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Financial Software

Definition - What does Financial Software mean?

Financial software is a type of software that is specifically designed to automate, assist and store financial information of a personal or business nature. It handles the storage, analysis, management and processing of a set of financial transactions, records and processes.

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Techopedia explains Financial Software

Financial software is built on the principles of financial information management. It may be executed as standalone software or as part of a financial information system (IS).

Most financial software incorporates all facets of personal or business finance and provides numerous features, including:

  • Basic financial data management
  • Financial transactions and management
  • Budgeting
  • Account management
  • Financial assets management
Financial software may be classified as business financial software or personal financial software. Moreover, financial software also may provide other related services, such as accounting and/or bookkeeping, and be integrated within other enterprise information systems.

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