6 Best Project Management Software with Budgeting

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Budgeting is critical to any organization’s overall operations.

Understanding where your business is performing financially at any time helps you to analyze how you are performing, where there may be issues, and how you can strategize your future business operations for higher returns on your investments.

Having a real-time look at your budget and its status ensures you are never overspending or underspending, the amount you have allocated for spending.

Staying current on your organization’s finances on an ongoing basis will make it easier to create year-end reports and allow you to easily reference when and where your money is spent.

Regardless of your industry, managing your budget is important.

When it comes to project management, budgeting is an important piece of the overall puzzle.

Understanding how your budget merges with your various projects and have a clear look at your various tasks along with your budget will help you more successfully manage your business operations.

Today, there are plenty of digital project management software options available with budgeting capabilities to help you do just that.

Many companies today leverage project management software to help them manage their budgets: 66% of companies that use project management software complete projects within their original established budget, compared to 47% of businesses that do not use project management software.

You don’t need to be an accountant or financial wizard to leverage project management tools to manage your overall business budget.

Why use Project Management Software with Budgeting?

Project management software with budgeting can be highly useful to firms of all sizes, especially those that consistently undertake projects that need substantial resources, time, and money.

Project management software with budgeting may scale up to suit the demands of businesses as they develop and take on more complex tasks.

It is capable of handling greater budgets, larger teams, and more complex projects.

Project managers can recognize possible problems early on and take precautions to reduce risks if they have real-time access to budget information.

This can help to avoid cost overruns and delays, allowing projects to be finished on schedule and on budget.

What makes good Project Management Software with Budgeting?

Good project management software with budgeting should have some important features, which include budget tracking, risk management, project planning, resource allocation, collaboration, reporting, integration, and a user-friendly interface.

Project managers should be able to plan projects, assign resources effectively, communicate effectively, identify and manage risks, provide thorough reports, integrate with other tools, and monitor expenditure in real-time using the software.

These features enable firms to effectively manage their projects and budgets, resulting in time and resource savings while assuring project success.

How to choose the right Project Management Software with Budgeting

Considerations for selecting the right project management software with budgeting include your organization’s requirements, the user interface, budget tracking, resource allocation, collaboration, project planning, reporting, integration, security, and customer support.

The software should be easy to use, allow for real-time tracking and monitoring of expenses, efficient resource allocation, productive teamwork, project planning, generation of comprehensive reports, integration with other tools, security, and reliable customer support.

By considering these features, you can choose the software that best meets the demands of your firm while also assisting you in managing your projects and budgets.

Best Project Management Software with Budgeting

Here are some of the best project management software options available with budgeting to help you manage your operations successfully:

1. Bonsai – Best for adding budgets to proposals

Approaching new clients is a daunting task, but if you are running a business, you have to undertake this task. The key to approaching any new client is to go with a solid proposal that they can’t refuse. Everyone wants to save money, which is why it is important to offer correct budgeting in your proposals.

Thankfully, Bonsai is here to help you provide the right budgeting figures to your clients. The first thing you can do is select a template of the proposal you want to provide. There are endless templates on the platform you can choose from for your requirements.

Once you have the right template, you can break down the components of your proposal into different categories. One of these categories will be the budget that needs to include accurate figures. Your clients will want to know how you have reached a certain figure, which is why it is important to break everything down.

Bonsai will provide you with time tracking, expenses a project incurs, billable hours, and much more. Once you are familiar with these figures, you can add them to the proposal, and back it up with your work in the past. In the long run, such solid proposals with accurate budgets will help you land new clients.

So, if you are looking to achieve these aims, then make sure you select Bonsai for your budgeting needs. These features will help you create a proposal like no other.

2. Hubstaff

Hubstaff is a great project management software that allows you to create budgets directly on the platform.

You can assemble your budgets by hourly, bill, or pay rates to best reflect what your organization is most used to.

To keep you updated on where you are at as it relates to your spending, you can set up limits for your budget and arrange notifications to let you know when you’re approaching your budget limit.

Hubstaff offers many different application integrations to let you bring in your various budgeting tools and documents for easy merging and managing going forward.

In addition to their budget management capabilities, Hubstaff offers many different tools to help you manage your overall project focuses.

Through Hubstaff, you can establish time tracking for your teams and complete your timesheets completely via the software.

For remote jobs, you can enable Hubstaff’s GPS tracking tool with mobile-based tracking that helps you keep track of work from anywhere to streamline your scheduling and payments.

Hubstaff also helps you manage your overall work productivity and that of your teams.

Using the software, you can track your time spent working on various projects.

For your teams, you can take a look at their day-to-day operations to see their productivity levels and how they are spending their day.

Hubstaff is completely transparent with this reporting and notifies team members when their progress is being monitored and allows access to their individual reports to understand how productive they are throughout the workday.

Hubstaff has four different packages, available: Free, Basic, Premium, and Enterprise.

The Free plan offers the most basic level of features, including time-tracking capabilities, activity levels, and a few other tools.

For access to more advanced tools within the platform, you will need to take advantage of one of the paid plans.

To learn more about Hubstaff and what is included in the software, visit their website here.

3. Harvest

Harvest is another great project management tool that enables users to track and manage budgets.

You can set up your budgets directly within your project layout, and set up an hourly budget from three options: project hours, hours per task, or hours per person.

You can also set up fee budgets within your projects to manage your money based on either total project fees or the fees per task.

Each of these varied budget layout options allows you to budget your projects in a way that makes the most sense for your organization.

Harvest is all-around dedicated to helping you and your team manage your time and energy spent on various projects.

