The 5 Best Financial Forecast Modeling Software and Tools in 2022

Introduction

Building an accurate financial forecast model is essential for any business. Without them, it can be difficult to make informed strategic decisions about where to allocate your resources and how to grow your company.

In this article, we will review the best financial forecast modeling software and tools available on the market.

We’ll also discuss why each of these tools is a great option for businesses of all sizes. So if you’re looking for certainty that your next project will reach outstanding financial returns, look no further! These five financial forecast modeling software and tools are sure to meet your needs.

Our Experience

With over £ 2 billion in development over 10 nationwide projects, we understand that the financial performance of a project directly contributes to the bottom line of the business is made by outstanding financial forecasting. This safeguards against the risk, maximise opportunities and accounts for externalities that could impact the success of a development and is the backbone of any financial planning.

Here are some of the best we’ve come across for all levels of development.

What is Financial forecasting?

A financial forecast is a tool used by businesses to predict outcomes through the use of financial analysis using new historical data. Financial forecasts can be used to estimate revenue, expenses, growth and the returns of the project balance sheet. Financial forecast models are important for businesses to create because they provide financial statements about the company’s financial health and can help make informed decisions about the future income statement.

Why is Financial forecast modeling important?

Financial forecast modeling is important because it allows businesses to see into the future and make informed decisions about their project’s financial health.

This type of forecasting can help businesses avoid financial difficulties, plan for growth, and make investment decisions.

Specifically, Financial modeling can show a business where a project is weak in terms of high costs or low recoursed and can be used as a tool to plan and mitigate these risks and even turn them into an opportunity.

How can software and tools make for better financial forecasting?

While financial forecast models can be created without the use of software or tools, using them can make the process easier and more accurate.

There are a variety of financial forecast modeling software and tools available on the market, each with its strengths and weaknesses.

Choosing the right financial forecasting tool for your business will depend on your specific needs and goals.

Financial forecasting can be seen as a dark art and for complex projects, the FFM can appear daunting with hundreds of line items showing a multitude of variables. While this is great for granular detail it isn’t always necessary – the phrase sledgehammer to crack a walnut comes to mind.

Our List

We will be providing a list of FFMS that will fit every business need. from the simple headline items that will allow anyone to plug in and play to the billion-dollar business FFM required to ensure every variable and risk is considered and forecasted accurately.

Best Financial Forecasting tool for Starting.

Projection Hub

A small but mighty team of financial modeling consultants, who have been helping first-time projects and small businesses create investor and lender-ready financial projections since s 2012. 

Projection Hub specializes in creating custom financial models for: First-time projects looking to raise pre-seed, seed, and Series A funding, Small businesses looking to secure a loan, and Acquisitions of small businesses.

Since launching ProjectionHub has completed more than 250 custom financial models for dozens of industries. 

This is the perfect one-stop shop to get the exact guidance and resources you need to create your first bulletproof financial forecast model.

Key Features

• Built for simplicity with single-family or multi-family rental properties specifically
• Clearly show Net Operating Costs
• Rental Property Revenue Projections
• The model is automatically updated based on your assumptions
• Investor Friendly Key ratios table
• Love it or Swap it If the template you purchase is not the perfect fit

Final thoughts

For years we’ve seen financial modeling seen as a dark art through an overly complex financial forecast model – ProjectionHub allows you to show all risk and assumptions are accounted for without an overly busy interface. This truly is the best place to start for for any investor, developer or landlord looking to show clear concise clarity in projected returns

Best Overall Financial Modeling Tool

Quantrix

Overview

Quantrix Modeler is a cutting-edge business and financial modeling application which addresses the limitations and risks inherent in traditional spreadsheets.

Quantrix Modeler provides the most robust and flexible modeling environment for professionals who need to intuitively model financial and operational scenarios, using our proprietary super-fast multi-dimensional calculation engine.

Over 50,000 users in thousands of companies across all industries, including Corporate Finance, Real Estate & Investment, Energy, Agriculture and specialized Finance.

