How can you find the best budgeting and forecasting software for small businesses?

Consider the specific features you need. Do you require basic budgeting functionalities, or do you need advanced scenario planning and forecasting capabilities?

Determine your budget for budgeting and forecasting software. There are options for all price points, from free to enterprise-level solutions.

Start by exploring popular budgeting and forecasting software options designed for small businesses. Utilize software review platforms like G2, Capterra, or Software Advice to read reviews and compare features of different options.

What more to consider: 1. Ease of use: Select software that is user friendly and easy to use. Small businesses often don't have a dedicated finance team so the software should be easy for non-finance users to understand and navigate. 2. Reporting and Analysis: The software should provide reporting and Analysis feature to track budget performance, compare actual versus budgets and generate insightful financial reports. 3. Cost and Affordable: evaluate the cost of software, including any subscription fee or setup cost and ensure it fits within your budget. Consider whether the software offer a free trial or a scalable pricing model based on your business need.

1. Free or cheap 2. Less complexity in processes 3. Low maintenance 4. Supported in current system they are using 5. Accessible on mobiles 6. Customisable reports, graphs, dashobards. 7. Export Import supported through Ms Excel/PDF

At this point, budgeting and forecasting software is still heavily dependent on user input for accuracy - even when integrated with historical financials. Much of the software out there eidetically rinses and repeats previous data and doesn't have the knowledge that the small business owner or manager does - to know which new revenue streams are projected, when you are hiring new staff and payroll will rise, which expenses were eliminated from the budget, etc. So while budgeting and forecasting software can be very useful (especially when integrated with accounting software for easy budget versus actuals comparison), it isn't magic and still need your thoughtful input to make it accurate!

Here are other points to consider: 1. Identify your needs: Consider your company's size, industry, and specific requirements. 2. Test trial versions: Use free trials to assess functionality and ease of use. 3. Check integrations: Ensure the software integrates with other tools you use. 4. Consider customer support: Evaluate the quality of support offered. 5. Analyze cost-benefit: Compare prices and benefits of each option. 6. Verify security: Ensure the software follows good security practices and compliance. 7. Join communities: Exchange experiences in small business forums. 8. Consult a specialist: Ask accountants or financial consultants for recommendations.