Budgyt vs. IBM Planning Analytics

Overview
ProductRatingMost Used ByProduct SummaryStarting Price
Budgyt
Score 8.9 out of 10
Mid-Size Companies (51-1,000 employees)
Budgyt is a platform made to simplify business budgeting. With built-in functions designed for data integrity, team collaboration, and scenario planning & analysis, Budgyt is presented as an optimized budgeting experience that rids users of complex, error-prone spreadsheets and the time-consuming upkeep they require. It provides users navigable dashboards, drill-downs through data hyperlinking, formulas built away from the user interface, and automatic consolidation. With…
$499
per month Departments
IBM Planning Analytics
Score 8.3 out of 10
N/A
IBM Planning Analytics, powered by IBM TM1®, is an integrated planning solution designed to promote collaboration across the organization and help keep pace with the speed of modern business. With its calculation engine, this enterprise performance management solution is designed to help users move beyond the limits of spreadsheets, automating the planning process to drive faster, more accurate results. Use it to unify data sources into one single repository, enabling users to build…
$825
per month 5 users
Pricing
BudgytIBM Planning Analytics
Editions & Modules
Non-Profit - Easy
$399
per month 12-month annual subscription
For Profit - Easy
$499
per month 12-month annual subscription
Non-Profit - Plus
$799
per month 12-month annual subscription
For Profit - Plus
$899
per month 12-month annual subscription
Non-Profit - Pro
$1,299
per month 12-month annual subscription
For Profit - Pro
$1,399
per month 12-month annual subscription
Essentials
$825
per month 5 users
Standard
$1,650
per month 10 users
Offerings
Pricing Offerings
BudgytIBM Planning Analytics
Free Trial
YesYes
Free/Freemium Version
NoYes
Premium Consulting/Integration Services
YesYes
Entry-level Setup FeeRequiredOptional
Additional DetailsMulti-Year discounts available.
More Pricing Information
Features
BudgytIBM Planning Analytics
BI Standard Reporting
Comparison of BI Standard Reporting features of Product A and Product B
Budgyt
-
Ratings
IBM Planning Analytics
8.9
82 Ratings
11% above category average
Pixel Perfect reports00 Ratings8.473 Ratings
Customizable dashboards00 Ratings9.382 Ratings
Report Formatting Templates00 Ratings8.977 Ratings
Ad-hoc Reporting
Comparison of Ad-hoc Reporting features of Product A and Product B
Budgyt
-
Ratings
IBM Planning Analytics
8.8
87 Ratings
6% above category average
Drill-down analysis00 Ratings9.385 Ratings
Formatting capabilities00 Ratings9.386 Ratings
Integration with R or other statistical packages00 Ratings7.566 Ratings
Report sharing and collaboration00 Ratings8.983 Ratings
Report Output and Scheduling
Comparison of Report Output and Scheduling features of Product A and Product B
Budgyt
-
Ratings
IBM Planning Analytics
8.3
85 Ratings
2% above category average
Publish to Web00 Ratings7.880 Ratings
Publish to PDF00 Ratings9.379 Ratings
Report Versioning00 Ratings8.379 Ratings
Report Delivery Scheduling00 Ratings7.670 Ratings
Data Discovery and Visualization
Comparison of Data Discovery and Visualization features of Product A and Product B
Budgyt
-
Ratings
IBM Planning Analytics
7.9
85 Ratings
4% above category average
Pre-built visualization formats (heatmaps, scatter plots etc.)00 Ratings9.385 Ratings
Location Analytics / Geographic Visualization00 Ratings8.180 Ratings
Predictive Analytics00 Ratings7.676 Ratings
Pattern Recognition and Data Mining00 Ratings6.89 Ratings
Access Control and Security
Comparison of Access Control and Security features of Product A and Product B
Budgyt
-
Ratings
IBM Planning Analytics
9.1
88 Ratings
5% above category average
Multi-User Support (named login)00 Ratings9.686 Ratings
Role-Based Security Model00 Ratings9.687 Ratings
Multiple Access Permission Levels (Create, Read, Delete)00 Ratings9.688 Ratings
Report-Level Access Control00 Ratings8.713 Ratings
Single Sign-On (SSO)00 Ratings8.282 Ratings
Mobile Capabilities
Comparison of Mobile Capabilities features of Product A and Product B
Budgyt
-
Ratings
IBM Planning Analytics
7.4
78 Ratings
7% below category average
Responsive Design for Web Access00 Ratings7.577 Ratings
Mobile Application00 Ratings6.941 Ratings
Dashboard / Report / Visualization Interactivity on Mobile00 Ratings6.950 Ratings
Budgeting, Planning, and Forecasting
Comparison of Budgeting, Planning, and Forecasting features of Product A and Product B
Budgyt
-
Ratings
IBM Planning Analytics
9.3
92 Ratings
11% above category average
Long-term financial planning00 Ratings9.590 Ratings
Financial budgeting00 Ratings9.592 Ratings
Forecasting00 Ratings9.592 Ratings
Scenario modeling00 Ratings9.591 Ratings
Management reporting00 Ratings8.791 Ratings
Consolidation and Close
Comparison of Consolidation and Close features of Product A and Product B
Budgyt
-
Ratings
IBM Planning Analytics
8.5
86 Ratings
6% above category average
Financial data consolidation00 Ratings9.382 Ratings
Journal entries and reports00 Ratings8.377 Ratings
Multi-currency management00 Ratings8.876 Ratings
Intercompany Eliminations00 Ratings7.576 Ratings
Minority Ownership00 Ratings6.869 Ratings
Local and consolidated reporting00 Ratings9.579 Ratings
Detailed Audit Trails00 Ratings9.381 Ratings
Financial Reporting and Compliance
Comparison of Financial Reporting and Compliance features of Product A and Product B
Budgyt
-
Ratings
IBM Planning Analytics
8.7
87 Ratings
6% above category average
Financial Statement Reporting00 Ratings9.583 Ratings
Management Reporting00 Ratings8.884 Ratings
Excel-based Reporting00 Ratings9.586 Ratings
Automated board and financial reporting00 Ratings8.876 Ratings
XBRL support for regulatory filing00 Ratings6.955 Ratings
Analytics and Reporting
Comparison of Analytics and Reporting features of Product A and Product B
Budgyt
-
Ratings
IBM Planning Analytics
9.1
88 Ratings
12% above category average
Personalized dashboards00 Ratings9.387 Ratings
Color-coded scorecards00 Ratings9.383 Ratings
KPIs00 Ratings9.486 Ratings
Cost and profitability analysis00 Ratings9.486 Ratings
Key Performance Indicator setting00 Ratings9.485 Ratings
Benchmarking with external data00 Ratings7.958 Ratings
Integration
Comparison of Integration features of Product A and Product B
Budgyt
-
Ratings
IBM Planning Analytics
8.9
88 Ratings
7% above category average
Flat file integration00 Ratings8.985 Ratings
Excel data integration00 Ratings9.586 Ratings
Direct links to 3rd-party data sources00 Ratings8.178 Ratings
Best Alternatives
BudgytIBM Planning Analytics
Small Businesses
MIP Fund Accounting
MIP Fund Accounting
Score 8.7 out of 10

