The 20 Best Finance Project Management Software for 2024

Do you need finance project management software?

Effective project management is crucial for finance project teams, as it helps them manage their budgets, resources, and timelines efficiently.

In this guide, we explore various finance project management software options that are tailored specifically for finance professionals.

We cover both industry stalwarts and innovative newcomers, and delve into each software’s features, pros, cons, and best use cases.

Whether you are overseeing complex financial initiatives or seeking to optimize resource allocation, this guide will help you find the perfect project management software for your finance endeavors.

• Best Finance Project Management Software
• What is Project Management?
• Why is Finance Project Management Important?
• How is Project Management Used in Finance?
• Which Software is Mostly Used in Finance?
• How Do I Choose the Best Finance Project Management Software?

Best Finance Project Management Software

Process Street

Process Street revolutionizes the way you manage your workflows and projects, offering unparalleled simplicity and power. With its intuitive interface and comprehensive features, Process Street empowers finance professionals to streamline their processes, enhance collaboration, and drive productivity to new heights.

Main Features: Automation, integrations, security, template library.

Pros:

• Intuitive workflow automation.
• Seamless workflow management.
• Centralized collaboration hub.
• Extensive integration ecosystem.
• Customizable templates for finance projects.
• Robust reporting and analytics.
• Advanced security and compliance features.

Cons:

• Pricing may be high for startups.

Best for: Finance professionals seeking a powerful yet user-friendly solution to streamline their project management workflows and drive success in their finance projects. With Process Street, excellence becomes effortless, and success becomes standard.

Microsoft Project

Microsoft Project offers robust project management features tailored for finance project management needs. It encompasses task scheduling, budgeting, and resource allocation functionalities, making it a go-to choice for project management in the finance industry.

Main features: Task scheduling, budgeting, resource allocation.

Pros:

• Robust features.
• Integration with Microsoft Office suite.
• Customizable reports.
• Advanced resource management capabilities.

Cons:

• Steep learning curve for beginners.
• Primarily desktop-based.
• Limited collaboration features.
• High licensing costs.

Best for: Large-scale finance projects requiring detailed planning and resource management.

Smartsheet

Smartsheet combines the familiarity of a spreadsheet with powerful project management and collaboration features, catering to finance project management needs effectively. It’s suitable for project management in finance industry scenarios where collaboration and data organization are paramount.

Main features: Collaboration, spreadsheet-like interface, project management tools.

Pros:

• Familiar interface.
• Versatile functionality.
• Cloud-based.
• Extensive integrations with other tools.

Cons:

• Complexity increases with scale.
• May require training for advanced features.
• Limited automation capabilities.
• Pricing tiers can be expensive for larger teams.

Best for: Collaborative finance projects with diverse stakeholders.

Workfront

Workfront is a cloud-based work management tool designed for enterprise-level project management, including financial projects. It streamlines project management in finance industry by offering robust features for collaboration, task tracking, and resource management.

Main features: Cloud-based, enterprise-level project management, financial project tracking.

Pros:

• Advanced collaboration features.
• Customizable workflows.
• Integration with other business tools.
• Real-time project tracking.

Cons:

• Steep learning curve.
• Requires ongoing training for optimal use.
• User interface can be overwhelming for new users.
• Limited customization options for reporting.

Best for: Large enterprises managing complex finance projects with distributed teams.

Wrike

Wrike offers comprehensive project management features, including task management, Gantt charts, and real-time collaboration, making it an ideal choice for project management in the finance industry. It facilitates efficient project execution and monitoring for finance professionals.

Main features: Task management, Gantt charts, real-time collaboration.

Pros:

• User-friendly interface.
• Flexible project views.
• Integration with third-party applications.
• Advanced reporting capabilities.

Cons:

• Advanced features may require additional training.
• Limited customization options in lower-tier plans.
• Pricing can be prohibitive for smaller teams.
• Dependency on internet connectivity for full functionality.

Best for: Mid-sized finance teams requiring detailed project planning and execution.

Monday.com

Monday.com is a versatile work operating system that can be adapted for project management, including finance-related projects. Its customizable interface and automation features streamline project management in finance industry, enhancing team collaboration and productivity.

Main features: Customizable interface, automation features, collaboration tools.

