20 Best Financial Reporting Tools for 2025

Financial reporting software simplifies organizing, analyzing, and presenting financial data. Automating key tasks like generating income statements, balance sheets, and cash flow reports ensures accuracy and compliance with accounting standards, saving you time and effort.

Choosing the right financial reporting software can reduce the hours spent managing finances by up to 50%. It’s crucial to pick a solution that fits your company’s needs and scales with your goals.

This article will explore the 20 best financial reporting software in Singapore for 2025. Ready to streamline your reporting? Try our free demo today and see how it can help your business thrive.

20 Best Financial Reporting Software – Highlights

• HashMicro: Bank integrations & auto reconciliation for accurate financial data.
• Datarails: Automated data analysis with visual financial reports.
• Vena: Excel-based interface with Power BI & PowerPoint integration.
• LicenseOne: Optimize SaaS spending and track software usage.
• Phocas: Advanced analytics with interactive financial dashboards.
• FreshBooks: Bank account sync for automatic financial tracking.
• Sage: Full audit trails for financial data integrity.
• Tipalti: Streamline global accounts payable & procurement.
• Insightsoftware: ERP integration with customizable financial reporting.
• Xledger: Real-time financial insights for business snapshots.
• Workiva: Automated financial document collaboration.
• Tagetik: What-if scenario analysis for financial planning.
• Planful: Operational & financial intelligence for planning and budgeting.
• Anaplan: End-to-end business performance monitoring.
• Prophix: Automated budgeting & forecasting for accurate planning.
• Workday: Flexible financial modelling for quick adjustments.
• Cube: Streamlined financial report compilation and tracking.
• Jedox: Robust data security for financial planning integrity.
• Syntellis: Enhanced database administration for accurate reporting.
• OneStream: Unified financial consolidation of operational data.

What is Financial Reporting and Analysis Software?

Did you know financial reporting software can simplify managing your finances and provide clearer insights? It automates complex tasks, making financial data more accurate and accessible. Primarily used by financial teams, it helps ensure compliance and supports informed decision-making.

By automating data collection and analysis, this software saves time and reduces errors. It’s essential for businesses aiming to optimize financial strategies, manage spend aggregation, control costs, and drive growth, while aligning financial data with company goals for long-term profitability.

20 Best Financial Reporting Software in 2025

The right financial reporting software is more crucial than ever to ensure accuracy, efficiency, and strategic insight. In this context, we’ve curated a list of Singapore’s 20 best financial reporting software options.

1. HashMicro Financial Reporting Software

HashMicro is one of Singapore’s top financial reporting software solutions, known for its reliability and precision. With more than 1750 clients, HashMicro helps businesses streamline their financial processes effectively with its comprehensive software solution.

HashMicro offers a range of benefits such as unlimited user licenses, free demo service, comprehensive features, and the ability to integrate various modules. 

Designed to meet the needs of every industry, HashMicro is especially useful for enterprises and large-scale businesses. Its scalability and robust functionality support complex financial management requirements.

Key features:

• Bank Integrations – Auto Reconciliation: HashMicro streamlines reconciliation by automatically matching bank transactions with recorded entries. This reduces discrepancies, ensures accuracy, and simplifies end-of-period reporting.
• Multi-Level Analytical: Businesses can analyze financial data across departments, projects, or other levels of detail. This supports in-depth reporting and informed decision-making.
• Profit & Loss vs. Budget & Forecast: Compare actual results with budgets and forecasts to identify performance gaps. This feature supports timely adjustments and more accurate future planning.
• Financial Statement with Budget Comparison: HashMicro enables direct comparison of financial statements against budgetary projections. This highlights variances, improves financial governance, and supports strategic management.
• Cashflow Reports: Gain a clear view of liquidity and financial health by tracking cash inflows and outflows. These reports help assess operational efficiency and the ability to meet short-term obligations.
• Custom Printouts for Invoices: Tailor invoice documents to align with branding and compliance needs. Customization ensures professional and transparent communication with stakeholders, supporting audits.

If you’re curious about HashMicro and willing to explore its full potential, you can find a price scheme to download below.

2. Datarails Financial Reporting Tools

Datarails is a cloud-based financial planning and analysis platform that specializes in automated data analysis. It offers easy-to-understand charts, graphs, and data visualizations that help demystify complex financial data. This functionality enables users to quickly update data in management reports, thereby enhancing the effective monitoring of company and financial performance.

