20 Best Financial Project Management Software Reviewed in 2024
Best Financial Project Management Software Tools Shortlist
Here's my pick of the 10 best software from the 20 tools reviewed.
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Selecting the right financial project management software can be a daunting task. You're looking for a way to manage your financial projects with precision, but the array of options can be overwhelming. I understand the challenges you face, and I'm here to guide you through the maze. With my extensive experience in digital project management, I've navigated through numerous software solutions to identify the most effective tools for financial project management.
Why Trust My Financial Project Management Software Reviews
I’ve been testing and reviewing financial project management software since 2012. As a project manager myself, I know how critical and difficult it is to make the right decision when selecting software. I invest in deep research to help my audience make better software purchasing decisions.
I’ve tested more than 2,000 tools for different project management use cases and written over 1,000 comprehensive software reviews. Learn how I stay transparent and my financial project management software review methodology.
Best Financial Project Management Software Summary
| Tools | Price | |
|---|---|---|
| Productive | From $9/month (billed annually) | Website |
| Microsoft Project | From $10/user/month (billed annually) | Website |
| ProProfs Project | From $39.97/month (billed annually) + free plan available | Website |
| Financial Cents | From $39/user/month (billed annually) | Website |
| Adobe Workfront | Pricing upon request | Website |
| Tempo Portfolio Manager | From $15/user/month (billed annually) | Website |
| Clarizen | From $45/user/month | Website |
| Harvest | From $10.80/user/month (billed annually) | Website |
| Jetpack Workflow | From $30/user/month (billed annually) | Website |
| Smartsheet | From $9/user/month (billed annually) | Website |
Compare Software Specs Side by Side
Use our comparison chart to review and evaluate software specs side-by-side.
Compare SoftwareHow To Choose Financial Project Management Software
As you work through your own unique software selection process, keep the following points in mind:
- Customization and Scalability: Financial project management software should adapt to your business's specific needs and grow with you. For instance, if your company specializes in construction, the software should allow for tracking of project budgets and expenses specific to construction projects. As your business expands, the software should be able to handle an increasing number of projects and users without compromising performance.
- Integration Capabilities: The ability to integrate with existing systems is crucial. A financial services firm might need software that can seamlessly connect with their accounting systems or CRM software, ensuring that all financial data is synchronized and up-to-date across platforms.
- Compliance and Security: Given the sensitive nature of financial data, the software must adhere to industry regulations and standards. For a healthcare organization managing financial projects, this means choosing software that is compliant with regulations like HIPAA to protect patient financial information.
- Real-time Reporting and Analytics: Access to real-time data helps in making informed decisions. A marketing agency might use this feature to track the budget spent on various campaigns, adjusting strategies on the fly to ensure the best use of resources.
- User Experience and Support: The software should be user-friendly and supported by reliable customer service. For a small business with limited IT resources, this means choosing software that is intuitive for all team members to use and backed by a support team that is readily available to assist with any issues that arise.
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Wrike
Visit WebsiteThis is an aggregated rating for this tool including ratings from Crozdesk users and ratings from other sites.4.2 -
Hub Planner
Visit WebsiteThis is an aggregated rating for this tool including ratings from Crozdesk users and ratings from other sites.4.2 -
Miro
Visit WebsiteThis is an aggregated rating for this tool including ratings from Crozdesk users and ratings from other sites.4.8
Best Financial Project Management Software Reviews
Discover detailed evaluations and summaries of top financial project management tools. Each review will cover the advantages and drawbacks, key features, and ideal scenarios for use.
Productive is a comprehensive project management tool designed to help agencies organize their operations, manage projects, and optimize financial performance.
Why I Picked Productive:
Productive stands out as a financial project management software because of its robust financial management features. It excels in budget tracking, profitability forecasting, and real-time financial reporting, allowing businesses to maintain a clear view of their financial health. The platform’s ability to integrate salaries and operating expenses into project budgets offers a real-time, accurate view of project profitability, eliminating the need for manual calculations and separate financial reports.
