The Best Financial Software Planning Product Essay Example for Free

The Best Financial Software Planning Product Essay After analyzing various software products and comparing the advantages and disadvantages of them, it is found that the best software for financial planning is mentioned in the Microsoft Money Home website and it is the Microsoft Money Plus. The software helps in managing and planning long-term and short-term financial targets, and helps in the optimization of resources. It has got extensive features that can help a person, individuals or companies manage their portfolio. Microsoft Money Plus Premium calls this efficiency a â€Å"one stop financial management and planning solution. †¦for today and tomorrow† (1) A recent Comparison of Accounting Software done by Wikipedia’s website shows that the software is far much better among the other existing softwares when compared with respective to their licensing options, market focus, features, benefits, its type and the structure. It is the best because there is another article that supports this fact, another review in Tame Your Money Woes page of the PC Magazine, which says that â€Å"Microsoft Money Premium 2007 is an elegant, easily navigable personal-finance management powerhouse, offering more than most consumers need.† (1), another article on Microsoft Money in Wikipedia goes on to say that there are many versions available for U.S., UK, France, Japan, Canada, Germany, Italy and an International English edition (1). This just shows the international appeal the product has and how successful it is all these countries. The pricing is not that high and there are different packages that are catering to different sections of the society, depending on it the customer can adopt for a Microsoft Money Essentials, Microsoft Money Plus Deluxe, Microsoft Money Plus Premium or Microsoft Money Plus Home Business (Microsoft Money Plus Premium 1). There are special offers that are available to customers. There is also opportunity to discuss with the support as to which of the products will be suitable. A trial version also will be given, so that the customer can be sure that the product suites his/her specific requirements. But not many people agree with the above features and advantages they have some objections against it. Yakal page mentions some of the disadvantage, â€Å"Lacks some features Quicken pioneered, such as the ability to attach documents to transactions. Requires Windows Live ID for maximum security and online aggregation.† (1). It is important here to realize that the above mentioned features can still be included in the next upgrade that will follow. For someone who is starting out, this is an ideal solution. Once anyone can master this package then it will be easier to adopt and adapt to the upgrades and enhancements Microsoft will come up in the future. Another review by Wenzel supports this by saying with regard to the requirement of Windows Live.   â€Å"However, were not crazy about needing a Windows Live (formerly Passport) ID to use Microsoft Money 2007 to connect to our financial accounts online, although data transmissions are encrypted, of course.† (1), which means that there is really not much of a requirement of Windows Live and that the package can be successfully used even without it. Wenzel goes on to say that, We like Money 2007s well-laid-out and customizable interface, which by default displays a list of accounts and a spending pie chart on the Home page. Intuitive shortcuts include the ability to double-click a pie slice to bring up a register of expenses for editing. The browser-like layout includes back and forward navigation arrows and various straightforward drop-down menus. You can quickly access specific resources for banking, scheduling bills, creating reports, investing, planning, and taxes. (1)   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Some other people have an issue with the software that it does not work on other Operating Systems and it works only on Windows. But you need to remember that Microsoft has been always favoring and supporting its own Operating System, for someone who is used the interface of windows they will understand the enormous amount of ease and advantages behind it when compared to other operating systems. Microsoft has a very efficient support system that will help guide the user to effectively use and exploit all the features. Support is of different types, by email, by chat, phone support, training such as audio and voice training and even personal one – one teaching about the product, all this will help the user to gain confidence in using the product. The other reason why it is one of the best is because it is very simple to use. Not only that, it also is fast to setup, has a very good user interface, which is easily understood. It does not need too much of time to learn package. It covers practically all the areas of finance, accounting, bills payable, receivable, and many more other features. It has a good cash flow management model and above all it is highly customizable. Something that is required for different financial situations, individuals and companies. Besides this, it is also very convenient to carry around in a Pocket PC, a mobile or a smart phone. There are so many versions available that any individual is bound to find the one best suited for him. The package can be readily be used anywhere and everywhere. For anyone who appreciates Microsoft products it is one of the best in financial planning and management when compared to the others. Works Cited â€Å"Microsoft Money Home.† Microsoft. In Microsoft Money Plus.† November 23, 2007, http://www.microsoft.com/money/default.mspx â€Å"Comparison of Accounting Software†. Wikipedia the free Encycolpedia. November 23, 2007, http://en.wikipedia.org/wiki/Comparison_of_accounting_software â€Å"Microsoft Money Plus Premium.† Microsoft. In Microsoft Money Plus Premium.† November 23, 2007, http://www.microsoft.com/money/ProductDetails.aspx?pid=004active_tab=Features Yakal.â€Å"Tame Your Money Woes†. PC Magazine. Microsoft Money Premium 2007 Review Date: July,31, 2006. http://www.pcmag.com/article2/0,1759,1996582,00.asp â€Å"Microsoft Money† Wikipedia the free Encycolpedia. November 23, 2007,   http://en.wikipedia.org/wiki/Microsoft_Money Wenzel. â€Å"Microsoft Money 2007 Review† Cnet Reviews. Microsoft Money 2007 Premium. http://reviews.cnet.com/accounting-and-finance/microsoft-money-2007-premium/4505-6405_7-31982101.html?tag=sub