TrustRadius: an HG Insights company

Forecastr

Score10 out of 10

2 Reviews and Ratings

What is Forecastr?

Forecastr gives startup founders a financial model that can be use to get funded. It is presented as a simple and convenient interface that takes the guesswork out of financial modeling. The vendor aims to offer models that are easy to understand, easy to use, and easy to share with investors and stakeholders.

Every new Forecastr customer is supported by a pair of expert financial analysts. They work alongside the user to build a fully-customized model that captures every nuance of unique business operation. After the initial build is complete, Forecastr analysts stay in touch to make sure the model is regularly maintained and updated, to get maximum value and utility.

Top Performing Features

  • Long-term financial planning

    3-5 year financial plan with cashflow.

    Category average: 9.2

  • Financial budgeting

    Annual budget for revenue and operating expenses, headcount/compensation, capital expenses, projects, etc.

    Category average: 9.5

  • Forecasting

    Combining actuals and budgets, rolling forecasts, driver-based models.

    Category average: 9.4

Areas for Improvement

  • Budget Customization

    Customizable templates and forms for performance visualization

    Category average: 9

  • Departmental Budgeting

    Division of budget across multiple departments according to an individual team's spending and resources.

    Category average: 8.7

  • Import & Export Tools

    Importing of financial data to accurately budget resources and exporting of reports to share across your organization.

    Category average: 8.4

Financial Forecasting & Budgeting With Clarity & Excellent CFO Support

Use Cases and Deployment Scope

We use Forecastr for the financial modeling with customer acquisition by service/source, visually seeing how each revenue stream is producing month over month and into the next 24 months, costs of each person in the organization, expenses and budgeting, assets and liabilities, and equity. We also utilize their CFO services which are phenomenal!

Pros

  • Their onboarding with experienced CFO's is extremely helpful
  • Their forecasting revenue models are easy to understand
  • The budgeting and expenses section is better than anything else I've ever seen before.

Cons

  • More youtube videos on walking through the software would be cool.

Return on Investment

  • With clear data, I'm able to make better financial decisions on hiring/spending

Alternatives Considered

QuickBooks Online Advanced, NetSuite ERP, Xero and Wave Accounting

Other Software Used

QuickBooks Online Advanced, Semrush, Ahrefs, Canva