Standout features & integrations:
Features include resource planning, time tracking, vacation tracking, sales CRM, document management, detailed reporting, workload management, Gantt charts, budgeting and profitability analysis, invoicing, forecasting, purchase orders, revenue recognition, and overhead calculations.
Integrations include Jira, Slack, QuickBooks, Xero, Trello, Zapier, Google Drive, Sage, BambooHR, Gusto, and HubSpot.
Pros and cons
Pros:
- User-friendly interface
- Ability to track project profitability
- All-in-one platform
Cons:
- Could offer more integrations
- Initial setup can take time
Microsoft Project is a robust tool for managing projects, offering a suite of features to assist in planning, resource allocation, and progress tracking.
Why I Picked Microsoft Project:
I chose Microsoft Project for its ability to handle complex project requirements and its reputation for being a comprehensive solution in the project management space. It stands out for its depth and breadth of features that cater to detailed project planning and execution. I believe it is best for comprehensive project management because it provides a complete suite of tools that can manage every phase of a project lifecycle, which is essential for maintaining control over large and intricate projects.
Standout features & integrations:
Features include detailed Gantt charts, resource management, and built-in customizable templates. It also offers robust scheduling tools that can accommodate the complexities of large projects.
Integrations include Microsoft Teams, Microsoft Power BI, Microsoft Power Automate, Microsoft Azure, Microsoft 365, SharePoint, Skype for Business, Microsoft Dynamics 365, OneDrive for Business, and Outlook.
Pros and cons
Pros:
- Advanced analytics and reporting capabilities
- Integration with other Microsoft products for a connected experience
- Comprehensive feature set for end-to-end project management
Cons:
- Requires annual commitment for best pricing options
- Relatively high cost for premium plans
- Steep learning curve for new users
ProProfs Project is an online project management tool designed to facilitate team collaboration and ensure timely project delivery.
Why I Picked ProProfs Project:
I chose ProProfs Project for this list because it offers a unique blend of simplicity and power, making it different from other financial project management tools. Its user-friendly design and robust functionality make it an ideal choice for teams looking to collaborate effectively on financial projects. I believe it's best for project collaboration because it provides real-time communication capabilities, seamless file sharing, and customizable dashboards that keep everyone aligned and engaged.
Standout features & integrations:
Features include easy planning, tracking, and collaboration on projects. It offers various dashboard views, including List, Gantt, Kanban, and Calendar, to suit different preferences. The tool also enables efficient risk mitigation with smart reports and advanced analytics.
Integrations include Dropbox, Google Drive, Box, and other tools that facilitate file sharing and communication within teams. Additionally, it supports API access and single sign-on for secure and convenient user management.
Pros and cons
Pros:
- Real-time communication and collaboration tools
- Comprehensive feature set for project management
- Intuitive interface for easy adoption
Cons:
- Limited information on advanced features without a trial or demo
- Annual commitment required for the best pricing
- Single pricing plan may not suit all budget levels
Financial Cents is a tool that simplifies accounting firm management. It offers specialized features for managing accounting workflows and client relationships effectively.
Why I Picked Financial Cents:
I chose Financial Cents because it provides a dedicated solution for the challenges faced by accounting practices. It's best for accounting practice management as it enables firms to manage their workload, automate repetitive tasks, and collaborate on client work in a centralized location, which is crucial for maintaining an organized and productive practice.
Standout features & integrations:
Features include task management, workflow automation, time tracking, and a client portal.
Integrations include QuickBooks Online, Stripe, Gusto, Google Workspace, Microsoft Office 365, and Zapier.
Pros and cons
Pros:
- Client portal for streamlined communication
- Workflow automation to save time
- Tailored features for accounting firms
Cons:
- Base fee adds to the overall cost
- Minimum seat requirement may not suit solo practitioners
- Higher cost for monthly billing compared to annual
Adobe Workfront is a comprehensive solution for work management and automation. It is best for automating workflows and streamlining project management tasks.
Why I Picked Adobe Workfront:
I chose Adobe Workfront for the list because of its robust feature set that caters to the needs of modern businesses seeking efficiency in project management. Its capabilities in automating complex workflows set it apart from other financial project management tools. I believe Adobe Workfront is best for work automation due to its advanced automation features that can handle a variety of tasks, reducing manual effort and increasing productivity.