No answers on this topic

Medium-sized Companies
Centage
Centage
Score 9.6 out of 10
Centage
Centage
Score 9.6 out of 10
Enterprises
Oracle Fusion Cloud ERP
Oracle Fusion Cloud ERP
Score 8.1 out of 10
Oracle Fusion Cloud ERP
Oracle Fusion Cloud ERP
Score 8.1 out of 10
All AlternativesView all alternativesView all alternatives
User Ratings
BudgytIBM Planning Analytics
Likelihood to Recommend
8.9
(29 ratings)
9.5
(98 ratings)
Likelihood to Renew
9.1
(5 ratings)
9.1
(5 ratings)
Usability
8.9
(10 ratings)
8.2
(63 ratings)
Support Rating
8.6
(5 ratings)
9.3
(88 ratings)
Implementation Rating
9.1
(3 ratings)
-
(0 ratings)
Product Scalability
9.0
(9 ratings)
9.1
(1 ratings)
User Testimonials
BudgytIBM Planning Analytics
Likelihood to Recommend
Budgyt
I'm sure that Budgyt would not be the most appropriate solution for large, complex organizations with numerous entities or overly complicated structures. Those org's likely have solutions within their ERPs or other sophisticated finance systems with budgeting/reporting capabilities that mirror Budgyt, making it redundant. However, for an easy, and relatively cheap solution to meeting those needs, as well as forecasting and analysis, I would recommend Budgyt to anyone with the need.
Read full review
IBM
I would be likely to recommend IBM Planning Analytics, particularly in scenarios where comprehensive financial and operational planning is essential. For instance, in our construction company, it is awesome for optimizing resource allocation across multiple projects, creating detailed project budgets, and conducting risk analysis to mitigate project uncertainties.
Read full review
Pros
Budgyt
  • Combining departments (components of an entity or a component of various entity's income statement) or isolating departments (small slivers) of an entity's income statement. We can look at specific departments of specific entities together, with ease.
  • Splicing / flipping reports into countless formats. Helpful for users of the financial statements that digest data/numbers differently than the financial accountants who prepare the numbers.
  • It is relatively easy to import data from our Jonas accounting program into Budgyt.
  • We've had prompt customer service when we've encountered issues and they were readily available during implementation.
Read full review
IBM
  • Forecasting after taking into account seasonal trends and exceptional transactions
  • Unlike spreadsheets, there is no fear of an user making changes to the mastercopy accidentally. Each user gets his or her own workspace to analyze.
  • For entities operating in multiple countries, connects seamlessly with IBM Cognos Controller for taking into account variation in currencies
Read full review
Cons
Budgyt
  • Inside setting up HR forumlas, it should give more than one filter criteria.
  • Application got slow after putting the information of HR module and formuals, need to speed up.
  • Selection of multiple companies with different GLs can be an option where it is lacking.
  • Didn't see the multicurrency feature, can be a good add on.
Read full review
IBM
  • IBM Planning Analytics was an upgrade from an older version of TM1 that is experiencing some growing pains, some functionality is harder to reach than it has been in the past
  • It is easy to learn as a surface user with created reports, but it does require some technical skills to make advanced calculations and reports if there is no reliable consultant available, much like Excel
Read full review
Likelihood to Renew
Budgyt
Our organization has increased our level of financial reporting and decreased the time it takes to build a budget with the Budgyt platform. Because our budget managers have access, it allows them a higher level of ownership for their areas.
Read full review
IBM
Since IBM Cognos Express is suitable only for medium data warehouse environment, we are not sure if this tool solves the long term need as the business keeps growing rapidly. So its a 50/50 ratio to renew Express license. But having said that, the components of IBM Cognos Express are also available in other Cognos BI suites like Cognos 10.x version. So we will probably upgrade our environment to IBM Cognos 10.x which comes with more new features.
Read full review
Usability
Budgyt
