Best of Finance Software 2021

January 6th, 2021 43 min read

For almost all businesses, an accounting or financial management
software is a must-have rather than a nice-to-have. For small
businesses, manually managing your business’s finances using
simple spreadsheet software can be difficult and time-consuming.
And for larger businesses, manual financial management is
nearly impossible. But sifting through the multitude of available
accounting products to find the options that truly fit your business
needs best can feel just as challenging.

We’ve compiled a list of the best Finance Software according to users in Customer Support, Usability, and Feature Set. With these three attributes, you can quit a competitive shortlist of financial products that are leading the pack for your most important factors.

Here are the Best of Finance Software for 2021:

Accounting
MIP Fund Accounting (formerly Abila MIP), Customer Support, 1st Place

Sage Intacct, Feature Set, Usability, 1st Place
MIP Fund Accounting (formerly Abila MIP), Usability, 2nd Place

Sage Intacct, Feature Set, 1st Place
MIP Fund Accounting (formerly Abila MIP), Feature Set, 2nd Place

Accounts Payable
Tipalti, Customer Support, 1st Place
Tipalti, Usability, 1st Place
Tipalti, Feature Set, 1st Place

Corporate Performance
Prophix, Customer Support, 1st Place
Vena Solutions, Customer Support, 2nd Place

Prophix, Usability, 1st Place

Vena Solutions, Feature Set, 1st Place
Prophix, Feature Set, 2nd Place

Expense Management
Expensify, Customer Support, 1st Place

Chrome River EXPENSE, Usability, 1st Place
Concur Travel and Expense, Usability, 2nd Place

Concur Travel and Expense, Feature Set, 1st Place
Chrome River EXPENSE, Feature Set, 2nd Place

Financial Close
BlackLine, Customer Support, 1st Place

BlackLine, Usability, 1st Place

BlackLine, Feature Set, 1st Place

Payroll
ADP SmartCompliance, Customer Support, 1st Place

ADP SmartCompliance, Usability, 1st Place

ADP SmartCompliance, Feature Set, 1st Place

Travel Management
TripActions, Customer Support, 1st Place
TripActions, Feature Set, 1st Place

Accounting Software 

For many businesses, accounting software is the backbone of a company’s finances. Used every day, this type of software must be tailored to different industries and include features like AP/AR software, invoicing capabilities, data security, and financial reporting. The following companies have a reputation for excellence and have been thoroughly reviewed by active consumers on TrustRadius, offering insight into the best packages on the market today. 

Best Customer Support – Accounting

Businesses large and small rely on accounting software not to only manage their day to day functions of business, but also in times of crisis. Having a solid customer support system is critical when time is of the essence and data has to be organized and accessible. This year TrustRadius is celebrating the companies that understand the nuances of running a business and are prepared to support their customers through whatever bump they encounter. 

MIP Fund Accounting (formerly Abila MIP), 1st Place

Customer Support Score: 8.2

MIP Fund’s Accounting software came in this year at the top of the list due to its reputation for speedy responses to client inquiries and efficiency at dealing with potential crises. Arthur K., the IT systems architect at Torres Martinez Tribal Tanf, wrote that “Each time we have called, our issue becomes the technician’s top priority and resolution has usually been achieved within an hour.”

Best Usability – Accounting

Given that most businesses rely on their accounting software every day, it has to be comfortable to use and functional. The usability of a product often determines if a company will continue to use that software or if they will switch to another smoother, more accessible product. This year’s award celebrates top-rated user-friendly software that will keep the business running and its user’s happy. 

 Sage Intacct, 1st Place

Usability Score: 8.2

The accessibility of Sage Intacct’s product is what sets it apart from competitors. Reviewers often cite how easy the software is to learn and how efficient it is once mastered. Jake W., a Billing Specialist, at Weave wrote “It is very easy to understand and one can adjust to the different features very quickly. We spend very little time training new employees on the ins and outs of Sage Intacct because it is so easy to get [the] hang of.