However, it lacks significant workflow and collaboration capabilities, which are crucial for teams that require real-time interactions and data sharing across departments. Additionally, Datarails offers only a limited number of basic reporting templates, which may not meet the needs of all users.

3. Vena Financial Reporting Systems

Vena combines the flexibility of Excel with the robustness of a complete financial planning and analysis (FP&A) platform. It automates many essential financial consolidation and reporting processes. Integrations with Microsoft Power BI and PowerPoint enhance the familiarity of its Excel interface.

However, the initial setup process can be time-intensive, potentially delaying the full deployment and utilization of the software. Additionally, Mac users might encounter compatibility issues, which could limit the software’s functionality and user experience on Apple devices.

4. LicenseOne Financial Performance Software

LicenceOne is primarily designed as a software management platform that aids businesses in managing their software subscriptions efficiently. By focusing on cost optimization, spend management, and app usage tracking, LicenceOne helps companies avoid overspending on SaaS subscriptions.

However, LicenceOne has certain limitations that may affect its utility for some businesses. While it excels in license management and the automated tracking of SaaS usage, its integrations with third-party systems, especially accounting software, are limited. This could restrict its effectiveness for companies looking for a seamless integration across all financial management systems.

5. Phocas Financial Reporting Solutions

Phocas is an automated financial reporting software that empowers organizations with advanced data analytics, visualization, and reporting capabilities. It supports businesses in enhancing their data-driven decision-making by integrating with a wide range of data sources, such as ERP and CRM systems.

Meanwhile, Phocas needs a steep learning curve for new users, particularly those keen to leverage its full potential. Additionally, the initial setup and configuration of the software can be time-consuming, which might delay its integration into daily operations.

6. FreshBooks Financial Statement Software

FreshBooks is accounting software primarily for small businesses, freelancers, and solopreneurs. It offers key features like annual and interim financial statements, bank account synchronization, and detailed tax reporting that streamline various financial tasks.

However, it has certain limitations that might not suit every business. It lacks a complete audit trail, which is crucial for businesses that need detailed records for financial scrutiny or regulatory compliance. Additionally, FreshBooks limits the number of billable clients, which might hinder scalability for growing companies or those with a large client base.

7. Sage Business Cloud Accounting

Sage Business Cloud Accounting is a cloud-based financial reporting tool that offers affordability and simplicity, particularly appealing for small teams and startups. It covers all basic financial reporting needs, including full audit trails, cash flow management and forecasting, automated tax reporting tools, and inventory tracking.

However, it has some limitations. The API integration capabilities are not particularly user-friendly, which might complicate the process for businesses looking to integrate Sage with other systems. Additionally, the basic plan comes with limited features, which might necessitate upgrades as business needs grow and evolve.

8. Tipalti Financial Performance Software

Tipalti is an automated financial reporting software that incorporates extensive financial reporting capabilities. It is particularly valued for its comprehensive tools that support internal controls over financial reporting (ICFR), procurement, and international accounts payable. 

Despite its robust functionalities, Tipalti presents a learning curve that may require users to invest significant time in fully leveraging its features. Additionally, the absence of batch downloads can limit efficiency in handling large volumes of transactions, potentially affecting the workflow of businesses with high transaction volumes.

9. Insightsoftware Financial Reporting Solutions

Insightsoftware is tailored for organizations that require robust integration capabilities and extensive customization in their financial reporting. It facilitates seamless data exports from ERP or enterprise performance management (EPM) systems to Excel, where users can create highly customized dashboards. 

However, Insightsoftware may present budgetary constraints for smaller teams due to its potentially high cost. Furthermore, while it offers strong reporting and data management features, its analytical tools are somewhat limited, which might not suffice for organizations that require deep analytical capabilities.

10. Xledger Financial Statement Software

Xledger is a cloud-based financial management system with advanced automation capabilities and real-time financial insights. It offers instant access to financial data across multiple dimensions such as projects, departments, and entire companies, supported by extensive drill-down capabilities.

Despite its extensive features, Xledger might present challenges for smaller businesses, primarily due to its cost, which may be steep for smaller budgets. Additionally, a slight learning curve is associated with its use, as new users must familiarize themselves with its comprehensive suite of features and integrations.

11. Workiva Financial Reporting Software

Workiva is a financial reporting software with robust document collaboration capabilities. Its extensive automations facilitate streamlined data collection and enhance financial reporting processes, ensuring accuracy and timeliness across various reports such as budget-to-actual variances and management reporting.

