Quick Overview
- 1#1: Workiva - Cloud-based platform that automates the preparation, review, and filing of complex financial statements and reports for compliance.
- 2#2: CCH Tagetik - Unified CPM solution providing financial consolidation, close, and statutory reporting with XBRL support.
- 3#3: Oracle EPM Cloud - Enterprise performance management suite with advanced financial reporting, narrative generation, and disclosure management.
- 4#4: OneStream - Unified CPM platform offering dynamic financial statement reporting, consolidation, and analytics.
- 5#5: SAP Analytics Cloud - Integrated analytics and planning tool with embedded financial reporting for statements and dashboards.
- 6#6: Workday Adaptive Planning - Cloud FP&A solution delivering collaborative financial reporting and statement generation.
- 7#7: Anaplan - Connected planning platform with real-time financial modeling and statement reporting capabilities.
- 8#8: Vena - Excel-native CPM software for streamlined financial statement preparation and reporting.
- 9#9: Planful - Continuous planning platform with automated financial reporting and consolidation features.
- 10#10: Prophix - CPM software providing budgeting, forecasting, and financial statement reporting in one system.
We ranked these tools by evaluating key factors such as feature depth (including automation, consolidation, and regulatory support), user experience (intuitive design and integration capabilities), and overall value, ensuring a balanced focus on performance and practicality.
Comparison Table
This comparison table examines top financial statement reporting software tools—such as Workiva, CCH Tagetik, Oracle EPM Cloud, OneStream, SAP Analytics Cloud, and more— to guide readers in finding solutions that fit their financial reporting needs. It highlights key features, usability, and strengths to simplify evaluating tools for streamlining processes.
| # | Tool | Category | Overall | Features | Ease of Use | Value |
|---|---|---|---|---|---|---|
| 1 | Workiva Cloud-based platform that automates the preparation, review, and filing of complex financial statements and reports for compliance. | enterprise | 9.4/10 | 9.7/10 | 8.5/10 | 8.9/10 |
| 2 | CCH Tagetik Unified CPM solution providing financial consolidation, close, and statutory reporting with XBRL support. | enterprise | 9.2/10 | 9.6/10 | 7.4/10 | 8.7/10 |
| 3 | Oracle EPM Cloud Enterprise performance management suite with advanced financial reporting, narrative generation, and disclosure management. | enterprise | 8.7/10 | 9.3/10 | 7.4/10 | 8.1/10 |
| 4 | OneStream Unified CPM platform offering dynamic financial statement reporting, consolidation, and analytics. | enterprise | 9.2/10 | 9.6/10 | 8.4/10 | 8.9/10 |
| 5 | SAP Analytics Cloud Integrated analytics and planning tool with embedded financial reporting for statements and dashboards. | enterprise | 8.5/10 | 9.2/10 | 7.8/10 | 8.0/10 |
| 6 | Workday Adaptive Planning Cloud FP&A solution delivering collaborative financial reporting and statement generation. | enterprise | 8.6/10 | 9.1/10 | 7.9/10 | 8.0/10 |
| 7 | Anaplan Connected planning platform with real-time financial modeling and statement reporting capabilities. | enterprise | 8.4/10 | 9.2/10 | 6.8/10 | 7.6/10 |
| 8 | Vena Excel-native CPM software for streamlined financial statement preparation and reporting. | enterprise | 8.4/10 | 8.7/10 | 8.1/10 | 7.8/10 |
| 9 | Planful Continuous planning platform with automated financial reporting and consolidation features. | enterprise | 8.4/10 | 9.0/10 | 8.2/10 | 7.9/10 |
| 10 | Prophix CPM software providing budgeting, forecasting, and financial statement reporting in one system. | enterprise | 8.2/10 | 8.5/10 | 8.4/10 | 7.9/10 |
Cloud-based platform that automates the preparation, review, and filing of complex financial statements and reports for compliance.
Unified CPM solution providing financial consolidation, close, and statutory reporting with XBRL support.
Enterprise performance management suite with advanced financial reporting, narrative generation, and disclosure management.
Unified CPM platform offering dynamic financial statement reporting, consolidation, and analytics.
Integrated analytics and planning tool with embedded financial reporting for statements and dashboards.
