Which finance tools should you choose for your company? This question lingers in every financial leader’s mind today.
As a CFO, you are responsible for managing the financial health of your company. You need to keep a close eye on revenue, expenses, and profit margins. But in today's digital age, there's another critical factor that you must consider: your tech stack.
A modern tech stack can help your e-commerce business thrive in a competitive landscape. And finance tech helps you improve compliance, make better decisions, and automate tasks.
In this blog post, we’ll explain:
- How does a tech stack look for e-commerce CFOs?
- 10 best finance tools for e-commerce CFOs
- Deploy e-commerce SaaS tools to win!
Let’s dive in.
How does a tech stack look for e-commerce CFOs?
An e-commerce tech stack includes the set of tools and technologies used by a chief financial officer (CFO) to manage the financial operations of an e-commerce business. It includes software such as accounting, budgeting, forecasting, and analytics tools.
The specific tools that make up an e-commerce tech will vary depending on the size and complexity of the business, but some common tools include:
- Forecasting software: Forecast future financial performance.
- Accounting software: Track financial transactions, generate financial reports, and manage taxes.
- Budgeting software: Create and track budgets.
- Analytics software: Analyze financial data.
In addition to these core tools, other tools that may be used include:
- Tax automation software: Calculate, collect, and remit sales tax.
- Spend management software: Track and manage company spending.
- Risk management software: Assess and manage financial risks.
10 Best finance tools for e-commerce CFOs
Below, we delve deeper into some common examples in each of the above categories. They include:
#1 Bluecopa
Bluecopa is a finance observability platform that slashes data into decision cycles. By utilizing user-friendly dashboards and apps, its secure data foundation transforms data into actionable insights. It comes with an Excel-like interface with ready-to-go integrations. It elevates the finance leaders’ role as a strategic partner and a catalyst for growth.
Features
- Finance observability
- Metrics & statements
- Scenarios & forecasts
- Continuous planning
- Reconciliations
- Reporting & analytics
Founded in
- Dec 2021
Market segment
- Mid-market
- Enterprise
User type
- CFOs
- VP/Director of Finance
- Finance analyst
Industry type
- FP&A, analytics, R2R
Pricing
- Custom pricing (usage-based)
Headquarters
- India
Website
#2 Xero
Xero is a cloud-based accounting software platform that gives teams real-time access to financial data. With over 3.5 million subscribers globally, Xero is a trusted and reliable solution for businesses of all sizes. Its ecosystem of over 1,000 third-party apps and 300 plus connections to banks and other financial partners makes it easy to integrate Xero with other systems and automate accounting tasks.
Features
- Automatic data entry
- Bank connections
- Smart bank reconciliation
- Online billing
- Automated financial reporting
- Business dashboards
- Integration with other apps
Founded in
- 2006
Market segment
- Small businesses
Industry type
- Accounting, software, and information technology
Pricing
- Free trial
- Three pricing editions - early ($13 per month), growing ($37 per month), and established ($70 per month)
Headquarters
- Wellington
Website
Accounting Software – Do Beautiful Business | Xero
#3 Planful
Planful is a cloud-based financial performance management (FP&A) software that helps CFOs, and their teams streamline planning, budgeting, consolidation, reporting, and visual analytics. Planful is the pioneer of FP&A cloud software, and it is used by companies of all sizes around the globe.
Features
- Report types: financial close
- Custom: financial close
- Standard: financial close
- Audit: financial close
- Journal entries: financial close
- Distribution: financial close
Founded in
- 2000
User type
- Teams including finance, accounting, sales, marketing, operations, HR, and IT
Industry type
- Computer software, insurance, and other
Pricing
- Custom pricing
Headquarters
- Redwood City, CA
Website
The Financial Performance Management Platform | Planful
#4 Agicap
Agicap is a cash flow management software that centralizes and processes financial data. It provides a clear and reliable view of the current and future cash situation from a single interface, enabling better decision-making.
Finance teams can manage, process, and optimize their accounts payable and accounts receivable from the same platform. This includes simplified payment processes and automated workflows.
Features
- Cash flow monitoring
- Supplier payments
- Customer follow-ups
Founded in
- 2016
Market segment
- SMBs and mid-market companies
Industry type
- Software, information technology
Pricing
- Free trial
- Customized pricing
Headquarters
- London, Europe
Website
Cash flow management software | Agicap
#5 Anaplan
Anaplan is a cloud-native SaaS platform that helps businesses optimize their business planning and performance management. Anaplan's planning tools can be used for a variety of tasks, including budgeting, forecasting, modeling, pricing optimization, analysis, and more.
