Top software for management accounting in 2025

Looking for top management accounting software? This article is based on my experience of using several solutions to streamline your financials in 2025.

Choosing the right management accounting software is more than a tech upgrade—it’s a strategic move.

The numbers are clear: robust financial tools are the backbone of operational success.

  • Moreover, 40% of these companies stated that the need for improved functionality was the primary driver. Unsurprisingly, the finance and accounting departments, alongside IT, were the biggest influencers in ERP purchasing decisions, each accounting for 23%. 
  • Yet despite its importance, only 26% of workers on average use ERP software in the workplace, suggesting a need for more accessible, intuitive platforms.

This article shares my hands-on experience with top management accounting solutions, focusing on how they help streamline financials in 2025 and support better business decisions.

TL;DR

  • Management accounting software aids in budgeting, forecasting, cost control, and compliance, all of which are essential for achieving a competitive advantage.
  • Key features to look for in management accounting software include automation of repetitive tasks, real-time financials, and cloud-based capabilities for improved collaboration.
  • Integration with existing systems, especially ERP solutions, ensures data accuracy, improves operational efficiency, and enables informed strategic decision-making based on financial analysis.
  • NetSuite is my go-to management accounting software due to its customisation and scalability.

Why use management accounting software?

The role of management accounting software in modern businesses can’t be overstated. 

These tools are designed to help founders and MDs make better decisions by providing critical financial and operational data. With budgeting and forecasting features, businesses can forecast future financials and plan accordingly. 

Cost control is another big benefit of management accounting software. These tools offer detailed analysis to help businesses identify and eliminate inefficiencies, ultimately improving overall profitability. 

Performance measurement is equally essential; using tools like KPIs and variance analysis, accountants can track their business objectives and make sure they’re on the right path.

Management accounting software is crucial for compliance and risk management, ensuring accurate financial reporting and enabling businesses to identify and mitigate risks through financial impact assessments. Additionally, it forecasts future cash requirements, enabling companies to manage their cash flow effectively and prevent liquidity issues.

Features you can’t do without from management accounting software

When choosing accounting practice management software, prioritise features that improve efficiency and client management. Customisable workflows and modules enable businesses to tailor the software to their specific needs, making it a perfect fit. 

Workflow management capabilities streamline operations, including capacity management and internal communication, which is essential for any accountancy practice.

Features include:

  • Time tracking increases productivity by highlighting bottlenecks and areas for improvement.
  • Secure document management.
  • E-signature requests, which enable efficient and compliant client communication.

A user-friendly interface and customisable dashboards make the software even more usable, allowing accounting practices to manage their daily, weekly, monthly, and yearly tasks.

Integration with existing software

Integrating management accounting software with existing systems is crucial for data accuracy and operational efficiency. Avoiding time spent on data duplication and errors is key; hence, integration is essential for accounting operations. Considering how the software fits into the existing environment ensures seamless integration.

ERP systems are ideal for this purpose as they integrate accounting and operational data, enabling deeper analysis that would be impossible with separate systems. Unifying information within ERP systems allows businesses to review past and present data to forecast future outcomes. Clear, visual dashboards within ERP systems give visibility to performance, supporting executive decision-making.

Moreover, ERP platforms help clean, organise and analyse data to deliver meaningful insights that drive action. They offer single sign-on access and cross-departmental visibility, enabling advanced data analysis and insights. 

A survey found that finance and accounting employees are significant influencers in purchasing ERP software, highlighting the importance of user needs in software selection.

Automate Repetitive Tasks

Automation features in accounting software enable professionals to focus on more valuable tasks by automating repetitive work. Manual bookkeeping tasks, such as invoicing, expense tracking, and VAT returns, can be automated, minimising manual entry and human error. This enhances operational efficiency, enabling teams to concentrate on strategic tasks. Automation also centralises finance data, improves workflow transparency and enhances collaboration between teams. 

NetSuite AP automation, for example, automates accounts payable processes, removing manual tasks and improving accuracy and cash flow management. Customisable approval workflows in NetSuite further streamline the approval process, reduce manual tasks and improve efficiency.

