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by Justin Guinn | Updated Aug. 5, 2022 – First published on May 18, 2022
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You’ve heard it before, and here it is again: Digital transformation is a must.
There are a ton of layers to that statement, and one layer that’s become relatively low-hanging fruit is implementing a paperless office. It’s been apparent for some time that paper-based document management and business dealings are expensive and inefficient.
Put simply, you must commit to going paperless in the office. It’s a move that positively impacts your budget, business efficiency, and brand positioning as well as the world at large.
It’s time to adopt digital document management best practices by implementing communication strategies and productivity apps that eliminate the need for paper.
Regardless of your business, it’s well past time for you to adopt a digital filing system and go paperless. But there are a few critical considerations to keep in mind before implementing your new paperless filing system.
You’ll need to address these key hurdles before working through the best practices highlighted below.

There’s just no need to continue operating so inefficiently. (via CloudPoint Technology) Image source: Author
Going paperless is the right move for all businesses, but you still need to work through how your new paperless operation will uniquely impact your business metrics.
Moving to a paperless, digitally driven organization should definitely save money in your business budget, even after paying for your document management system.
It should also increase efficiency across the board. Two efficiency boosters include reducing human error in lost papers and incorrect filings and decreasing the time between submitting bids to clients and closing deals with e-signing documents.
There are innate technology core competencies that employees and clients will need in order to successfully transition to a paperless operation. The day-to-day experience with your new document management systems will be similar to navigating your business website.
So as long as people are comfortable executing basic online browsing and using websites, they should be fine with the transition.
Still, it’s a good idea to mitigate any issues by building proper instruction documentation to walk clients through the process and provide struggling employees with a guide.
Keep your instructions as simple as possible by incorporating some screenshots and limiting each instructional section to a single task.
For example, you should be able to share instructions on how to upload a file to a particular folder without having to share all the instructions for e-signing and other tasks.
Once you’ve made the switch to digital, you’re going to have a bunch of dormant equipment laying around your office. While this isn’t hugely impactful for your business, you do need to determine what will happen with your retired printers, copiers, fax machines, etc.
You may be able to recoup some money by selling them. If that’s too much hassle, you can probably donante them and have someone come take them off your hands. Just get a plan in place so that you’re not suddenly wondering what to do with a bunch of bulky office equipment.
You’re ready to go paperless in your business. It’s rightfully exciting, as it provides tons of positive impact to your operation, your personal branding, and of course the environment.

Your transition to paperless will be easier than you think. (via Ezop) Image source: Author
Here are five best practices to ensure you have a smooth transition to becoming a paperless business and installing a sustainable operation to take on the future.
A document management system is the foundation on which you’ll operate your paperless business. It is your new digital filing cabinet and file retrieval system, as well as a solution for sharing and collaborating on files.
You’ll use your documentation retention solution as an essential tool to create, secure, and share critical documents, so be sure you take the time to get the system that’s best for your business needs.
And make sure you have the technical ability to operate and manage the system. If you take care of your own website management, you should be fine with managing your new document management system.
Here are a few tips for adopting and implementing a document management system.
A major benefit of a document management system is the ease with which you can find documents. But this search capability doesn’t just happen — it requires tons of organizational effort and detailed tagging inputs.
So before you can bring on your new document management system, you’ll need to account for all the digital and paper-based documents you already have. This means scanning, uploading, organizing, categorizing, tagging, formatting, and much, much more.
This will most definitely be the largest hurdle in transitioning to a paperless office, so start ASAP and work to get ahead of this project so that it costs you less time in the future.
Here are a few tips for organizing your existing documents to ensure a detailed and easily searchable document database.
You must lead by example to make a successful transition to going paperless. Regardless of the new document management software and organization apps you implement, your employees need to see that you’re committed to the paperless cause.
This type of top-down leadership is essential for managing any kind of change in your business.
Here are a few tips to help you lead by example as you go paperless with your business operation.
Employee engagement and buy-in is critical for making a seamless transition to your new paperless office and operating style. You need to focus on ways to engage employees and get them motivated and committed to making the change to paperless.
Leading by example through top-down change management is essential, but you should also consider additional tactics to rally your employees toward the cause, such as gamification and training exercises.
Here are a few tips to ensure your employees become equally as committed to going paperless as you.
Take advantage of employees who are excited about and committed to going paperless by assigning them as paperless champions.
These champions will become quasi-experts on the transition and new systems and provide a helpful and willing resource for any questions that employees have along the journey.
Here are two tips for establishing and choosing champions to support the transition to paperless and adoption of new document software.
If you’re serious about going paperless, these considerations and best practices will help you build the path to get there. The technology to do so has been around for a while, and it continues to get more affordable, easier to use, and feature-rich every year.
All the tools are there to take your entire business into the digital realm, but it’s up to you to lead your people through the archaic paper wasteland and show them the ease and efficiency that awaits them in their new paperless business.
Cash back, travel rewards, 0% intro APR financing: all of these can be great credit card perks for business owners. But how do you find the right business credit card for you? There are tons of offers on the market today, and sifting through them to find the right one can be a big hassle. So we've done the hard work for you.
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Justin Guinn is an SMB technology expert writing for The Ascent and The Motley Fool.
We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.
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Heidi Kenyon – Content Designer, Modern Work Customer Co-InnovationJan 27, 2022
When it comes to productivity, few sectors know better than the legal industry how time-consuming research can be. A daunting amount of information is needed for success and getting the details right is critical. Indeed, a top pain point for lawyers is coping with increased volume and complexity of information, according to a 2021 Future Ready Lawyer study from Wolters Kluwer, a thought leader in the legal space and a global provider of professional information, software solutions and services.
And it’s not just lawyers who face this challenge. Knowledge workers could save between four and six hours on average per week if they didn’t need to search for or recreate information, according to a 2021 Ziff Davis study on Knowledge Sharing sponsored by Microsoft. That represents 11%-14% of their work time, or over a month of lost productivity per employee per year.
That’s why Wolters Kluwer Legal & Regulatory and Microsoft’s Modern Work Customer Co-Innovation team (MWCCI) partnered in 2021 to explore potential solutions to legal productivity challenges.
“Wolters Kluwer Legal & Regulatory was the perfect partner because of its deep experience in the legal productivity space, and its desire and ability to do something truly innovative,” says Harald Becker, director of Customer Engagements, MWCCI.
MWCCI’s co-innovation model involves forming a virtual multidisciplinary product team spanning companies. In this case, it brought together engineers, designers, researchers and others from six countries and three continents. The team works together to thoroughly understand a given problem, define a potential solution, build a working prototype and test it with users—all in an aggressive timeline of about six months. The process is optimized to move quickly and generate mutual learning.
The Wolters Kluwer–MWCCI team began with a deep dive into each other’s research, products and platform capabilities. It identified the target user as an attorney in a law firm or corporate legal department and explored multiple possibilities for how to improve the user’s workflow.
“We thought that if we could leverage Wolters Kluwer’s deep domain knowledge to determine the legal context of the document a lawyer is working on, we could proactively surface useful information that would accelerate the lawyer’s workflow and help them produce higher-quality work,” says David Jones, MWCCI’s principal program manager for this engagement. “This could include analytics for legal arguments, risk analysis for contracts, subject matter experts within the firm—or even just the right legal research or template.”
In just a few weeks, the team articulated the concept it wanted to build: a tool that could bring legal professionals relevant, high-value content from a variety of data sources within their existing workflows, which, for many lawyers, means within Microsoft Word.
“We started to think of the vision for our concept as a kind of legal coach,” says Peter Backx, vice president of Product Management, Wolters Kluwer Legal & Regulatory. “We believed that it could become something that helps lawyers improve the outcome of their work.”
It was clear early on that the team would need to leverage machine learning, specifically document understanding AI—the ability for machines to read and understand the content of documents. This raised questions about users’ confidence in the information that the algorithms were bringing them.
“We knew users might wonder, ‘Why is the system showing me this?’ ’Is this the right information?’ ‘Has anything been overlooked?’ ‘What determines what’s important to display and what isn’t?’” Jones explains. The team agreed that intentionally building a foundation of trust for the system would be critical. Designers explored different ways of explaining within the interface why a given resource was suggested, which they believed would support users’ trust in the system.
Within a few months, the team began to build. It split into two parallel tracks, one focused on user experience and visual design, the other on technical architecture. The UX design track generated multiple potential user-interface designs. “It was fun to debate the merits of each and reach a consensus on the approach that would best address the customer’s needs,” says Magdalena Sowula, lead product manager, Wolters Kluwer Legal & Regulatory.
The technical track was more of a challenge. The team tried multiple ways of extracting legal context from documents but failed, at first, to get useful results. “For a period of time it looked like our project might fail,” Jones says candidly.
MWCCI’s co-innovation model involves forming a virtual multidisciplinary product team spanning companies. In this case, it brought together engineers, designers, researchers and others from six countries and three continents.
The breakthrough came when engineers fed the documents into annotation models that Wolters Kluwer had built to mark-up official court documents. Although the models weren’t originally designed to be used in this way and the information they returned wasn’t perfect, with more work the team successfully created something to build on.
“As we worked through these challenges together, we did more than find creative solutions to our technical problems,” says Jones. “We developed a shared vocabulary and understanding of the problem space. We learned about the unique skills and diverse backgrounds that each of us brought to the table. And we learned to trust one another and how to work together as a single team.”
By December 2021 a prototype was up and running in Word. Currently, it can analyze German litigation documents and retrieve related legal commentaries and court decisions from Wolters Kluwer’s services, as well as related Word documents from a given user’s internal SharePoint site. The team is running a small user study with legal professionals to get feedback before expanding resource retrieval to other data sources.
“We’re excited to see how our customers will react,” Backx says.
While the project team looks forward to seeing its concept come to life and getting customer feedback, the intense mutual learning that takes place in a co-innovation process of this kind is already yielding other benefits. On the Wolters Kluwer side, the project sparked an acceleration of integration activities with Microsoft that can significantly improve legal workflows and go well beyond existing plug-ins. On the Microsoft side, the SharePoint team is exploring how it could support such third-party content-annotation services in the Microsoft 365 platform.
“In a world that sometimes feels increasingly divided,” Sowula says, “we’re glad to be partnering together to improve the productivity of legal workflows and create new value across ecosystems.”
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by Mark Roy Long | Updated Aug. 5, 2022 – First published on May 18, 2022
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As a small business owner, there are plenty of unexpected situations you may suddenly find yourself in: undergoing an IRS audit, responding to an Equal Employment Opportunity Commission (EEOC) complaint filed by a past or current employee, dealing with a vendor who insists you didn’t make a payment, or resolving a workman’s comp claim.
In each of these cases, you’ll be required to provide business records to show exactly what you did or did not do. If you can’t, you could easily face hefty fines or other penalties. That’s why it’s critical to create and maintain a document retention policy.
Document retention is the process by which records required for ongoing business operations are identified and maintained. A document retention policy provides guidelines for the review, secure storage, and periodic destruction of unneeded records.
Your records will generally fall into the following categories:
The amount of paperwork and digital records generated will multiply over time as you add more customers, employees, products, and vendors.
An effective document management system will allow you to efficiently store and access records, reduce the cost of document production during legal cases, and follow all laws for the preservation of certain records.
Plus, if one or more of the situations in the records management checklist below sounds familiar, you definitely need to set up a document retention and management system as soon as possible.