Features
- Planning
- Forecasting
- Budgeting
- Reporting templates
- Data visualization
- Custom reporting
Founded in
- 2006
User type
- Finance and operational leaders
Industry type
- Information technology and services and financial services
Pricing
- Editions: Basic, professional, and enterprise
Headquarters
- San Fransico, California
Website
Drive business performance with connected planning platform | Anaplan
#6 Spendesk
Spendesk is a comprehensive spend management platform that gives you complete visibility into your company's spending. With Spendesk, you get a single, easy-to-use solution for corporate cards, invoice payments, expense reimbursements, budgets, approvals, reporting, compliance, and pre-accounting.
Features
- Receipt capture
- Credit card integration: expense management
- Bank/credit card integration: expense reports
- Embedded AI/ML
- Mileage tracking
- APIs and integrations
Founded in
- 2016
User type
- Financial leaders and CFOs
Industry type
- Computer software, information technology and services, and financial services
Pricing
- Customized pricing: starter, essentials, and scale
Headquarters
- Paris
Website
Company cards & spend management software | Spendesk
#7 Avalara
Avalara is dedicated to assisting businesses in achieving tax compliance. Their customers confront challenging tax responsibilities enforced by various tax authorities at the state, local, and global levels. By leveraging Avalara, businesses can efficiently and accurately manage these requirements, benefiting from improved solutions.
Features
- Tracking
- Integrations
- Remittance
- Tax planning
- Tax filing
- Workflows
Founded in
- 2004
Industry type
- Retail, wholesale, computer software
Pricing
- Free trial
- Custom pricing
Headquarters
- Seattle, Washington
Website
Tax Compliance Software - Avalara
#8 LogicGate
Risk Cloud is a versatile governance, risk, and compliance (GRC) platform that operates without the need for coding. By integrating purpose-built applications with user-friendly technology, Risk Cloud empowers risk professionals to develop, refine, and effectively communicate a robust risk strategy that stands out in the market.
Features
- Reporting and analytics
- Integrations and APIs
- Risk quantification
- Security
- Risk cloud exchange
Founded in
- 2015
Industry type
- Software, financial services, IT
Pricing
- Custom pricing
Headquarters
- Seattle, Washington
Website
Governance, Risk, and Compliance Software | GRC Technology Platforms (logicgate.com)
#9 Chargebee
Chargebee is a subscription management platform that helps businesses automate recurring billing, manage subscriptions, and analyze revenue. With Chargebee, businesses can capture, retain, and maximize revenue opportunities.
Features
- Payments
- Renewals
- Order history
- Multi-part deals
- Upsell & cross-sell
- Subscription management - opportunities
Founded in
- 2011
User type
- RevOps, founder/CEO, finance, developer
Industry type
- Computer software, information technology
Pricing
- Free trial
- Editions: starter, performer, enterprise
Headquarters
- Walnut, CA
Website
Subscription Management & Recurring Billing Software (chargebee.com)
#10 Invoiced
Invoiced is a cloud-based invoicing software that helps businesses save time and money on their accounts receivable (AR) and accounts payable (AP) processes. With Invoiced, you can easily onboard vendors, create and send invoices, track payments, and manage approvals. Invoiced also offers a variety of customization options, so you can tailor the software to your specific needs.
Features
- Digital billing: bill generation
- Recurring billing: bill generation
- Management: bill processing
- Batch invoicing: bill processing
Founded in
- 2013
Market segment
- Small business, mid-size business, and enterprise business
Industry type
- Computer software, information technology and services, and financial services
Pricing
Account Receivable
- $39/month per user for SMB
- Request a quote for others
Account Payable
- $29/month per user for SMB
- $49/month per user for mid-size
- Request a quote for others
Headquarters
- Austin, Texas
Website
Automated Accounts Receivable Software Solution | Invoiced
Deploy e-commerce SaaS tools to win!
In conclusion, the right e-commerce finance solutions can be a valuable asset to CFOs. By providing accurate and real-time insights and improving risk management, e-commerce SaaS tools can save time and money. They render superior custom experience and promise sales growth.
Want to know more about how Bluecopa simplifies your e-commerce tech stack? Give us a try!
Further reading
📖 19 E-commerce financial metrics with formulas and calculations
