Top 5 Financial Management Solutions Of 2022

Managing your finances can sometimes be a difficult task. It sounds clichéd but it is true. Don’t believe us? You can ask Lord Baelish, who keeps account of every coin spent or received in Westeros. He decides the budget for every small or big event that should be celebrated, as well as for other things in Westeros. The gist is, being the Master of Coins, he has to keep an account of every coin which makes him even more worried about saving, budgeting and investing. Well, his worries can be waived off with Financial Management Solutions!

The billion-dollar question is – what are Financial Management Solutions? These solutions come in handy with functions that help your business improve short and long-term performance by streamlining invoicing and bill collection and other financial processes!

With so many options available on the market, choosing the right Financial Management Solutions becomes quite difficult. To help you with this daunting task, we have shortlisted the top 5 Financial Management Solutions of 2022. Delve deeper into the article and find the right one for you!
 

Top 5 Financial Management Solutions Of 2022

Financial Management Solutions, also known as financial management systems, are the software an organization uses to manage assets, income and expenses. It also performs various functions like reducing accounting errors, maintaining audit trails and ensuring compliance with applicable accounting standards. Cool, right?

We have created the list of the top 5 Financial Management Solutions of 2022. Choosing the best one for your business (or maybe for the small council) is still your call. (Disclaimer – the order is random, select wisely).
 

Sage Intacct	SAP S/4HANA	Workday Financial Management
OneStream	Oracle Fusion Financials

 

Tool 1: Sage Intacct

Since 1999, Sage Intacct Inc. has been the leading cloud Financial Management Solutions provider for small and medium-sized businesses. It provides services in five regions, including the United States, Canada, the UK, Australia and South Africa. If we look at its achievements, Sage Intacct has received the Gold Medal honor along with the highest overall score in the ERP Data Quadrant Awards by SoftwareReviews in 2021. Kudos, Sage!


You may ask, what is so fascinating about Sage Intacct? It offers a diverse suite of accounting, cash management, purchasing, vendor management, financial consolidation and revenue recognition tools. Guess what, all these features are delivered through the cloud! This means that with Sage Intacct you can get the real-time visibility you need without the cost, risk and complexity of a traditional on-premises system. Now, Lord Baelish has one thing less to worry about.

Above all, Sage Intacct is used by thousands of organizations, from start-ups to public companies, to make finance more productive and improve company performance.  The features that make it even more enticing are accounts payable and receivable by automating manual Accounts Payable (AP) features, streamlining procurements and payments, maintaining consistency, minimizing manual processes, getting sales and finance on the same page and visibility of all transactions.
 

Tool 2: SAP S/4HANA

The next on our list is SAP S/4HANA. Founded in 2010, it is SAP's Enterprise Resource Planning (ERP) platform for large enterprises. It is the newest version of SAP R/3 and SAP ERP and is optimized for SAP's in-memory database, SAP HANA. As a global company, it has employees from 150+ countries. In 2021, Capterra, an online marketplace vendor, recognized SAP S/4HANA as the top performer in the Enterprise Resource Planning Software category.


Do you know how Lord Baelish makes decisions about the financial management of any event? He makes sure that every possibility should cross his way before coming out with the latest budget. Somewhat like doing an end-to-end analysis of every single factor involved. This trait of Littlefinger can be seen in SAP S/4HANA. It enhances the agility of your finance processes and gains end-to-end analytics. In addition to this, it also offers unified transactions, analytics and planning to improve the entire financial lifecycle. Also, it provides actionable insights and recommendations at the point of decision for real-time evaluation. You can also rely on SAP S/4HANA for subscription billing, which offers complete visibility into customer credit and the ability to deliver consolidated invoices. Apart from this, it also manages your customer's credit score and resolves any disputes, cost management and profitability, financial operations and treasury management.
 