Documentation retention guidelines will help you avoid all of these problematic situations. Image source: Author
While a document retention policy will aid your internal business operations, it can also help externally. For example, customers want to know their data is being securely stored, so you might highlight the security and maintenance of your records as part of your website marketing.
Creating and using your document retention policy is not a one-time endeavor — it’s an ongoing activity. It’s not part of the (perhaps more exciting) front-line activities you’re likely more focused on, such as sales and customer service, so it may help, as you work through the steps below, to use one of the best productivity apps available to help keep your record-keeping on track.
First, you need to comprehensively catalog all of your existing documents to see exactly what you have as well as the quantity of physical and digital records you’re dealing with.
The key strategy with your initial document inventory is to be methodical. And while you may know — or think you know! — where everything of relevance is, you need to talk to all of your employees to discover any other formal or informal physical and digital repositories you may not be aware of.
While a document may have been relevant at one point in time, that doesn’t mean it always will be. With a few exceptions — deeds, patents, auditor reports, and annual financial records — almost every document has a limited lifespan, usually no longer than 10 years.
Keeping records any longer than necessary has the potential to create legal liabilities for your business. For example, the discovery process during litigation could find additional damaging information in your records that should have been already deleted.
Plus, you don’t want to be responsible for any confidential customer information being accessed that also should have been destroyed. That’s why establishing a clearly defined document retention schedule is the backbone of your document management policy.
Effective storage of documents is critical to preserve records as well as ensuring access to them as necessary in a timely manner.
That includes everything from locking file cabinets and storage rooms at your business, to using a “secure drawer” as part of your website management, to other offsite options.
Digital documents require less storage space than their physical counterparts. On the other hand, you may have legacy paper or wet signature documents you want to maintain as hard copies.

Offsite storage of digital records in a data center can increase security and lessen the chances that documents are stolen, lost due to natural disasters, or accidentally destroyed. Image source: Author
Just as you need to keep necessary business documents, you also need to destroy them according to your retention schedule. That will keep storage costs down and reduce the chances of business and customer data being accessed illegally or inappropriately.
Minimize the chance of future legal issues by explicitly documenting chain-of-custody procedures when destroying paper documents and electronic files.
Even the best document retention policy won’t have a net positive effect if none of your employees know about it. That’s why using effective communication strategies will be key, especially as the policy is updated over time.
Your document retention policy also won’t be particularly effective if there’s only a printout of it in a three-ring binder that’s sitting on the top shelf in a seldom-used storage closet. Instead, make it available online for easy access by your employees.
Don’t wait until a critical event occurs — an IRS audit, natural disaster, or lawsuit — to realize you need a robust record retention schedule. Instead, begin the process outlined above to develop your document retention policy now.
Sure, you’ll have to build the cost into your business budget, but over the long haul, it will definitely pay for itself — and more! — by saving you both time and money.
Cash back, travel rewards, 0% intro APR financing: all of these can be great credit card perks for business owners. But how do you find the right business credit card for you? There are tons of offers on the market today, and sifting through them to find the right one can be a big hassle. So we've done the hard work for you.
Get started with one of our top business credit card picks of 2022 today.
Mark Roy Long is a technology journalist and workflow expert writing for The Ascent and The Motley Fool.
We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.
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WASHINGTON — U.S. Secretary of the Treasury Janet L. Yellen and White House Office of Management and Budget (OMB) Director Shalanda D. Young today released the final budget results for fiscal year (FY) 2022. During FY 2022, the deficit fell by $1.4 trillion—the largest one-year decrease in the Federal deficit in American history. The 2022 deficit of $1.375 trillion was half of the FY 2021 deficit, $40 billion less than forecasted in the President’s 2023 Budget and $1.8 trillion lower than the deficit the President inherited. As a percentage of GDP, the FY 2022 deficit was 6.8 percentage points lower than in the previous year.^[1]
From Day One, the Biden-Harris Administration has been working to build an economy that works for everyone. Under the President’s leadership—and thanks in part to the American Rescue Plan (ARP) and a historic vaccination effort—America has more than recovered all of the jobs lost during the pandemic. Our economy has added more than 10 million jobs since the President took office, and the unemployment rate has returned to its pre-pandemic, 50-year low of 3.5 percent. The President’s economic plan has helped usher in a new era of American manufacturing, with nearly 700,000 new manufacturing jobs added since January 2021. And, the historic Inflation Reduction Act will bring down energy, health care, and prescription drug costs, tackle the climate crisis, further reduce the deficit, and make our tax system fairer.
“Today’s joint budget statement provides further evidence of our historic economic recovery, driven by our vaccination effort and the American Rescue Plan. It also demonstrates President Biden’s commitment to strengthening our nation’s fiscal health,” Secretary of the Treasury Janet L. Yellen said. “President Biden’s recently enacted economic plan will build on the economic gains of the past two years. The Bipartisan Infrastructure Law, CHIPS and Science Act, and Inflation Reduction Act will help put the country on a path to sustained economic growth, create new and good-paying jobs across the country, and strengthen American economic resilience for years to come.”
“The President’s economic plan is focused on growing our economy from the bottom up and the middle out,” said Shalanda Young, Director of the Office of Management and Budget. “Under his leadership, more Americans are working today than at any point in our country’s history, our economy has added more than 10 million jobs, manufacturing is booming, and we cut last year’s deficit in half. With the historic Inflation Reduction Act, the Biden-Harris Administration is going to continue building on this progress and delivering for the American people—cutting everyday costs for families, tackling the climate crisis, and ensuring the biggest corporations pay their fair share.”
Year-end data from the September 2022 Monthly Treasury Statement of Receipts and Outlays of the United States Government show that the deficit for FY 2022 was $1.375 trillion—$1.400 trillion less than the prior year’s deficit. As a percentage of GDP, the deficit was 5.5 percent, a decrease of 6.8 percentage points (55 percent) from 12.3 percent in FY 2021.
The FY 2022 deficit was $40 billion less than the estimate of $1.415 trillion in the 2023 Budget published in May, and $344 billion higher than the estimate of $1.032 trillion in the Mid-Session Review (MSR), a supplemental update to the Budget published in August.
 
