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The 6 best cash flow forecasting software tools in 2024

Find the best solution for optimizing cash flow in your business

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In a rapidly evolving business world where everyone is expected to do more with less and uncertainty rules the market, cash flow management is the bedrock upon which companies are able to achieve financial stability and sustained growth. 

There are many software solutions designed to streamline this critical aspect of your business. If you’re evaluating your options, you’ve come to the right place. This article provides an in-depth discussion of all the features you should look for in a solid solution for cash flow management and will help you decide which software is the best for your unique needs. 

From automating tedious and routine financial processes and tasks, streamlining communications between stakeholders, to running what-ifs, our roundup will walk you through them all. Whether you are an ambitious startup or an established enterprise, discover the tools that will empower you to manage your cash flow with confidence. 


The best cash flow forecasting software compared

Software/
Platform
DrivetrainVenaCubeMosaicWorkday Adaptive PlanningAnaplan
Price
$$
$$
$$
$$
$$-$$$
$$$
Best for
SMB to  Mid-Market
Mid-Market
SMB to Mid-Market; with custom pricing for enterprises
SMB to  Mid-Market
Mid-Market
Enterprise
Scalability
High
High but requires extensive  planning
Scalable, but requires manual uploading
Moderate
Scalable but requires continual adjustments
Scalable with  upgrades
Type of FP&A solution
3rd
Generation
2nd
Generation
3rd
Generation
3rd
Generation
2nd
Generation
2nd
Generation
Native Integrations
200+ OOTB integrations
Few native integrations
22 OOTB integrations
29 OOTB integrations
7 OOTB integrations
10 OOTB integrations
Predictive Forecasting
Scenario planning & modeling
What-if analysis
Collaboration with access control
Dynamic Dashboards
Automated Real-time Financial Statements & Reports
Customizable Forecasting Models
Connected 3-statement modeling
Onboarding, Training & Customer Success
Customizable Modeling and Reporting Templates

Drivetrain is a powerful, built-for-B2B strategic financial planning platform. Drivetrain offers a comprehensive, third-generation FP&A solution that seamlessly connects various business applications and data sources, to create cash flow forecasts quickly and easily. 

Drivetrain’s full range of features will give CFOs and their finance teams in SaaS and other B2B businesses everything they need to create flexible, strategic, and more accurate cash flow forecasts. 

The platform's ability to generate multiple scenarios like best-case, worst-case, base-case, and what-if analysis allows businesses to plan and prepare for various cash flow outcomes.

Additionally, Drivetrain's unique approach to computation through simple, plain English  formulas makes it accessible for cross-functional teams to collaborate and align on shared metrics across different geographies, market segments, and channels.

Price: 

$$

Best for: 

Small and Mid-market

Pros:
  • Customizable forecasting models including driver-based modeling

  • Configure direct and indirect cash flow statements

  • Automated reporting and ad-hoc reporting tools

  • Best-of-breed reporting templates

  • 200+ integrations

  • Unparalleled customer support

  • Seamless and intuitive UI 

Cons:
  • Heavily focused on B2B businesses

Key cash flow forecasting features in Drivetrain:
  • Predictive forecasting capabilities

  • Rolling budgets and forecasts

  • Connected 3-statement modeling

  • Variance analysis

  • Scenario planning and what-if analysis

  • Subscription revenue modeling with multi-currency support

Vena is an Excel-based planning platform. It empowers Excel users with planning and forecasting capabilities beyond the limits of traditional spreadsheets.

Price: 

$$ 

Best for: 

Mid-market

Pros:
  • Versatile solution that caters to any type of company 

  • Users have reported good support during training 

  • Easy visualization and filtering

Cons:
  • Implementation can be a heavy lift (in excess of 2 months and often beyond 4 months)

  • Template automation is difficult 

  • Very expensive for small to mid-sized companies (costs can go over $60,000 including implementation fees)

Key cash flow forecasting features in Vena: 
  • Centralized data management 

  • Financial forecasting

  • Real-time reporting and analysis

Vena product screenshot showing the status tracker for 2020 annual budget.

Datarails is a solid lightweight Excel-based tool that supports several FP&A use cases—budgeting and planning, financial forecasting, variance analysis, and automated report generation. Users can continue to use their existing financial models in Excel. It also uses AI/ML algorithms for predictive analytics and financial insights.