Standout features & integrations:
Features include work management, demand management, strategic portfolio planning, resource management, and collaboration. The Ultimate plan also includes automation, goal alignment, and scenario planning.
Integrations include Adobe Creative Cloud, Adobe Experience Manager, Microsoft Teams, Slack, Salesforce, JIRA, ServiceNow, Google Drive, and Dropbox.
Pros and cons
Pros:
- Comprehensive support and professional services
- Customizable to fit various business needs
- Advanced automation capabilities
Cons:
- The range of features could be overwhelming for users new to project management software
- May be complex to implement for smaller teams
- Pricing is not transparent and requires direct inquiry
LiquidPlanner is a dynamic project management tool that specializes in handling project uncertainty and adapting to change.
Why I Picked LiquidPlanner:
I chose LiquidPlanner for its distinctive predictive scheduling capabilities, which set it apart from other financial project management software. I believe it is best for predictive scheduling because it employs an advanced scheduling engine that forecasts project timelines by considering project complexity and team capacity, which is vital for managing financial projects.
Standout features & integrations:
Features include its predictive scheduling, which provides realistic timelines, and its priority-based planning, which ensures the most important work is completed first. It also offers integrated time tracking and analytics for insightful reporting.
Integrations include Box, Google Drive and Dropbox. Other integrations can be built via their Open API or Zapier.
Pros and cons
Pros:
- Integrated time tracking and analytics for detailed reporting
- Priority-based planning to focus on critical tasks
- Predictive scheduling for accurate forecasting
Cons:
- Limited customization options for certain features may restrict flexibility for some users
- Limited features on the free plan
- Annual billing is required, which may not suit all budgets
Clarizen is an enterprise work management solution that streamlines project management. It is recognized as the best tool for managing complex work across an enterprise.
Why I Picked Clarizen:
I chose Clarizen for this list because of its robust capabilities in managing work across the enterprise. Its comprehensive feature set and scalability make it a standout choice for large organizations. I believe Clarizen is best for enterprise work management due to its ability to handle a wide range of work management needs, from project management to configurable workflow automation, all within a secure and scalable platform.
Standout features & integrations:
Features include its extensive project and portfolio management capabilities, customizable workflow automation, and in-context collaboration tools. It offers a tailored, role-based experience that can adapt to the specific needs of different teams within an organization.
Integrations include Salesforce, Jira, Microsoft Teams, Google Workspace (formerly G Suite), Slack, Box, Microsoft Project, Power BI, Tableau, and Zapier.
Pros and cons
Pros:
- Scalable and secure platform for enterprise use
- Customizable workflow automation
- Comprehensive project and portfolio management capabilities
Cons:
- Occasional system slowdowns or glitches are reported by users
- Learning curve for advanced features may be steep for some users
- Pricing may be prohibitive for small businesses or startups
Harvest is a tool designed for time tracking and invoicing. It is recognized for its intuitive interface that facilitates time tracking for teams.
Why I Picked Harvest:
I selected Harvest because its user-friendly design promotes consistent use and precise time tracking. This ease of use sets it apart from other project management tools that may be more complex. I judge Harvest to be best for intuitive time tracking due to its straightforward user experience that encourages teams to engage in and sustain regular time tracking practices.
Standout features & integrations:
Features include easy time tracking, detailed reporting, efficient invoicing, and smooth payment processing.
Integrations include Asana, Slack, Stripe, Trello, Basecamp, QuickBooks, Xero, GitHub, Zendesk, and Salesforce.
Pros and cons
Pros:
- Broad integration with other tools
- Detailed reporting capabilities
- User-friendly interface
Cons:
- Free version restricted to one user and two projects
- Limited options for report customization
- Initial learning period for newcomers
Jetpack Workflow is a workflow and project management software tailored for accounting firms. It streamlines firm operations, ensuring nothing slips through the cracks.
Why I Picked Jetpack Workflow:
I chose Jetpack Workflow for its targeted design to meet the unique needs of accounting firms. Its focus on efficiency and organization makes it stand out from generic project management tools. I believe it's best for accounting firm efficiency because it provides specialized features that cater to the recurring tasks and workflow standardization that are crucial in the accounting industry.