Receipts
Outlays
Deficit
FY 2021 Actual
4.046
6.822
2.776
    Percentage of GDP
17.9%
30.1%
12.3%
FY 2022 Estimates:
 
 
 
    2023 Budget
4.437
5.852
1.415
    2023 Mid-Session Review
4.941
5.972
1.032
FY 2022 Actual
4.896
6.272
1.375
    Percentage of GDP
19.6%
25.1%
5.5%
_{Note: Detail may not add to totals due to rounding.}
 
Governmental receipts totaled $4.896 trillion in FY 2022 and exceeded Budget projections but were less than MSR projections. As a share of GDP, receipts were 19.6 percent. Relative to FY 2021, receipts increased by $850 billion, an increase of 21 percent. The increase in receipts for FY 2022 is primarily attributable to higher individual and corporation income tax collections and social insurance and retirement receipts, along with increases in most other sources of receipts.
Outlays were $6.272 trillion in FY 2022, $420 billion higher than projected in the Budget and $299 billion higher than projected in the MSR. Compared with FY 2021, outlays decreased $550 billion, or 8.1 percent. This decrease in part reflects reductions in COVID-related spending, including unemployment insurance and Small Business Administration programs. Outlays for some other categories of spending increased, including student loans, Medicare, and net interest.
Total Federal borrowing from the public increased by $2.0 trillion during FY 2022 to $24.3 trillion. The increase in borrowing included $1.4 trillion in borrowing to finance the deficit as well as $0.6 trillion in net borrowing related to other transactions such as changes in cash balances and net disbursements for Federal credit programs. As a percentage of GDP, borrowing from the public fell from 98.4 percent of GDP at the end of FY 2021 to 97.0 percent of GDP at the end of FY 2022.
To coincide with the release of the Federal Government’s year-end financial data, Treasury’s Bureau of the Fiscal Service (Fiscal Service) is releasing a new version of Your Guide to America’s Finances (Your Guide). The Fiscal Service created Your Guide in 2019 to make Federal financial information transparent and accessible to all Americans. The latest version offers easy-to-understand explainer pages and makes content more accessible on mobile devices. The data in Your Guide are automatically updated throughout the year as new data become available, ensuring that the public has access to the latest financial information as quickly as possible.
Below are explanations of the differences between FY 2022 estimates and the year-end actual amounts for receipts by source and outlays by agency.
Total receipts for FY 2022 were $4,896.1 billion, $44.6 billion lower than the MSR estimate of $4,940.7 billion. This net decrease in receipts was the net effect of lower-than-estimated collections of individual income taxes, deposits of earnings by the Federal Reserve, other miscellaneous receipts, and customs duties, partially offset by higher-than-estimated collections of corporation income taxes, social insurance and retirement receipts, estate and gift taxes, and excise taxes. Table 2 displays actual receipts and estimates from the MSR by source.
Total outlays were $6,271.5 billion for FY 2022, $299.3 billion higher than the MSR estimate. Table 3 displays actual outlays by agency and major program as well as estimates from the Budget and the MSR. The largest changes in outlays from the MSR were in the following areas:
Department of Agriculture — Outlays for the Department of Agriculture were $245.2 billion, $14.0 billion lower than the MSR estimate.
Supplemental Nutrition Assistance Program (SNAP) outlays in FY 2022 were approximately $16.9 billion below MSR estimates. This is due to a combination of unexpected delays in the issuance of Pandemic EBT benefits in some states; a faster-than-anticipated decline in the use of Emergency Allotment payments provided during the COVID-19 pandemic; and lower-than-anticipated program participation.
Outlays in the Child Nutrition Programs were about $5.3 billion higher than MSR estimates. About half of this difference was due to outlays from a transfer of funds for Local Food Procurement and Management and funding provided in the Keep Kids Fed Act. In addition, the cost of the waivers allowing for universal free school meals in school year 2022-2023 was greater than anticipated.
Actual outlays for the Office of the Secretary in FY 2022 were $3.1 billion higher than the estimate in MSR. This is primarily due to faster-than-anticipated implementation of the Emergency Relief Program (ERP), which provided indemnity payments to farmers impacted by natural disasters. The agency had only assumed in $1 billion in outlays in MSR for ERP.
Department of Defense — Outlays for the Department of Defense were $726.6 billion, $7.1 billion higher than the MSR estimate. This difference is mostly due to higher-than expected outlays for such as operational and training costs including fuel ($1.7 billion), Air Force and Defense-wide research, development, test, and evaluation activities ($2.8 billion), and Air Force and Army personnel ($2.5 billion).
Department of Education — Outlays for the Department of Education were $639.4 billion, $408.0 billion higher than the MSR estimate. Outlays in the Federal Direct Student Loan Program and the Family Federal Education Loan Program were $429.2 billion higher than the MSR estimate due primarily to upward modifications for extensions of the pause of student loan payments, interest, and collections first authorized by the Coronavirus Aid, Relief, and Economic Security (CARES) Act, waivers related to income-driven repayment forgiveness and Public Service Loan Forgiveness, and broad-based student loan forgiveness authorized by the Higher Education Relief Opportunities for Students (HEROES) Act of 2003. Outlays in the Elementary and Secondary Education account were $20.1 billion lower than the MSR estimate primarily due to challenges in the State and local administration of ARP and other COVID-19 supplemental appropriations, including ongoing staffing shortages in school districts and supply chain constraints that have pushed out dates for completing facility upgrades.
Department of Health and Human Services — Outlays for the Department of Health and Human Services were $1.643 trillion, $17.7 billion lower than the MSR estimate. Gross outlays for Medicare’s Hospital Insurance (HI) and Supplementary Medical Insurance (SMI) trust funds were $8.0 billion and $3.5 billion higher than projected due to the timing of payments to Medicare Advantage plans. There were more receipts than expected for the fiscal year, largely due to refunds, which totaled $50.0 billion for HI and $26.9 billion for SMI in 2022. The increase in refunds is partially from the repayment of Medicare accelerated and advance payments to providers and suppliers.
The actual outlays for other health programs were $14.3 billion lower than projected in MSR, primarily due to the absence of an appropriation for Cost-Sharing Reductions. Outlays for the Indian Health Services were $3.8 billion lower than MSR due to a slowdown in outlays in the fourth quarter. Outlays for Medicaid were $5.8 billion above the MSR estimate, primarily driven by higher-than-anticipated enrollment.
Department of Homeland Security — Outlays for the Department of Homeland Security were $80.9 billion, $10.2 billion lower than the MSR estimate. Approximately $7 billion of the difference is driven by the Federal Emergency Management Agency (FEMA), of which over $5 billion is due to FEMA’s Disaster Relief Fund. This is due to slower-than-anticipated grant draw-downs from states, including for COVID-19 response spending. In general, states have slowed down reimbursement requests and are likely spending down other Federal resources.
Department of Labor — Outlays for the Department of Labor were $51.7 billion, $51.6 billion lower than the MSR estimate. The difference is predominately due to lower-than-expected outlays from the Pension Benefit Guaranty Corporation’s (PBGC) Special Financial Assistance Program (SFA). PBGC outlays were $47.3 billion lower than expected as a result of a number of multi-employer pension plans withdrawing or delaying their application for SFA until after the release of the SFA final rule released on July 6, 2022, which is used to calculate the amount of Special Financial Assistance that would be awarded to pension plans. In addition, outlays for the Employment and Training Administration were $4.6 billion lower than expected as a result of recoveries of overpayments of pandemic Unemployment Insurance (UI) benefits, particularly from the Federal Pandemic Unemployment Compensation (FPUC) and Pandemic Unemployment Assistance (PUA) programs. Recoveries in these programs were higher than initially projected.
Department of State — Outlays for the Department of State were $33.2 billion, $3.4 billion lower than the MSR estimate. Outlays were lower than expected for Department of State programs associated with the administration of foreign affairs, mostly due to lower-than-anticipated spending for diplomatic and consular operations, as well as lower outlays than estimated for humanitarian assistance and international narcotics control and law enforcement assistance programs.
Department of Transportation — Outlays for the Department of Transportation were $113.7 billion, $9.2 billion lower than the MSR estimate. More than half of this difference was due to slower-than-expected spending of Federal Transit Administration (FTA) COVID supplemental funding for a variety of reasons, including supply chain disruptions and labor force shortages that impacted local transit agencies’ ability to spend Federal funds.  The other major reason for the difference was that the Federal Railroad Administration (FRA) and Amtrak agreed to a new payment method for Infrastructure Investment and Jobs Act supplemental funds, under which FRA will outlay quarterly based on Amtrak’s estimated funding needs for the upcoming period.
Department of the Treasury — Outlays for the Department of the Treasury were $1.162 trillion, $24.9 billion higher than the MSR estimate.
Interest on the public debt, which is paid to the public and to trust funds and other Government accounts, was $36.6 billion higher than the MSR estimate. The difference was due primarily to higher-than-projected interest paid on inflation-protected securities held both by the public and by Government accounts.
Net outlays for intragovernmental interest transactions with non-budgetary credit financing accounts were $8.2 billion higher than projected, including $6.1 billion in lower-than-projected receipts of interest from credit financing accounts and $2.0 billion higher-than-anticipated interest paid to credit financing accounts. (Interest received from credit financing accounts is reported in Treasury’s aggregate offsetting receipts.)
Non-IRS pandemic response programs enacted in the Consolidated Appropriations Act, 2021 and the ARP accounted for $6.4 billion in lower-than-projected outlays. This difference was mostly attributable to $3.7 billion less-than-forecasted outlays by the Emergency Rental Assistance program, because of slower-than-expected spending by recipients, which delayed subsequent disbursements. This difference also reflected $1.6 billion in lower-than-estimated outlays by the State Small Business Credit Initiative (SSBCI), $0.7 billion lower outlays by the ARP state and local programs, and $0.4 billion lower outlays by the Homeowner Assistance Fund due to slower-than-expected recipient submissions and ongoing award and compliance reviews.
Outlays for individual and corporate refundable credits created in the CARES Act, the Consolidated Appropriations Act, 2021, and the ARP, along with coronavirus payments (e.g., Economic Impact Payments), were $15.8 billion lower than estimated at MSR due to lower-than-expected take-up and other factors. Other refundable credits were $1.3 billion lower than estimated. This was partly offset by outlays for Refundable Premium Tax Credits, which were $7.3 billion higher than estimated at MSR due to increased enrollment in the individual health insurance market.
Net outlays for other Treasury activities were $4.3 billion lower than MSR estimates, reflecting (among other factors) lower-than-projected net outlays for IRS administrative expenses, Troubled Asset Relief Program (TARP) housing programs and Treasury Forfeiture Fund activities.
Department of Veterans Affairs — Outlays for the Department of Veterans Affairs (VA) were $273.9 billion, $7.6 billion lower than the MSR estimate.
The difference was driven mostly by differences in Benefits programs, which were $4.6 billion lower than the MSR estimate, and Departmental Administration programs, which were $4.0 billion lower than the MSR estimate. Benefits programs were lower than expected in part due to fewer beneficiaries accessing benefits than estimated. Departmental Administration programs were lower than expected in part due to delays in Electronic Health Record Modernization deployment. These differences were partially offset by outlays in the Veterans Health Administration that were higher than estimated at MSR.
Undistributed Offsetting Receipts — Undistributed Offsetting Receipts were -$418.4 billion, $10.3 billion higher net collections than the MSR estimate.
Interest received by trust funds was $9.9 billion lower than the MSR estimate (higher interest collections). The difference was due largely to Military Retirement Fund interest earnings on inflation-protected securities. Total Military Retirement Fund interest earnings were $9.4 billion higher than the MSR estimate. This intragovernmental interest is paid out of the Department of the Treasury account for interest on the public debt and has no net impact on total Federal Government outlays.
Table 2- Receipts by Source
Table 3- Outlays by Agency
^[1] _{The estimates of GDP used in the calculations of the deficit and borrowing relative to GDP reflect the revisions to historical data released by the Bureau of Economic Analysis (BEA) in September 2022. GDP for FY 2022 is based on the economic forecast for the 2023 Mid-Session Review, adjusted for the BEA revisions.}

