Financial reporting brings structure and clarity to an organization’s financial data. Deloitte reports that for decades, financial reporting was seen as a compliance exercise, but today business leaders are demanding sharper insights to drive operational value.
With that in mind, our article explores tools that go beyond Excel templates, we look at tools that turn transactions and figures into insights that help leadership make informed decisions and meet external compliance standards. Through key statements like the balance sheet, income statement, and cash flow statement, finance teams tell the story of business performance and stability.
But as businesses grow, so does the complexity of consolidating and validating that information.
Modern financial reporting software is designed to handle that challenge, automating data collection, improving accuracy, and enabling faster analysis.
The sections that follow outline the essential capabilities to look for and highlight several leading tools that can strengthen your reporting process.
Key Features to Look For In Financial Reporting Tools
The best financial reporting software builds confidence in every number that reaches the boardroom.
When evaluating tools, CFOs should prioritize functionality that improves accuracy, collaboration, and speed.
- Data Integration: Connects directly to ERP, CRM, and other financial systems to ensure reports reflect a single, up-to-date source of truth.
- Automation: Reduces manual consolidation, reconciliation, and report generation, minimizing errors and freeing time for analysis.
- Customizable Reporting: Enables teams to design and modify reports to meet internal and external requirements.
- Collaboration Tools: Allows multiple stakeholders to review, comment, and approve reports within a secure environment.
- Auditability & Compliance: Tracks changes, maintains version history, and ensures adherence to financial and regulatory standards.
- Scalability: Supports growing data volumes and evolving reporting needs without sacrificing performance.
These capabilities form the foundation of a reliable, efficient, and insight-driven reporting process.
Now with that, let's take a look at 7 financial reporting tools that every CFO should consider.
7 Of The Best Financial Reporting Software Tools Reviewed
Vena
Vena delivers a full-scale, enterprise-grade financial reporting and planning platform built on a centralized database that consolidates data from ERP, GL and operational systems. Finance teams can automate the refresh of report templates, perform ad-hoc variance analysis, and distribute reports via intuitive workflows, cutting manual effort and improving confidence in every output.
With features such as locked Excel templates, tight version and permission control, and integrations with leading GL and ERP systems (NetSuite, Oracle, Sage Intacct, Microsoft Dynamics and more), Vena offers the governance, scalability and visibility that large multi-entity organizations require.
Vena’s AI-powered insights and predictive analysis capabilities enhance decision-making by surfacing key trends, detecting anomalies, and identifying performance drivers across business units. Combined with its “Connected Planning” approach, Vena unifies reporting, forecasting, and budgeting, giving CFOs a single, intelligent platform to oversee performance across regions, departments, and functions.
Why it stands out for enterprise:
- Centralized data hub enables one source of truth for reporting and analytics
- Automated workflows and built-in templates accelerate month-end closes and board-level reporting
- Enterprise-grade governance ensures compliance, audit readiness and user permissions control
- Strong integration ecosystem supports complex, global operations with multiple entities and systems
Best for: Large organizations seeking a scalable, integrated reporting and planning solution that supports high-volume data, multiple entities/currencies, and tight governance across finance teams.
Workday Adaptive Planning
Workday Adaptive Planning is a leading enterprise performance management platform designed to unify planning, forecasting, and financial reporting within a scalable cloud environment. Built for large and fast-growing organizations, it enables finance teams to model complex business scenarios, automate consolidations, and deliver real-time insights without relying on IT.
The platform’s in-memory engine supports sophisticated, multidimensional modeling, allowing CFOs and finance leaders to plan and report across multiple entities, currencies, and business functions. Seamless integration with the broader Workday ecosystem (including Financial Management and Human Capital Management) ensures consistent data and alignment across the enterprise.
Adaptive Planning also offers a highly intuitive interface with drag-and-drop report builders, dashboards, and analytics, empowering users across departments to access and explore key financial metrics.
Why it stands out for enterprise:
- Deep integration with the Workday suite ensures data consistency and transparency across HR, finance, and operations
- Scalable architecture supports complex, multi-entity organizations with large datasets and dynamic planning needs
- Real-time collaboration and self-service reporting capabilities enhance agility and accessibility
- Trusted by global enterprises for its reliability, governance, and seamless user experience
Best for: Large enterprises and multinational organizations seeking a fully cloud-based, integrated platform for financial reporting, planning, and analytics.
Syntellis Performance Solutions
Syntellis Performance Solutions (formerly Axiom) provides an enterprise-grade suite for financial reporting, performance management, and decision support. Built specifically for complex, data-intensive sectors like healthcare, higher education, and financial services, Syntellis delivers deep analytical capability and domain-specific intelligence that goes beyond traditional FP&A platforms.