Standout features & integrations:
Features include the ability to automate recurring tasks, manage team collaboration, and provide a template library for standardizing work. It ensures that deadlines are never missed and client work is consistently managed.
Integrations include QuickBooks Online, Xero, Zapier, Google Calendar, Outlook, Slack, Trello, and Asana.
Pros and cons
Pros:
- Offers a 14-day free trial and a 30-day no-risk guarantee for yearly plans
- Automates recurring tasks and standardizes workflows
- Tailored specifically for accounting firms
Cons:
- The platform may have a learning curve for new users
- Customizable setup and training services come at an additional cost
- Monthly plans do not offer refunds
Smartsheet is a platform for work management and automation. It is best for scalable project management due to its ability to standardize processes and integrate data across systems.
Why I Picked Smartsheet:
I chose Smartsheet for this list because it offers a unique combination of flexibility and security that can handle everything from small projects to large-scale processes and entire portfolios. Its ability to empower every user to plan, track, automate, and report on work makes it stand out from other project management tools. I believe Smartsheet is best for scalable project management because it provides the tools to establish best practices and deliver consistency and visibility at scale for work execution and reporting.
Standout features & integrations:
Features include project management with various views like Grid, Card, Gantt, or Calendar, team collaboration to execute with speed and accountability, and task automation to implement workflows quickly. It also offers content management, executive visibility with real-time project status, and easy-to-navigate apps that require no coding skills.
Integrations include Brandfolder, Microsoft Teams, Slack, Google Workspace, Salesforce, Jira, Dropbox, Box, Tableau, and Adobe Creative Cloud.
Pros and cons
Pros:
- Extensive integration options
- Powerful automation capabilities
- Flexible views for project management
Cons:
- Additional cost for advanced features
- Limited free plan functionality
- Can be complex for new users
Other Financial Project Management Software
Below is a list of additional financial project management software that I shortlisted, but did not make it to the top list. Worth checking them out.
Related Financial Project Management Software Reviews
If you still haven't found what you're looking for here, check out these tools closely related to financial project management software that we've tested and evaluated.
- Resource Management Software
- Workflow Management Software
- Time Tracking Software
- Task Management Software
- Collaboration Tools
- Productivity Tools
Financial Project Management Software Selection Criteria
When selecting financial project management software, it is crucial to consider both functionality and how well it addresses specific use cases that are most relevant to the buyer's needs and pain points. The software must cater to the financial management aspects of projects, ensuring that budgeting, expense tracking, and financial reporting are handled efficiently. My criteria are based on extensive personal trials and research into these tools.
Core Financial Project Management Software Functionality: 25% of Total Weighting Score
- Budget planning and forecasting
- Expense tracking and categorization
- Financial reporting and analysis
- Invoice creation and management
- Time tracking and billing
Additional Standout Features: 25% of Total Weighting Score
- Identification of innovative features not commonly found in other financial project management applications
- Examples of applications that incorporate advanced analytics, AI-driven insights, or real-time collaboration capabilities
- Evaluation of how these features contribute to a more effective financial management process
Usability: 10% of Total Weighting Score
- Assessment of the balance between powerful features and user-friendly interface design
- Consideration of intuitive navigation and interactive elements such as drag-and-drop functionality
- Evaluation of the aesthetic appeal of the interface and its impact on user engagement
Onboarding: 10% of Total Weighting Score
- Examination of resources provided for new users, such as training videos and templates
- Availability of interactive product tours, chatbots, and webinars to facilitate learning
- Evaluation of the overall ease with which new users can adopt and start benefiting from the application
Customer Support: 10% of Total Weighting Score
- Comparison of the availability and responsiveness of customer support teams
- Assessment of the variety of support channels offered (e.g., email, phone, live chat)
- Evaluation of the quality of assistance provided and the ability to resolve issues promptly
Value For Money: 10% of Total Weighting Score
- Analysis of pricing structures about the features and benefits offered
- Comparison of the application's cost-effectiveness against similar offerings in the market
- Consideration of flexible pricing options that accommodate different user needs and budgets
Customer Reviews: 10% of Total Weighting Score
- Examination of user feedback regarding the application's performance and reliability
- Assessment of the application's reputation within the user community
- Evaluation of the consistency of positive reviews and how they align with the application's claimed benefits
Trends For Financial Project Management Software in 2024
Financial project management software is evolving. Here are key trends shaping its future.