source

Today will bring the S&P Case-Shiller U.S. home price index, the FHFA U.S. home price index, and the consumer confidence index. 
Looking ahead to tomorrow, trade in goods data and new home sales are on tap.
The following public companies are slated to release corporate earnings today, October 25:
3M Co. (NYSE:MMM — $118.38) operates as a diversified technology company worldwide. 3M will report its Q3 earnings of 2022 before the bell today.
 
Archer-Daniels-Midland Co. (NYSE:ADM — $89.28) procures, transports, stores, processes, and merchandises agricultural commodities, products, and ingredients in the United States, Switzerland, Cayman Islands, Brazil, Mexico, the United Kingdom, and internationally. Archer-Daniels-Midland will report its Q3 earnings of 2022 before the bell today.
 
Ares Capital Corp. (NASDAQ:ARCC — $18.18) is a business development company specializing in acquisition, recapitalization, mezzanine debt, restructurings, rescue financing, and leveraged buyout transactions of middle market companies. Ares Capital will report its Q3 earnings of 2022 before the bell today.
 
Armstrong World Industries Inc. (NYSE:AWI — $79.67) designs, manufactures, and sells ceiling systems primarily for use in the construction and renovation of residential and commercial buildings in the United States, Canada, and Latin America. Armstrong World Industries will report its Q3 earnings of 2022 before the bell today.
 
Biogen Inc. (NASDAQ:BIIB — $274.62) discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases. Biogen will report its Q3 earnings of 2022 before the bell today.
 
Centene Corp. (NYSE:CNC — $75.81) operates as a multi-national healthcare enterprise that provides programs and services to under-insured and uninsured individuals in the United States. Centene will report its Q3 earnings of 2022 before the bell today.
 
Cleveland-Cliffs Inc. (NYSE:CLF — $15.53) operates as a flat-rolled steel producer in North America. Cleveland-Cliffs will report its Q3 earnings of 2022 before the bell today.
 
The Coca-Cola Co. (NYSE:KO — $57.57) manufactures, markets, and sells various nonalcoholic beverages worldwide. Coca-Cola will report its Q3 earnings of 2022 before the bell today.
 
Corning Inc. (NYSE:GLW — $32.33) engages in display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses worldwide. Corning will report its Q3 earnings of 2022 before the bell today.
 
First Bancorp Inc. (NYSE:FBP — $15.95) operates as a bank holding company for FirstBank Puerto Rico that provides various financial services for retail, commercial, and institutional clients. First Bancorp will report its Q3 earnings of 2022 before the bell today.
 
Franklin Electric Co. Inc. (NASDAQ:FELE — $86.94) designs, manufactures, and distributes water and fuel pumping systems worldwide. Franklin Electric will report its Q3 earnings of 2022 before the bell today.
 
GATX Corp. (NYSE:GATX — $95.53) operates as railcar leasing company in the United States and internationally. GATX will report its Q3 earnings of 2022 before the bell today.
 
General Electric Co. (NYSE:GE — $73.36) operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. General Electric will report its Q3 earnings of 2022 before the bell today.
 
General Motors Co. (NYSE:GM — $35.72) designs, builds, and sells trucks, crossovers, cars, and automobile parts and accessories in North America, the Asia Pacific, the Middle East, Africa, South America, the United States, and China. General Motors will report its Q3 earnings of 2022 before the bell today.
 
Graphic Packaging Holding Co. (NYSE:GPK — $21.51) provides fiber-based packaging solutions to food, beverage, foodservice, and other consumer products companies. Graphic Packaging will report its Q3 earnings of 2022 before the bell today.
 
Halliburton Co. (NYSE:HAL — $34.58) provides products and services to the energy industry worldwide. Halliburton will report its Q3 earnings of 2022 before the bell today.
 
Illinois Tool Works Inc. (NYSE:ITW — $200.78) manufactures and sells industrial products and equipment worldwide. Illinois Tool will report its Q3 earnings of 2022 before the bell today.
 
Invesco Ltd. (NYSE:ITW — $15.05) is a publicly owned investment manager. Invesco will report its Q3 earnings of 2022 before the bell today.
 
JetBlue Airways Corp. (NASDAQ:JBLU — $7.54) provides air passenger transportation services. JetBlue Airways will report its Q3 earnings of 2022 before the bell today.
 
Kimberly-Clark Corp. (NYSE:KMB — $115.86) manufactures and markets personal care and consumer tissue products worldwide. Kimberly-Clark will report its Q3 earnings of 2022 before the bell today.
 
Lakeland Financial Corp. (NASDAQ:LKFN — $76.61) operates as the bank holding company for Lake City Bank that provides various banking products and services. Lakeland Financial will report its Q3 earnings of 2022 before the bell today.
 
Moody’s Corp. (NASDAQ:MCO — $244.98) operates as an integrated risk assessment firm worldwide. Moody’s will report its Q3 earnings of 2022 before the bell today.
 
MSCI Inc. (NASDAQ:MSCI — $412.15) provides investment decision support tools for the clients to manage their investment processes worldwide. MSCI will report its Q3 earnings of 2022 before the bell today.
 
Novartis AG (NYSE:NVS — $77.71) researches, develops, manufactures, and markets healthcare products worldwide. Novartis AG will report its Q3 earnings of 2022 before the bell today.
 
NVR Inc. (NYSE:NVR — $4,047.04) operates as a homebuilder in the United States. NVR will report its Q3 earnings of 2022 before the bell today.
 
Old National Bancorp. (NASDAQ:ONB — $18.34) operates as the bank holding company for Old National Bank that provides various financial services to individual and commercial customers in the United States. Old National Bancorp will report its Q3 earnings of 2022 before the bell today.
 
PACCAR Inc. (NASDAQ:PCAR — $92.02) designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, Mexico, South America, Australia, and internationally. PACCAR will report its Q3 earnings of 2022 before the bell today.
 
Pentair plc (NYSE:PNR — $40.78) provides various water solutions worldwide. Pentair will report its Q3 earnings of 2022 before the bell today.
 
Polaris Inc. (NYSE:PII — $94.47) designs, engineers, manufactures, and markets power sports vehicles worldwide. Polaris will report its Q3 earnings of 2022 before the bell today.
 
Portland General Electric Co. (NYSE:POR — $43.75) engages in the generation, wholesale purchase, transmission, distribution, and retail sale of electricity in the state of Oregon. Portland General Electric will report its Q3 earnings of 2022 before the bell today.
 
PulteGroup Inc. (NYSE:PHM — $37.96) engages in the homebuilding business in the United States. PulteGroup will report its Q3 earnings of 2022 before the bell today.
 
Raytheon Technologies Corp. (NYSE:RTX — $89.73) provides systems and services for the commercial, military, and government customers worldwide. Raytheon Technologies will report its Q3 earnings of 2022 before the bell today.
 
SAP SE (NYSE:SAP — $91.01) operates as an enterprise application software company worldwide. SAP will report its Q3 earnings of 2022 before the bell today.
 
Sensata Technologies Holding plc (NYSE:ST — $41.62) develops, manufactures, and sells sensors, sensor-based solutions, controls, and other products in the Americas, Europe, Asia, and internationally. Sensata Technologies will report its Q3 earnings of 2022 before the bell today.
 
