Cash flow management software: The 5 best tools 2024

What is a cash flow management tool and why do you need it?

A cash flow management tool is software that helps you to Overview of your company's finances to keep. It shows you how your liquidity is doing, helps you identify liquidity gaps at an early stage, and helps you with financial planning. Sounds simple, but it's often quite challenging in practice. Especially when planning is carried out using Excel spreadsheets or manual lists, things can quickly become confusing.

This is exactly where cash flow management software comes in: With a good tool, you can monitor all cash flows in real time, play through scenarios and make well-founded decisions. This ensures that you don't lose track of things — even if your deposits and withdrawals fluctuate.

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Why is cash flow software important?

Cash flow management is one of the most important aspects of financial planning of a company. It ensures that enough liquid assets are available to pay bills, make investments and cover unexpected costs. It is therefore all the more important not to set up cash management in complex Excel spreadsheets, but to invest in intuitive cash flow software.

Good cash flow management is critical to a company's financial success. After all, such software allows you to create a clear Overview of your money flows to keep. Without this transparency, there is a risk of financial bottlenecks. Proper planning is particularly important for start-ups and SMEs because they often have limited financial resources. Even minor fluctuations — such as late payments from customers or unexpectedly high spending — can lead to liquidity bottlenecks. Cash flow software helps you to minimize these risks and counteract them at an early stage.

Requirements for modern cash flow management software

A good cash flow management tool must do more than just track deposits and withdrawals. Here are some important requirements that a suitable solution for your company should meet.

• Integration with other systems

A powerful tool must be easy to integrate into your IT landscape. This includes connecting to ERP and accounting systems as well as connecting to your bank accounts to automatically synchronize financial data.

• Ease of use and intuitive operation

A clear and intuitive user interface saves time and nerves. The design should be simple enough that even users without in-depth financial background can quickly understand and use the most important financial data and functions.

• Real time data

A cash flow management tool should provide you with real-time data so that you always have an up-to-date overview of your finances. This allows you to react directly to financial changes without having to search through outdated tables. This transparency is particularly important during growth phases or unexpected crises, so that you remain able to act at all times.

• scenario planning

Modern cash flow management tools make it easy to run through various financial scenarios. This scenario planning helps you to be better prepared for future developments. For example, you can test what happens if a major customer pays later or how an investment affects liquidity. In this way, you can identify potential risks at an early stage and take countermeasures in good time.

• Automation for greater efficiency

An important feature of modern cash flow management tools is the automation of recurring tasks such as reconciliation of account statements, collection of payments, or preparation of reports. This saves time and minimizes errors.

• Visual reporting and KPIs at a glance

A clear visualization of financial data helps you quickly understand correlations and make better decisions. Dashboards that present key figures (KPIs) make it easy to monitor company performance. Diagrams and graphics make the development of cash flows easy to understand and create trust when you present the data to stakeholders or investors.

• Free trial to get you started

Start-ups and freelancers in particular like to look for freeware for liquidity planning. Although there are simple solutions such as Excel templates, which are suitable for getting started, but they quickly reach their limits. With many software providers, you can start with a free trial version. Such test phases help to check important aspects such as usability and the linking of bank accounts. But as your business grows, financial processes become more complex — that's when a professional tool is essential to keep track of things.

[Picture idea: graphic with the requirements at a glance]

A comparison of the 5 best tools for cash flow management

Good cash flow management software must suit you — not only in terms of functions, but also in terms of handling and costs. Here we present the best tools for 2024 in compact form with their most important advantages and disadvantages.

1. Tidely

Tidely is perfect for small to medium-sized enterprises (SMEs) that are looking for an easy-to-use, transparent and smart solution with a good price-performance ratio for cash flow management.

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Advantages:

• Easy, intuitive and quick to use: At Tidely, simplicity is paramount. The user interface is designed in such a way that even users without financial background can easily find their way around. Setting it up is very easy, you can immediately connect your bank accounts and systems and have the first insights after just 30 minutes — without extensive training.
• Only German cash flow management tool: Tidely is the only cash flow software developed entirely in Germany. This means not only the highest data protection standards, but also software that is specifically tailored to the needs of the German market.
• World-class support and personalized onboarding: At Tidely, we believe that no one should be left alone. That's why we offer you personal support and individual onboarding that supports you right from the start. We help you set up your cash flow management perfectly so that you can concentrate directly on your business.
• Perfect for project transactions: Especially for companies in Project business Tidely offers a tailor-made solution. It's the only tool that includes a custom project planning template to help you better manage your project budgets and cash flows. This allows you to keep an eye on how each of your projects is developing financially at any time and can plan and act accordingly.
• Everything in one place: Whether it's integrating multiple bank accounts, managing invoices or efficient Liquidity management works — at Tidely, you'll find everything you need for efficient cash flow management, compact and clearly arranged in one place.

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Disadvantages:

• Scaling limited for large companies: The focus is on SMEs. For very large companies with specific requirements, Tidely may not be sufficiently scalable in some areas.

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Price:

From 45€ per month, depending on parcel. At Tidely, prices are clear and transparent, with no hidden costs. As a result, the software offers one of the best price-performance ratios for SMEs.

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2. Agicap

Agicap is ideal for companies that are looking for a comprehensive all-in-one solution and are willing to pay a premium price for it.

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Advantages:

• An all-rounder for financial management: Agicap offers many advanced features that go beyond pure cash flow management, such as credit card management or debt collection. This makes Agicap particularly interesting for companies that want to map everything in one tool.
• Modularly expandable: Agicap can be modularly extended as required, which is practical when additional features are needed.

