Planful vs Synder
Last Updated:Our analysts compared Planful vs Synder based on data from our 400+ point analysis of Accounting Software, user reviews and our own crowdsourced data from our free software selection platform.
Product Basics
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Product Insights
- Conduct Ad hoc Analysis: Simplify complex ad hoc analysis by quickly creating financial and operational models while simultaneously checking the impact of these models on the bottom line.
- Close Books Faster: Decrease the time it takes to close books by automating data collection, aggregation and validation. Make data secure and compliant with standards and protocols.
- Improve Collaboration: Collaborate in a more efficient manner with current data and real-time insights. Get the power to make quick and accurate decisions with more confidence.
- Get Insights: Make well-informed decisions by gaining insights from across an organization to drive long-term value and growth. Automate manual processes to gain more time for strategic planning processes, analyzing and collaborating rather than worrying about spreadsheets.
- Automate Manual Processes: Save time and reduce errors by automating manual financial processes. Ensure that all financial processes are done with minimum manual effort and run more efficiently.
- Time Efficiency: Synder automates repetitive accounting tasks, freeing up valuable time for your team to focus on strategic financial planning and analysis.
- Accuracy Improvement: By minimizing manual data entry, Synder reduces the risk of human error, ensuring your financial records are precise and reliable.
- Real-Time Insights: With Synder, you gain immediate access to up-to-date financial data, enabling informed decision-making and agile business responses.
- Seamless Integration: Synder connects effortlessly with popular platforms like QuickBooks and Xero, streamlining your workflow and maintaining data consistency across systems.
- Enhanced Cash Flow Management: By providing a clear view of your financial transactions, Synder helps you manage cash flow more effectively, ensuring liquidity and operational stability.
- Scalability: As your business grows, Synder scales with you, accommodating increased transaction volumes without compromising performance or accuracy.
- Compliance Assurance: Synder helps maintain compliance with financial regulations by keeping detailed and organized records, simplifying audits and reporting.
- Cost Reduction: By automating accounting processes, Synder reduces the need for extensive manual labor, lowering operational costs and increasing profitability.
- Data Security: Synder employs robust security measures to protect sensitive financial information, giving you peace of mind about data privacy and integrity.
- Customizable Reporting: Generate tailored financial reports that meet your specific business needs, providing insights that drive strategic growth and efficiency.
- Improved Collaboration: Synder facilitates better communication and collaboration among team members by providing a centralized platform for financial data access and management.
- Enhanced Customer Experience: By streamlining billing and payment processes, Synder improves customer satisfaction and strengthens client relationships.
- Reduced Reconciliation Time: Synder simplifies the reconciliation process by automatically matching transactions, saving time and reducing discrepancies.
- Multi-Currency Support: Manage international transactions effortlessly with Synder's multi-currency capabilities, expanding your business's global reach.
- Environmental Impact: By digitizing financial processes, Synder reduces paper usage, contributing to a more sustainable and eco-friendly business operation.
- Modern Tools: Combine the need for structured and dynamic planning to empower organizations to make well-informed decisions in a quick and strategic manner.
- Financial Consolidation: Accelerate month-end closing cycles with financial consolidation. Enhance financial planning and reporting by leveraging data from a single source of truth. Get pre-built consolidation functionality for currency conversion and reporting, currency translation adjustment calculations and posting. Implement functional, administrative and setup changes without the need for IT experts. Boost teams’ agility when reacting to changes in organization, strategy, regulation and accounting protocol. Ensure trusted and consistent global reporting by automatically mapping financial data. Keep tabs from start to end on balances, and analyze financial data across consolidation activities.
- Structured Planning: Save time and reduce errors by automating labor-intensive financial planning activities. Avoid costly and disruptive customization fees, save time and reduce risk of error with predefined planning and reporting templates. Automate integration from any ERP, CRM or HCM. Create a single source of financial truth by automatically collecting, aggregating and validating financial data. Ensure consistency and accuracy by creating and modifying structured financial reports and elevating financial conversations.
- Dynamic Planning: Analyze, plan and make confident decisions with dynamic planning. Build custom-tailored financial models. Leverage customization across processes, functions and use cases. Configure planning experiences and give users the flexibility to plan for anything. Connect data sources from separate systems in one unified, cloud-based platform. Boost financial decision making with a single source of truth. Get insights and make course corrections with real-time data refreshing. Inculcate companywide collaboration culture by providing the right data at the right level to the right person.
- Integration: Automate data integration to reduce manual intervention and easily transform data with over 200 pre-built connectors. Adjust to automatic data processing with a growing integration platform. Check status and activity of deployed integrations from a centralized place. Ensure data integration process flows are repeatable, automated and secure, and provide audit trails required by internal and external auditors. Understand changes in data with multiple validation points across integration workflows.
- Reporting: Leverage reporting formats and delivery options to meet financial, management and ad hoc needs. Ensure data accuracy and transparency with self-service reporting and automated report distribution. Automate collection and aggregation of financial and business data into a single cloud-based platform. Ensure everyone is working with current and accurate information derived from a single source of truth. Boost financial IQ with self-service reporting capabilities. Create a more agile environment with impactful financial decision making.
- Annual Operating Plan: Build collaborative financial plans that align with business objectives. Turn annual plans into quarterly or monthly rolling forecasts, and check models for different scenarios to determine how to realign and adjust strategies.
- Workforce Planning: Plan accordingly for workforces by connecting HR, finance and operational data together. Create a headcount plan that can be adjusted to changing marketing requirements. Gain insight to build winning strategies and utilize employees as strategic assets. Boost financial IQ to understand and influence impacts on the financial health of workforce costs.
