Overview of 6 cash management software providers

1. re:cap Insights
2. Microsoft Excel 
3. Agicap
4. Tidely
5. Commitly
6. Atlar

Comparison: The 6 best cash management software in 2024

Seeking a swift and comprehensive comparison of cash management software providers, including their pricing and features? Our spreadsheet delivers what you need. 

Designed for clarity and ease of use, it helps you make well-informed decisions and share insights with your team and management. Discover a side-by-side comparison of leading cash management software options. Please note: Information is accurate as of September 18, 2024. Please let us know, if you spot a mistake.

What you should consider when choosing cash management software

An effective cash management software does more than showcase impressive features. It delivers concrete benefits that extend beyond data collection and visualization. To find the best tool for your needs, consider these essential questions:

For what purpose do I need the cash management software?

Cash management software comes in different forms, each tailored to different needs. Some solutions cater to large, established companies with complex financial structures, while others are crafted for startups, where founders often handle cash management personally. To find the ideal software for your needs, evaluate your specific requirements. Determine if the features align with your current needs or if you require a more specialized or comprehensive solution.

How complex are onboarding and maintenance?

Cash management software that takes weeks or months to onboard – such as Agicap or Atlar, which can require 2-3 months – and demands constant maintenance isn't what you need. Look for a solution that integrates data sources in minutes and operates effortlessly. Seek out a data integration system that is swift, precise, and fully automated, so you can concentrate on what matters.

Do I need all the features that the cash management software offers?

In the world of software, more features often mean a higher price. A free trial lets you assess whether you need all those extra functionalities or if the software is more complex than required for your purposes. Ideally, you want to avoid investing thousands of euros in software and only use a fraction of its capabilities.

How is data quality ensured?

The success of cash management software relies heavily on the precision of its data. For a solution to truly excel, it must go beyond merely classifying transactions. It should seamlessly handle data cleansing, validation, and enrichment. Without these essential features, even the most advanced software may not deliver the needed results.

What is the best cash management software?

1. re:cap Insights

re:cap Insights is a cash management tool that helps you plan, manage, and optimize your liquidity. It’s designed for startups, scaleups, and small to medium-sized businesses, providing solutions tailored to their financial needs.

The software delivers a real-time overview of your cash positions by consolidating all your bank accounts and balances into a single, easy-to-navigate dashboard. Incoming and outgoing payments are automatically categorized with 97% accuracy, ensuring high-quality data. Access essential financial metrics effortlessly for management, team, and investor reports. Plus, plan your liquidity and budget, and simulate stress tests to see how your business develops under pressure or evaluate the impact of key business decisions.

re:cap Pricing

re:cap Insights offers three plans for different needs: Basic, Insights, and Funding & Insights (All Insights plus access to re:cap funding). Plus, you can experience the cash management software for free with a 14-day trial. Find all information on our pricing page.

• Basic: €0 per month
• Insights: €39 per month (annual billing)
• Funding & Insights: customized pricing

A quick note: re:cap Insights is unique among cash management software tools because it allows you to invite an unlimited number of users and link an unlimited number of bank accounts, regardless of the plan you select.

re:cap Features 

Liquidity Management

re:cap's cash management covers the following areas:

• Cash flow statement: automatically categorizes transactions to ensure precise allocation of incoming and outgoing payments and gives you an overview of your cash position.
• Profitability and financial health: delivers real-time insights into your profitability based on your accounting data, keeping you updated on your financial performance.
• Runway analysis: tracks cash burn and runway to provide a clear view of your financial health and sustainability.
• Cash consolidation: facilitates liquidity analysis across multiple levels, companies, and countries for a financial overview.
• Plan vs. Actuals comparisons: measures your business plan figures against actual performance to assess alignment and adjust strategies.
• Bank connections: integrates seamlessly with over 14,000 bank accounts for comprehensive financial management.

Liquidity Forecast

Liquidity planning is a crucial component of financial strategy, encompassing several key areas. You can forecast your liquidity based on historical and real-time data. You can also assess how major decisions – such as hiring new staff, incurring significant expenses, or pursuing M&A – affect your cash flow.

Conducting stress tests allows you to examine how essential metrics respond under pressure, helping you identify and address critical aspects of your financial strategy.

Additionally, simulating the effects of debt or equity investments on your cash flow and liquidity provides valuable insights into their influence on your overall financial health.