Pros:

• Highly customizable.
• Intuitive user interface.
• Automation capabilities.
• Extensive template library for various project types.

Cons:

• Pricing structure may not be suitable for all budgets.
• Limited reporting functionalities.
• Integration options are somewhat limited.
• Complex projects may require additional setup and customization.

Best for: Flexible finance projects with changing requirements and workflows.

Jira by Atlassian

Originally designed for software development, Jira is widely used for project management in various industries, including finance. Its customizable workflows and issue tracking system make it adaptable for project finance management software needs, enabling teams to track tasks, bugs, and features efficiently.

Main features: Customizable workflows, issue tracking, agile project management.

Pros:

• Highly customizable.
• Agile project management capabilities.
• Integration with other Atlassian products.
• Extensive marketplace for add-ons and integrations.

Cons:

• Steep learning curve, especially for non-technical users.
• Configuration can be complex.
• Limited out-of-the-box reporting capabilities.
• Pricing may not be suitable for smaller teams.

Best for: Agile finance projects requiring flexible task management and issue tracking.

Asana

Asana is a popular project management tool that facilitates collaboration and communication among team members. It’s well-suited for project management in finance industry, offering features like task assignments, timelines, and progress tracking to ensure efficient project execution.

Main features: Task management, collaboration, progress tracking.

Pros:

• Intuitive interface.
• Seamless collaboration features.
• Integration with third-party apps.
• Flexible project views.

Cons:

• Advanced features limited in basic plans.
• Lack of built-in time tracking.
• Steep learning curve for complex workflows.
• Limited customization options for reports.

Best for: Finance teams focused on task management and team collaboration.

Trello

Known for its visual boards and cards, Trello is a simple and intuitive project management tool suitable for smaller finance projects. It offers a flexible approach to project management in finance industry, allowing teams to organize tasks, collaborate, and track progress effortlessly.

Main features: Visual boards, task cards, collaboration tools.

Pros:

• Easy-to-use interface.
• Visual project organization.
• Integration with other apps and services.
• Free plan available with basic features.

Cons:

• Limited functionality for complex projects.
• Lack of built-in time tracking.
• Dependency on third-party integrations for advanced features.
• Scalability issues for large teams and projects.

Best for: Small finance teams or individual projects with straightforward workflows.

Basecamp

Basecamp focuses on simplicity and ease of use, making it suitable for small to medium-sized finance teams. It offers features for task management, communication, and file sharing, providing a centralized platform for team collaboration on finance projects.

Main features: Task management, communication, file sharing.

Pros:

• User-friendly interface.
• Centralized platform for project communication.
• Integration with third-party apps.
• To-do lists and scheduling tools.

Cons:

• Limited customization options.
• Lack of advanced project management features.
• Not ideal for large-scale projects.
• Pricing based on the number of projects.

Best for: Small to medium-sized finance teams requiring straightforward project management and collaboration.

Clarizen

Clarizen provides project management and work collaboration solutions, with features for planning and managing financial projects. It offers robust capabilities for finance project management, including budgeting, resource management, and real-time progress tracking.

Main features: Project planning, budgeting, resource management.

Pros:

• Comprehensive project management features.
• Real-time progress tracking.
• Customizable workflows.
• Integration with other business systems.

Cons:

• Complex interface may require training.
• Higher pricing tiers for advanced features.
• Limited reporting options in lower plans.
• Integration with other tools can be challenging.

Best for: Finance teams needing advanced project planning and management capabilities.

LiquidPlanner

Known for its dynamic scheduling and project management capabilities, LiquidPlanner is used for various project types, including finance. It offers features such as priority-based scheduling, resource management, and real-time collaboration, making it suitable for dynamic project finance management.

Main features: Dynamic scheduling, resource management, real-time collaboration.

Pros:

• Dynamic scheduling based on priorities.
• Resource management tools.
• Real-time collaboration features.
• Integration with popular business apps.

Cons:

• Complex interface may require training.
• Higher learning curve for new users.
• Limited mobile app functionality.
• Pricing may not be suitable for smaller teams.

Best for: Finance projects with dynamic requirements and changing priorities.

Zoho Projects

Part of the Zoho suite, Zoho Projects offers project planning and collaboration tools suitable for finance projects. It provides features for task management, timesheets, and project tracking, enabling effective project management in finance industry.