Cloud FP&A solution delivering collaborative financial reporting and statement generation.
Connected planning platform with real-time financial modeling and statement reporting capabilities.
Excel-native CPM software for streamlined financial statement preparation and reporting.
Continuous planning platform with automated financial reporting and consolidation features.
CPM software providing budgeting, forecasting, and financial statement reporting in one system.
Workiva
enterpriseCloud-based platform that automates the preparation, review, and filing of complex financial statements and reports for compliance.
Wdata linked reporting, which creates a single source of truth where data changes propagate instantly across all connected documents and reports.
Workiva is a cloud-based platform specializing in financial reporting, compliance, and management reporting for enterprises. It allows users to link data from multiple sources like ERPs, spreadsheets, and databases into a single, auditable document set, automating updates and ensuring consistency across reports such as 10-Ks, 10-Qs, and earnings releases. With robust collaboration tools, version control, and regulatory compliance features, it streamlines complex reporting workflows for public companies.
Pros
- Patented linked data technology ensures automatic updates and eliminates manual errors
- Enterprise-grade collaboration with granular access controls and real-time editing
- Comprehensive audit trails, version history, and compliance tools for SEC and global regulations
Cons
- Steep learning curve for users new to the platform
- High cost makes it less accessible for small to mid-sized firms
- Customization options can feel limited for highly bespoke reporting needs
Best For
Large public companies and enterprises managing complex, regulated financial statement reporting and compliance processes.
Pricing
Custom enterprise subscription pricing, typically starting at $50,000+ annually based on users, modules, and data volume.
CCH Tagetik
enterpriseUnified CPM solution providing financial consolidation, close, and statutory reporting with XBRL support.
Unified 'One Platform' architecture that combines financial consolidation, close, reporting, and analytics without data silos
CCH Tagetik is a robust Enterprise Performance Management (EPM) platform from Wolters Kluwer, specializing in financial close, consolidation, planning, and reporting for complex organizations. It automates financial statement preparation, supports multi-GAAP compliance (IFRS, US GAAP), XBRL tagging, and disclosure management, enabling accurate and timely statutory reporting. With deep integrations to ERPs like SAP and Oracle, and Microsoft Office, it streamlines workflows from data collection to board-ready reports.
Pros
- Comprehensive multi-GAAP financial consolidation and reporting automation
- Advanced XBRL and regulatory disclosure capabilities
- Seamless ERP and Microsoft Office integrations for efficiency
Cons
- Steep learning curve due to extensive customization options
- High implementation time and costs for large deployments
- Interface can feel dated compared to modern SaaS tools
Best For
Large multinational enterprises needing integrated financial close, consolidation, and compliant financial statement reporting across multiple standards.
Pricing
Quote-based enterprise licensing; annual subscriptions typically range from $100K+ depending on modules, users, and deployment (cloud or on-premise).
Oracle EPM Cloud
enterpriseEnterprise performance management suite with advanced financial reporting, narrative generation, and disclosure management.
Narrative Reporting Studio for point-and-click creation of pixel-perfect, XBRL-tagged financial statements directly from EPM data models
Oracle EPM Cloud is a robust enterprise performance management platform that excels in financial statement reporting through its Narrative Reporting module, enabling the creation of complex, compliant financial statements, management reports, and regulatory filings like SEC 10-Ks and 10-Qs. It integrates real-time data from multiple sources, supports XBRL tagging, and automates report generation with advanced formatting and analytics. The solution streamlines financial close processes while ensuring auditability and governance for large-scale deployments.
Pros
- Seamless integration with Oracle ERP and multi-source data for real-time reporting
- Advanced XBRL support and compliance tools for regulatory filings
- Scalable cloud architecture with strong audit trails and collaboration features
Cons
- Steep learning curve and complex setup requiring skilled administrators
- High pricing that may not suit smaller organizations
- Customization can demand significant implementation time and resources
Best For
Large enterprises with complex, multi-entity financial reporting needs and existing Oracle ecosystems seeking enterprise-grade compliance and automation.
Pricing
Subscription-based; starts at ~$1,000/user/month per module, scales with users/entities; custom enterprise quotes required.
OneStream
enterpriseUnified CPM platform offering dynamic financial statement reporting, consolidation, and analytics.