MIP Fund Accounting (formerly Abila MIP), 2nd Place

Usability Score: 8.1

Reviewers found that MIP Fund Accounting’s software was easy to use and reliable, especially for long time users of other products. “Everything is very intuitive and user friendly. The tabs and quick links make it very easy. The reporting can sometimes take a little time to navigate but once you learn it, it is very easy to use as well.”, is what a verified user and finance manager at a health and hospital company had to say about the product. MIP Fund’s software will keep things running smoothly.   

Best Feature Set – Accounting

This award highlights those products which can do it all, the ones with the features that bring users back, meeting both their needs and expectations. This software understands that each business may have industry-specific needs in their accounting departments and excel at meeting those needs with useful features that are easy to use and versatile. 

 Sage Intacct, 1st Place

Consumers found Sage Intacct to be flexible and customizable, with a wide range of features that allowed them to adjust for their individual company’s needs. Ranging from invoicing, ledgers, and security, users found that Sage Intacct offers appropriate scope for companies of all size. Tiffany S., an Accountant with the Bluegrass Community Health Center said, “General ledger automation is a huge time-saver…Role-based component access is also great for internal controls when dealing with company finances and striving to minimize any opportunities for fraudulent activity.”

MIP Fund Accounting (formerly Abila MIP), 2nd Place

The MIP Fund Accounting software offers a wide range of features and professional resources to facilitate trainings for new users. Consumers found that this product offers more features that don’t depend on third parties to execute.Wesley B., Director of Information Technology, at Callaway County found that, “MIP is very flexible and can be customized to your specific industry and needs… It has allowed us to customize everything based on our needs from managing funds to sources” 

Accounts Payable

Although accounts payable software is often included in larger software packages, oftentimes that software is not customizable enough to meet industry specific needs. Tipalti recognizes this gap in service and offers a highly rated package that helps companies meet demands of all types with a customizable software and a highly rated support team for any occasion. 

Best Customer Support – Accounts Payable

When it’s time to pay bills and make sure the due dates are met, it’s essential that the software being used is backed up by a great customer service team. Accounts Payable is an essential function in any business of any size, and while some larger software packages include this function, they may lack the tailored support and services of a smaller more finely tuned software. 

Tipalti, 1st Place

Customer Support Score: 8.3

Tipalti’s customer service is highly rated from the installation process to thorough pre-written FAQ’s. Their team is prompt in responding to any issues buyers may have with the software and are prepared to go the extra mile to ensure that their clients receive exceptional support. A  Verified User that is a customer service employee at a publishing house shared, “Since I also work in customer support, I often have to contact Tipalti’s team with questions from our users. Tipalti’s support team has always been exceptionally helpful and it was a pleasure to communicate with them. I have always received prompt responses to any inquiries and they are excellent at solving our customers’ issues within a short time.”

Best Usability – Accounts Payable

AP software is a program that sees use nearly every day in most businesses, and if it isn’t comfortable to use, it is likely to get dropped. If its consumers aren’t comfortable with the software or their ability to meet their payable obligations they aren’t likely to keep using it. With this in mind, this award celebrates software that is both effective and user friendly. 

Tipalti, 1st Place

Usability Score: 8.5

For a finance department that needs to manage a variety of payable accounts in a small amount of time, Tipalti has no equal. Comfortable for users to access and customize, they make sure clients can quickly learn their system and Taylor it to their own needs. A controller at Ironsource Inc., David A., reviewed Tipalti, saying, “Tipalti helps us manage a lot of payments in each cycle to all around the world. That kind of service allows us to work worldwide and help us to monitor and audit our payment cycle in a very efficient way.”

Best Feature Set – Accounts Payable

AP software may be included in larger software packages, the functionality may be limited, failing to allow companies to make payments in different types of currency or to a number of creditors at the same time. This award recognizes the importance of a finely tuned instrument, one that has all the features needed to be customized for any industry. 