The Sherwin-Williams Co. (NYSE:SHW — $212.53) develops, manufactures, distributes, and sells paints, coatings, and related products to professional, industrial, commercial, and retail customers. Sherwin-Williams will report its Q3 earnings of 2022 before the bell today.
 
Shutterstock Inc. (NYSE:SSTK — $45.82) provides quality content, and creative workflow solutions in North America, Europe, and internationally. Shutterstock will report its Q3 earnings of 2022 before the bell today.
 
Simmons First National Corp. (NASDAQ:SFNC — $24.20) operates as the holding company for Simmons Bank that provides banking and other financial products and services to individuals and businesses. Simmons First National will report its Q3 earnings of 2022 before the bell today.
 
SITE Centers Corp. (NYSE:SITC — $11.63) is an owner and manager of open-air shopping centers that provide a highly-compelling shopping experience and merchandise mix for retail partners and consumers. SITE Centers will report its Q3 earnings of 2022 before the bell today.
 
Southside Bancshares Inc. (NASDAQ:SBSI — $36.05) operates as the bank holding company for Southside Bank that provides a range of financial services to individuals, businesses, municipal entities, and nonprofit organizations. Southside Bancshares will report its Q3 earnings of 2022 before the bell today.
 
Synchrony Financial (NYSE:SYF — $33.07) operates as a consumer financial services company in the United States. Synchrony Financial will report its Q3 earnings of 2022 before the bell today.
 
TransUnion (NYSE:TRU — $56.70) provides risk and information solutions. TransUnion will report its Q3 earnings of 2022 before the bell today.
 
Trinity Industries Inc. (NYSE:TRN — $23.43) provides rail transportation products and services under the TrinityRail name in North America. Trinity Industries will report its Q3 earnings of 2022 before the bell today.
 
UBS Group AG (NYSE:UBS — $15.18) provides financial advice and solutions to private, institutional, and corporate clients worldwide. UBS Group will report its Q3 earnings of 2022 before the bell today.
 
United Parcel Service Inc. (NYSE:UBS — $167.55) provides letter and package delivery, transportation, logistics, and related services. United Parcel Service will report its Q3 earnings of 2022 before the bell today.
 
Valero Energy Corp. (NYSE:VLO — $129.22) manufactures, markets, and sells transportation fuels and petrochemical products in the United States, Canada, the United Kingdom, Ireland, and internationally. Valero Energy will report its Q3 earnings of 2022 before the bell today.
 
Xerox Corp. (NASDAQ:XRX — $15.91) designs, develops, and sells document management systems and solutions in the United States, Europe, Canada, and internationally. Xerox will report its Q3 earnings of 2022 before the bell today.
 
Agilysys Inc. (NASDAQ:AGYS — $54.98) operates as a developer and marketer of hardware and software products and services to the hospitality industry in North America, Europe, the Asia-Pacific, and India. Agilysys will report its Q3 earnings of 2022 after the close today.
 
Alphabet Inc. (NASDAQ:GOOG — $103.97) engages in the business of acquisition and operation of different companies. Alphabet will report its Q3 earnings of 2022 after the close today.
 
Ameriprise Financial Inc. (NYSE:AMP — $271.65) provides various financial products and services to individual and institutional clients in the United States and internationally. Ameriprise Financial will report its Q3 earnings of 2022 after the close today.
 
AVANGRID Inc. (NYSE:AGR — $39.83) engages in the regulated energy transmission and distribution, and renewable energy generation businesses in the United States. AVANGRID will report its Q3 earnings of 2022 after the close today.
 
Axalta Coating Systems Ltd. (NYSE:AXTA — $23.54) manufactures, markets, and distributes high-performance coatings systems in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. Axalta Coating Systems will report its Q3 earnings of 2022 after the close today.
 
Boston Properties Inc. (NYSE:BXP — $72.82) is the largest publicly-held developer and owner of Class A office properties in the United States. Boston Properties will report its Q3 earnings of 2022 after the close today.
 
Boyd Gaming Corp. (NYSE:BYD — $53.78) operates as a multi-jurisdictional gaming company. Boyd Gaming will report its Q3 earnings of 2022 after the close today.
 
Canadian National Rail Co. (NYSE:CNI — $113.43) engages in the rail and related transportation business. Canadian National Rail will report its Q3 earnings of 2022 after the close today.
 
ChampionX Corp. (NASDAQ:CHX — $24.19) provides chemistry solutions, and engineered equipment and technologies to oil and gas companies worldwide. ChampionX will report its Q3 earnings of 2022 after the close today.
 
The Chemours Co. (NYSE:CC — $28.93) provides performance chemicals in North America, the Asia Pacific, Europe, the Middle East, Africa, and Latin America. Chemours will report its Q3 earnings of 2022 after the close today.
 
Chipotle Mexican Grill Inc. (NYSE:CMG — $1,545.84) owns and operates Chipotle Mexican Grill restaurants. Chipotle Mexican Grill will report its Q3 earnings of 2022 after the close today.
 
Chubb Ltd. (NYSE:CB — $203.38) provides insurance and reinsurance products worldwide. Chubb will report its Q3 earnings of 2022 after the close today.
 
CoStar Group Inc. (NASDAQ:CSGP — $71.39) provides information, analytics, and online marketplace services to the commercial real estate, hospitality, residential, and related professionals industries in the United States, Canada, Europe, the Asia Pacific, and Latin America. CoStar Group will report its Q3 earnings of 2022 after the close today.
 
EastGroup Properties Inc. (NYSE:EGP — $144.24) is a self-administered equity real estate investment trust. EastGroup will report its Q3 earnings of 2022 after the close today.
 
Encore Wire Corp. (NASDAQ:WIRE — $135.23) manufactures and sells electrical building wires and cables for interior electrical wiring in the United States. Encore Wire will report its Q3 earnings of 2022 after the close today.
 
Enphase Energy Inc. (NASDAQ:ENPH — $253.30) designs, develops, manufactures, and sells home energy solutions for the solar photovoltaic industry in the United States and internationally. Enphase Energy will report its Q3 earnings of 2022 after the close today.
 
Equity Commonwealth (NYSE:EQC — $25.65) is a Chicago based, internally managed and self-advised real estate investment trust. Equity Commonwealth will report its Q3 earnings of 2022 after the close today.
 
Equity Residential (NYSE:EQR — $64.15) is committed to creating communities where people thrive. Equity Residential will report its Q3 earnings of 2022 after the close today.
 
F5 Networks Inc. (NASDAQ:FFIV — $148.58) provides multi-cloud application security and delivery solutions for the security, performance, and availability of network applications, servers, and storage systems. F5 will report its Q3 earnings of 2022 after the close today.
 
First Commonwealth Financial Corp. (NASDAQ:FCF — $13.94) provides various consumer and commercial banking services in the United States. First Commonwealth will report its Q3 earnings of 2022 after the close today.
 
First Interstate BancSystem Inc. (NASDAQ:FIBK — $42.28) operates as the bank holding company for First Interstate Bank that provides range of banking products and services in the United States. First Interstate BancSystem will report its Q3 earnings of 2022 after the close today.
 
FirstEnergy Corp. (NASDAQ:FE — $36.88) generates, transmits, and distributes electricity in the United States. FirstEnergy will report its Q3 earnings of 2022 after the close today.
 
Hawaiian Holdings Inc. (NASDAQ:HA — $15.30) engages in the scheduled air transportation of passengers and cargo. Hawaiian Holdings will report its Q3 earnings of 2022 after the close today.
 
Highwoods Properties Inc. (NYSE:HIW — $26.14) is a publicly-traded real estate investment trust. Highwoods Properties will report its Q3 earnings of 2022 after the close today.
 
Ideanomics Inc. (NASDAQ:IDEX — $0.27) develops zero emission mobility solutions for the off-highway and on-highway commercial vehicle markets in Asia and the United States. Ideanomics will report its Q3 earnings of 2022 after the close today.
 
Juniper Networks Inc. (NYSE:JNPR — $28.49) designs, develops, and sells network products and services worldwide. Juniper Networks will report its Q3 earnings of 2022 after the close today.
 
Kilroy Realty Corp. (NYSE:KRC — $40.92) is a leading West Coast landlord and developer, with a major presence in San Diego, Greater Los Angeles, the San Francisco Bay Area, and the Pacific Northwest. Kilroy Realty will report its Q3 earnings of 2022 after the close today.
 
Luxfer Holdings plc (NYSE:LXFR — $15.94) designs, manufactures, and supplies high-performance materials, components, and high-pressure gas containment devices for defense and emergency response, healthcare, transportation, and general industrial end-market applications. Luxfer will report its Q3 earnings of 2022 after the close today.
 
Manhattan Associates Inc. (NASDAQ:MANH — $128.50) develops, sells, deploys, services, and maintains software solutions to manage supply chains, inventory, and omni-channel operations. Manhattan Associates will report its Q3 earnings of 2022 after the close today.
 
Matador Resources Co. (NYSE:MTDR — $66.71) engages in the exploration, development, production, and acquisition of oil and natural gas resources in the United States. Matador Resources will report its Q3 earnings of 2022 after the close today.
 
