app.
Agicap provides custom quotes based on the number of banks and companies you want to add.
Planful is ideal for businesses that aim to know exactly how they manage their finances and what they can do to optimize their budget.
It delivers advanced management features that allow you to get a clear picture of your cash allocation and produce data-driven annual operation plans.
You can create flexible forecasts that automatically adjust with the changes and generate consolidated reports to access all the crucial data on one page. You can also device multiple scenarios to estimate risks and identify areas for improvement.
Another helpful function of Planful is the workforce projections. It allows you to predict your human resource operations to reduce recruitment costs and improve employee retention.
- Budgeting and Forecasting.
- Strategic planning.
- Scenario generation.
- Custom predictions.
- Workforce management.
Planful’s prices are not listed on the site. Contact sales to get the quotes. You can also request a Demo to explore the features.
Payference delivers working capital and cash flow management solutions.
You can use it to automate your receivables, highlight the best time to disburse payments, and generate cash projections to control your funds.
Its other core function includes a consolidation of your inflow and outflow, so you don’t have to chase data from different sources to keep track of your business finances.
You also get a graphical view of your working capital movement to understand your company’s liquidity position.
In addition, Payference gives you deep insights into your transaction history to ensure you don’t leave any outstanding amount for long to hurt your business relationship with your vendors.
Since it integrates with banks, accounting software, and Excel sheets, it continuously updates the data to display accurate figures.
- Desktop and mobile app.
- AR and AP monitoring.
- AI-powered forecasting.
- Integration with banks and accounting system.
- Customer portal to collect receipts.
- Identify bad debts and outstanding invoices.
Payference provides quotes upon request.
QuickBooks is a popular bookkeeping software that offers a set of tools to help small businesses control their funds. One of its functions includes cash flow management, which allows you to organize and track your funds.
You can use it to predict how much you might spend in the next three months and leverage that data to adjust your budgeting strategy. It has an intuitive dashboard that makes it easier to monitor your daily activities, so you can effortlessly keep track of your upcoming transactions.
What makes QuickBooks appealing, though, are its other core functions. Since it’s full-fledged accounting software, you don’t have to buy and integrate separate apps for cash management.
It also offers a checking account that you can use exclusively for your business.
- Checking account.
- Receipt capture.
- Mileage tracking.
- Basic accounting.
QuickBooks prices start at $12 a month.
Fluidly is an AI-powered cash management tool that extracts financial transactions from your accounting software and uses them to forecast your future position.
It automatically tracks your receivables and payables to highlight how much money is coming in and how much is going out.
With its intuitive charts, you can easily monitor your balances and predict when you might face negative cash flow. You can additionally learn how much any investments or changes would affect your future cash balance using its scenario planning feature.
Interestingly, it also offers a funding option to help you acquire loans and investments if you’re in need. It uses public records to search lenders and display the available choices.
- 3-to-12-month forecasting.
- Outstanding debt highlighting.
- Payment collection automation.
- Future cash balance calculation.
- Funding options and specialists.
- Integration with Xero and QuickBooks.
Fluidly basic plan starts at 10 Pounds.
Cash Flow Frog provides simple yet powerful forecasting and monitoring features. It gives you insights into your business activities to increase your cash visibility.
You can automatically generate predictions and continuously compare them with your real-time day-to-day activities to see if you’re on the right track or need improvisation. You can also produce tax forecasts to calculate your future returns and estimate your cash runaway.
Some of its other interesting features include what-if scenarios planning, customer insights to identify lucrative clients, and branding reports to share with your investors.
- Estimated and real-time comparison charts.
- Customer insights.
- Custom reports.
- Tax return forecast.
- Scenario planning.
- Future cash balance.
Cash Flow Frog prices depend upon your annual revenues. If you earn under $200k per year, it will cost you $29 to$49 a month.
Cash Analytics is ideal for professional advisors or teams working in mid-to-large organizations.
It’s an advanced tool that summarizes all your balances, receivables, and payables data to help you manage your working capital.
Here, you can generate one-to-three-month short forecasts to evaluate your income and expenses and accurately plan your operational budget. Furthermore, you can dig deeper into individual categories to analyze their effect on your overall cash balance.
Cash Analytics also allows you to create consolidated reports to see a clear picture of your finances.
- Automated prediction.
- Liquidity status.
- Integration with banks and SAP.
- Transaction visibility.
- Actual vs forecast view.
- Accuracy analysis.
- Multi-currency Consolidated reports.
CashAnalytics shares different plans for individuals and teams. If you want to purchase an individual account for your company, buy its starter plan for 420 EURO per month. For teams, it charges 920 EURO per month.
You can also customize your plans to suit your purpose.
Fathom is another decent app you can use as an alternative to Cash Analysis.
It provides a comprehensive view of your financial transactions to highlight how much cash you typically spend in which department and which area generates more revenues.
You can project full-fledged cash flow statements and drive versatile scenarios from them to analyze your overall business performance. You can also create micro-forecasts to see how making a small move could impact your liquidity position.
In addition to forecasting, it delivers formula builder and customization to produce professionally designed reports. Its visual models are its best feature that makes cash tracking incredibly easy.
Another unique function of Fathom is benchmarking. It allows you to compare different entities to measure how well a particular branch of a company or a client’s business performs.
- Cash flow forecasting.
- Performance analysis.
- Visually appealing charts.
- Branding reports.
- Multi-currency consolidated reports.
Fathom charges $55 per month for one company account.
As you know, efficient cash flow management is crucial in keeping your business sustainable for years.
To make that possible, you need a better system to receive real-time data so you can keep a close eye on your funds’ movement and make timely strategic decisions.
Cash flow management software offers you that solution.
I suggest requesting Demos of the tools I have listed above to explore their features and learn more about them.