Has the spreadsheet feel without the clunky formulas. Prior years monthly numbers easily visible on the data sheet to compare with. Easily run various reports on the dashboard. Easy to clone/create new scenarios. Custom template to import GL detail the way want to see it. User friendly for non-finance managers to use. Options to add comments on data sheet. Approval process - easy of viewing what needs to be approved.
Read full review
IBM
For developers, admins and end users looking for flexibility, IBM Planning Analytics would rate very highly on usability. For example, a developer has access to a highly performant built-in ETL (Extract Translate Load) tool and scripting language called Turbo Integrator that can (among other things) bring in data via flat file or direct connection from many data sources, move data around Planning Analytics, perform batch calculations, export to files or other data stores. In the rare situation where limitations are encountered there is a well documented REST API. Admins and end users benefit from the intuitive PAW (Workspace) interface as well as the rich Excel integration through Planning Analytics for Excel (PAfE). Since flexibility inherently comes with a little more complexity, so an organization with simple and "cookie-cutter" requirements may rate Planning Analytics a little lower.
Read full review
Support Rating
Budgyt
During my first year of working within the budget software, I had to go through some training while trying to meet deadlines for meetings. The team at Budgyt was very accommodating and made sure I was equipped with the knowledge that I needed to be successful
Read full review
IBM
Although I find the IBM Planning analytics documentation quite time consuming, their support with email and call is something i can term as very considerate and patient, I have had few calls about the features and how i would want to implement them within my projects, and the teams have been super helpful to resolve my issues
Read full review
Implementation Rating
Budgyt
We were fortunate to have the founder lead us through a video conference to teach our users how to use the system. Totally invaluable!
Read full review
IBM
No answers on this topic
Alternatives Considered
Budgyt
Forecaster was terrible. We switched from that. We looked at multiple products, either too expensive or not user-friendly. We switched 4 years ago. I do not recall the companies we visited back then. There are certainly more on the market now, but I have no interest in switching as our entire office loves the product.
Read full review
IBM
Anaplan does not handle sparsity; this is very problematic for large volume data sets (many 0's). There also are limitations to the number of dimensions that can be used in a module. If more dimensions are required, then separate modules need to be built and intertwined. IBM PA does not have these limitations.
Read full review
Scalability
Budgyt
Budget scenarios are amazing, when it comes to educational funding, were always having to pivot. Having multiple scenarios for financial planning is key to being economically sustainable. We can quickly add services or staffing based upon funding adjustments/projections and see if they will work in our current climate. This supports leaderships ability to make quicker decisions.
Read full review
IBM
No answers on this topic
Return on Investment
Budgyt
  • We have had better control on labor cost. The software has helped us project when we need to add new employees to handle our contact center volume.
  • Running different budget scenarios helped us navigate the impact of Covid on our business.
Read full review
IBM
  • One of the advantage is on its ability to ease budget and planning
  • Secondly,the fact that it allows for forecasting means based on such insights means that organisations are able to prepare for future eventualities
  • Thirdly, since it can accommodate data from multiple sources means that one is able to carry out best business practices like planning.
Read full review
ScreenShots

Budgyt Screenshots

Screenshot of DashboardScreenshot of Manage Scenarios (Budgets)Screenshot of Copy DataScreenshot of Data SheetScreenshot of Manage C2C's (Category to Category Formulas)

IBM Planning Analytics Screenshots

Screenshot of Workflow managementScreenshot of Income statementScreenshot of Margin analysisScreenshot of Metrics managementScreenshot of Income statementScreenshot of Expense analysis