This efficiency is critical because, while quarterly financial reports may be mandatory, they are not only regulatory requirements. These statements give you and your stakeholders valuable information about your revenue, expenses, profitability, debt load and ability to meet obligations.
At Fuelfinance, we know all about that. We aim to help you navigate the unpredictable 2020s market with careful financial reporting and data analysis. That’s why we created this in-depth comparison of financial reporting tools to help you stay profitable, whatever life throws at you.
Read on to discover the top financial reporting software for your company.
9 best financial reporting software & tools
Fuelfinance
Fuelfinance is a startup-friendly, cloud-based software for managing your business's finances. We know from experience that keeping track of financial performance when you’re just starting to build your business can be confusing.
If you have limited time, resources and knowledge in this area, you're in for a treat. Fuelfinance can act as your personal, fractional CFO, so you don't have to hire an in-house financial expert. Our financial experts offer unlimited support, helping you save thousands you would otherwise spend on a financial department.
Our mission was to create good financial reporting software without the need for messy spreadsheets, juggling multiple tools or any previous experience. We designed a tool with exceptional financial reporting capabilities that's easy and pleasant for everyone.
Features
Here's what you get when signing up for our financial reporting software solutions:
Advanced automation: Eliminate the need for paperwork with our software that handles everything automatically. It's not just about saving time but also giving you instant access to financial information that's always up to date.
Financial planning: We offer financial forecasting for startups, including conservative estimates and optimistic scenarios. Strategize and plan for any challenging possibility.
Unit economics: Our program provides a simple yet effective approach to monitoring revenue, expenses and crucial metrics like LTV and CAC.
Dashboard: Always monitor your financial performance with our transparent dashboard, customized to align with your business model, based on our experience with over 600 SMBs.
AI forecasting: Fuelfinance’s AI forecasting generates multi-scenario financial projections based on real-time financial and operational data, helping you anticipate trends and adjust strategies accordingly. Plus, our approach to plan vs actual analysis helps you tweak these forecasts as you go to really help you grow.
Anomaly detection: Identify unexpected trends, missing data or inconsistencies before they impact decision-making. The system automatically flags potential issues, reducing financial risks.
Expert support: Trust our financial experts, always ready to address any queries or concerns you may have. Treat us as your outsourced CFO, and contact us whenever you need.
Integrations
We offer plenty of practical integrations with third-party tools you may be using. These include QuickBooks integrations, Stripe, Gusto, Wise, HubSpot and over 300 more. You also get helpful cheat sheets and templates that clarify all those complex terms and simplify your business' financial management.
Case studies
Take a look at some of our client stories to get an idea of how we can help you:
Oceans, a fast-growing recruiting agency, faced challenges in managing its scattered finances as it scaled. Fuelfinance stepped in to implement a centralized, real-time financial dashboard, automated reporting and forecasting tools. By optimizing accounts receivables and switching financial providers, Oceans improved cash flow and saved $20K annually. With Fuelfinance handling the numbers, the CEO and team regained valuable time to focus on growing the business.
“I have already recommended Fuel to many companies. The time we started using Fuel at Oceans was the best time. I imagine large enterprises might not be the ideal fit for Fuel, but we are the perfect customer — one that’s gone from an idea to a proven startup, transitioning from the “CEO does everything” phase to hiring a larger team. That’s the right time to bring Fuel on board.”
Ian Myers, Founder and CEO at Oceans
ColdIQ, a GTM agency, was growing rapidly but struggled with financial visibility. Revenue was strong, but cash flow management, budgeting and forecasting were disorganized, relying on scattered spreadsheets and manual tracking. Fuelfinance transformed ColdIQ’s financial operations by centralizing data, automating reporting and optimizing cash flow. The results? 36% growth in 8 months, improved revenue forecasting accuracy and 30+ hours monthly saved on financial admin.
“When you’re working with an external service provider, what really matters is how much they care about your business. And with our Dedicated CFO and the Fuelfinance team, it’s obvious – they’re all in.”
Alex Vacca, Co-Founder and COO at ColdIQ
Hampton, an invite-only membership community for CEOs, asked Fuelfinance to handle their $23 million per member revenue flow. We created fully customized models and report packages designed to be easily readable. Now, they spend less than one hour monthly updating us with information while we provide a clear, centralized system for managing all financial reporting processes.