Reporting

With reporting you access all the crucial numbers of your business in one dashboard:

• Extract the most relevant metrics to build your reports by connecting banking, revenue, and accounting data for a clear view of liquidity, customers, and profitability.
• Discuss financial metrics with your management and answer finance-related questions.
• Save time with smarter investor reporting that highlights key metrics your investors care about.
• Ensure financial accuracy by tracking revenue, costs, cash flow, and balances to align projections with reality.

What do companies use re:cap Insights for?

When we ask our customers, they use re:cap Insights primarily for the following:

• Gain instant, transparent insights into accounts and cash balance. Consolidate all cash flow data in one easily accessible platform.
• Track essential financial metrics – whether company-wide or by specific entities – keeping management and investors updated on figures like burn rate, revenue growth, and cash reserves at any moment.
• Uncover potential savings and cut costs by identifying opportunities for improvement. Stay aligned with their budget and take proactive measures when discrepancies arise.
• Define budget planning and boost accuracy with the Plan vs. Actuals feature.
• Enhance their liquidity planning by forecasting various scenarios, allowing them to model and anticipate future developments.
• Conduct liquidity stress tests to assess their impact on different areas of your business, ensuring they are prepared for any financial challenge.

Summary re:cap Insights

re:cap Insights is cash management software designed for thorough liquidity planning and efficient cash management. You get a precise overview of your cash position in real time, proactively plan your liquidity, and get all the metrics you need to track your cash position.

2. Microsoft Excel

For over 30 years, Microsoft Excel has been an ally for start-ups, SMEs, and large corporations alike. Beyond performing calculations and generating charts, you can use Excel also for cash management.

Microsoft Excel pricing

With Excel, you have two choices: use it as a standalone application or within the Microsoft 365 suite.

• Excel standalone: $159
• Excel within Microsoft 365: $6.99 per month

What do companies use Microsoft Excel for?

Excel is a tool used for cash management, payment tracking, and budget monitoring in many companies. However, its limitations can significantly hinder effective financial management.

The manual data entry required by Excel poses considerable challenges. Without built-in features for automatic data integration, managing account balances becomes a time-consuming task fraught with potential errors. Moreover, Excel lacks real-time updates, complicating liquidity planning and forecasting. The need for manual updates increases the risk of losing crucial information from various scenarios. Consequently, Excel falls short of a comprehensive cash management solution.

Summary of Microsoft Excel

While Excel might suffice for basic cash management with a single account and a handful of transactions, it quickly shows its limitations as your financial landscape becomes more complex. For more sophisticated cash management needs, modern software offers advanced features and enhanced efficiency, making it the superior choice for comprehensive financial oversight.

3. Agicap

Agicap delivers comprehensive cash management software designed for medium-sized and large enterprises. The software provides a lot of different features to streamline your financial management, including cash management, supplier payments, expense tracking, receivables management, and liquidity forecasting.

Agicap pricing

At Agicap, the pricing depends on the number of companies, bank accounts, and a company’s revenue. To get a personalized quote, you need to provide these details. The exact cost is not available. Plus, you need to buy the whole platform – regardless if you only want access to a cash management tool. Agicap does offer a free trial, though the length of this trial period is not specified.

What do companies use Agicap for?

Agicap provides an extensive suite of cash management features, designed to streamline and enhance your financial management:

• Liquidity management: you get real-time insights into your liquidity and can better control it.
• Liquidity planning: you can create cash forecasts and scenarios to model different scenarios.
• Bank and ERP integration: you can synchronize your bank accounts and ERP systems for financial oversight.
• Expense management: you can streamline order processing, invoice handling, payment management, and company card oversight.
• Receivables management: you can monitor outstanding receivables and fine-tune payment terms to enhance your cash flow.

Summary of Agicap

Agicap offers a cash management solution designed to meet diverse needs. You get access to a lot of different features. However, it's important to note that accessing the complete suite of features requires a higher-tier subscription, which reflects the pricing.

4. Tidely

Tidely is a cash management solution tailored for SMEs and large enterprises. It offers real-time financial oversight and liquidity management with a comprehensive dashboard, cash flow forecasts, scenario planning tools, and reporting.

Tidely pricing

Tidely's pricing depends on your company's size, the number of users, and the number of bank accounts you need. They offer four plans: Starter, Professional, Business, and Enterprise. It's worth noting that the Starter and Professional plans have limitations – allowing for only 1 and 5 bank accounts, and 1 and 2 users, respectively. To help you with your decision, Tidely provides a 7-day free trial, so you can explore their features before committing.