Its Axiom software centralizes data across multiple systems to create a unified view of financial and operational performance. Built-in benchmarking, cost accounting, and profitability analysis tools help organizations compare performance across entities and measure outcomes against industry standards. Robust reporting workflows and audit controls support compliance with regulatory and governance requirements in heavily regulated environments.
Syntellis integrates with major ERP and EHR systems to provide real-time insights, enabling finance teams to model, forecast, and report with precision. Dashboards and scenario planning features help leaders make data-driven decisions quickly and confidently.
Why it stands out for enterprise:
- Deep industry specialization, particularly in healthcare, higher education, and financial services
- Built-in benchmarking and cost analysis tools tailored to regulated sectors
- Strong governance, auditability, and compliance features for enterprise oversight
- Highly configurable platform capable of supporting multi-entity and multi-system environments
Best for: Large, data-intensive organizations in regulated industries that require advanced analytics, compliance-ready reporting, and industry-specific performance insights.
OneStream
OneStream is a unified corporate performance management (CPM) platform built for large, complex enterprises that require real-time visibility across global operations. It streamlines financial consolidation, reporting, planning, and analytics within a single, extensible solution.
At its core, OneStream’s platform automates data integration from ERP and subsidiary systems to create a centralized, trusted source of truth. Its powerful consolidation engine supports intercompany eliminations, multi-currency conversions, and ownership structures out of the box.
The platform’s dynamic reporting and analytics tools allow finance teams to drill into results, analyze trends, and generate management and statutory reports with confidence.
Why it stands out for enterprise:
- Unified platform covering consolidation, planning, and reporting without data movement
- Enterprise-level scalability for multi-entity, multi-currency, and complex ownership structures
- Robust governance and audit capabilities supporting compliance and transparency
- Extensible architecture via the OneStream MarketPlace for future functional growth
Best for: Global enterprises seeking a single, scalable platform to unify consolidation, reporting, and performance management across all business units.
Prophix
Prophix delivers a cloud-based Corporate Performance Management (CPM) platform that automates key financial processes, including reporting, budgeting, and forecasting.
With built-in automation and AI-assisted capabilities, Prophix enables users to identify variances, uncover anomalies, and surface insights faster. Its reporting tools allow finance teams to consolidate data across entities, generate board-ready reports, and visualize key performance metrics through dynamic dashboards.
The platform integrates easily with leading ERP and data systems, maintaining consistency and transparency across business functions. Prophix also emphasizes governance, with role-based permissions, audit trails, and version control to support accuracy and compliance.
Why it stands out for enterprise:
- Automation-first design reduces manual reporting and accelerates month-end closes
- AI-driven insights help detect anomalies and improve forecast accuracy
- Strong reporting and dashboarding capabilities for financial and operational visibility
- Scalable, cloud-based architecture designed for collaboration and control
Best for: Mid-to-large organizations that want to automate reporting and forecasting while maintaining governance, flexibility, and scalability across teams.
Anaplan
Anaplan is a Connected Planning platform built to unify financial, operational, and strategic planning across large organizations. Its powerful modeling engine enables finance teams to link data, scenarios, and performance metrics from every corner of the business.
The platform’s multi-dimensional modeling capabilities allow enterprises to analyze complex relationships across revenue, cost, workforce, and supply chain variables in real time. With its intuitive cloud interface and advanced analytics, Anaplan helps finance leaders create rolling forecasts, perform “what-if” analysis, and align financial outcomes with broader business strategy.
Anaplan’s flexibility makes it especially valuable for global enterprises managing diverse business models and fast-changing conditions. By integrating data from ERP, CRM, and other enterprise systems, it provides CFOs with a holistic view of performance and the agility to adjust plans as markets evolve.
Why it stands out for enterprise:
- Unmatched scalability and modeling flexibility for multi-functional planning and reporting
- Real-time collaboration across finance, operations, and executive teams
- Deep integrations with ERP, CRM, and HR systems for a unified data ecosystem
- Powerful scenario analysis and “what-if” modeling for strategic decision-making
Best for: Global enterprises seeking a connected planning platform that links financial and operational performance to drive alignment, agility, and long-term growth.
Choosing the Right Financial Reporting Software
The right financial reporting software lets you create the link between data and decision-making. Whether your organization needs advanced consolidation across global entities, faster month-end close cycles, or integrated planning and forecasting, the right platform, from FP&A to reporting can transform how finance adds value to the business.
Each of the tools covered here, Vena, Workday Adaptive Planning, Cube, Syntellis, OneStream, Prophix, and Anaplan brings a distinct approach to financial reporting.
Some prioritize scale and enterprise governance, others flexibility and speed. The right choice depends on your organization’s structure, existing systems, and strategic goals. For enterprise CFOs, the key is finding a solution that delivers accuracy, control, and visibility at scale so that your finance team is empowered to not just to report the past, but to shape the future with confidence.