Tipalti, 1st Place

Cherith A., a staff accountant at RealWear Inc shared that for their business “Tipalti solves multiple problems for us, including reminding approvers to approve bills timely, simplifying the vendor payment process for AP to initiate payments, enhancing security around vendor registrations and banking details, and streamlining bill processing and approvals.” Tipalti’s extra edge comes from the software’s custom set of features that leave users satisfied and with a process that meets their industry-specific set of needs. 

Corporate Performance

Designed to support companies in meeting their target goals in areas such as financial planning, budgeting, and forecasting, corporate performance software can be a critical tool for finance departments. This software has to be easy to use and have a variety of features that industries can specify to meet their model-specific goals. The companies listed here are the top in their field according to TrustRadius reviewers and are guaranteed to give a useful overview to guide financial decision making. 

Best Customer Support – Corporate Performance

Corporate Performance software can be large packages with a variety of features and functions, making them potentially confusing or overwhelming. Both Prohpix and Vena Solutions offer valiant customer support teams that meant clientele needs promptly and effectively, making sure that their software is a cut above the rest. 

Prophix, 1st Place

Customer Support Score: 9

For Corporate Performance software to function meaningfully, it has to come with a team of capable professionals to see it through implementation, day to day use, and any challenge that might arise. Prophix has managed to put together a team that hits each of those marks. Tom S. , a financial analyst at Milo’s Tea Company, Inc explained that “We have been using Prophix for a little over two years. The implementation team was great to work with. They understood the capabilities of Prophix and how to incorporate it with our needs. Once we were up and running the customer service team was a great resource to bounce questions off.” 

Vena Solutions, 2nd Place

Customer Support: 8.8

Following close behind Prophix, Vena Solutions offers a competitive customer service package, that responds promptly and capably to queries on a variety of topics. When reviewing Vena Solutions,  Ezra C., an analyst in human resources at Applus Technologies, wrote, “Technical support helped us with the first setup, guided us through the installation process, and gave us tips for improvement as we progressed through the use. The response was quick and we were treated very kindly, we sincerely felt at ease.” 

Best Usability – Corporate Performance

This software category, competitors can’t only offer a powerful processor that guides a company’s financial monitoring and goals, it has to be easy to learn and use to have true staying power in the industry. Prophix offers software that manages to be both effective and useful but also comfortable for consumers and accessible to new users. 

Prophix, 1st Place

Usability: 8.3

Dan H., a Senior Financial Analyst at Moneris, wrote about his company’s experience with Prophix, remarking, “Great for budgeting when multiple inputs are required across the organization. It is very helpful to have possible Excel templates for people who refuse change and are not into learning new software. Data is housed efficiently and it’s easy to do ad hoc analysis. Prophix is very easy to use and it has a nice interface.” 

Best Feature Set – Corporate Performance

Corporate performance software is only as good as the features that it offers, and thus it has be both consistent in quality but offer a breadth of features that company’s feel will maximize their purchase benefits. With that in mind, Vena Solutions leads the pack, followed closely by their competitors, Prophix. 

Vena Solutions, 1st Place

Vena Solutions can help users accomplish a wide variety of tasks in a number of different ways, allowing companies to build a system that works for their unique model and industry. Be it forecasting, budgetary management, or profit/loss monitors, Vena Solutions offers a software that packs a punch. Radu C., an FP&A Manager at BSI Group Americas Inc., had this to say about their company’s experience, “We use Vena Solutions to facilitate our annual budgeting and quarterly forecasting processes. With Vena, we were able to develop more flexible and dynamic input templates. We were also able to benefit from a quick consolidation process where we can see the results from different entities in seconds.” 

Prophix, 2nd Place

Following close behind Vena Solutions, Prophix also offers a competitive feature package, including a versatile process for forecasting, detailed line item reviews, and customizable workflows. Prophix corporate management software offers specific tools that helps users use the software effectively within the context of their own environmental requirements. Account at Community Playthings, Albert K.. shared “We use Prophix for Capex planning and project management including variance analysis budget vs actual, internal reporting, and consolidated external reporting. Prophix replaces time-consuming Excel processes to compile complex reports. Workflows streamline monthly processes and support multi-level approvals.” 