- Integration with AI and Machine Learning: Artificial intelligence and machine learning are being increasingly integrated into financial project management software. This integration allows for predictive analytics and improved decision-making. It's important as it can significantly reduce risks and increase project success rates.
- Enhanced Data Security Measures: Data security is a critical trend, with software now featuring advanced encryption and multi-factor authentication. These measures are vital for protecting sensitive financial data. Their importance is underscored by the growing threat of cyber-attacks.
- Adoption of Blockchain Technology: Blockchain technology is being adopted for its ability to provide transparent and immutable transaction records. This trend is interesting for its potential to reduce fraud and errors in financial projects. It also offers a new level of trust and efficiency in project management.
- User-Centric Design: There is a shift towards more user-friendly interfaces and personalized experiences in financial project management software. This trend is driven by the need for software that caters to non-technical users. It's important because it can lead to wider adoption and more efficient project management.
- Real-Time Collaboration Tools: Real-time collaboration tools are becoming a standard feature. These tools facilitate instant communication and updates, which is crucial for dynamic financial projects. This trend is important for maintaining team synergy and ensuring timely project delivery.
These trends are setting the stage for more intelligent, secure, and user-friendly financial project management.
What Is Financial Project Management Software?
Financial project management software is a specialized tool designed to manage and track the financial aspects of projects. It is used by project managers, finance teams, and stakeholders to plan, control, and monitor project costs and budgets.
The software includes features for budgeting, forecasting, expense tracking, and financial reporting. It is essential for users who need to maintain financial control over projects, ensuring costs stay within budget and financial objectives are met.
Features Of Financial Project Management Software
Financial project management software is designed to assist in planning, executing, and monitoring financial projects with precision and control. Here are the top features to look for:
- Budget Tracking and Forecasting: This feature allows for real-time monitoring of project finances. It is vital for maintaining financial control and preventing budget overruns.
- Expense Management: With this, users can record and monitor project-related expenses. It ensures accurate cost management and supports financial accountability.
- Billing and Invoicing: This functionality streamlines the billing process. It is essential for timely and accurate client billing, which directly impacts cash flow.
- Time Tracking: This feature enables the recording of time spent on project tasks. It is important for assessing project progress and resource allocation.
- Resource Management: This helps in allocating and managing project resources effectively. It is crucial for optimizing resource utilization and reducing waste.
- Risk Management: This feature assists in identifying and mitigating financial risks. It is important for proactive risk planning and can save a project from unforeseen financial pitfalls.
- Reporting and Analytics: With this, users can generate detailed financial reports. It is essential for informed decision-making and strategic planning.
- Integration Capabilities: This allows the software to work with other systems. It is important for maintaining data consistency and improving workflow efficiency.
- Customization: This feature lets users tailor the software to specific project needs. It is crucial to adapt the tool to unique financial project requirements.
- User Access Controls: This ensures that sensitive financial data is protected. It is important for maintaining data security and regulatory compliance.
The features listed above are not just checkboxes to tick off but are foundational tools that support the complex nature of financial project management. They provide the necessary structure and insight required to deliver projects on time and within budget, while also ensuring compliance and financial integrity.
Benefits Of Financial Project Management Software
Financial project management software offers a multitude of advantages for users and organizations looking to improve their financial planning, tracking, and reporting. Here are five primary benefits that can significantly impact the efficiency and effectiveness of financial management within projects.
- Improved Financial Visibility: Gain a comprehensive view of project finances. Financial project management software provides real-time insights into financial data, allowing users to make informed decisions and adjust strategies promptly to maintain budgetary control.
