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Forecast 5

Cash flow forecasting software for nonprofits & corporations

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Forecast 5 Reviews

Reviews summary

Pros

Ease to use, understandable, good UI & UX, very stable, nice integration with another tools as gitlab, github and others.

Anonymous Reviewer

So easy to use even for the non-Accountant with lots of functionality. What impresses me most is both the support received and that they continue to develop it in collaboration with their customers.

Shane M.

It is one of the simplest budgeting and forecasting software products I have used and compare favourably with other budgeting software like TM1.

Sandra S.

Cons

Too many issues, lack of some basic features, and really poor support.

David T.

Always blame you for the problem. No manuals or online help - for the casual user like myself that uses it to plan departmental budgets remembering the training is hard work.

David T.

Not easy to get training, expensive for training and annual charges.

Brian G.

Overall rating

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60%
positive reviews
80%
would recommend this app

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15 reviews

recommended

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend9/10

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Great support

Reviewed 2 years ago

Made it easier for our business

Pros

So easy to use even for the non-Accountant with lots of functionality. What impresses me most is both the support received and that they continue to develop it in collaboration with their customers.

Cons

Still workons like cloud based which I understand they are currently working on

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend5/10

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Forecast 5 Review

Reviewed 2 years ago

While we have had some issues in setting up the program in order to have it mimic our accounting system, the ability to generate additional reports for the bank was great. Setting up a forecast for future years proved difficult and again required assistance and a lot of time, something we thought when we purchased would have been an easy task, for which we purchased it.

Pros

The ease of reporting, having multiple reports produced at the click of one button & having them export into a file which is easy to format or make additional comments if required. One touch reporting made it easy & clear to read the data for all users.

Cons

We are continually asking for assistance to find that new development needs to happen to allow us to do what we need to do, for example, we needed to have the ability to have transactions entered that didn't affect the bank statement as the system works via the bank statements, so the ability to create journal transactions had to be created. Things aren't always clear, and we had many phone calls and emails back and forth with support relating to the cash bank balance. Forecast 5 set up required a lot more time & effort than we were probably lead to believe.

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend10/10

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Review of Forecast 5 from a DevOps and Team Manager.

Reviewed a year ago

We been using this product for 1 - 2 years. And we was very conformable with it but we had a short budget for a tracking and Agile product, so we decided to move all our activities to Clockify. But I can say that Forecast is a very agile and DevOps oriented product.

Pros

Ease to use, understandable, good UI & UX, very stable, nice integration with another tools as gitlab, github and others.

Cons

The price is a little bit high, the tracking time function is not too good for the quality of the product. I don't personal like the way to use this product.

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend8/10

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Fix All Those Spreadsheet Budget Problems...

Reviewed 2 years ago
Pros

As a previous user of WinForecast I had not found a cost effective alternative that came anywhere near to its ease and flexibility until I found Forecast5 (F5). It is easy to use, quick to pick up and flexible in how you use it so it can quickly replace the old spreadsheets and guarantee your PL, BS & CF always reconcile with no errors and imbalances. Moving over from the old WinForecast forecast...

Cons

The interface is a little old fashioned and reporting can be limited plus it would be great if it was easier to share occasional access with my Finance and management team more cost effectively and without configuring shared file or network access. I understand that a cloud based version is coming which should take F5 to a new level and cover these issues.

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend7/10

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Forecast 5 Review

Reviewed 2 years ago

Consolidation of all company budgets and connecting excel data to feed into Forecast 5 for sensitivity scenarios.

Pros

Consolidation was the most important. Also the ability to drill down to low level account budgets and to condense into high level account budgets.

Cons

Very complex with adding some of the data and not being able to move line items between sections.

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend3/10

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Powerful Integrated Financial Modeling

Reviewed 2 years ago

The Forecast 5 software was being used by our corporate accounting and auditing firm. The software is also recognised by our banking institution, and it allows us to provide financial forecasts to both on a regular basis.