Mattel Inc. (NASDAQ:MAT — $19.68) designs and produces toys and consumer products worldwide. Mattel will report its Q3 earnings of 2022 after the close today.
 
MaxLinear Inc. (NASDAQ:MXL — $31.82) provides radiofrequency (RF), high-performance analog, and mixed-signal communications systems-on-chip solutions (SoCs) for the connected home, wired and wireless infrastructure, and industrial and multi-market applications worldwide. MaxLinear will report its Q3 earnings of 2022 after the close today.
 
Microsoft Corp. (NASDAQ:MSFT — $247.25) develops, licenses, and supports software, services, devices, and solutions worldwide. Microsoft will report its Q3 earnings of 2022 after the close today.
 
Navient Corp. (NASDAQ:NAVI — $15.50) provides education loan management and business processing solutions for education, healthcare, and government clients at the federal, state, and local levels in the United States. Navient will report its Q3 earnings of 2022 after the close today.
 
NCR Corp. (NYSE:NCR — $19.38) provides various software and services worldwide. NCR will report its Q3 earnings of 2022 after the close today.
 
NextGen Healthcare Inc. (NASDAQ:NXGN — $18.53) provides healthcare technology solutions in the United States. NextGen Healthcare will report its Q3 earnings of 2022 after the close today.
 
NexTier Oilfield Solutions Inc. (NYSE:NEX — $11.23) provides well completion and production services in various active and demanding basins. NexTier Oilfield will report its Q3 earnings of 2022 after the close today.
 
Renasant Corp. (NASDAQ:RNST — $34.99) operates as a bank holding company for Renasant Bank that provides a range of financial, wealth management, fiduciary, and insurance services to retail and commercial customers. Renasant will report its Q3 earnings of 2022 after the close today.
 
Retail Opportunity Investments Corp. (NASDAQ:ROIC — $14.10) is a fully-integrated, self-managed real estate investment trust. Retail Opportunity Investments will report its Q3 earnings of 2022 after the close today.
 
Skechers USA Inc. (NYSE:SKC — $34.68) designs, develops, markets, and distributes footwear for men, women, and children; and performance footwear for men and women worldwide. Skechers USA will report its Q3 earnings of 2022 after the close today.
 
Spotify Technology S.A. (NYSE:SPOT — $94.66) provides audio streaming services worldwide. Spotify will report its Q3 earnings of 2022 after the close today.
 
Stride Inc. (NYSE:LRN — $46.33) provides proprietary and third-party online curriculum, software systems, and educational services to facilitate individualized learning for students primarily in kindergarten through 12th grade (K-12) in the United States and internationally. Stride will report its Q3 earnings of 2022 after the close today.
 
Tenable Holdings Inc. (NASDAQ:TENB — $32.63) provides cyber exposure solutions for in the Americas, Europe, the Middle East, Africa, the Asia Pacific, and Japan. Tenable will report its Q3 earnings of 2022 after the close today.
 
Teradyne Inc. (NASDAQ:TER — $77.46) designs, develops, manufactures, sells, and supports automatic test equipment worldwide. Teradyne will report its Q3 earnings of 2022 after the close today.
 
Texas Instruments Inc. (NASDAQ:TXN — $161.65) designs, manufactures, and sells semiconductors to electronics designers and manufacturers worldwide. Texas Instruments will report its Q3 earnings of 2022 after the close today.
 
TriNet Group Inc. (NASDAQ:TNET — $74.31) provides human resources (HR) solutions, payroll services, employee benefits, and employment risk mitigation services for small and midsize businesses in the United States. TriNet Group will report its Q3 earnings of 2022 after the close today.
 
Trustmark Corp. (NASDAQ:TRMK — $34.30) operates as the bank holding company for Trustmark National Bank that provides banking and other financial solutions to individuals and corporate institutions in the United States. Trustmark will report its Q3 earnings of 2022 after the close today.
 
UMB Financial Corp. (NASDAQ:UMBF — $88.68) operates as the bank holding company for the UMB Bank that provides various banking and other financial services. UMB Financial will report its Q3 earnings of 2022 after the close today.
 
Universal Health Services Inc. (NYSE:UHS — $93.05) owns and operates acute care hospitals, and outpatient and behavioral health care facilities. Universal Health will report its Q3 earnings of 2022 after the close today.
 
Veritex Holdings Inc. (NASDAQ:VBTX — $27.64) operates as the bank holding company for Veritex Community Bank that provides various commercial banking products and services to small and medium-sized businesses, and professionals. Veritex Holdings will report its Q3 earnings of 2022 after the close today.
 
Vicor Corp. (NASDAQ:VICR — $45.91) designs, develops, manufactures, and markets modular power components and power systems for converting electrical power in the United States, Europe, the Asia Pacific, and internationally. Vicor will report its Q3 earnings of 2022 after the close today.
 
Visa Inc. (NYSE:V — $190.71) operates as a payments technology company worldwide. Visa will report its Q3 earnings of 2022 after the close today.
 
WesBanco Inc. (NASDAQ:WSBC — $38.15) operates as the bank holding company for WesBanco Bank, Inc. that provides retail banking, corporate banking, personal and corporate trust, brokerage, and mortgage banking and insurance services. WesBanco will report its Q3 earnings of 2022 after the close today.
 