XF Extensibility Framework with Marketplace for thousands of pre-built apps and integrations without coding
OneStream is a unified Corporate Performance Management (CPM) platform that streamlines financial consolidation, close, reporting, planning, and analytics for enterprises. It automates financial statement preparation, ensures regulatory compliance with features like XBRL tagging, and delivers real-time insights through interactive dashboards and reports. Designed for complex, global organizations, it replaces disparate tools with a single, extensible solution via its XF Marketplace.
Pros
- Unified platform eliminates need for multiple reporting tools
- Advanced extensibility with XF Marketplace for custom apps
- Powerful automation for financial close and compliance reporting
Cons
- Steep learning curve and complex initial implementation
- High cost unsuitable for small to mid-sized businesses
- Customization requires technical expertise
Best For
Large enterprises with multinational operations needing integrated financial consolidation and reporting.
Pricing
Quote-based subscription; typically $200,000+ annually for enterprise deployments, scaling with users and modules.
SAP Analytics Cloud
enterpriseIntegrated analytics and planning tool with embedded financial reporting for statements and dashboards.
Live connections to SAP HANA for real-time financial data modeling and embedded planning within analytics stories
SAP Analytics Cloud (SAC) is a cloud-based analytics platform that integrates business intelligence, planning, predictive analytics, and financial reporting capabilities. It enables finance professionals to build compliant financial statements, perform consolidations, and create interactive dashboards with real-time data from SAP and third-party sources. SAC supports standards like XBRL and offers embedded planning for forecasting alongside reporting, making it suitable for enterprise financial close processes.
Pros
- Seamless integration with SAP S/4HANA and other ERP systems for real-time financial data
- Advanced AI-driven insights and collaborative planning embedded in reports
- Robust support for financial consolidations, XBRL, and multi-GAAP reporting
Cons
- Steep learning curve for non-SAP users and complex configurations
- High cost prohibitive for small to mid-sized businesses
- Occasional performance lags with extremely large datasets
Best For
Large enterprises with SAP infrastructure needing integrated financial reporting, planning, and analytics.
Pricing
Subscription-based enterprise pricing starting at ~$225/user/month for basic access, scaling to $500+/user/month for full planning and predictive features; custom quotes required.
Workday Adaptive Planning
enterpriseCloud FP&A solution delivering collaborative financial reporting and statement generation.
Native integration with Workday Financials and HCM for real-time, cross-functional financial statements blending operational and financial data
Workday Adaptive Planning is a cloud-based FP&A platform that combines budgeting, forecasting, and financial modeling with robust reporting tools for generating financial statements like P&L, balance sheets, and cash flow reports. It excels in real-time collaboration, scenario planning, and customizable dashboards, integrating seamlessly with Workday's ERP and HCM modules for unified data insights. Ideal for enterprise finance teams, it supports driver-based planning and what-if analysis to enhance reporting accuracy and agility.
Pros
- Seamless integration with Workday ecosystem for unified financial data
- Advanced scenario modeling and real-time reporting dashboards
- Excel-like interface for flexible financial statement creation
Cons
- High implementation costs and complexity for non-Workday users
- Steep learning curve for advanced modeling features
- Less optimized for complex statutory or GAAP-specific reporting compliance
Best For
Mid-to-large enterprises using Workday ERP who require integrated planning, forecasting, and financial statement reporting.
Pricing
Custom enterprise pricing, typically starting at $100,000+ annually based on users, modules, and deployment size.
Anaplan
enterpriseConnected planning platform with real-time financial modeling and statement reporting capabilities.
Hyperblocks for handling massive, multi-dimensional datasets with lightning-fast calculations and real-time updates
Anaplan is a cloud-based connected planning platform that excels in financial modeling, budgeting, forecasting, and reporting for enterprises. It enables users to build dynamic, multi-dimensional models for generating accurate financial statements with real-time data integration from various sources. The platform supports collaborative planning and customizable dashboards, making it powerful for complex financial reporting needs beyond basic spreadsheets.
Pros
- Exceptional flexibility in multi-dimensional modeling for complex financial statements
- Real-time collaboration and scenario planning capabilities
- Seamless integrations with ERP systems like SAP and Oracle
Cons
- Steep learning curve for model building and customization
- High implementation costs and time requirements
- Overly complex for simple financial reporting tasks
Best For
Large enterprises requiring integrated financial planning, advanced modeling, and scalable reporting across multiple departments.