Price: 

$$ 

Best for: 

Small and Mid-market

Pros:
  • Automated records for data accuracy

  • Native Excel for faster implementation

  • Workflow collaboration

Cons:
  • Lacks a native Google Sheets integration

  • Users report the tool often freezing in the middle of an operation

  • Limited scalability and visualizations

  • Limited customization options

Key financial reporting features in Datarails:
  • Data visualization tools

  • Financial data analytics

  • Monthly reports

A heavily edited screenshot of the DataRails product showing the Collection Management feature with some workflows and commenting options.

Cube is an FP&A software that leverages multi-dimensional (products, regions) databases, known as "cubes," to allow users to slide and dice their data. Cube is designed to help finance teams streamline their budgeting, forecasting, and reporting processes. 

Price: 

$$ 

Best for: 

Small to Mid-market

Pros:
  • Intuitive and easy to implement 

  • Templates for routine financial reports

  • Native Google Sheets capability (not add-in)

Cons:
  • Takes a lot of formatting to make the reports understandable, making it difficult for non-finance users

  • Lack of headcount planning feature 

  • Multidimensional analysis capabilities are limited to 8 top-line dimensions

  • Drill-down capabilities are limited to the summary-level

  • Data refreshes can be slow

Key cash flow forecasting features in Cube: 
  • Data integration with various source systems, including ERP, CRM, and HRIS

  • Bi-directional integration with Excel and Google spreadsheets

  • Multi-currency support

Cube product page powered by Flatfile showing the "Upload your conversion rates" page

Mosaic is primarily a financial BI tool rather than an out and out FP&A solution. It consolidates data across source systems into accessible visuals and provides out of the box templates. But, it comes with rigid modeling and limited customization capabilities. 

Price: 

$$ 

Best for: 

SMB to Mid-market

Pros:
  • Provides out of the box templates and standard metrics to get started quickly

  • Built-in 3-statement model, but with limited customizations

  • Workflows and collaboration

Cons:
  • Model creation is rigid (highly inflexible) and highly templated

  • Unintuitive for people familiar with Excel as there are so many different tabs, selections and fields to navigate and input values into

  • Doesn’t handle rollups well

  • Doesn’t support weekly reporting

  • Setting up access controls is limited

Key cash flow forecasting features in Mosaic:
  • Multiple scenarios

  • Collaborative planning

  • Dashboards

  • Rolling forecasts

Workday Adaptive Planning is a cloud-based enterprise performance management (ERP) software designed for enterprise-level companies. As its name suggests, Workday Adaptive Planning offers tools for budgeting, forecasting, and modeling to help businesses plan more efficiently. 

Price: 

 $$-$$$

Best for: 

Mid-market

Pros:
  • Good financial close and consolidation capabilities

  • Transactional-level drill down capabilities

  • Custom report builder

  • Driver-based forecasting

Cons:
  • Modeling interface contains many tabs and configuration settings that leads to errors and high dependency on system integrators for implementation and change requests

  • Offers only 7 pre-configured adapters

  • The formula builder uses its own syntax (not DAX-based), and combined with a not very user-friendly help system results in a steep learning curve

  • Heavy dependence on third-party system integrators and long implementation times (often ~6 months to 1 year)

Key cash flow forecasting features in Workday:
  • On-demand forecast vs. actuals

  • Multiple scenario planning

  • Rolling forecasts

  • Multi-currency support

Workday product screenshot showing a top down plan with the Revenue Targets tab highlighted. It contains a table for revenue targets by departments, a chart showing revenue targets by region, a pie chart of the revenue share by various regions and a scorecard showing the annual target

Anaplan is a second generation FP&A tool well-suited for enterprise-level and Fortune 2000 businesses. It can accommodate most of the FP&A use cases businesses have and can help with cash flow forecasting.

Price: 

 $$$

Best for: 

Enterprise

Pros:
  • Use case flexibility 

  • Scenario planning capabilities 

  • Support for multiple currency translations and eliminations

  • Available in multiple languages

Cons:
  • Steep learning curve and long implementation times

  • Limited visualization features on the dashboard 

  • Complex pricing model and is extremely costly for mid-market and SMB companies 

Key cash flow forecasting features in Anaplan:
  • Driver-based forecasting

  • What-if scenario analysis

  • AI-based forecasting (add-ons)

Anaplan product screenshot showing a Top Line Revenue Summary with a stacked chart split by different revenue types, Group KPIs, P&L summary table and a line chart showing Total Revenue over some period

Drivetrain vs. the field: Why Drivetrain is the best cash flow forecasting solution

The cash flow forecasting tools we've evaluated generally fall into two categories: those with custom-built calculation engines for complex financial modeling and those enhancing Excel's capabilities for users who value spreadsheet flexibility.