NetSuite’s payment processing feature also provides enhanced control and security for transactions, simplifying the payment process. Automation of accounts payable processes reduces the need for physical document storage and lowers the operational overhead associated with manual processes.

Real-time financials

Real-time financials enable businesses to make quicker, better decisions, avoiding costly mistakes. With real-time dashboards from automated systems, finance teams can see trends and make decisions. Instant access to critical data enables quicker and more informed business decisions that align with company goals.

Additionally, real-time insights enable the rapid identification of financial irregularities, allowing businesses to address potential issues proactively. Better cash flow management will enable companies to forecast expenses and track overdue payments.

Reducing human errors through automation improves financial data accuracy and saves time.

Team Collaboration

Cloud platforms offer several benefits to accounting teams:

  • Instant access to data so teams always have the latest information.
  • Remote work capabilities so teams can collaborate from anywhere.
  • Multiple users can access and work on financial data simultaneously, enhancing overall collaboration.

Integrated communication tools within cloud platforms eliminate the chaos of managing multiple email threads. Leading management software for accounting firms emphasises features such as user collaboration and streamlined billing processes. Collaboration improves when all team members work with the same real-time data, reducing duplicated efforts.

Top management accounting software solutions in 2025

Top management accounting software in 2025 includes practice management software for businesses of all sizes and all-in-one platforms for accounting firms. Users can upgrade or cancel their accounting packages without any long-term contracts for flexibility.

These software solutions prioritise user experience, are fast and straightforward, and feature a clean and modern design.

NetSuite

NetSuite is recognised as a comprehensive ERP solution with robust accounting and financial management capabilities. Leading solutions like NetSuite offer comprehensive services that encompass essential areas, including accounting and human resources. With AI-driven automation, NetSuite minimises human error and improves financial controls by automating routine tasks.

The software features advanced reporting tools that provide real-time insights and expedite the financial close process, enabling you to make informed decisions. NetSuite automates accounts payable and receivable processes, streamlines workflows from invoicing to collections and reduces administrative burden. 

It supports applications including NetSuite solutions and SuiteApps, such as Customer Relationship Management (CRM), human capital management, product lifecycle management, supply chain management, and warehouse management systems.

Attend a live NetSuite demo to see how you can automate and incorporate routine business processes and leverage underused features. 

This hands-on experience helps in understanding functionalities and implementing best practices within NetSuite to enhance business processes. Seeing NetSuite in action provides a clear picture of how it can be tailored to specific needs.

On-demand NetSuite demos

NetSuite on-demand demos are ideal for those who want to explore features and business processes at their own pace. Available 24/7, these demos give you an autonomous learning experience that fits your timetable, whether you’re a morning or night owl.

These on-demand showcases are especially useful for companies considering an ERP solution during their initial decision-making phase. These demos help you understand how NetSuite can enhance your operations. This risk-free trial provides a comprehensive understanding of what NetSuite offers, without obligation, and offers insight into how the software can fit your business.

Sage Intacct

Sage Intacct is a cloud-based accounting and financial management software designed for mid-sized and growing businesses, making it an excellent choice for those looking to expand their operations.

The software features accounting practice management tools to streamline financial operations. Its ability to automate workflows and give real-time insights makes it a must-have for any accounting firm looking to grow and be more efficient, especially when using accountancy practice management software.

BrightManager

BrightManager is for small to medium-sized accountancy practices, so it is ideal for firms that need Anti-Money Laundering (AML) checks. Known for its features designed for accountancy companies, BrightManager automates onboarding processes, including professional clearance and letters of engagement, streamlining workflows for accountants with massive efficiency.

However, setting up BrightManager can be a challenge, which may require additional resources or support to ensure smooth implementation.

The standard plan supports up to 12 users and is billed annually.