Wyndham Hotels & Resorts Inc. (NASDAQ:WH — $70.60) operates as a hotel franchisor worldwide. Wyndham Hotels & Resorts will report its Q3 earnings of 2022 after the close today.
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Best IT asset management software of 2022
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An asset management software is a necessary part of every IT department. Find out which one is best for your business.
IT spending continues to increase. According to data outlined in the 2022 State of IT report by Spiceworks’ Ziff Davis, most businesses (53%) expect tech spending to increase year-over-year in the next 12 months.
And according to Gartner, IT spending is expected to grow by 3% throughout 2022, despite the current financial environment.
“Central banks around the world are focusing on fighting inflation, with overall inflation rates expected to be reduced through the end of 2023,” said Gartner Vice President John-David Lovelock. “However, the current levels of volatility being seen in both inflation and currency exchange rates is not expected to deter CIOs’ investment plans for 2022.”
Some of the top categories where budgets are being spent include data center systems, software and IT devices. Purchases are being driven by weaknesses discovered during COVID-19, the push toward sustainability and the constant need to modernize to stay competitive.
As spending increases and organizations continue to invest in everything from cloud-based platforms to IoT devices, managing the tech infrastructure becomes complex. And that’s exactly why IT asset management (ITAM) software is more important than ever before.
IT asset management software is used to track and manage an organization’s physical and digital assets, from mobile devices to software licenses. It ensures companies have eyes on all assets at all times throughout each stage of the IT life cycle.
SEE: IT management software: The ultimate buyer’s guide (TechRepublic)
Jump to:
Asset Panda is known as an asset management tool that can track anything, including IT assets. Asset Panda takes a flexible approach to asset management, enabling teams to custom-tailor the platform to fit their specific needs.
Asset Panda also provides access to unlimited users. Anyone who must track IT assets has the ability to do so in one centralized location.
Key Features
SysAid is a provider that offers everything from a robust IT service desk to full IT asset management. SysAid’s asset management tools are built to fit right into any service desk to boost efficiency and improve visibility.
SysAid’s asset management tools are broad. For example, IT teams can benefit from inventory management, including support for hardware and software assets. Other notable features include the ability to set up custom monitoring and receive real-time alerts.
Key Features
Freshservice by Freshworks is a full-service suite of IT asset management tools. A hallmark feature of Freshservice is the platform’s automated discovery capabilities. Using the tool’s Discovery Probe, IT teams can quickly scan all IT assets in real-time to update asset data. These discovery solutions work with all types of assets, from hardware to virtual machines.
Freshservice also offers features such as relationship mapping, full asset life cycle management, contract management and built-in software-as-a-service (SaaS) management.
Key Features
UpKeep is different from the other platforms in this list in that it combines computerized maintenance management system (CMMS), enterprise asset management (EAM) and application performance management (APM) capabilities in one solution. Through UpKeep’s Asset Operations Management Platform, teams can monitor asset maintenance, manage assets throughout their life cycles and improve asset performance.
UpKeep’s unique capabilities make the platform a great choice for IT teams in technical industries such as manufacturing, government, fleet management and utilities. Plus, UpKeep is a mobile-first platform, enabling teams to track and manage their assets from anywhere.
Key Features
ManageEngine’s AssetExplorer is a web-based, end-to-end asset management tool. AssetExplorer enables teams to manage IT assets, including hardware and software, from deployment to retirement.
A key feature of AssetExplorer is the built-in software license management tools. Teams can manage all types of licenses, including individual licenses, original equipment manufacturer (OEM) licenses and enterprise licenses. As a result, IT teams can ensure license compliance.
Other capabilities include IT asset inventory management, software asset management, CMDB and purchase order management. AssetExplorer is different from other options on this list, as the platform does offer a free edition that can be used by teams with fewer assets.
Key Features
ServiceNow is a platform used by IT teams to connect all IT workflows, from service management to portfolio management. ServiceNow’s IT Asset Management solution enables IT teams to automate the life cycle of software, hardware and cloud-based assets. Built-in capabilities include everything from hardware asset management to IT asset offboarding and beyond.
These capabilities are built on ServiceNow’s Now Platform, which enables IT teams to use one centralized source for all assets. Plus, teams can automate their asset management workflows using built-in, no-code playbooks.
ServiceNow integrates with a wide range of other apps and services to help IT teams improve efficiency. Examples of current integrations include Jamf, Microsoft and IBM.
Key Features
GoCodes is a no-nonsense asset tracking solution. GoCodes provides custom QR code tracking for everything from desktop computers to routers and beyond. Plus, teams can use the mobile scanning apps to complete asset-specific tasks from anywhere.
GoCodes also features robust reporting and analytics tools, so teams can see in-depth data about their assets in real-time. Teams can utilize the built-in check-in/out solution to check IT equipment out when necessary to simplify collaboration and tracking.
Key Features
Ivanti is a full-service IT asset management platform offering solutions for discovering, managing, securing and servicing all IT devices. Ivanti Neurons for ITAM is a solution that enables IT teams to track hardware and software as well as on-premises and cloud-based devices using a centralized database.
The solution also features real-time discovery, life cycle tracking, barcode scanning and more. Plus, teams have access to more robust tools such as vendor management and automation.
Key Features
IT asset management software is a subcategory of IT management software. It simplifies the process of managing all IT-related assets, from computers to SaaS applications.
The key role of IT asset management software is to give IT teams full visibility into their tech infrastructures. As a result, they can monitor, forecast, plan and manage to reduce costs, eliminate security risks and ensure compliance.
IT asset management software is also used to effectively manage each stage of an asset’s life cycle, from procurement through maintenance and to ultimate disposal.
SEE: How to reduce costs and risk with IT asset management systems (TechRepublic)
IT asset management software is a critical tool for virtually any organization that uses any kind of IT asset. This includes organizations across industries, from healthcare to manufacturing.
Asset management isn’t just for large IT teams or enterprise organizations with overly complex infrastructures either. Even SMBs with a simple tech stack should utilize asset management tools to scale effectively.
IT asset management software’s importance continues to result in growth year over year. According to recent data, the global IT asset management software market is expected to grow by $4.23 billion between 2022 and 2026.
There are numerous reasons for this growth. Although, two key factors stem from the organizational need to do more with less and the need to be in compliance with ever-evolving security requirements. IT asset management software delivers on both of these needs.
First, these tools are intelligent and offer a single-pane-of-glass view of all assets, boosting efficiency by reducing the number of tools required for asset management. Second, IT asset management software simplifies compliance. For example, keeping track of IT assets enables organizations to more closely monitor for security risks that may endanger consumers.
SEE: How to choose the right data privacy software for your business (TechRepublic)
Asset visibility is a continual security challenge for organizations of all sizes. This is exacerbated by the constant expansion of the attack surface due to the growth of the cloud, IoT and other tools.
To keep company data protected, organizations must know what assets they own and how they’re being used at all times. IT asset management software enables real-time visibility for all assets, in one centralized location.
IT asset management can lower the costs associated with IT procurement, maintenance and future expansion.
For example, by understanding what assets an organization currently has deployed, IT teams can avoid purchasing assets the organization doesn’t need and decommission devices no longer required.
Plus, IT teams can effectively track and manage their software platforms, eliminating license overspend, as well as budget and plan for future asset needs.
IT teams must wade through the murky waters of multiple levels of compliance. They must ensure they’re in compliance with vendor contracts as well as with numerous external laws and regulations, such as those involving data privacy.
IT asset management software helps IT teams remain in compliance in many ways. For example, proper management ensures assets such as software and hardware are updated and secure. Plus, these tools can help IT teams “show their work” when it comes to compliance audits.
One of the key roles of any IT asset management software is real-time monitoring. Through monitoring, IT teams can be proactive, finding and mitigating security threats quickly. For example, teams can see if a device goes rogue or if a certain app hasn’t been upgraded to its latest version.
In addition, IT asset management ensures critical devices are decommissioned properly when employees leave or when devices must be replaced.
The more devices an IT team is responsible for the more complex management will be. This is especially true when it comes to managing each unique stage of the asset life cycle. Asset management tools provide support for each stage, from deployment to retirement.
For example, asset management tools can ensure software is deployed properly and that hardware is working as it should. These tools can also ensure assets are being updated and maintained on a regular basis. Finally, asset management software can help teams understand when assets should be replaced.
While asset tracking and asset management are often used interchangeably, asset tracking is slightly different. Asset tracking typically refers to the tracking of physical assets such as computers and IoT devices using barcodes, RFID tags or GPS. However, many ITAM platforms will also enable IT teams to track software assets too.
Real-time monitoring of assets ensures IT teams can keep a constant eye on all physical and digital assets. For example, IT teams can see which assets are in need of repair and which ones are being utilized or underutilized at any given moment.
Real-time monitoring can also help teams mitigate potential security risks fast, and teams can use monitoring tools to track lost or stolen devices to aid in the recovery process.
Real-time monitoring is also a critical feature for today’s remote workforce. Some IT asset management platforms offer mobile capabilities, so teams can stay connected to their assets from anywhere.
Managing an asset’s life cycle from deployment to retirement is a complicated process. However, it’s critical for ensuring assets are properly updated and maintained. It also helps ensure devices that are no longer in use are decommissioned to protect business data.
IT asset management software will include tools for every step of the asset life cycle. Better yet, life cycle management is automated by the software, removing the tedious process from the IT team’s plate.
IT asset management software has the ability to alert IT staff when issues occur within hardware or software. For example, IT staff can receive notifications when potential security threats are detected or when a computer goes offline. As a result, they can quickly mitigate threats and perform required repairs, saving serious downtime.
Due to the real-time monitoring and AI capabilities of modern platforms, IT staff can also receive notifications when the system detects issues that may lead to future maintenance needs. For example, they can be alerted if the system detects a computer that’s lagging or increased network traffic. As a result, IT teams can be proactive.
IT teams use a ton of tech tools each day. IT asset management software integrates with these tools seamlessly to provide a centralized view of all assets, both physical and digital. As such, the asset management software chosen should integrate with the company’s IT help desk or ticketing software.
While many IT asset management platforms include robust, real-time analytics dashboards, reports are still important for various tasks, from taking inventory to budgeting. IT asset management platforms typically come with built-in reports teams can pull that dive into everything from asset utilization to employee productivity.
In addition, many of these tools will offer report customization tools, so IT teams can create reports using the information they need.
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Best IT asset management software of 2022
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If you’re looking for the best project management software for startups, rest assured there are several options designed to help you keep track of your team and company growth. Here’s our list of the most popular apps to help small businesses succeed.
Startups involve a lot of trial and error. Things can get chaotic, and managing the mess can be challenging. Finding the best project management software for startups is essential for building a streamlined structure that enables smoother operations and collaborations.
This article is for people trying to find the best project management software for their needs. It breaks down the crucial features that must be present in any project management solution and offers you the insights you need to make a smart decision. If you’re low on time, monday.com is our top choice, but there are plenty of good options included here.
Project managers are essential to the growth of startups. They help ensure that the business embarks on projects that align with its goals, timelines are on schedule and there is effective communication within the teams.