Pros

Customised formulas - powerful Fully Linked Profit & Loss - Balance Sheet - Cash Flow Linking to external spreadsheets to import live data and have it interact with the results

Cons

Network-ability Setup complications Operating documentation Slow recalculations Restricted reporting formats

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend8/10

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Review Forecast 5

Reviewed 2 years ago

We are using Forecast 5 to do budgets and forecasts for our clients, both for income and cash flow purposes. Hence, there is better control over spending and opportunities to monitor revenue, so no surprises at the end of the year - hence putting control in their hands.

Pros

It is one of the simplest budgeting and forecasting software products I have used and compare favourably with other budgeting software like TM1. It also offers a trail which enable clients to use the software before making a financial commitment. It also enables you to create visuals to share with clients, rather than just straight data.

Cons

In contrast to other tools, Forecast5 does not produce a produce that goes beyond forecasting.

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend8/10

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Avoid the errors!

Reviewed 2 years ago

Providing differing scenarios for various business cases.

Pros

Integration of financial reports (P&L, Balance Sheet, Cash Flow etc) without the issues inherent in spreadsheet-based models.

Cons

Relatively expensive for what in small companies may get limited and sometimes only annual use.

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend5/10

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Review

Reviewed 2 years ago

Cashflows. I probably don't use it enough. It would be good if it was online.

Pros

profit and loss and balance sheet fit together easily

Cons

Quite clunky and slow. Tends to crash often. Needs standard templates. Printing multiple reports at once in the correct format doesn't appear to be possible.

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend3/10

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Too many issues, lack of some basic features, and really poor support

Reviewed 2 years ago

Has a lot of p[otential but too many issues not enough support.

Pros

It is fairly easy to set up, and use and generating reports is good( ish)

Cons

Crap support! They always ask for moneyfirst to discuss a problem. Always blame you for the problem. No manuals or online help - for the casual user like myself that uses it to plan departmental budgets remembering the training is hard work. Some of the querks are frustrating like not being able to set a mid year slary increase. The other major issue with this is I can't roll up common expendature like travel, for each departments as a single view ! I have to buy more software for that

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend5/10

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Mountain jade

Reviewed 2 years ago

Ones you know how to use it it's very helpful with planing being able to look at different options and see the possible outcome. Very helpful with projecting cash flow.

Pros

It was big step up to using spreadsheets. Being able to consolidate separate budgets is a big advatage

Cons

Lately had few issues and had to come up with solution on my own. Not being able to just undo one month of actual data.

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend8/10

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Strong budgeting tool

Reviewed 2 years ago

Great to be able to update changes to Budgets / Forecasts quickly, giving you an instant view of outcomes.

Pros

'What if' scenario forecasting is great

Cons

I'd like to see functions that: - Allow you to group your forecasts into folders, so you can separate the different years, otherwise you're trolling through forecasts to open the one you're looking for. - Allow the formulas to be kept after exporting to excel; Currently the numbers get hard coded in to excel - Export directly into Xero. That would be hugely beneficial. - Be able to export individual details within salary groups

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend8/10

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forecast 5 review

Reviewed 2 years ago

I think the ability to tweak budgets and forecasts quickly, knowing that the add throughs work is a bonus.

Pros

The integration of Profit and Loss, Cash Flow and Balance Sheet reporting that is generated. Also the number of different ways the variable parameters could be puit in place for different income and expense categories.

Cons

So far as a new user getting the depreciation to work properly for Dimishing Value deprecaition on assets is proving a challenge and an opportunity

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend9/10

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GW Review

Reviewed 2 years ago

Future cashflow needs for bank financing

Pros

Very easy to use but you must follow a set procedure t get a correct model Assumptions such as days to pay invoices and payables are very important

Cons

Have had some issues entering starting balances. Cannot enter more than 2 decimal places. Had some issues with calculations with debtor finance...wasn't certain the model was calculating correctly. However relatively easy to test.

Overall Rating
  • Value for money
  • Ease of use
  • Features
  • Customer support
  • Likelihood to recommend2/10

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BJG

Reviewed 2 years ago

Not operating yet as desired but largely due to lack of time spent on the product

Pros

Download from Xero Able to forecast Balance Sheets

Cons

Not easy to get training, expensive for training and annual charges