Drivetrain distinguishes itself in these categories by offering a powerful calculation engine with an easy-to-use ‘spreadsheet-inspired’ user interface, utilizing straightforward plain-English formulas and templates. 

This blend of power and simplicity allows users to quickly master its features, making it a unique and efficient choice for cash flow forecasting. 

See how Drivetrain can make cash flow forecasting easy 

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How to choose the right cash flow forecasting software for your business

What is cash flow forecasting?

Cash flow forecasting helps a company predict future financial liquidity over a predefined period. It involves estimating the amount of cash that will flow in and out of the business, including all expected income and expenses. 

With cash flow forecasting, an organization can plan for future resource needs, ensuring they have enough cash to cover upcoming requirements like product enhancements, hiring new employees, expanding into new markets, etc., when they need it.  

Effective cash flow forecasting supports strategic decision-making, allowing businesses to anticipate and navigate financial challenges, manage debt more efficiently, and identify opportunities for investment and growth.

5 key benefits of cash flow forecasting software

1. Accurate financial planning and resource allocation

Cash flow forecasting software uses historical cash inflow and outflow data analysis to considerably reduce the margin of error in financial projections. With enhanced cash management, businesses can make better proactive strategic decisions such as funding for product development, marketing initiatives, and hiring. This ensures that resources are utilized efficiently and aligned with strategic priorities.

2. Ability to more successfully navigate uncertainty

The software gives companies the ability to simulate various financial ‘what-if’ scenarios, helping them prepare and better navigate possible outcomes with greater confidence and agility.

3. More time to spend on strategic initiatives

By automating data collection and analysis, cash flow forecasting software tools can save countless hours that would have otherwise been spent on managing multiple Excel spreadsheets needed for forecasting. With the right software, teams can instead focus on important and strategic tasks. 

4. Real-time insights

SaaS businesses can access up-to-date financial information, thereby enabling proactive adjustments to cash flow strategies that help in quickly responding to changing market conditions or internal factors.

5. Easy collaboration across different teams

A centralized platform for financial data enhances the ability for different teams to collaborate more effectively, enabling a more unified, cohesive approach to financial planning and analysis that leads to better-informed decision-making. 


What are the different types of cash flow forecasting?

Most finance teams focus their energies on data gathering and data consolidation. While the familiarity of spreadsheeting is a big plus when creating annual reports, budgets and forecasts, it does have limitations.

Since they require manual entry of data, making it more error prone, data integrity and accuracy becomes a big issue. Also, each department and team has their own preferred models and spreadsheets for budgeting and reporting, so reconciling all of it into a single source of truth for the organization can be a long-drawn process.

These challenges led to the creation, and continued evolution, of modern FP&A software or strategic finance software. In this section, we have compared seven of the best financial reporting tools on the market currently, indicating the maturity of each in terms of their FP&A features. Here we’ll take a look at the degree to which each solution relies on spreadsheets.

Source: Adapted from FP&A software classifications developed by Paul Barnhurst (The FP&A Guy).

Software/
Platform
DrivetrainVenaCubeMosaicWorkday Adaptive PlanningAnaplan
Web application that replaces spreadsheets
Web application that integrates with spreadsheets
Application uses a spreadsheet for calculations
Add-in for spreadsheet applications

If I wanted to see our marketing engine's performance - leads, conversions, win/loss ratios - we had to drive data from several sources to a spreadsheet. Naturally, these manual exercises cost us time and flexibility. The accuracy and speed of our workflows are significantly higher with Drivetrain. We don't have to wait for a quarter or month-end to capture performance.— Rahul Kumar, VP of Finance and Business Strategy at FarEye

Real-world use cases for a cash flow forecasting software like Drivetrain

Putting together the plans and budgets using spreadsheets involves a lot of manual entry, not to mention all the back-and-forth emails with department heads to ensure accurate numbers. And doing the forecasting necessary to support the planning effort is just as arduous.  

This is exactly why Airmeet, a premium events and experiences platform, decided to use  Drivetrain.  

In Airmeet, every budget owner had their own way of forecasting pipeline and revenue, and the finance team had to incorporate their forecasting models with the rest of their model to come up with a range. 

To add to the problem, department plans kept changing, and there was no easy way to see how those changes would impact the model. All of this made it hard to effectively collaborate on making strategic, data-driven decisions.

Under these circumstances, it was hard for Airmeet’s finance team to move quickly. They needed a centralized system where everyone could collaborate faster and with fewer errors. They found that in Drivetrain, which provided a single source of truth for all teams and collaboration features that helped to eliminate friction.  

