Finance teams at large enterprises commonly use financial analytics software to analyze their organization’s investments across asset classes. These solutions collect all investment portfolio data, analyze and give suggestions for modifying it.
Financial analytics software throws up reports on possible investment opportunities, and CFOs can assess those viable options. Customizable tagging options are common in financial analytics software, allowing users to organize their data however they see fit. In order to assess previous investment decisions, keep track of current assets, and develop better investment plans, it’s common now to use financial analytics software.
Common Financial Analytics Software for 2022
1. Asset-Map
Asset-Map is a Software-as-a-Process application for asset management and investment. Analysts can use Asset-Map to create highly customized, design-focused presentations that help them make better financial decisions.
Asset-Map is typically part of the financial planning engagement process. Asset-Map is utilized by thousands of professionals throughout the world and has mapped more than 1 million individuals and $1.4 trillion in financial assets.
2. eMoney
This comprehensive and scalable application satisfies a wide variety of financial planning requirements. The platform helps to develop your business with its innovative planning software.
3. ReadyRatios
Using appropriate account statements and the ReadyRatios SaaS solution, you can easily determine the financial health of your company. In order to get real-time analysis, businesses only need to input the system with financial reports generated in accordance with UG GAAP or IFRS. Organizations can know their actual financial situation, as it computes and describe more than 40 rates and coefficients.
Even if statements are based on the same data, ReadyRatios’ multiple-choice conditional text module preserves the individuality of each report. Large tables can be condensed into compact charts with this tool without affecting the information’s integrity or accuracy in any way.
( Also Read: What Is Financial Analytics? )
4. Fathom
Developed to handle all of your company’s reporting and financial analysis needs, Fathom is easy-to-use financial management software. This tool provides a variety of in-depth analytics metrics that enables users to see precisely how well their business performs and progresses, observe trends, and discern improvement opportunities. MYOB, Excel, QuickBooks, and Xero are all integrated smoothly into Fathom software to provide users with detailed dashboards and insightful reports. This tool eliminates the need for cumbersome spreadsheets by allowing users to generate visually appealing and insightful business reports and analyses.
5. RightCapital
RightCapital, which was founded in 2015, is one of the fastest-growing financial planning tool with the highest levels of satisfaction among financial consultants. Financial planning has become easy thanks to its innovative and user-friendly features. From tax-efficient distributions and interactive retirement scenarios to student loan management to insurance evaluation, and estate planning, it simplifies financial planning so that everyone can understand how to better strategize for the future.
6. Qvinci
Multi-unit, nonprofit, franchising, and banking sectors can benefit from the business intelligence, financial consolidation, and reporting capabilities of Qvinci. Individual users can equally benefit from the software’s ability to provide real-time actionable data. It has active accounting software connections with Xero, Excel, MYOB, QuickBooks, and other programs. A variety of reports can be generated by Qvinci, including balance sheet, profit and loss, and cash flow. A PDF file can be created by combining multiple reports.
Security is a priority for the software’s creators. As a result, administrators can provide different levels of access permissions to employees and managers based on their position within the company.
7. Pepper
Pepper is a cloud-service investment data software that supports the decision-making infrastructure of investment managers. It includes a complete set of features that allow investment managers to generate a single golden source of data for all of their operational needs, compliance reporting, investor reporting, as well as analytics.
This cutting-edge digital data platform helps fund managers execute transactions quickly, accurately, and confidently. As each manager has their own distinctive fund structure and transaction flow, this financial service platform has been designed to be flexible and easy to customize so as to meet the evolving needs of credit funds, private equity funds, fund of funds, investment banks, family offices, and M&A advisory firms.
8. Altvia Answers
Timing is essential, and private equity (PE) firms must obtain an advantage in information in order to successfully compete for financing and deals. Altvia Answers is an end-to-end private equity business intelligence solution that connects to, converts, normalizes, and displays all of your data across platforms, making it easy to execute complex analysis at any point in time.
Altvia Answers gives data analytics to businesspeople without the assistance of IT, in order to answer the questions, you already know you have as well as those you haven’t discovered yet. As an all-encompassing solution, it eliminates error-prone processes and gives your company the ability to stand out in the marketplace by combining all of your data into a single source of truth.
9. Runway
The runway is a cash planning tool that assists companies in better identify, managing, and extending their business-relevant financial runway. It allows brands to get an accurate picture of their cash flow. Using Runway, even if users are unable to work with spreadsheets, they can still understand how their expenses have influenced the company’s cash burn.
In a matter of seconds, the tool may be used to create visually appealing charts. Users may see anticipated cash balances, net monthly gains or losses, and changes in burn rates on these graphs, as well as the most expensive months.
10. IndustryCFO
IndustryCFO is a financial analytics software that gives its customers excellent business intelligence solutions and ensures a successful outcome for their business ventures. Not only do business advisers have access to the platform’s intuitive expertise, but so do business owners and company executives alike.
It also provides valuable insights to help businesses grow in the form of analysis, reports, suggestions, and KPIs that are easy to understand. There is a Business Performance Scoreboard in the application that shows the financial health of a business and how to improve it.
Aside from that, this software delivers a full picture of the possible business risk and effective techniques for surviving market swings by analyzing the financial health of a company. In addition to determining a company’s financial viability, it further provides deeper insights into its liquidity, profitability, and other industry parameters. The Financial Statements Spreading feature embedded within the software can be used to examine a company’s financial data over time in order to identify trends and financial ratios in real-time.
Final Thoughts
Financial analysis will not only help you in understanding your company’s financial position, letting you estimate its creditworthiness, profitability, and potential to generate money but will also offer you a more in-depth insight into how well it actually functions internally.
Using the right technology can help you to reduce costs, and that is where financial analytics software come into play. By adopting the correct tool, businesses may accurately visualize the best course of action from the present moment of information to data management, predictions, and future decisions.