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Disadvantages:

• Expensive and complex: The variety of functions means that Agicap may be too extensive for beginners or small companies. In addition, there is the high price, which can rise even further depending on the additional functions or add-ons. This is often an exclusion criterion, particularly for smaller companies or start-ups.

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Price:

The software is in the higher price segment, although the exact costs are not stated directly on the website, which could make it less attractive for some SMEs. There are also many paid add-ons.

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Read more about Agicap and the comparison with Tidely here.

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3. Commitly

Commitly is well suited for small to medium-sized companies looking for a lean and cost-effective solution for liquidity planning.

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Advantages:

• Reduction to the essentials: Commitly scores points with a clear focus on its core business, namely liquidity planning. The tool is simple, so you can get started right away without rummaging through superfluous features.
• Scenario planning made easy: Commitly makes it possible to simulate various scenarios, which is particularly helpful for better preparing financial decisions and understanding the effects of planned changes.

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Disadvantages:

• Limited range of functions: For companies that need more than just liquidity planning, Commitly may lack the necessary range of functions. Features such as deeper integration or advanced analytics are not available, which could limit usage for growing companies.
• Low flexibility: Commitly offers little scope for individual adjustments. If you need more extensive planning options, the tool quickly reaches its limits.
• Limited support: Commitly support is limited. There is a lack of personal onboarding services and more intensive support, which can be particularly helpful at the start.

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Price:

From 45€ per month. Commitly offers a fair pricing structure, which makes it particularly attractive for small companies that only need a lean solution. But for a comparable price, you get more from other providers: more flexible features, more comprehensive planning tools, and first-class support.

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Read more about Commitly and the comparison to Tidely here.

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4. Helu

Helu is suitable for companies that need a comprehensive FP&A (Financial Planning and Analysis) solution.

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Advantages:

• DATEV integration and professional reports: Helu offers very good integration with DATEV, which makes it particularly attractive for companies that already work with this accounting software. The detailed reports that Helu provides help to gain financial insights on a professional level.

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Disadvantages:

• No real-time cash flow: Helu specializes in retrospective analyses rather than mapping the current cash flow in real time. This can be problematic if you need to react quickly to financial changes.

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Price:

The costs are not directly apparent, but are shown in medium to higher price segment , which could make the software a less attractive choice for some SMEs.

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5. Fygr

Fygr provides easy cash flow planning with dynamic updates for smaller businesses.

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Advantages:

• Quick scenario planning: Fygr allows you to dynamically play through various scenarios. This feature helps to immediately assess the impact of cash flow changes.
• Customizable plans: The ability to adapt plans flexibly and dynamically makes Fygr particularly interesting for companies that often have to react to changes.

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Disadvantages:

• Limited features: Compared to more extensive tools, some features are missing, such as deep integration with ERP systems or the management of loans and invoices.

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Price:

Fygr's pricing information is also in the middle segment (from 49€ per month for SMEs) and are aimed at those who need a simple but dynamic solution and for whom advanced functionalities and automatic categorization are not important.

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3 tips on how to find the right liquidity planning software for you

Choosing the right cash flow management software depends on what you expect from the tool itself and what services your company depends on. There is no such thing as the right software — to make your decision easier, we have put together helpful tips that you should definitely consider when choosing:

1. Understand value for money

The price-performance ratio should be at the forefront of your decision. It is often tempting to choose the tool with the most features. However, you should ask yourself whether you really need all of these features. Of course, it's similar the other way around: Do you have to make compromises in features, scalability, usability, or support at a low price?

2. Consider the size of your business

Depending on the size of your company, the requirements for software vary significantly. For large companies that need comprehensive solutions with a wide range of features, a tool like Agicap may be the right choice. However, if your company is small or medium-sized, you benefit more from software that is user-friendly and tailored precisely to the needs of SMEs — such as Tidely.

3. Prioritize support and individual advice

Good support is crucial, especially at the beginning, when you set up the tool. Make sure that the provider offers comprehensive advice and support options — such as with Tidely through personal discussions, tutorials, or an extensive knowledge database.

Conclusion: Which cash flow management software is right for you?

If you're looking for a user-friendly, transparent and affordable solution for your cash flow management If you are looking for your financial planning, then Tidely Just the thing for you. We offer everything SMEs need — simply and without hidden costs. Unlike many competitors, we attach great importance to ensuring that you are not left alone. Our personal support, intuitive usability and focus on essential functions make Tidely the ideal solution for small to medium-sized businesses.

If your company needs more and you're willing to dig deep into your pocket, Agicap could be an alternative. The software offers a variety of features, but these significantly drive up the price.

Commitly is an interesting choice if you're looking for a cost-effective and straightforward solution, while Helu is interesting for companies that need deeper financial analysis and DATEV integration.

Choosing the right cash flow tool therefore depends heavily on what you and your company actually need. With Tidely You get a solution that offers all important functions, remains clearly structured and doesn't break the bank — ideal for anyone who wants to organize their financial management simply, professionally and without stress.

FAQ

What is cash management?

Cash management means managing a company's cash to ensure that there is always enough money for ongoing expenses. The aim is to optimize payment flows and avoid financial bottlenecks.

Which tool is used for cash management?

There are various tools that can be used for cash management, depending on company size and needs. Recommended solutions include Tidely, Agicap and Commitly.

What are the three cash flows?

The three cash flows are operating cash flow (cash flow from ongoing operations), investment cash flow (cash flow through investments) and financing cash flow (cash flow through loans and financing).

Is there any free liquidity planning software?

Yes, there are some free tools or even Excel templates that are suitable for simple cash flow planning. However, these quickly reach their limits when you want to create more complex plans. An affordable solution like Tidely offers greater flexibility, real-time data, and automation — at a price that even start-ups and freelancers can afford.

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