Before Drivetrain, we had to spend time exporting and consolidating data across our Quickbooks accounts, multiple Excel files and Chargebee data to build our reporting. It took us five days every month to accomplish this. With Drivetrain, the data consolidation and rollups are completely automated and available in real-time. The best part is we now have the same information for both financial data and business metrics visible to everyone.— Rajshekhar Patil, Manager of Business Finance, at Airmeet 

With Drivetrain, stakeholders no longer have to wait for the finance team to publish their monthly reports to make decisions or share their data. Now, in addition to the monthly P&L book, Airmeet has added reports such as pipeline, MRR, customer and departmental reports. This translates to Airmeet having all the required information needed to make a decision. 

With accelerated data consolidation and reporting, the finance team has more time to collaborate with each budget owner, finalize budgets, and implement their forecasting models. Company leaders can easily assess the impact of investments by any combination of department, team, region, or any other dimension, giving them the confidence to make informed decisions.

Features

1. Native Integrations

Swift integration with data source systems is a crucial feature for any cash flow projection software. 

Any cash flow forecasting software for real time cash position needs to integrate with all the source systems containing the data you need for the job. This includes various accounting systems (e.g., QuickBooks, Xero) and banking platforms to seamlessly pull in financial data, such as income, expenses, and transactions so that you can drastically reduce the time spent on manual data entry and minimize associated errors. 

Drivetrain comes with 200+ native integrations that help you do automatic syncing of financial and business data from integrated systems (ERP, accounting, billing/invoicing, HRIS, CRM) to ensure that forecasts are always up-to-date. 

This creates a single source of truth with automated data mapping, ensuring a unified data source for accurate, on-demand (every hour or once a day) analysis and budgeting, based on the latest financial information.

Software/
Platform
DrivetrainVenaCubeMosaicWorkday Adaptive PlanningAnaplan
Native integrations with top 6 ERPs
Native integrations with top CRM, HRIS, Billing & BI tools
Integration with Excel and Google Sheets
Excel/CSV
upload
download

2. Predictive forecasting

Forecasting capabilities are essential to understand the cash flow in your business. With the ability to forecast, you can make more data-driven decisions both in terms of resource allocations in the short term as well as their long term strategic planning. 

For example, in Drivetrain, users can access historical data in real time and change assumptions all on the same screen to create forward-looking cash flow forecasts.

Software/
Platform
DrivetrainVenaCubeMosaicWorkday Adaptive PlanningAnaplan
Rolling forecast
Driver based forecasting
Pre-configured forecast methods
unknown

3. Scenario planning and what-if-analysis

The ability to perform scenario planning and what-if analysis allows users to assess the potential impact of different business decisions and external factors on cash flow. This feature helps in risk management and strategic planning

Cash flow forecasting informed by various scenario modeling provides a deeper understanding of your risk and opportunities relative to your cash flow and cash reserves. It basically enables you to stress test your assumptions on cash flow.  

Below are several more specific features that can improve your cash-flow forecasting.

Software/
Platform
DrivetrainVenaCubeMosaicWorkday Adaptive PlanningAnaplan
Sensitivity Analysis
unknown
What-if Analysis
Unlimited Scenarios

4. Collaboration with access control

Collaboration features allow multiple users to work on forecasts simultaneously and share insights with relevant stakeholders within the organization.

These features facilitate communication among team members involved in cash flow management, ensuring alignment on forecasts, assumptions, and strategies to optimize cash flow.

Also, with the right role-based access control, you can keep conversations private. Given cash flow discussions, this control enables finance teams to verify numbers and assumptions without everyone accessing it.

Software/
Platform
DrivetrainVenaCubePlanfulWorkday Adaptive PlanningAnaplan
Commenting Threads
Fine-Grained Role Based Access Control
Slack Notifications (approved Slack app)

5. Automated, real-time financial statements & reports with dynamic dashboards

Automated reporting saves time and helps to ensure that cash flow reports are generated consistently and accurately. Look for a cash flow forecasting software that offers both automated reporting and interactive dashboards with enriched reporting features for faster, more informed decision-making.

Software/
Platform
DrivetrainVenaCubePlanfulWorkday Adaptive PlanningAnaplan
Drill Down to Transaction-Level
Drill Down by Any Dimension
Global- and Chart-Level Filters
Automated 3-Way Financial Statements
Text Callouts/Notes in Dashboards
Reporting templates

6. Customizable forecasting models

Customizable multi-dimensional models allow businesses to accurately project future cash flows based on specific scenarios and assumptions. It enables you to forecast and re-forecast at the speed your business requires. 