Pricing
Custom enterprise pricing, typically starting at $1,000+ per user/month or higher based on modules, users, and deployment scale; quote-based.
Vena
enterpriseExcel-native CPM software for streamlined financial statement preparation and reporting.
Native Excel interface with drag-and-drop modeling and real-time ERP data integration for spreadsheet-based financial statements
Vena Solutions is an Excel-native FP&A platform designed for financial planning, budgeting, forecasting, and reporting, with strong capabilities in generating compliant financial statements. It automates reporting workflows, supports consolidations, and integrates with ERP systems for accurate data pulls into familiar spreadsheets. Finance teams use it to streamline month-end close, produce board-ready reports, and ensure audit-ready trails while maintaining Excel's flexibility.
Pros
- Seamless native Excel integration for powerful, familiar reporting
- Robust automation and workflow tools for financial close and consolidations
- Strong compliance features with full audit trails and version control
Cons
- Enterprise-level pricing can be steep for smaller teams
- Learning curve for advanced templates and customizations
- Heavy reliance on Excel may limit appeal for non-spreadsheet users
Best For
Mid-market to enterprise finance teams proficient in Excel seeking integrated FP&A reporting and automation.
Pricing
Quote-based enterprise pricing; typically starts at $100K+ annually depending on users, modules, and implementation.
Planful
enterpriseContinuous planning platform with automated financial reporting and consolidation features.
Continuous Close module that automates reconciliations and intercompany eliminations for faster, error-free financial statements
Planful is a cloud-based Financial Performance Platform designed for FP&A teams, offering robust tools for financial statement reporting, consolidation, and close management. It automates the generation of compliant financial statements like balance sheets, income statements, and cash flows, with multi-entity consolidation and real-time dashboards. The platform integrates seamlessly with ERPs like NetSuite and SAP, enabling accurate reporting and analytics across global operations.
Pros
- Advanced multi-entity consolidation with automated currency translation
- Real-time customizable dashboards and drill-down reporting
- Strong ERP integrations for streamlined data flow
Cons
- Enterprise-level pricing may overwhelm smaller businesses
- Initial setup and implementation can take several weeks
- Advanced customization requires consulting support
Best For
Mid-to-large enterprises with complex, multi-entity financial operations seeking integrated reporting and FP&A capabilities.
Pricing
Custom enterprise subscription pricing starting around $50,000 annually, scaled by users, modules, and deployment size.
Prophix
enterpriseCPM software providing budgeting, forecasting, and financial statement reporting in one system.
Workflow automation engine that orchestrates the entire financial close and reporting cycle with task assignments and approvals.
Prophix is a cloud-based Corporate Performance Management (CPM) platform that specializes in financial consolidation, reporting, budgeting, and forecasting. It automates the financial close process, generates compliant financial statements, and supports multi-entity consolidations with real-time data integration from ERPs like NetSuite and QuickBooks. The software emphasizes workflow automation and Excel-native interfaces to streamline reporting for mid-market organizations.
Pros
- Robust automation for financial close and statement generation
- Seamless Excel integration for familiar reporting workflows
- Strong multi-entity consolidation and real-time dashboards
Cons
- Pricing can be steep for smaller teams
- Advanced customization requires consulting support
- Steeper initial setup for complex ERP integrations
Best For
Mid-sized enterprises with multi-entity operations seeking integrated CPM and automated financial reporting.
Pricing
Quote-based pricing starting at around $50,000 annually, depending on modules, users, and deployment.
Conclusion
Across the reviewed tools, Workiva leads as the top choice, excelling in automating complex financial statement preparation and compliance. CCH Tagetik and Oracle EPM Cloud follow closely, offering robust consolidation, planning, and reporting capabilities—each a strong alternative tailored to different operational needs. Together, these solutions demonstrate the cutting-edge of efficient and accurate financial reporting.
Begin your journey with Workiva to experience its seamless automation and compliance support, or explore CCH Tagetik and Oracle EPM Cloud to find the tool that best aligns with your specific financial management goals.
Tools Reviewed
All tools were independently evaluated for this comparison