- Enhanced Decision Making: Make better financial decisions with accurate data. The software delivers precise financial reporting and analytics, enabling users and businesses to make strategic decisions based on reliable and up-to-date financial information.
- Increased Efficiency: Streamline financial processes and reduce manual workload. Automating financial tasks such as budgeting, expense tracking, and invoicing reduces the time and effort required to manage project finances, leading to increased productivity.
- Risk Mitigation: Identify and manage financial risks proactively. By providing tools to forecast financial outcomes and track budget performance, the software helps users anticipate and mitigate financial risks before they become critical issues.
- Collaboration and Communication: Facilitate better teamwork with shared financial data. Financial project management software enables team members to access and share financial information easily, fostering collaboration and ensuring that everyone is aligned with the project's financial objectives.
By leveraging financial project management tools, businesses can enjoy greater control over their financial planning and execution, leading to more successful project outcomes and overall financial health.
Costs And Pricing For Financial Project Management Software
The pricing of financial project management software can vary widely based on the number of users, the complexity of features, and the level of support provided. For software buyers with little to no experience using such software, understanding the different plan options and their pricing can be crucial in making an informed decision that aligns with their business needs and budget constraints.
Below is a table summarizing the plan options and their pricing for financial project management software, based on the research conducted:
Plan Comparison Table For Financial Project Management Software
| Plan Type | Average Price | Common Features |
| Free | $0 | Basic task management, to-do lists, native calendar, limited users |
| Individual | $3.66 per month | Advanced boards, increased storage, improved customer support, third-party integrations |
| Small Business | $8.90 per month/user | Gantt chart view, embedded documents, automation, increased support, integration with other tools |
| Medium Business | $16.88 per month/user | Advanced security, unlimited users, real-time reporting, various project views |
| Enterprise | Negotiable | Custom permissions, advanced reporting, priority support, comprehensive feature set, minimum user policy |
When considering a financial project management software plan, software buyers should evaluate the features against their specific project management needs and budget. It's also important to consider the scalability of the software as the business grows and the level of customer support offered.
Financial Project Management Software Frequently Asked Questions
What kind of data and analytics does financial project management software offer?
Financial project management software typically provides budget tracking, expense reporting, financial forecasting, and profitability analysis. These tools offer real-time insights into financial performance, allowing for informed decision-making based on up-to-date financial data. Advanced analytics can also identify trends, forecast future financial scenarios, and aid in resource allocation to keep projects within budget.
How easy is it to update the plan in financial project management software, and who makes the changes?
Updating plans in financial project management software is generally user-friendly, with most modern solutions designed for easy adjustments to project plans, budgets, and schedules. Authorized users, such as project managers and financial analysts, can make changes, and the software often includes audit trails and change logs for accountability.
What activities are required to get the most benefit from financial project management software?
Maximizing benefits from financial project management software involves setting clear financial goals, consistently updating and reviewing financial data, and utilizing reporting and analytics for decision-making. Effective team training and integrating the software with other business systems are also key activities for leveraging the software’s full potential.
How is financial project management software different from other project management solutions?
Financial project management software focuses on financial aspects of project management, such as budgeting, cost tracking, and financial reporting, unlike general project management solutions that may concentrate on task assignment and scheduling. This specialization allows for more detailed financial management within projects.
How will financial project management software help solve the top three problems currently faced in projects?
Financial project management software addresses common project issues like budget overruns, inefficient resource allocation, and lack of financial visibility. It provides accurate budgeting, real-time cost tracking, and financial forecasting tools, enabling project managers to monitor financial performance and address issues proactively.
What kind of support and training does financial project management software offer?
Support and training for financial project management software can include online help centers, user guides, and customer support via phone, email, or live chat. Providers may offer webinars, online tutorials, and in-person training sessions, as well as community forums for user interaction. The availability and quality of these services are important considerations when selecting software.
How does financial project management software integrate with other business systems?
Financial project management software can integrate with accounting software, CRM systems, ERP systems, and HR software. These integrations facilitate the seamless transfer of financial data, minimize manual data entry, and reduce errors. For example, integration with accounting software can streamline invoicing and expense tracking, while CRM integration can offer financial insights into customer projects.
Conclusion
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