Software:FinanceWorks

FinanceWorks is a financial management software tool that was developed by the financial technology company Digital Insight. The software was designed to help consumers and small businesses manage their finances by providing a comprehensive platform that enables users to track their spending, create budgets, monitor investments, and manage bills and other expenses.

Features

FinanceWorks provides users with a variety of features to help them manage their finances. These features include:

1. Account Aggregation: FinanceWorks allows users to aggregate all their financial accounts in one place. This includes bank accounts, credit cards, loans, and investment accounts.
2. Budgeting: The software provides users with a tool for creating and tracking budgets. Users can create monthly or yearly budgets for different categories, such as food, rent, utilities, and entertainment.
3. Spending Tracker: The software also enables users to track their spending in real-time. Users can view their spending by category and can set alerts to notify them when they exceed their budget.
4. Investment Monitoring: FinanceWorks allows users to monitor their investments in real-time. Users can view the performance of their investments, create custom portfolios, and set alerts for changes in market conditions.
5. Bill Payment: The software also provides users with a tool for managing their bills. Users can schedule payments, view payment history, and set up automatic payments for recurring bills.

History

Digital Insight developed FinanceWorks in response to the growing demand for financial management software. The software was first introduced in 2008 and was initially offered as a free service to users of online banking platforms. Later, Digital Insight began offering the software as a standalone product.

In 2000, Digital Insight was acquired by Intuit, a financial software company based in California . As part of the acquisition, Intuit integrated FinanceWorks into its suite of financial management tools, which also included TurboTax and QuickBooks.

In 2016, Intuit announced that it would be discontinuing FinanceWorks and would be focusing on its other financial management tools. The company encouraged users to switch to its other products, such as Mint and Quicken.

Reception

FinanceWorks received positive reviews from users and critics alike. The software was praised for its ease of use, comprehensive feature set, and ability to aggregate financial accounts in one place.

Critics noted that the software lacked some of the more advanced features of other financial management tools, such as investment analysis and tax planning. However, for many users, the software provided a convenient and effective way to manage their finances.

Conclusion

FinanceWorks was a financial management software tool developed by Digital Insight. The software provided users with a comprehensive platform for managing their finances, including account aggregation, budgeting, spending tracking, investment monitoring, and bill payment. Although the software was discontinued in 2016, it was well received by users and critics during its lifespan.

Awards

• Javelin Strategy & Research: "Best in class" for online financial management "[FinanceWorks] sets the standard for rivals to match.… One would expect an Intuit company to excel at providing user-friendly, practical personal finance management tools – and Digital Insight does not disappoint."
• BankInnovation.net: "Best Technology" winner in BankInnovation Awards of 2009.

Missing features

• FinanceWorks does not offer the ability to import transactions, create subcategories, pay bills, transfer money, or reconcile accounts.

References

• "NCR Acquires Digital Insight". http://www.digitalinsight.com/pdfs/NCRcompletesacquisitionofDigitalInsight.pdf. 
• Fest, Glen (October 2008). "Intuit Launches FinanceWorks out of Pilot Phase". Bank Technology News. http://www.americanbanker.com/btn_issues/21_10/-364153-1.html. Retrieved 4 January 2010. 
• "Small Business FinanceWorks – Optimize your budget". CNN Money. 29 October 2009. https://money.cnn.com/galleries/2008/smallbusiness/0810/gallery.Finovate.smb/7.html. Retrieved 4 January 2010. 
• Koegler, Scott (11 May 2009). "Mid-Market Hero: SAFE Credit Union Introduces Online Features To Compete With Big Banks Faced with growing demand from customers for online banking services, SAFE Credit Union turned to a familiar provider of consumer accounting applications to introduce big bank functionality without spending big bank bucks". InformationWeek. http://www.informationweek.com/news/services/hosted_apps/showArticle.jhtml?articleID=217400079. Retrieved 4 January 2010. 
• "Intuit FinanceWorks FAQ (archived)". https://financeworks.intuit.com/quickenweb/locale/en_US/help/faq-di-toc.html. 
• "FinanceWorks FAQ What Doesn't Do (archived)". https://financeworks.intuit.com/quickenweb/locale/en_US/help/faq-is-this-online-quicken.html. 
• "Intuit Expands Market for FinanceWorks". 2 November 2009. https://www.americanbanker.com/news/intuit-expands-market-for-financeworks. Retrieved 19 January 2023. 

External links

• Company home page
• FinanceWorks and Small Business FinanceWorks product site
• Brochure
• Example implementation service summary at goldenpacificbank.com