But, the absence of phone or live support may pose challenges for users requiring immediate assistance or real-time problem resolution. Additionally, while Workiva offers a mobile application for Android devices, it lacks a corresponding app for iOS, which could limit accessibility for users within Apple’s ecosystem.

12. Tagetik Financial Reporting Systems

CCH Tagetik is a robust financial reporting and analysis software that leverages historical financial data to create more accurate budgets, financial plans, and forecasts. The platform is known for its advanced analytics and sophisticated reporting features, which include what-if scenario analysis and activity-based and driver-based costing models.

However, CCH Tagetik does come with its challenges. While it offers extensive analytics capabilities, it lacks group cash flow functionality, which can be a limitation for organizations that must manage complex financial consolidation.

13. Planful Financial Reporting Tools 

Planful is a cloud-based financial planning and analysis (FP&A) platform that provides businesses with robust operational and financial intelligence tools. Designed to enhance financial data management, decision-making, and reporting, Planful supports businesses in streamlining their planning and budgeting cycles.

However, the software lacks dynamic dashboard functionality, which can be a drawback for companies that require real-time data visualization to make quick, informed decisions. Additionally, users may find it challenging to create custom formulas, reports, and dashboards based on their specific needs.

14. Anaplan Financial Performance Software

Anaplan is a cloud-based planning and performance management platform that assists organizations in connecting their data rapidly and automating various financial, operational, and reporting processes. The platform excels in creating complex models that calculate and monitor end-to-end business performance, aiding organizations in reporting and analyzing critical KPIs to top-level management.

However, the platform allows for only three dimensions in the rows/columns area, which can be restrictive for businesses needing more complex data segmentation. Additionally, Anaplan struggles with creating flexible dependent filtering criteria, which can complicate user experiences when displaying interdependent data.

15. Prophix Financial Reporting Solutions

Prophix eliminates tedious manual reporting tasks, providing tools for streamlined budgeting, planning, forecasting, reporting, and analysis. Notably, Prophix includes currency conversion capabilities, which simplify financial reporting across multiple currencies, an essential feature for global businesses.

However, Prophix often faces challenges with data importing and data management during deployment, which can complicate the initial setup and integration. The platform’s template creation process can also be cumbersome, particularly when needing to incorporate multiple data views or when formulas require pointing to specific intersections in the database.

16. Workday Adaptive Planning

Workday Adaptive Planning is cloud-based corporate financial reporting software renowned for its flexibility and user-friendly design. It is a popular choice among organizations aiming to automate and enhance their reporting processes. This makes Workday Adaptive Planning particularly effective for companies needing to quickly adapt to changing conditions, prioritize tasks, and foster efficient collaboration across departments.

However, despite its strengths, Workday Adaptive Planning presents challenges that may limit its appeal for some users. The platform can be difficult to modify once set up; updating models, adding new departments or accounts, or creating new reporting hierarchies can be cumbersome.

17. Cube Financial Statement Software

Cube is a financial planning and analysis (FP&A) platform designed to enhance strategic decision-making within finance teams by automating and streamlining repetitive reporting tasks. It allows users to create custom models to map and store complex datasets efficiently, featuring an easy-to-use interface that simplifies the building, configuring, and monitoring these models.

However, Cube offers a limited audit trail, which can complicate collaboration as users might need to wait for others to finish their entries before proceeding. Additionally, when new general ledger accounts are created, users must manually map them to their parent accounts, which can be cumbersome.

Another notable drawback is its limited visual user interface and reporting modules, which might not meet the needs of users who rely heavily on visual data presentations and comprehensive reporting functionalities.

18. Jedox Automated Financial Reporting Software

Jedox is a unified business planning and analytics platform that helps organizations efficiently analyze and report on essential financial, operational, and customer data. It provides robust security features that ensure that data remains safe, secure, and up-to-date.

Some users may find it challenging to perform ad hoc data analysis and visualization, as the platform primarily supports structured data environments. Furthermore, user permissions in Jedox are restricted to database and cube levels, which might limit finer control over data access and manipulation.

19. Syntellis Financial Performance Software

Syntellis Performance Solutions is a software and analytics provider that caters predominantly to financial and healthcare organizations in the upper mid-market and enterprise space. The platform is recognized for its strong database administration and data engineering expertise, supported by a team of knowledgeable consultants who assist organizations in streamlining processes and simplifying reporting.

However, the reporting features are inflexible without custom scripting, making creating and adding tailored reports challenging. This could pose a barrier for organizations that require highly customized reporting capabilities. Additionally, performance issues may arise when querying larger tables and datasets, potentially slowing down information retrieval.