Main features: Task management, timesheets, project tracking.

Pros:

• Comprehensive project planning features.
• Timesheet and time tracking functionality.
• Gantt chart for project visualization.
• Integration with other Zoho apps.

Cons:

• User interface could be more intuitive.
• Limited reporting options in lower-tier plans.
• Advanced features may require additional costs.
• Support response times may vary.

Best for: Finance teams seeking an all-in-one project management solution.

ProjectManager.com

ProjectManager.com is a comprehensive project management solution with features for planning, tracking, and collaboration. It caters to the needs of finance projects by offering robust tools for budget management, resource allocation, and real-time reporting.

Main features: Planning, tracking, collaboration, budget management.

Pros:

• Intuitive interface.
• Advanced project planning tools.
• Real-time reporting and analytics.
• Integration with popular business tools.

Cons:

• Pricing may be higher for advanced features.
• Learning curve for mastering all functionalities.
• Limited customization options in reports.
• Mobile app functionality could be improved.

Best for: Finance teams requiring comprehensive project planning and budget management capabilities.

Podio

Podio is a flexible project management platform that can be customized to suit the needs of finance teams. With features for task management, communication, and workflow automation, Podio offers a versatile solution for managing finance projects efficiently.

Main features: Task management, communication, workflow automation.

Pros:

• Highly customizable platform.
• Integration with other business apps.
• Workflow automation capabilities.
• Real-time collaboration features.

Cons:

• Complexity increases with customization.
• Learning curve for setting up workflows.
• Limited reporting options in basic plans.
• Mobile app interface could be improved.

Best for: Finance teams looking for a customizable project management solution to fit their unique workflows.

Redbooth

Redbooth offers project management, task tracking, and collaboration tools for finance professionals. With features for task delegation, file sharing, and progress tracking, Redbooth simplifies project management processes for finance projects.

Main features: Task management, collaboration, progress tracking.

Pros:

• Intuitive task management interface.
• Seamless collaboration features.
• Time tracking and reporting capabilities.
• Integration with popular business tools.

Cons:

• Limited customization options for task views.
• Pricing may be high for smaller teams.
• Advanced features restricted to higher-tier plans.
• Support response times may vary.

Best for: Finance teams seeking a straightforward project management solution with robust collaboration features.

NetSuite OpenAir

Specifically designed for professional services organizations, NetSuite OpenAir includes project management, resource planning, and financial management features. It caters to the needs of finance projects by providing tools for project planning, resource allocation, and financial tracking.

Main features: Project management, resource planning, financial management.

Pros:

• Comprehensive suite for professional services firms.
• Advanced resource planning and scheduling.
• Integration with NetSuite ERP for financial management.
• Customizable reporting and analytics.

Cons:

• Complex setup and configuration process.
• Higher pricing compared to some alternatives.
• User interface could be more intuitive.
• Limited customization options in certain areas.

Best for: Finance organizations requiring an integrated solution for project management, resource planning, and financial management.

Easy Projects

Easy Projects is a user-friendly project management tool with features for task management, time tracking, and financial management. It simplifies project management processes for finance projects, offering tools for budgeting, resource allocation, and expense tracking.

Main features: Task management, time tracking, financial management.

Pros:

• User-friendly interface.
• Advanced task management capabilities.
• Built-in time tracking and expense management.
• Customizable dashboards and reports.

Cons:

• Limited customization options in certain areas.
• Pricing may be high for smaller teams.
• Integration options are somewhat limited.
• Support response times may vary.

Best for: Small to medium-sized finance teams requiring an intuitive project management solution with built-in financial management features.

Ravetree

Ravetree combines project management, resource planning, and time tracking to help manage financial projects efficiently. With features for task management, collaboration, and budget tracking, Ravetree provides a comprehensive solution for finance teams.

Main features: Project management, resource planning, time tracking.

Pros:

• Comprehensive project management features.
• Advanced resource planning and scheduling.
• Built-in time tracking and expense management.
• Integration with other business systems.

Cons:

• Limited customization options in certain areas.
• Learning curve for mastering all functionalities.
• Mobile app functionality could be improved.
• Support response times may vary.

Best for: Finance organizations requiring an integrated solution for project management, resource planning, and time tracking.

