The world of finance is ever-evolving, and with the rise of technology, the way finance teams work is rapidly changing. As such, finance teams need to stay up-to-date with the latest technology to ensure they are maximising their productivity and efficiency. So, what are the Top 5 Apps for Finance Teams?
In this blog post, we’ll explore the top 5 apps for finance teams in 2023. From budgeting apps to cloud-based solutions, these apps will help finance teams stay organised, on track, and efficient. Let’s dive in!
Accounts IQ
A cloud-based solution, AccountsIQ helps simplify your finance functions. As a financial management system, it automates manual finance processes. This allows your finance team to focus on what matters most, growing your business. It provides multi-currency consolidation, business intelligence, and approval workflows to better facilitate this.
Key Features
- Over 250 in-built reports.
- Customisable dashboards and reporting with group reporting.
- Accessible on any device with internet.
- Better guarantees compliance
- Creates and maintains audit trail throughout
- Automated batch payment
- Full VAT capability and user profiling
- Secure payments
- Core financials for your business maintained in the Cloud.
Integrations
There are around 30 AccountsIQ integrations, including Kefron, Opera, ProForecast, Stripe Payments, Arlo, and the ability to create a custom integration.
Pricing
There are 2 pricing options for AccountsIQ, the essentials (AIQ1) package is around €225 per month, growth (AIQ2) is around €500, or you contact AccountsIQ directly for an customisable enterprise (AIQ3) package.
Kefron AP
Kefron offers a simple-to-use AP automation solution which can benefit your team greatly. As an app, it has improved efficiency, reduced errors, and saved time and money for many customers. By automating your invoice processing and eliminating manual inputting, it offers improved protection against errors, fraud, and improves cashflow for your business. You can read more on how it works and the benefits here.
Key Features
- Accessible through any device with the internet
- Up to 500 users at once both internal and external
- Provides dashboards for better visibility and analytics and shows you the exact ROI it provides
- Optical Character Recognition applied so all invoices are fully text searchable
- Customisable:
- Permissions
- Verification rules
- Approval process
- Eliminates:
- The need for physical invoices
- Manual entry
- Human error
- Delayed approval
- Duplicates
Integrations
There are several Kefron AP integrations, including AccountsIQ, Oracle, SAP, Sage, Microsoft Dynamics, and NetSuite.
Pricing
Kefron offers solutions that are customised to best suit each individual customer, so pricing is agreed on a case-by-case basis. For more information contact Kefron.
NetSuite
NetSuite is an Enterprise Resource Planning (ERP) software that many finance teams use to grow their business. Currently over 33,000 organisations worldwide use NetSuite. It is a cloud solution that combines and streamlines your business functions. From payment processing to marketing automation, it has your finance team covered.
Key Features
- Automates several financial processes
- Provides analytical dashboards and in-depth data analysis and reporting
- Companywide access with near-real-time data
- Professional Services Automation (PSA) to plan and track projects
- Integrated Customer Relationship Management (CRM) features, including:
- Contacts
- Order history
- Purchase orders
- Prospect status
Integrations
As part of Oracle, NetSuite has several inhouse apps, but it also integrates with Kefron, SAP, Avalara, Salesforce, Zapier, and the range of Google Apps.
Pricing
NetSuite charge an annual fee, for full details contact NetSuite.
Microsoft Teams
Most people know of Microsoft Teams. For those of you who don’t, it’s messaging, meetings, files, tasks, and calendars all in one app. One of finance teams most important tasks is getting payments through on time. This is made easier with Teams as queries or concerns can be addressed quickly. It integrates with many other popular messaging/call apps so if your supplier or client doesn’t use Teams it’s not a problem.
Key Features
- Unlimited instant messaging – both private and group. You can include your retention policy so chats are automatically deleted when they should be
- Create dedicated channels for specific topics
- Accessible on any device with internet
- Seamless collaboration with:
- Real time updates
- Multiple people able to edit documents at once
- Ability to grant external stakeholders, vendors, partners, etc. guest access
- Guaranteed security as all data is encrypted and Teams complies with all security legislations and standards, including:
- ISO 27001
- HIPPA
- SOC 2
- EU Model Clauses
Integrations
Microsoft Teams has over 600 integrations including Microsoft 365, Trello, Zoho, Slack, Zoom, Translator, and Bonusly.
Pricing
A free but limited version is available, or €3.40 per user/month. Microsoft 365 Business packages are also available, contact Microsoft for details.
Trello
Trello is used across many departments, including finance. It is a software which allows you to plan and track projects and workflows every step of the way. You can see who is doing what in real time. It is a very intuitive and customisable visual app. It provides better visibility to increase productivity across your team. Being able to track responsibility and assign tasks better ensures that payments go through on time.
Key Features
- Mobile apps available on IOS and Android
- Assign dates, users, and subtasks to individual tasks
- Utilises Butler to automate workflows without coding. You can set up custom board buttons to perform a series of actions as assigned by you
- Updated in real-time
- Customisable:
- Lists
- Boards
- Cards
- Graphic designs
- Hundreds of templates
Integrations
Trello integrates with almost 200 apps, including Microsoft 365, Slack, the Cloud, Zoho, Zapier, Evernote, and Google Drive.
Pricing
There is a very functional version of Trello available for free. There are 3 paid versions: standard is €5 – 6 per user/month, premium is €10 – 13 per user/month, and enterprise pricing is dependent on the number of users (ranges between €7.40 – 17.50 per user per month).
In conclusion, each of these apps have their own unique features and integrations which make them a great choice for all finance teams. With the right app, your finance team can help your business save time, money and increase overall efficiency. Make sure that your finance team is using the top 5 apps for Finance Teams.