“Fuelfinance has been able to reflect the flexibility of our operations as we grow in finance and tailor the reporting to our changing needs.”
Jordan DiPietro, CEO at Hampton
Datarails
Datarails is a financial management solution that keeps you working in Excel – which is great if you're already used to the interface but need more advanced financial reporting features. You can use it independently or as an add-on to your spreadsheets. It helps small and mid-sized companies with data management, forecasting and strategic finance planning.
Features
Financial analysis: Datarails allows users to examine your financial and operational data thoroughly. Dive deep into variance drivers, headcount, sales performance, COGS and more.
Visual data representation: It converts financial information into graphs, charts and interactive dashboards, displaying key metrics and trends. Users can generate visual reports directly within Excel, integrating data from multiple sources for analysis.
Scenario models: Users can evaluate the potential impact of changes in their finances or external factors on their business outcomes.
Automated data collection: Datarails connects to various data sources, automatically pulling financial information into reports. This integration ensures that data is consistently updated without requiring manual input.
Easy sharing: Users can automate the financial reporting process with a workflow that allows them to instantly view the status of each financial report and share it as an Excel file, PDF, live dashboard or presentation.
Integrations
This financial reporting software seamlessly connects with over 70 tools, like BambooHR, HubSpot, Power BI, Snowflake or Xero.
This financial reporting software automates all aspects of work related to planning, reporting and analysis with machine learning. It also works as financial modeling software.
One of their unique features is Elastic Hypercube Technology, an in-memory database facilitating real-time updates of your startup's financial model. On top of handling your financial analytics, you can also use it for workforce and operations planning.
Features
Drag-and-drop report builder: Users can create sophisticated, customized financial reports without the need for any IT knowledge.
Microsoft Office add-in: This allows users to connect Word, Excel or PowerPoint to draft well-formatted reports. They get updated instantly and grant unlimited view licenses for read-only access.
Interactive visualizations: These let users view charts, numbers and variances in any way that's most comfortable for them.
Ad hoc analysis: Workday customers can filter and analyze financial data across different dimensions and hierarchies, such as departments, regions or product lines.
AI and ML capabilities: Artificial intelligence and machine learning improve financial modeling and forecasting. It detects data anomalies, flags potential errors and refines projections by analyzing historical trends.
Integrations
This tool integrates with multiple financial, ERP and CRM systems, including Oracle, SAP, NetSuite, Sage Intacct, Microsoft Dynamics, Salesforce, Deltek Vision, Epicor, Plex and Multiview. It has multiple integration options, such as automated data syncing, API-based custom scripts and manual data import.
Cube
Cube is financial planning software based on spreadsheets. You can use it to elevate your reporting and analytics and improve business performance without changing your working method.
The tool also allows you to build custom reports, which are valuable for creating strategic budgets. It's relatively easy to use, so you won't have to spend weeks learning to navigate it.
Features
Ad-hoc reports: It allows pulling specific data sets to create reports users want to see. The software includes financial model templates for various needs that make reporting fast and easy.
Financial statements: Cube streamlines the generation, updating and analysis of three major statements. It facilitates revenue, cost and expense tracking over the period users select. They can view them in a consolidated reporting view or with detailed insights.
Variance analysis: Users can compare planned budgets to actual spending to assess financial performance and adjust resource allocation accordingly.
Performance reporting: This feature allows users to monitor KPIs, trends, and business insights, providing data to support strategic decision-making.
Compliance reporting: Standardized templates ensure that all team members follow the same reporting structure, maintaining consistency across financial reports.
Sensitivity analysis: Users can analyze how different factors impact financial forecasts, helping them identify vulnerabilities and adapt to market changes.
Cash flow reporting: By tracking cash inflows and outflows, users can identify cash flow patterns and incorporate them into forecasting to improve financial planning.
Integrations
This financial reporting software allows users to create their reports in Microsoft Excel and share them via Google Sheets. It lets them pull data from ERP, CRM, HRIS, business intelligence and plenty of other tools in the tech stack.
