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Small Business Budgeting Software

Updated on March 23, 2011

Several years ago, software programs that were available to business owners were focused primarily on the needs of very large businesses. Small business owners often found that these programs were much more complex than necessary for small businesses—and were often overwhelming.

Today, many types of software are available that are designed specifically for small business. Most of this software covers all aspects of business management. However, some focus on specific items. Small business budgeting software has become a powerful tool for small business owners. Budgeting software for business helps small business owners develop an operating budget and then monitor performance against this budget throughout the year.

Focusing on the budget is necessary to help your small business succeed. Good budgets allocate financial resources and forecast cash flow to help business owners measure the success of their business’s performance. A successful small business should be able to adhere closely to the budget and correct deviations from the budget. Here are three types of budgeting software to help your small business grow and thrive.

1. Microsoft Forecaster

Microsoft Forecaster is a good choice for small business because it interacts with other Microsoft small business software, making your processes more efficient. This also makes it easier for small business owners to incorporate this software with other Microsoft programs. Business owners who use Microsoft Forecaster report that the program is intuitive, and its similar appearance to other Microsoft products makes it familiar and user-friendly.

2. Budget Maestro

Centage offers Budget Maestro, which constantly tracks income statements, balance sheets, and cash flow. The benefit of this product is that it combines forecasting software and budgeting software into one easy-to-use product. For the small business owner with little staff time to dedicate to budget tracking on a daily basis, this is particularly useful. Users appreciate Budget Maestro’s sophisticated logic.

3. Applix Budgeting TM1

The Applix Budgeting TM1 budgeting software program is designed to interact with Excel spreadsheets, making it an ideal product for the small business owner who uses Excel and is looking for an upgrade to a more business budget-specific program. Its forecasting features are particularly useful.

No matter what small business budgeting software you use, you should consider how user friendly it will be for you and your staff to use. After all, even the most sophisticated program will not do you much good if you do not have the time or skills to use it. Of course, the cost of the software may also be a consideration. However, look at budgeting software as an investment in your future bottom line.

Image Credit: alancleaver_2000, Flickr

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