• Starter: €45 per month (billed annually)
• Professional: €85 per month (billed annually)
• Business: €215 per month (annual billing)
• Enterprise: Customized prices

What do companies use Tidely for?

Tidely's cash management software offers a suite of features. Here’s what you can expect:

• Liquidity overview and control: gain an overview of your financial landscape with all your data integrated into one platform.
• Liquidity planning: plan your cash flow and explore multiple scenarios to anticipate how your liquidity could develop.
• Reporting: generate and share detailed reports with different stakeholders, ensuring clarity and alignment.
• Team and company management: oversee cash flow across various teams, structures, and business units.
• Transaction and invoice management: streamline your transaction and invoice processes by integrating your bank accounts and ERP systems.

Summary Tidely

With Tidely, you get cash management software that simplifies and optimizes your cash management tasks.

5. Commitly

Commitly is cash management software designed to provide a comprehensive financial health overview. It focuses on cash forecasting, with which you can plan liquidity, and is tailored for SMEs and startups.

Commitly pricing

Commitly’s pricing depends on factors like company size, user count, and the number of bank accounts. The software is available in three plans: Basic, Business, and Professional. Plus, you can explore all its features with a 14-day free trial.

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• Basic: €45.83 per month (annual billing)
• Professional: €70.83 per month (annual billing)
• Business: €120.83 per month (annual billing)

What do companies use Commitly for?

Commitly delivers a suite of tools designed to streamline cash flow management and liquidity planning:

• Bank and ERP integration: link your bank accounts and ERP systems with Commitly for a unified financial view.
• Liquidity overview: get a daily snapshot of your cash flow, with insights into both inflows and outflows.
• Liquidity planning: model various scenarios to project how your cash flow will evolve, enabling financial strategies.

Summary Commitly

Commitly’s cash management software provides a comprehensive snapshot of your financial position and critical metrics. With a focus on forecasting, it enables the planning and modeling of various cash scenarios.

6. Atlar

Atlar is cash management software for cash management, payment processing, and cash flow forecasting. The tool is tailored for medium to large enterprises.

Atlar pricing

Pricing for Atlar depends on company size and selected features; you’ll receive a customized quote. Atlar offers three plans: Essential, Professional, and Enterprise. The pricing details are not disclosed publicly, and Atlar does not offer a free trial. According to Atlar, implementation typically takes 2-3 months.

What companies use Atlar for

Atlar’s cash management software delivers comprehensive solutions designed to elevate your financial management:

• Cash management: get real-time insights into your cash positions and maintain a clear view of your financial health.
• Payments: enhance efficiency by streamlining and optimizing your payment processes.
• Cash flow forecasting: Develop liquidity plans and simulate different scenarios to anticipate future cash flow trends.

Summary of Atlar

With Atlar you access cash management software that covers basic needs. It simplifies cash flow management and forecasting, ensuring you stay on top of the essentials.

Summary: The 6 best cash management software

We’ve evaluated the top six cash management software options, and benchmarked them against crucial criteria. Each solution presents distinct strengths and weaknesses. To help you navigate these choices, you can use this comparison table, highlighting the key insights.

Our selection encompasses a range of options to suit both sophisticated needs and everyday simplicity. While some software packages offer a rich array of advanced features, they may require a more comprehensive onboarding process and a steeper learning curve. Conversely, other solutions are designed for quick setup and immediate use, providing essential cash management through an intuitive interface.

We might be a bit biased, but we believe you’ll appreciate working with re:cap Insights for these reasons:

• Transparent pricing: enjoy straightforward, upfront pricing with a 14-day free trial to explore our software risk-free.
• User-friendly interface: experience effortless navigation with our intuitive design, crafted for ease of use.
• Seamless onboarding: connect your data sources and utilize the software instantly – no lengthy setup is required.
• Comprehensive forecasting: model different cash scenarios and stress test your business to see how metrics develop under pressure.
• Unified account overview: monitor all your bank accounts, balances, and transactions in one place, featuring accurate bank transaction tagging with a 97% success rate.
• Financing opportunities: you can manage your finances with re:cap but also explore re:cap funding to finance your business.

Discover more about our offerings on our product pages. For additional information, visit our FAQs or reach out to us directly.