Key Features

• Fast Calculation Performance – flexible multi-dimensional modeling engine with unbeatable calculation performance.
• Unrivalled Flexibility – Handle billions of data points for thousands of users across different scenarios & models. Model any planning, forecasting, optimization or decision-making process.
• Eliminate Spreadsheet Risk – Reduce costs and risks by eliminating spreadsheets and consolidating redundant systems.
• Optimization and Solver – Leverage the built-in goal seek and multi-dimensional solver optimization engine out-of-the-box.
• Secure Role-Based Permissions – Ensure robust data level permissions across multiple user roles within a model.
• Maintainable and Auditable – Models that scale without the usual maintenance burden of traditional spreadsheets.

Final Thoughts

Quantrix is a disruptive technology that reshapes the way to approach Financial Forecasting and analysis and makes it possible to contribute a significant and measurable value-add

Best Financial Model On a budget 

Microsoft Excel

Overview

Microsoft has dominated the business industry for nearly 50 years for a reason!

For all of the expensive subscriptions and analytics programs, a huge amount of the work that we’ve seen produces million in project returns has been done through Excel software that you have on your computer.

With just a little bit of effort, you too can create a variety of financial forecast models, and investing the additional time and energy to learn about macros can give you even more options.

Key Features

• Easily create forecasts to predict trends with just a click
• Excel learns your patterns, organizing your data to save you time. 
• Easily create spreadsheets from templates or on your own and use modern formulas to perform calculations.
• New charts and graphs help you present your data in compelling ways, with formatting, sparklines, and tables to better understand your data.
• Share your workbook with others to help get work done faster. 
• Work within an Excel file from mobile, desktop, and web
• Automatically convert pictures into a fully editable table in Excel, and image recognition functionality eliminates the need to manually enter hard copy data.

Final Thoughts

Excel will be a staple of any business, the ease of access and ease of use coupled with the low cost makes this perfect for projects starting on a budget.

In addition to this due to the longevity and growth of the software over the decades there are thousands of free templated available to start your first financial forecast model immediately upon using the system.

Best Financial Forcasting tool for Large Business

Argus Developer

Overview

A powerful end-to-end management solution that allows you to gain complete control of your development project, from your initial Pro-forma and right through to delivery.

Leverage pro forma and feasibility templates to help you secure financing and import actual costs to stay on top of project cash flow.

Ensuring you deliver projects on time, and within budget.

Key Features

• Development pro forma and project timescales
• Project financing structures
• Scenario analysis and forecasting
• Cost control and project monitoring
• Stakeholder and investor reporting

Final Thoughts

If you’re looking for a system that can be updated and moved through the phases of development as your project transitions from phase to phase the ARGUS Developer is your system of choice.

Best Financial Forcast Models for Project by Project

Aparo

Overview

Aprao is an intuitive financial forecast modeling software that can save 80% on the time taken to run appraisals. That translates into a significant amount of value for businesses. 

The Aprao team are always making improvements which provides customers with a smoother and faster user interface.

Aprao is relatively new, but in a short time, they’re already up to speed with the demands of the industry and meeting those needs well.

Key Features

• Run financials from anywhere
• Avoid human error in risk and return analysis
• Assess projects effortlessly
• Share information effortlessly with direct links to information
• One live document for the project that everyone understands is the latest version
• Project manager dashboard and stakeholder reporting included

Final Thoughts

Aprao is built in collaboration with industry experts in property and development finance – to ensure they provide the accuracy, consistency, and efficiency needed to make faster and smarter business decisions. 

Our Final Words on Financial forecast modeling systems and tools

The financial forecast is a critical component of any business plan. It tells you how much money you can expect to bring in and how much you can expect to spend.

Financial forecasting can help you make informed decisions about your business. It can also help you secure financing from investors or lenders.

Financial forecasting is an evolving field that’s always changing. While it may be difficult to predict the future, one thing remains certain – the landscape of this market will change significantly in the next 12 months.

It pays off for businesses who invest now into tools designed specifically with their needs in mind so they can keep up-to-date on all changes made in the day-to-day process of evolving projects.

With that in mind, there are hundreds of financial forecast modeling software and tools available on the market. With our experience, we can say confidently that any of these top five systems will add value to your process no matter the size of your next project.