The software you choose should also support connected 3-statement modeling which makes the bedrock of cash flow forecasting. It integrates the income statement, balance sheet, and cash flow statement such that changes in one statement dynamically reflect across the others to provide a holistic view of a company's financial health. 

With Drivetrain, changes in P&L and cash flow instantly reflect in the cash flow statement, helping you analyze the impact and make informed decisions. 

Software/
Platform
DrivetrainVena SolutionsCubeMosaicWorkday Adaptive PlanningAnaplan
Connected 3-statement modeling
Driver Based Forecasting
In-Memory Multidimensional Calculation Engine
Rolling forecasts
Multi Subsidiary Consolidation
Unlimited Planning Window (long range planning)
Natural Language Formulas
Model Templates

7. Customizable templates

Templates help you get started with cash flow forecasting quickly so you can start deriving value from day one. For example, with Drivetrain, one can connect their ERP/Accounting system like NetSuite or Quickbooks and come up with a 3-statement report within minutes and create metrics to add to reports like cash balance, net burn, runway trend, burn rate, collections, cash in and cash out, etc.

Software/
Platform
DrivetrainVenaCubeMosaicWorkday Adaptive PlanningAnaplan
Templates can be customized based on business maturity
Best practices, tips and advisory
unknown
unknown

8. Security & compliance

Compliance with financial regulations and industry standards, as well as robust security measures to protect sensitive financial data, are essential for any cash flow forecasting software. The table below provides some specific features you should look for related to security and compliance. 

Software/
Platform
DrivetrainVenaCubeMosaicWorkday Adaptive PlanningAnaplan
SOC 2 Type II
ISO 27001
unknown
Fine-Grained Role Based Access Control
Audit trails

9.Onboarding, training & customer success

Onboarding, training and customer success can make or break the value you’re able to derive from an investment in any software tool. Look for access to reliable customer support, comprehensive documentation, and training resources that together, ensure users can effectively use the software and quickly get answers to any issues or questions that arise.

Software/
Platform
DrivetrainVenaCubeMosaicWorkday Adaptive PlanningAnaplan
Implementation time
4-6 weeks
> 2 months
>2 months
>2 months
> 4 months
> 6 months
In-house implementation
Yes
No
unknown
unknown
No
No
White-glove onboarding
Self-service management (admin)
Dedicated customer support/success

FAQ

1. How long does it takes to implement Drivetrain?

Implementation time is a core consideration when choosing a cash flow forecasting software solution because it directly impacts your time-to-value and ultimately the ROI you’re able to achieve with it. 

With Drivetrain, you can count on being fully up and running in less than six weeks with white-glove onboarding from our in-house implementation team, which is hyper-focused on your success.   

2. How easy is it with Drivetrain to integrate with the different systems with the data necessary for cash flow forecasting?

Drivetrain integrates with all the systems you need to make getting the data necessary for cash flow forecasting fast and easy. With more than 200 native integrations, including direct sync with  Google Sheets and Excel spreadsheets, you can seamlessly connect and consolidate data from all your core systems with Drivetrain, including:

  • Popular ERP and accounting tools such as Oracle Netsuite, Quickbooks, Xero, and Sage
  • Any flavor of CRM you like, such as Salesforce, Hubspot, and SugarCRM
  • A wide range of billing and invoicing systems, including Chargebee, Zoho Subscriptions, and Stripe

Drivetrain also integrates with numerous HRIS, ATS, with BI and analytics tools like Looker, Tableau, and Power BI.  

No matter where your data lives, you can easily map it to Drivetrain to make consolidating the data you need for your cash flow forecasting simple.

3. Who uses cash flow forecasting software?

While the finance team is responsible for cash flow forecasting, anyone who needs to understand the company’s liquidity (e.g. investors) can use the software too, provided you grant them access.  

Drivetrain shines here, with a UI so intuitive that any stakeholder can use it successfully with a minimal learning curve. 

Different teams within your organization can leverage Drivetrain to meet a wide variety of planning needs in addition to cash flow forecasting. And with dynamic dashboards, they can easily share their results with other teams and company leadership, achieving the alignment needed for agile decision-making much easier.   

SaaS strategic finance goes far beyond just budgeting…

A modern FP&A software platform purpose-built for SaaS strategic finance can set the stage for predictable, accelerated growth. Here are a few resources to help you learn more about how to do that through budgeting and other important FP&A processes.

See how Drivetrain can make improve cash flow forecasting accuracy

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