Expense Management

Keeping track of budgets, be it annual, quarterly, or weekly, is a critical function for any business, large or small. It requires solid lines of communication between employees who keep track of their own hours, accountants in charge of managing books, and supervisors that need to approve budgets and expenses. This category celebrates those software creators that put the consumer experience at the forefront, from customer service to a useful array of features. 

Best Customer Support – Expense Management

Budgetary processes often proceed along a very specific clock, and if there is software malfunction, it is critical that it be resolved in a timely manner so that business can keep running. It is expected that this type of product have a great customer service team that are available in the 11th hour. 

Expensify, 1st Place

Customer Support: 8.6

Expensify outstrips its competitors on the review boards, with most contributors noting that customer service is rarely required because the program runs so well. It is a cut above the rest with it’s available staff and tutorial videos for those learning how to use the software. Ryan N., VP of Tech at Urban-Go, said, “It is great because the product is solid to begin with. We rarely have to interact with support, and when we do it is quick and easy. Most of the issues can be resolved by poking around or manually doing something. Most of the time it is flawless, so even manual workarounds are limited.” 

Best Usability – Expense Management

Expense software is not only used on a daily basis, but it is also used by a variety of business components. That means that as software anyone has to be able to use it, at any time. The following software packages are expense management programs that are easy for everyone to use, not just one employee with specialized training. They offer easy interfaces and convenient menus to keep the cogs turning in any situation. 

Chrome River EXPENSE, 1st Place

Usability Score: 8.2

Chrome River EXPENSE offers a comfortable and fun interface, that reduces the stress of tracking expenses, making it pleasant to use. Chrome River EXPENSE keeps lines of communication open and helps everyone efficiently fulfill their obligations. Catherine M., an accountant and travel administrator at the University of North Carolina Asheville, wrote “Our motto has always been to “not complicate” and to “keep it easy for the user”. Chrome River gives us the ability to get the detailed data that we need in order to process expenses yet still keep the entry of the expense very user-friendly and less time restrictive for the traveler.” 

Concur Travel and Expense, 2nd Place

Usability Score: 8.1

When an employee is on the move and needs to log their transactions, Concur Travel and Expense makes it easy to do. They offer an app platform in addition to the desktop service that allows an integrated system to keep everyone on budget and on the same page. Liliya C., a Premier Banker 2 at Wells Fargo commented that “It was easy to use, you can access everything from the home page, every drop-down menu is self-explanatory. Submitting receipts is simple, it’s good that it allows to save and attach them to each expense. You can save lots of receipts and when you create new expenses, you can select from the receipts that are saved.” Concur Travel and Expense offers a comprehensive package that is easy to use and easy to learn. 

Best Feature Set – Expense Management

With so many moving parts involved in the process of tracking expenses, it’s important that any software in this category offer a variety of services and those services are high functioning and cutting edge. These software packages offer their users functionality and tools to tailor the program to their unique needs, protecting against fraud, keeping employees aware of their expense approvals, and sending reports to financial managers. 

Concur Travel and Expense, 1st Place

“We use Concur Travel and Expense across our entire organization as our central expense management system. We are able to set policies and limits on what different departments are able to spend before being flagged, and produce reports based off  expense categories. The flexibility of this software makes it easy for companies both small and large to use.” Kenny M, an IT Infrastructure Manager at Pace Supply commented about Concur Travel and Expense. This software makes it easy for individuals to access important data and only shows them the information they need to see to complete their tasks, keeping finances streamline and efficient. 

Chrome River EXPENSE, 2nd Place

Chrome River EXPENSE is a competitive system, designed with a variety of features in mind for users. Reviewers noted Chrome River’s variety of functions that manage nearly all aspects of their expense reporting, including travel expenses. The program offered by Chrome River EXPENSE is dynamic but has a lot to offer to anyone looking for a multi-use expense management tool.  Lorrie B., a Senior Business Analyst, at the University of New Mexico said that, “Our entire organization uses Chrome River for travel & expense reimbursements for employees, students, and non-employees. We also utilize Chrome River’s dynamic programming to reconcile our company issued PCards and Non-PO vendor payments. We were looking for a solution to simplify the process, the tool needed to be flexible, route electronically, integrate with our PCard system, and we needed the ability to access the tool from anywhere.” 