20. OneStream Financial Reporting Software

OneStream provides a unified corporate financial reporting software that integrates economic and operational data, enhancing visibility and control. OneStream is adept at creating flexible and robust reports and dashboards, coupled with substantial financial consolidation and close capabilities, ensuring accuracy and efficiency throughout the economic cycle.

However, OneStream requires significant onboarding and training, as it is not intuitive unless users have a foundational understanding of its functionalities. Additionally, transitioning from an on-premise setup to cloud-based SaaS can be complex and time-consuming, particularly due to the unique needs and structures of different businesses.

Benefits of High-Quality Financial Reporting Software

Implementing high-quality financial reporting components in your business can significantly transform your financial management processes. These advanced financial reporting systems are designed to streamline complex data handling and bolster transparency and accountability.

Below are the key benefits of implementing financial reporting software:

• Risk Reduction: Financial statements software minimizes the risks of errors in your financial data. Accurate and timely reporting is vital for compliance and maintaining stakeholder trust. Inaccuracies can result in serious legal and financial consequences.
• Cost Savings: Financial reporting solutions automate routine tasks, enabling your finance teams to avoid overtime expenses and reduce the need for additional personnel during financial closing periods. Moreover, creating reusable reporting templates saves significant resources in the long run.
• Strategic Planning: Financial reporting systems provide vital data for strategic planning. Analyzing financial reports provides insights to forecast revenues, assess liquidity, and plan exit strategies, which are key elements for scaling SaaS companies.
• Regulatory Compliance: With regulations continually evolving, having robust financial reporting software ensures that your financial statements comply with the latest standards. This compliance is critical for avoiding costly penalties and maintaining a company’s reputation.
• Increased Efficiency: Automation is a key feature of superior financial reporting solutions, drastically reducing the time dedicated to manual report generation. Automation in financial reporting software saves time on report compilation, enabling teams to focus on more strategic activities.

Key Features of Financial Reporting Software

When choosing the right financial reporting software, there are key features to look for. This section will discuss the key features of financial reporting software that may benefit your company in managing financial administration.

1. Automated data aggregation

Automated data aggregation effortlessly merges information from different systems. This quick data gathering highlights the accuracy and speed that can significantly improve your company’s performance. This type of software is designed to work well with businesses of any size, from small to large, meeting the needs of each with simplicity or complexity as required.

2. Pre-built reporting templates and dashboards

Modern financial reporting tools are known for their quick report generation, using ready-made templates and dashboards that are both organized and adaptable to get started easily. You can create instant analyses and enable users to manage their reports, making planning and budgeting faster and more efficient. These templates are flexible enough to meet the varied needs of a global business, working with different currencies and following international accounting standards.

3. BI and AI capabilities

The introduction of Business Intelligence (BI) and Artificial Intelligence (AI) in financial reporting has greatly enhanced analytical capabilities, allowing businesses to predict trends and gather essential insights for strategic planning. This shift from manual to automated analysis improves accuracy and, as demonstrated in a case study, increases efficiency and visibility within large organizational structures.

4. Automated report distribution

Automated report distribution is a standout feature of financial reporting software. Automation ensures that reports are shared quickly and consistently, reducing the risk of human errors and improving communication efficiency. In a time when security and data integrity are critical, using trusted platforms like HashMicro can help strengthen your organization’s reputation as secure, reliable, and innovative.

Conclusion

Choosing the right financial reporting software is crucial to managing and deeply analyzing a company’s financial health. In the article above, several choices of financial reporting software are available in the market. But, considering the best software that suits your company’s criteria and needs is a priority.

One of the best accounting software programs available is HashMicro, which offers complete features and benefits for better financial management. Equipped with a user-friendly interface and professional assistance, the software is easy to access.

Adopting the best financial reporting software can lead your business to better financial management and avoid human errors. Grab the chance to enhance your business by trying the free demo of HashMicro financial reporting software now!

Questions about Financial Reporting Software

• How to choose the best financial reporting software?

  Financial accounting software automates the process of tracking and managing financial transactions. It records income and expenses, generates financial reports, and ensures accurate financial data by integrating with other business systems.

• How to choose the best financial reporting software?

  To choose the best financial reporting software, consider user-friendliness, features matching your business needs, integration capabilities with other systems, security, scalability, and customer support.

• What’s the best financial reporting software?

  The best financial reporting software is the HashMicro Accounting System. It offers comprehensive features, user-friendly interfaces, and robust integration options, making financial management efficient and accurate.