Oracle NetSuite works as comprehensive accounting software but is also a tool for handling your CRM, ERP and commerce. This cloud-based solution has everything you need to manage your accounting tasks.
It's popular among pre-revenue startups, mid-sized companies and fast-growing organizations. The accurate reporting software supports many currencies, languages and compliance standards, making it great for multinational businesses.
Features
Configurable financial reports: The platform has plenty of pre-made statements that meet various country-specific requirements.
Report snapshots: These summaries give you an overview of all your reports. They link to the data sources and can be added to dashboards for those who don't need to dive deep into lengthy reports.
Multidimensional analysis: This is useful for more accurate insights. Custom data elements link characteristics to your transactions. You can track all important operational data, like revenue and margin or analyze the cost of serving individual customers.
Many reporting standards: The multi-book feature facilitates keeping multiple book sets, each with different rules, tax codes etc.
Multiple layout options: Standard layouts are highly customizable, with data grouping, filtering and sorting. Before and after versions of reports help to visualize the impact of accounting changes.
Integrations
NetSuite Connector is an optional add-on for helping you always get accurate data in different systems you may be using. It facilitates data mapping between Oracle and your other tools, like:
E-commerce storefronts
Point of sale systems
Online marketplaces
Third-party logistics providers
These integrations grant more efficient inventory management, simpler accounting and automated order management.nal modules they choose, the number of users and the initial setup.
Sage Intacct
Sage Intacct is an AI-powered, cloud-based financial management solution. It improves your financial transparency with continuous accounting and ERP. This is a flexible and scalable tool recommended by small to medium-sized companies. It's a comprehensive accounting software that's great if you want to hop on the trend of implementing AI capabilities in financial processes.
The platform also has various extended options, including advanced reporting capabilities. These include the Interactive Visual Explorer and SaaS Intelligence.
Features
Dashboards and reporting: Sage Intacct provides a customizable dashboard that updates automatically and gives quick insight into key information. There are 150 built-in reports and options to create your own.
Dimensions: This feature helps categorize transactions and operations in ways that make sense to you with tagging options. It lets you view individual project profitability, revenue by area etc.
Intelligent General Ledger: This AI function automates accounting features to run faster and smoother. It gives valuable information throughout the month and helps reduce human error.
Multi-entity insights: This is useful for growing companies spreading out into the global market. Keep things simple with a single account for all your entities.
Multiple data types tracking: Sage Intacct creates reports of both your financial and operational information.
Integrations
Sage Intacct has a separate app to browse over 350 apps to connect with. It works with business management, CRM, e-commerce, inventory management, time and expense tracking, and payroll tools.
Anaplan
Anaplan is business planning and corporate performance management software designed for large organizations that need to handle complex financial planning, operational data and workforce management.
It’s especially popular among enterprises thanks to its advanced modeling capabilities and scalability.
Features
Planning and modeling: Anaplan lets you create multi-dimensional models that forecast different business scenarios, such as revenue growth, budget shifts or changes in staffing.
Collaboration tools: The connected planning feature makes collaboration easier by linking teams across finance, sales, marketing, HR and supply chain, allowing them to work on the same plans in real time.
Predictive insights: Anaplan uses AI and machine learning to analyze historical data and predict future trends, helpful for sales and budgeting forecasts.
Enterprise-scale flexibility: Anaplan can handle big data, complex business structures and detailed financial models. This scalability makes it a good choice for enterprises juggling multiple departments, regions and revenue streams.
Security: With features like data encryption, role-based access controls and BYOK (Bring Your Own Key) compliance, Anaplan ensures sensitive financial information stays protected.
Integrations
This financial reporting solution integrates with popular cloud systems like AWS S3, Google BigQuery and Microsoft Azure Blob. It also offers flexible API solutions to connect with other financial tools and keep data flowing across platforms.
Vena Solutions is a financial planning and analysis (FP&A) tool made for teams that live and breathe Excel. Instead of replacing spreadsheets, it works on top of them, adding features like automation, data integration and process management to make FP&A in Excel easier.
Features
Vena Insights + AI: Vena Insights generates insights and analyzes financial data with AI analytics. It identifies patterns in historical data, helping users create real-time reports with data visualizations.