Karbon

Karbon is a collaborative practice management platform specifically designed for accounting firms. A feature of Karbon is its strong focus on collaboration, which includes integrated email management to facilitate communication. Using Karbon can increase efficiency for accounting firms, with the average employee saving 18.5 hours a week, resulting in more productivity.

The platform’s email management and task automation help to streamline operations and reduce administrative burden on employees. 

Benefits of Cloud-Based Management Accounting Software

Cloud-based accounting software offers:

  • Secure remote access, allowing teams to work from anywhere with an internet connection.
  • Easier management of client relationships.
  • Scalability so businesses can adjust their service plans as their accounting needs change, and only pay for what they need.

Additionally, accounting software reduces upfront costs with subscription payment models instead of large software purchases. 

No installation required, so updates are seamless.

These benefits collectively improve business performance and client managemen,t so cloud technology is an essential part of modern accounting practices.

How to Choose the Right Management Accounting Software

Choosing the right accounting practice management software involves:

  • Identifying your business needs.
  • Involving end-users in the selection process increases satisfaction with the chosen software.

Trying a trial period to test the software before committing to see if it meets all operational requirements.

Cost flexibility is also essential; smaller firms prefer subscription models over one-time purchases. Seeking independent advice from experts who know the software and opting for established software with a large user base ensures support and updates for small practices and businesses, including those with small budgets, as well as large firms.

ERP for Financial Services

ERP in financial services plays a key role in an organisation’s financial health. These systems enhance cash flow and facilitate better decision-making by providing instant access to financial information. Finance teams can manage liquidity more effectively by utilising real-time data to make informed decisions about cash and identify opportunities to increase profits.

Instant access to financial metrics is invaluable for strategic financial planning, especially in a volatile market.

Automation is another big benefit of ERPs. Automating tasks such as reconciling payments and managing budgets reduces manual errors and enhances overall financial control. Automated reporting enables faster and more accurate financial statements, resulting in quicker closing and compliance with regulatory requirements.

The scalability and future-proofing of ERPs mean they grow with the business, adapt to new functionality, and deliver critical insights for long-term success.

ERP for Financial Institutions

ERP for financial institutions is designed to handle increasing transaction volumes and boost operational efficiency. It covers a range of financial management activities such as:

These tools enable institutions to manage their financial processes and keep accurate records, which is essential for regulatory compliance.

Automation in ERP platforms also strengthens financial regulation by streamlining billing periods, subscription renewals and automating accounts receivable and payable processes. 

Real-time analytics provided by ERPs like NetSuite give finance professionals instant access to key financial metrics, enabling them to make informed decisions based on current data.

Summary

In summary, adopting advanced management accounting software in 2025 is essential for any accounting firm or business seeking to enhance efficiency, accuracy, and overall business performance.

These tools offer numerous benefits, including automating repetitive tasks, providing real-time financial insights, securing client data, and enhancing team collaboration. Integration with existing systems and cloud-based solutions adds to their value.

By choosing the right software for your business needs, involving end-users in the decision-making process and trialling the software, businesses can ensure they get the best solution for their practice.

Frequently Asked Questions

What are the key benefits of using management accounting software?

The benefits of management accounting software include better decision-making, budgeting and cost control, performance measurement, compliance, and cash flow management. Implementing this software enables organisations to streamline their financial processes and control their financial health.

How does automation in accounting software improve efficiency?

Automation in accounting software improves efficiency by reducing manual data entry and human error, so finance professionals can focus on higher-value tasks and overall operational productivity.

Why is integration with existing systems important for accounting software?

Integration with existing systems is key for accounting software as it improves data accuracy, streamlines processes and reduces time lost on data duplication and errors. This means a more efficient overall process.

What are the advantages of cloud-based accounting software?

Cloud accounting software enhances business performance by offering secure remote access, scalability, and reduced upfront costs. It also means seamless updates, so client management is more efficient.

How can ERP systems benefit financial institutions?

ERP systems can benefit financial institutions by handling high transaction volumes, increasing operational efficiency, ensuring regulatory compliance and delivering real-time analytics. These capabilities streamline financial processes and facilitate more informed decision-making.