You can use Harvest across your teams to help you track and manage your time spent on various tasks for accurate invoicing and productivity measures.

After consistent time tracking, Harvest also provides you with an analysis of your individual project performance, citing the number of hours spent working, the amount of money spent in your budget, and more to give you a holistic view of your progress.

The software also makes it easy to manage your invoices and payments completely through their platform.

Using Harvest, you can generate invoices directly from your team members’ time tracked, making it easy to stay on top of this process.

You can also conduct your online payments through the software as well using their Paypal and Stripe integrations for easy invoice payouts.

Harvest has two simple plans available for their services: Free and Pro.

The Free plan only allows for one user and two projects, while the Pro plan allows for both unlimited users and projects.

Each plan option gives you access to the various features Harvest has to offer for your budgeting and project management needs.

To learn more about Harvest, visit their website here.

4. EasyProjects

EasyProjects offers great budgeting management capabilities to help you manage your overall project budget and finances.

After setting up your budget directly within your different projects, you can use EasyProject’s revenue and profit tracking to evaluate your progress.

If you are looking for advanced financial reporting and tracking, EasyProjects also offers cost variance, estimated budget profitability, and more for elite financial analysis of your budget.

When it comes to planning your overall projects and details, EasyProjects provides you with an intuitive and user-friendly interface to easily manage all your outstanding priorities.

The software offers a Gantt chart view that is interactive in nature, making it simple to drag and drop different tasks when due dates change or more details are added.

This ensures you and the rest of your team are consistently up-to-date on the projects at hand and have the most current deadline available all in one place.

EasyProject also provides a Resource Management tool to help you divide your work amongst your team effectively.

This tool analyzes the work each of your team members is focusing on and identifies which individuals have the capacity to take on more, and which may be in danger of being overloaded.

EasyProject ensures you are constantly using your team member’s skills to the best of their unique abilities and no one person is being overworked.

EasyProject has four different plans available for users.

The smallest plan, Team, costs $24 a month per user and includes project management tools like time tracking, budgeting, Gantt views, and more.

If you are looking for more advanced tools or tools associated with billing, time logs, and more, you will need to take on one of the larger plans.

To learn more about EasyProject and everything they have to offer, visit their website here.

5. BigTime

BigTime project management software takes pride in its ability to simplify even the most complex projects.

Once you’ve established projects in BigTime software, you can add a budget for an all-in-one organization.

Here, you can include hour, fee, and expense budgets depending on what you are specifically looking for.

Once you’ve created your project budget, you can add your data for invoicing and budget management going forward.

Beyond this, BigTime does a great job of keeping you on track with your various projects.

You can review all your ongoing tasks and projects in their summary dashboard that outlines areas you have not started, what is in progress, what’s been completed, and more.

To organize your various tasks, you can sort by type and set custom statuses to track your overall workflow.

BigTime also offers intuitive features to help you take your project management to the next level.

The platform includes time and expense tracking, billing and invoicing capabilities, payment processing, resource management, and more for an end-to-end experience.

You can be confident in BigTime’s all-around capabilities, and with their elite integrations, you will not need to switch between different applications to accomplish your various organizational tasks and projects.

BigTime has three different packages available: Express, Pro, and Premier.

The Express plan is $10 a month per user, with a minimum of five users required.

It’s very limited in the tools included, though, as it only provides you with time tracking and QuickBooks integration.

To take advantage of the project management and budgeting tools, you will need to subscribe to either the Pro or Premier plan.

To learn more about BigTime project management software, visit their website here.

6. ProjectManager

Lastly, ProjectManager is another great project management tool that has great budgeting capacity for your team’s use.

ProjectManager helps you feel confident in your overall budget management and makes it easy to keep track of your project budgeting.

You’ll be able to keep track of your various expenses using the software and make it easy to add in your various expenses and continuously monitor and adjust them over time.

ProjectManager’s real-time dashboard helps you track actual versus planned costs to see where you may be going off budget and identify how to fix it.

ProjectManager does a great job of walking you through the use of their tools and shows you exactly how to leverage their capabilities for your budget management.

Beyond this, ProjectManager offers plenty of task management tools to organize your projects and stay on track.

You can view your tasks in a way that makes the most sense for you, and set up automated emails and notifications to keep everyone on your team up to date on what tasks to prioritize as they work to complete projects.

Within each of your tasks, you can enter plenty of details to identify different characteristics of each task to provide more context for your team members.

ProjectManager also does a great job of allowing you to communicate easily with your team on your projects.

You can assign tasks within the platform from anywhere within it, and leave comments for your team to see.

You can even tag team members directly into tasks for quick and easy referencing.

Depending on how you want to stay connected, you can also arrange automated notifications and emails to share updates on project statuses and set reminders for upcoming due dates.

To get started on ProjectManager, you have the option to choose from three different packages: Personal, Team, and Business.

The Personal plan is $15 a month per user and requires a minimum of five users to get started.

This plan is limited in its tools included, though, and only comes with task lists, calendars, Gantt charts, and Kanban boards.

For access to the more advanced project management tools and budgeting capabilities, you will have to get either the Team or Business Plan.

To learn more about ProjectManager, visit their website here.

The Bottom Line

Managing your organization’s budget is critical to your overall project management and the success of your business.

Regardless of the size or type of your organization, budgeting, and financial management is important.

Without it, your business simply cannot thrive.

Each of these project management tools equips you with elite budget management capabilities to give you confidence in your overall budgeting processes.

No budgeting expertise is needed, you will be thankful you took advantage of these tools to take charge of your financial planning and management.