Tool 3: Workday Financial Management

Workday Financial Management, founded in 2005, has been recognized by Gartner for Cloud Core Financial Management Suites. Workday provides financial management, human capital management and analytics tools for the world's largest companies in both private industry and government. Its customers include KeyBank, Rocket Mortgage, Life Time, AT&T, Morgan Stanley and other big names.


Chaos isn’t a pit. Chaos is a ladder.

Taking this wise advice from the Lord Baelish, let’s use Workday Financial Management as a ladder to settle your financial chaos! As it helps you with building an adaptative, global foundation for your business. Not only does it provide organizations with the core financial management capabilities expected from a cloud solution but it also goes well beyond these to achieve greater insight and improve consolidation time. It also helps instil internal controls and auditability for consistency across your global operations.  Its in-memory technology makes your tasks such as transaction processing, multidimensional reporting, consolidation, planning and compliance easy-peasy with a consistent user experience accessible from a desktop or mobile device. How cool is that!

A lot can happen with this solution. You don’t believe us? Look at its features, which can also help you with intelligent optimization by using Machine Learning to optimize your processes. It can transform business event data into accounting data to proactively manage risk and monitor financial compliance.
 

Tool 4: OneStream

OneStream Software LLC is a software company founded in 2010 that develops corporate performance management software for mid-sized to very large-sized enterprises. It has won many recognitions in the past years, including Gartner's recognitions for Cloud Financial Close Solutions in 2021. It has also been recognized as a market leader by FeaturedCustomer Spring - 2022. Do you need to know more about why this tool made it to our list?


OneStream Software provides a market-leading intelligent platform that simplifies the complexities of financial operations. It unleashes the power of finance by unifying Corporate Performance Management (CPM) processes such as planning, financial close management and consolidation, reporting and analytics through a single extensible solution. #SolutionToFinancialWoes

With OneStream, organizations conquer complexity and speed across multiple financial sources. You can also unify key finance processes, turn data into actionable insights and more to help your business grow with confidence. Just the way how Lord Baelish works in the small council! Not only this, OneStream can also be trusted with planning, budgeting, forecasting, reporting, analytics and Business Intelligence (BI) and provide financial data quality. It also eliminates risks that come with complex data integrations and validation issues between antiquated products and services.
 

Tool 5: Oracle Fusion Financials

The oldest company of all on our list is Oracle Corporation. Founded in 1977 and headquartered in Austin, Texas, Oracle Corporation ranked second in revenue and market capitalization in 2021. Its Financial Management Solution, Oracle Fusion Financials, is a cloud-based, global support solution that can work in over 26 languages. Oracle was named the overall winner of Ventana Research's 15th Annual Digital Innovation Awards in June 2022. That’s how cool Oracle is!


Oracle Fusion Financials is an end-to-end business management solution designed for midsized to enterprise companies. It offers a suite of applications, including material planning, financial accounting, analytics and self-service reporting. Just like Lord Baelish, who, along with being Master of Coins, had other duties to perform as the Lord of Vale.

Oracle Fusion Cloud Financials enables finance to be effective, productive and efficient by streamlining processes and providing fast business decisions. With Oracle Financials Cloud, you can have a comprehensive global solution for your business across industries. It also provides continuous innovation in financial technologies such as mobile, social media, machine learning and analytics, which are deployed via the cloud. #AchieveMoreWithLess

Apart from all this, Oracle Fusion Financials provides scalable enterprise structures for large enterprises to model their business, supporting unlimited accounting and statutory reporting needs, all in a single solution using customized preferences. This also helps global businesses adapt and modify the software for specific regions or countries without implementing it multiple times. #SmartWork
 

It's The End

 
Whether you're trying to find a way to save money, manage it better or make more, it can be difficult to know where to start. Well, not anymore! This list aimed to sort your financial management hassles through a dedicated tool – Financial Management Solutions! From accounting to employee compensation to everything in between, this tool can help you better manage your finances and lead to more productive financial operations.

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