Vena Copilot for FP&A: Integrated with Microsoft 365, Vena Copilot helps with financial planning and analysis tasks. It organizes data and automates consolidating financial data, generating variance reports and updating budgets.
Financial modeling: Vena simplifies the process of gathering and consolidating data from multiple sources to support financial modeling. It lets users create multidimensional models in Excel, allowing them to view financial data from different perspectives.
Workflows: Vena’s workflow feature maps out financial processes, automates task assignments and tracks progress. It helps manage reporting cycles by sending reminders, tracking deadlines and maintaining an overview of task statuses.
Collaboration tools: Built on top of Excel, Vena allows multiple team members to work on financial plans simultaneously. It centralizes data to ensure consistency and eliminates version control issues.
Integrations
This is a financial reporting software designed to integrate natively with Microsoft 365 and connect with various business systems like ERPs and CRMs, though integration capabilities may vary depending on your existing tech stack.
Planful is a financial performance management platform that helps businesses with budgeting, forecasting, accounting and financial consolidation. It’s designed for finance, sales, HR and operations teams to handle planning and reporting better.
Features
Rolling forecasts: This feature lets users update financial projections in real time as their business conditions change. Instead of creating static annual budgets, they can continuously adjust their plans based on the latest data.
ML pattern recognition: Planful uses machine learning to scan financial data and detect unusual patterns or negative trends. It automatically flags anomalies and potential risks.
Driver-based forecasting: Users can create forecasts based on key business drivers, such as revenue, expenses or headcount.
Self-service reporting: Planful offers real-time, self-service reporting tools so teams can access detailed financial reports without waiting on finance to pull the data.
Accounting and financial consolidation: Planful supports accounting functions such as financial consolidation and the close process. It automates data collection from different sources and manages the steps in closing the books by aggregating financial data, standardizing entries and generating consolidated reports.
Integrations
Planful integrates with many popular tools, including QuickBooks, Salesforce, Oracle, NetSuite and Sage Intacct.
Configurable financial reports Report snapshots Multidimensional analysis Many reporting standards and layouts
4.4
Businesses looking for an all-in-one solution
Sage Intacct
Dashboards and reporting Dimensions Intelligent General Ledger Multi-entity insights Multiple data types tracking
4.3
AI-powered reporting and ERP
Anaplan
Planning and modeling Collaboration tools Predictive insights Enterprise-scale flexibility Security
4.6
Large, enterprise-level finance and operations teams
Vena Solutions
Vena Insights + AI Vena Copilot for FP&A Financial modeling Workflows Collaboration tools
4.6
Finance teams that rely heavily on Excel
Planful
Rolling forecasts ML pattern recognition Driver-based forecasting Self-service reporting Accounting and financial consolidation
4.3
Cross-functional teams in finance, sales and HR
Ready to up your financial reporting game?
Finances don't have to be a pain in the... Yet, most people dread even opening those documents, calculations, graphs and spreadsheets. We get it. No one enjoys wasting whole days trudging through rows upon rows of numbers, especially if they don't seem to be adding up.
That's why we're here – to make financial reports fun and sexy. With professional financial management, you'll start making the right decisions and the big money. If that doesn't sound hot, we don't know what does.
To grow your startup into a successful business with the best financial reporting software, book a demo here.
FAQs
What is financial reporting software?
Financial reporting software refers to tools designed to help businesses organize and present their financial information. They automate the process of creating reports, e.g., profit and loss statements and balance sheets, making it easier for organizations to track and analyze their financial performance.
Which software can you use for financial records?
Managing financial records is easiest to do with financial reporting tools. Fuelfinance's finance professionals can do everything for you, from accounting to financial projections.
Is Excel a financial reporting tool?
Many companies use Microsoft Excel as a financial reporting tool. It lets you create, customize and analyze financial data in spreadsheets. It has plenty of formatting options and performs calculations, making it a popular choice. However, dedicated financial reporting solutions systems offer more refined, specialized features and automation for larger, complex financial reporting needs.
What are the 3 major financial accounting reports?
The three basic financial reports are the profit and loss (otherwise called P&L or income) statement, cash flow and balance sheet.