- Cash Flow Forecasting: Assess the impact of decisions by gaining complete control and visibility over finances. Reallocate cash by identifying trends and understanding levers. Mitigate cash flow risk by adjusting investment opportunities.
- Scenario Analysis: Analyze every option by planning across multiple case scenarios and assessing key drivers. Bring agility by optimizing current period results. Gain the flexibility to discover deeper insights across a broad range of models. Align executives and business partners with data-driven decisions. Check the impact of plan changes from every level with immediate results.
- Rolling Forecasts: Adjust to sudden changes, keep forecasts current and business agile with continually rolling planning periods. Automatically keep tabs on the impact of actuals on forecasted trends. Improve risk analysis by quickly identifying opportunities and risks as business landscapes evolve. Align rolling forecasts by collaborating across different departments. Gain real-time insights to redirect resources and priorities and align them with business objectives.
- Automated Data Synchronization: Seamlessly integrates with platforms like Shopify, Stripe, and PayPal to automatically sync transaction data into your accounting software.
- Multi-Currency Support: Handles transactions in various currencies, automatically converting them to your home currency using up-to-date exchange rates.
- Detailed Transaction Categorization: Offers advanced rules to categorize transactions accurately, ensuring your financial records are organized and precise.
- Comprehensive Reporting: Generates detailed financial reports, including profit and loss statements, to provide insights into your business's financial health.
- Sales Tax Management: Automatically calculates and records sales tax for each transaction, simplifying tax compliance and reporting.
- Customizable Invoicing: Allows you to create and send professional invoices tailored to your brand, with options for recurring billing.
- Real-Time Inventory Tracking: Monitors inventory levels across multiple sales channels, helping you manage stock efficiently and avoid overselling.
- Secure Data Handling: Employs robust security measures, including encryption and secure data storage, to protect sensitive financial information.
- Bank Reconciliation: Facilitates easy reconciliation of bank statements with accounting records, reducing errors and ensuring accuracy.
- Flexible Payment Options: Supports various payment methods, including credit cards and ACH transfers, to accommodate customer preferences.
- Advanced User Permissions: Provides customizable access controls, allowing you to assign specific roles and permissions to team members.
- Comprehensive Audit Trail: Maintains a detailed log of all transactions and changes, ensuring transparency and accountability in financial management.
- Seamless Integration with Accounting Software: Works smoothly with popular accounting platforms like QuickBooks and Xero, enhancing your existing financial workflows.
- Custom Rule Creation: Enables you to set up personalized rules for transaction categorization and processing, tailoring the system to your business needs.
- 24/7 Customer Support: Offers round-the-clock assistance through various channels, ensuring you receive help whenever needed.
Product Ranking
#44
among all
Accounting Software
#59
among all
Accounting Software
User Sentiment Summary
82 reviews
240 reviews
Planful has a 'great' User Satisfaction Rating of 86% when considering 82 user reviews from 2 recognized software review sites.
Synder has a 'excellent' User Satisfaction Rating of 96% when considering 240 user reviews from 1 recognized software review sites.
Awards
Synder stands above the rest by achieving an ‘Excellent’ rating as a User Favorite.
Synopsis of User Ratings and Reviews
Planful has garnered a reputation for its robust financial reporting and analysis capabilities, particularly excelling in budgeting, forecasting, and consolidation. Users appreciate the software's ability to handle complex financial models and its flexibility in generating custom reports. The platform's intuitive interface and user-friendly design have also been praised, making it accessible to both finance professionals and non-financial users. However, some users have noted that the initial setup and implementation process can be time-consuming and may require significant support from Planful's team. Additionally, while Planful offers a wide range of features, some users have expressed a desire for more advanced functionality in areas such as workforce planning and project accounting. Compared to competitors like Adaptive Insights and Vena Solutions, Planful stands out for its comprehensive financial consolidation capabilities and its ability to handle large volumes of data. Its reporting and analytics tools are also considered to be more user-friendly and customizable. However, Adaptive Insights may be a better choice for organizations seeking a more cloud-based solution with stronger integrations with other business applications. Vena Solutions, on the other hand, may be more suitable for companies with complex financial modeling needs due to its Excel-based interface. Overall, Planful is best suited for mid-sized to large enterprises with complex financial reporting and analysis requirements. Its strengths lie in its budgeting, forecasting, consolidation, and reporting capabilities, making it an ideal choice for organizations looking to streamline their financial processes and gain deeper insights into their financial performance. However, companies with limited IT resources or those seeking a more cloud-based solution may want to consider alternative options.
Is Synder accounting software really all it's cracked up to be? User reviews from the past year suggest that Synder excels at simplifying complex accounting tasks, particularly for businesses with a high volume of online transactions. Users rave about its ability to automate transaction data import from popular platforms like Stripe, Square, and PayPal, eliminating the need for manual entry and reducing the risk of errors. This feature is particularly valuable for businesses that process a large number of transactions, as it saves significant time and effort. However, some users have reported occasional glitches and display issues when using certain browsers. While Synder integrates seamlessly with accounting software like QuickBooks and Xero, some users have expressed a desire for broader native integration with other business tools. Despite these minor drawbacks, Synder is highly regarded for its intuitive interface, robust features, and responsive customer support. Synder is best suited for businesses heavily reliant on e-commerce and online payment platforms. Its automation capabilities, accurate reconciliation features, and support for multiple payment gateways make it an invaluable tool for streamlining financial operations and ensuring accurate bookkeeping. Synder is a game-changer for businesses looking to simplify their accounting processes and gain better control over their financial data.
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