Financial Close

At the end of the quarter, when it’s time to close the books and balance nominal funds, finance departments need dependable software that keeps things digital and eliminates time-consuming paperwork. BlackLine sweeps this category, collecting top ratings for customer support, usability, and a diverse feature set, marking it as a clear favorite of the industry. 

Best Customer Support – Financial Close

Closing the financial cycle, be it quarterly or annual, can be a stressful time without technical issues, making it even more critical that any software in use come with an efficient support team to keep things running and on track. Quick responses and effective solutions combine to make these softwares competitive and cutting edge. 

BlackLine, 1st Place

Customer Support Score: 8.8

BlackLine’s customer support team is widely lauded on the website’s TrustRadius review page. Consumers frequently mention the speed of replies to inquiries and the effective solution reached by their representatives. BlackLine offers a competitive package complete with a 24-hour helpline, a live chat option, and a ticketed helpdesk. 

“Our support people always get back to us quickly and provide effective solutions to our problems and answers to our questions. When there’s no quick fix, they keep us apprised of progress. We’ve successfully resolved many problems, such as updating our certificates, with very little unnecessary back-and-forth or wasted time.”

Jennifer N., BlackLine Application Administrator, Expedia

Best Usability – Financial Close

This category of software doesn’t have staying power if it doesn’t have well-designed interfaces, easy to learn application functions, and streamlined task assessment. At the end of a financial cycle, users expect to be more focused on completing their tasks than wrestling with a complicated user interface. 

BlackLine, 1st Place

Usability Score: 8.8

BlackLine offers an unmatched, user-friendly experience to those responsible for the financial close process. Ensuring that menu’s are self-explanatory and that functions are streamlined for user efficiency, BlackLine has put together a package focused on elevating the user experience.  Michael R., Senior Manager Corporate Accounting at Covanta Energy LLC, commented on BlackLine’s usability, noting “Overall, the product performs well and has reduced the company’s closing cycle. From uploading large amounts of data to preparing/approving reconciliations, the UI experience is second to none and very easy to use.”  

Best Feature Set – Financial Close

For the user experience to be effective, financial close software has to offer powerful functions that can replace the need for outdated spreadsheet models that failed to integrate data in a useful way. Whether balancing accounts or reconciling budgets, the software mentioned here goes above and beyond in the services offered to consumers. 

BlackLine, 1st Place

BlackLine leads the pack, helping to streamline and centralize information for finance teams, making it easy to access data and gain insight into the financial status of any organization. Designed to be useful to businesses both large and small, BlackLine offers a powerful set of features that replaces clunky excel sheets and manually written financial reports.  Maxwell M., a Senior Accountant at Unico Technologies, shared the impact BlackLine has had on their business, stating, “Previously we had a very archaic process that was driven by excel spreadsheets and manual checklists. This product also increased our general transparency across entities as we can now easily look into the reconciliations and accounts of foreign entities that we previously did not have access to.”

Payroll

Payroll is the lifeblood of any accounting department, every employee depending on receiving their paychecks on time, expecting that their information is kept safe and secure, and relying on payroll to accurately track taxes and wage garnishment. With this in mind, ADP SmartCompliance has created a product that meets user’s expectations and remains a solid choice for any business looking for new payroll software. 

Best Customer Support – Payroll

If payroll gets behind everyone gets cranky, so it is a no brainer that any software of this type requires a competent and responsive customer support team. Be it a live chat session to resolve an issue or a submitted query to a helpdesk, this software will make sure that if something goes wrong, it doesn’t go wrong for long. 