What is Project Management?

Project management involves the planning, executing, and overseeing of a specific project to achieve its goals and objectives within a defined time frame and budget.

Key roles in project management include project managers, responsible for coordinating and leading the project team, as well as stakeholders, who provide input and feedback.

Project teams are responsible for:

• Defining the scope
• Setting goals
• Creating timelines
• Managing resources
• Ensuring quality deliverables

Tools commonly used in project management include:

• Project management software
• Communication tools
• Budgeting tools
• Scheduling tools
• Risk assessment tools

Why is Finance Project Management Important?

Finance project management is crucial for the success of any project.

It plays a critical role in budget planning, ensuring that resources are allocated efficiently and effectively.

Effective cash cycle management also falls under finance project management, ensuring that the project has sufficient funds when needed.

Profit forecasting helps in predicting the financial outcome of the project, enabling better decision-making.

Finance project management also helps in extending the value of the project by identifying opportunities to maximize returns.

Understanding the impact of finances on project success, accurate reporting for management, and thorough knowledge of financial terms and process documentation are also crucial aspects of finance project management.

Without proper financial management, a project can face budget overruns, inefficiencies, and ultimately failure. Therefore, finance project management is essential for the overall success and sustainability of any project.

How is Project Management Used in Finance?

Project management allows for effectively planning resources, ensuring the timely delivery of services, and managing the financial aspects of projects.

For instance, accounting firms use project management to allocate resources efficiently, plan for client deliverables, and manage the financial aspects of each project.

This may incorporate:

• Creating and monitoring budgets
• Tracking expenses
• Ensuring that projects are delivered on time and within budget

Which Software is Mostly Used in Finance?

In the “best project management software” section of this article, we’ve shared some amazing finance project management software.

While they are great for ensuring financial performance and will impact your return on investment, many project managers use some other financial planning tools.

QuickBooks and Xero

The most commonly used software for financial projects includes QuickBooks and Xero for financial management and Bloomberg and FactSet for investment management.

These software systems are essential for managing financial data, analyzing market trends, and making informed decisions.

Financial management software like QuickBooks and Xero helps organizations track their income and expenses, manage payroll, and generate financial reports.

Bloomberg and FactSet

These tools are important for financial project managers, as they provide access to real-time market data, news, and analytics.

They are platforms that allow financial professionals to monitor and analyze market trends, track investment performance, and conduct in-depth research on securities.

How Do I Choose the Best Finance Project Management Software?

When choosing the best finance project management software, it is important to consider key features and functionalities such as: 

Budget Tracking

The software should allow you to effectively set, track, and manage project budgets. It should provide real-time updates on expenditures against budgeted amounts and alert users to potential overruns.

Resource Management

Look for tools that efficiently allocate resources, including personnel, materials, and equipment. 

The software should facilitate resource planning, scheduling, and optimization to ensure projects are adequately staffed and resourced.

Reporting Capabilities

Comprehensive reporting features are crucial for monitoring project financial health and performance. 

The software should offer customizable reporting templates and the ability to generate detailed financial reports, including profit and loss statements, cash flow analysis, and variance reports.

Customizable Dashboards

Look for software that provides customizable dashboards, allowing users to tailor the interface to their project management needs. 

Dashboards should provide a real-time overview of project finances, including budget status, resource utilization, and key performance indicators.

Collaboration Tools

Effective collaboration features are essential for finance project management software. Look for tools that facilitate communication and collaboration among team members, allowing for seamless sharing of documents, updates, and feedback.

Security and Compliance

Ensure that the software adheres to industry security standards and compliance regulations, especially if handling sensitive financial data. Look for features such as role-based access controls, data encryption, and audit trails to safeguard sensitive information.

Scalability

Consider the software’s scalability to accommodate your organization’s needs as it grows. The software should be able to handle an increasing number of projects, users, and data volumes without sacrificing performance or functionality.

Mobile Accessibility

Mobile accessibility is increasingly important for modern project management software. Look for solutions offering mobile apps or responsive web interfaces, allowing users to access project financial data and collaborate.

Customer Support and Training

Evaluate the level of customer support and training offered by the software provider. Look for providers that offer comprehensive training resources, documentation, and responsive customer support to assist with the software’s implementation and ongoing use.