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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.

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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