ADP SmartCompliance, 1st Place

Customer Support Score: 8.1

ADP SmartCompliance ensures that their customers have all the support they need to avoid any unnecessary stress about software issues. ADP has created a product that supports customers through any unforeseen technical difficulties and helps smooth the process for users.

“I have never had an issue getting help for any question I had. The teams are very responsive and always follow up in a timely manner with any questions that I have had. And in the world of payroll timing really is everything!”

Susan N. | Payroll Manager | J.Jill. 

Best Usability – Payroll

Given that payroll is an essential function in any business, no matter the size, it needs to be user friendly and easy to access. Companies depend on their payroll software to perform a variety of tasks and to save consumers time by streamlining those processes and eliminating messy spreadsheets. 

ADP SmartCompliance, 1st Place

Usability Score: 8.2

ADP SmartCompliance offers a product that prioritizes the user experience, ensuring that finance departments are able to navigate the interfaces easily and learn about new updates. Good software is software that manages to update with the market and adjust to new technologies, which can be found in ADP SmartCompliance offering. Johnny M, a Human Resources System Management Specialist at Big 5 Sporting Goods reviewed the product, saying,  “Usability is very easy and the system is always being improved to make it as user friendly as possible.” 

Best Feature Set – Payroll

Payroll is more than just making sure employees get paid on time. It helps companies track wage garnishment, manage federal and state taxes, and prepare for potential audits. With that in mind, payroll software has a number of roles to feel to keep consumers satisfied and renewing subscription commitments. 

ADP SmartCompliance, 1st Place

ADP SmartCompliance has managed to compile a program that leads in industry standards, ensuring that they have all the features to make the payroll experience as functional as possible. Derek W. VP, HRIS & Payroll,  at NGL Energy Partners stated about the software that “[The ADP SmartCompliance] software tools have provided immediate insight to where we are for all activities and tasks as it relates to the full payroll process. We now spend time on audits and strategic reviews in place of tedious, routine tasks that previously consumed staff time. ADP provides us the opportunity to be most proactive in our approach to balancing taxes, improving time to deliver and reducing our efforts maintaining and tracking issues; which have become almost non-existent.” 

Travel Management

Travel management is a critical software for any finance department, with employees on the road, it is expected that this software effectively book trips and help emplooyees integrate their personal travel preferences with the guidelines of their employing company’s. TripActions offers a travel management software that is lauded both for it’s excellent customer support and innovative feature set. 

Best Customer Support – Travel Management

There is nothing worse than being stranded in an airport or struggling to wrest a reimbursement from a travel fund. Travel management software sets out to eliminate these uncomfortable realities of business travel, helping employees go where they need to by putting them in the driver seat and standing by to be of assistance just in case. 

TripActions, 1st Place

Customer Support Score: 9.4

TripActions has created an innovative platform that makes sure employees can handle their travel details with the support of a capable and professional team of customer service representatives. Eliminating the time-wasting process of sitting on hold while elevator music plays, they offer customer service consultation through text message and live chat.

“The best customer service team I have ever used, I tell them that every time we finish a dilemma, I may have had. For example, I had to cancel a flight, and I wanted to be reimbursed for it, and instead of staying on the phone with a rep for an hour and taking time out of my day, a few short text messages to the customer service team within the pp got it figured out.” Recruiter, Bright Edge

Maureen T. | Recruiter |Bright Edge

Best Feature Set – Travel Management

The software for travel management has to be capable of smoothly booking flights, handling reimbursements, and safeguarding data. This software is most useful when it has a wide array of features to help users reach their destinations with as little turbulence as possible. 

TripActions, 1st Place

TripActions leads the pack with its centralized software package, allowing users to handle their own travel obligations but still remain under company oversight and guidance. This is an innovative hybrid of manual travel management and a professional travel management company. Matthew A. the communications coordinator for Sasaki Associates, stated, “TripActions is used across our entire organization. In the past, we had a travel agency that helped book and manages travel for our company. Still, since moving to TripActions, it’s empowered employees to handle and manage their own business travel with an easy-to-use platform.”

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