Project planning involves identifying stakeholder needs, outlining goals, defining the responsibilities of teammates and scheduling milestones for its effective implementation. Project management software can help achieve this.
The most popular project management software types are resource management software, timeline management software, scheduling software and team collaboration software.
Depending on your needs, the right project management tools for your organization may vary. Most startup companies will have to consider how much money they’re willing to spend.
If you’re running a bootstrapped business, project management software may be a significant expense that has to be justified in terms of future benefits. On the other hand, if your business is well-funded, you can invest in tools with more advanced features. 
The next thing to consider is communication and collaboration features. These may include group chat to keep everyone in touch when working remotely, or the ability to create multiple tasks for colleagues at once. Other features include integrations with popular third-party apps, like Gmail and Google Drive.
It’s also important to consider whether the software is scalable enough to grow with your business. A non-scalable software wouldn’t accommodate more features to keep up with multi-project management or provide collaboration tools for larger teams. A good idea is to think about whether you’ll use the program for just one campaign, or if it will become the backbone of all of your future project management needs.
monday.com tops our list for startups due to its varied feature set and flexibility, making it adaptable to any purpose. ClickUp is a close second, but its interface sometimes suffers glitches. 
Asana, Freedcamp, Trello, Wrike, TeamGantt, Basecamp and Jira offer their own specific advantages with their unique methodologies ranging from kanban and Gantt charts to a communication-first approach. nTask comes in last, offering affordable plans with limited views on the free plan.
Now that you know what to look for in project management software for startups, here are our top recommendations that you can start using today. 
More details about monday.com:
Pros:
Cons:
monday.com is a collaborative platform for startups that focuses on business operations, team management and project visibility. It can be used by businesses of any kind and size, from small startups to large enterprises, making it a very scalable solution.
The platform comes packed with features that make it a more holistic solution, including task management, document collaboration, automations and shared timelines. Despite being feature-packed, monday.com is still an easy-to-use project management software.
Running a successful startup requires a lot of planning and visualizing of future processes. monday.com makes it easy to map your company’s workflow from ideation to delivery, so every team member has a clear vision of where they fit. With all these features on one platform, you don’t need another system for communication or project management.
Smaller startups, as well as larger ones with a distributed workforce, can use monday.com to streamline workflow, increase transparency and collaboration and improve productivity. It’s easy to see why. 
The monday.com platform allows projects to be organized around tasks, documentation and conversations, rather than siloing them into separate groups, allowing for more fluid communication between departments. It goes beyond project management to provide a unified workspace across functions. 
With monday.com’s free plan, you get just two seats, a limit of 1,000 tasks and access to the list view and kanban board. This won’t be sufficient for most startups, so it’s best to opt for the paid plans. These provide more project views, access to automation features and unlimited tasks.
You can give the 14-day trial a chance before committing to the paid plans. Check out our monday.com review.  
More details about ClickUp:
Pros:
Cons:
ClickUp is a feature-rich, reasonably priced project management tool. Startups can make good use of its task management views, which include Gantt charts, calendars and a space for notes.
There is also a mind map integration, a feature not found in many other project management solutions. You can produce mind maps, then transform them into tasks and give the tasks to the team as kanban boards. This helps visualize work and maximize efficiency.
Typically, project management services provide a limited number of views and features in their free edition, hiding the rest behind a paywall. ClickUp provides a complete task-tracking suite, only restricting how often you may use it, with a cap of 100 uses on the free plan.
You can set up recurring tasks, create an unlimited number of projects and use all of its reporting tools, enabling better supervision of weekly and monthly targets.
The only distinction of the paid plans is users get extra storage space and sophisticated security features. While the free plan has a lot to offer, the paid and advanced plans are also highly affordable. If you’re still feeling skeptical, you can try a 30-day free trial to test ClickUp’s advanced features or read our ClickUp review. 
More details about Asana:
Pros:
Cons:
If you are looking for a free plan that allows you to manage projects for a small team, Asana might be the right choice for you. Even small teams can take advantage of the functionalities Asana provides, which include unlimited tasks, projects and messages; list, board and calendar views; and 100 free integrations with apps of your choice. 
It offers features for long-term and short-term tasks. The workload view has a self-generating progress meter that lets you quickly identify who is doing what and determine whether employees are working too much or too little.
The software also offers dashboards for a simplified overview, project reports and customizable charts, as well as more user management and timeline options.
Task automation allows you to set rules for your tasks, so actions are automatically taken when something happens (such as a team member commenting on a post). When your automations work, you can get updates through email or mobile notifications. The third-party integrations are useful, too.
With just one click, you can connect your project management tool to Gmail, Salesforce, Dropbox and more.
While Asana provides a solid set of project management features in the free plan, some of its more useful features are locked behind its paid plans. However, the free plan does provide up to 15 users with a calendar view and unlimited tasks and projects. You can start with a 30-day free trial to test the paid plans.
Check out our Asana review to learn more.
More details about Freedcamp:
Pros:
Cons:
Freedcamp is another great, affordable option, offering a range of plans focusing on workflow automation. It is user-friendly and lets you view and manage multiple projects easily through its “projects” tab. 
Freedcamp also makes sure you can access your data at any time with its sync feature, which means you can work on projects across multiple devices. Freedcamp offers a free plan with no user cap, making it an ideal choice for startups with large teams.
However, if you want features like Gantt charts, you need to opt for a Business plan. While this plan provides top project management features, it’s still just good. Competitors like TeamGantt take a way better approach.
Freedcamp’s calendar integrates a timeline feature with the standard calendar that most project management applications offer. You may get an excellent overview of how your week or month is going with this handy tool. If you want to opt for the paid plans and use Google Workspace extensively, you can also leverage the Google Calendar Sync. 
In addition to these, Freedcamp provides a number of free integrations and add-ons, like basic password managers, time-tracking tools for projects, milestone setting tools and tools for integrating communications.
Freedcamp offers free and cheap paid plans. One huge plus in the free plan is unlimited users, projects and storage. The more advanced paid plans add features like the wiki, issue tracker and reports. The 14-day free trial lets you try them. You can sneak a peek at our Freedcamp review to get a deeper insight.
More details about Trello:
Pros:
Cons:
Trello offers you the best kanban tool you can get from a project management software with a free plan. The platform lets you manage simple and complex tasks and acts as a hub for project management strategies. It offers a clean visual overview of projects, organized through a board and card-based approach that can help you monitor their progress at a glance.
Each card on Trello’s kanban board represents a job and may be customized with a variety of items. You can add as many columns as you like. That combined with a seamless user experience makes this a tool any startup can pick up immediately.
Trello is user-friendly and straightforward, and the free plan is sufficient for tiny teams that can get by with kanban-based graphic styles. It allows for unlimited integrations and power-ups, allowing you to use it as the central hub for all of your project management techniques.
However, without any of these power-ups enabled, Trello’s usefulness is limited to personal to-do lists and collaborating on projects within an organization. Its core strengths lie in its integrations. 
Trello’s free plan is a good option for startups to kick off with, as it offers unlimited users and integrations. However, there’s a limit of 10 boards per workspace and a 10MB file size upload limit, so those who want to scale should opt for the paid plans.
Read more in this Trello review. 
More details about Wrike:
Pros:
Cons:
Wrike is an easy-to-use, reasonably priced project management solution that does a fantastic job of combining several essential skills, making it a solid choice for both small- and large-scale teams. It accomplishes this using built-in integrations and its own add-ons (which other applications, like Trello, don’t offer).
The add-ons for Wrike may be added one at a time, but there are also bundles aimed at specific user categories, like marketing teams and professional services (it’s one of the best project management tools for marketing). While it offers a good free plan, features like two-factor authentication are hidden behind its highest-tier paywall.
Other features like calendar and Gantt charts — which are even in the free plans offered by its competitors — are a paid feature with Wrike.
Wrike is a full-suite project management software for a range of use cases, like task management, file management and reporting. If you’re willing to pay, you can even make use of resource scheduling and time tracking. 
The way it works is simple: The user inputs data in the preferred format and Wrike takes care of organizing everything. Custom-made templates are also available to account admins on the paid plans for creating workflows or setting up automation features.
You get access to the interactive board, spreadsheet views and live activity feeds with Wrike’s free plan. You’ll need to subscribe to one of its paid plans if you want to use the interactive Gantt charts. To find out more, read our Wrike review.
More details about TeamGantt:
Pros:
Cons:
As the name suggests, TeamGantt focuses on Gantt charts and is one of the best Gantt tools in the market. If Gantt charts are your go-to tool for project management, you can use this software to create them for free.
Due to its niche focus, TeamGantt offers few other features compared to competitors. It only offers kanban boards as an alternative view, available on the paid plan. Its limited views means it might lack the scope some startup teams might be looking for.
However, TeamGantt does integrate with Trello, Dropbox and Slack, expanding its functionality to some extent through these third-party apps. 
TeamGantt has an intuitive system that lets you reorganize your projects with the click of a button, so you can adapt to new or unexpected changes when they happen. Its drag-and-drop function gives you the power to reorder tasks, view task dependencies and change milestones within your Gantt charts.
With other project management tools, it’s not as easy and subtask creation is required. Hence, the user-friendly interface makes TeamGantt optimal for first-time Gantt chart users.
You must choose one of the subscription plans if you want to use more than one Gantt chart. With the free plan, you are only allowed one project manager and two collaborators, and your project can only have up to 60 tasks at a given time.
Read our TeamGantt review to learn more.
More details about Basecamp:
Pros:
Cons:
Basecamp is more of a communication app than a project management tool. This means it helps improve collaboration, and in turn, keeps project management in check for managers. As a communication-focused tool, Basecamp lets you manage and track each team member’s day with exceptional two-way communication.
However, it lacks project management-specific features, like the kanban boards and Gantt charts Asana and monday.com offer. Basecamp scales communication effectively and makes it simple to monitor daily tasks and schedules.
It offers communication tools, such as message boards and to-dos, that teams can use to discuss issues and track progress.
Basecamp can segment your work into projects and break down project elements into facets like participants, conversations, documents, files, tasks, crucial dates and more. Each element can integrate with features like “schedule” (a calendar similar to any other) and “campfire” (a message board for casual conversation available on Basecamp 3).
Basecamp offers an “automatic check-ins” feature. This automates the stand-up meetings used in agile workplaces or the brief emails a manager might send to check in with their team. Basecamp also enables you to run a fast poll rather than calling the team together for a few brief updates on the status of their work.
Basecamp offers two simple plans: one free and one paid. The free plan offers up to three projects, 20 users, and 1GB of storage space. The business plan is a one-time paid version with unlimited access to projects, users and clients. Check out our Basecamp review for more details.
More details about Jira:
Pros:
Cons:
Jira, Atlassian’s issue-management tool, has a lot to offer a tech startup or software development team. Small teams can use it to track progress on their projects and communicate with each other. Jira is most effective for software development teams who actively use Agile methodology. However, it has limited flexibility beyond this. 
You can add fields to your “issues” (tasks) to capture everything from the status of your projects (in progress, waiting for someone else’s input, etc.) to what information you need for certain tasks (file attachments, notes from meetings and more). 
Thanks to the vast number of paid integrations that it supports on the Atlassian Marketplace — such as Slack, Gantt charts, extra views, a bug-tracking tool and other useful task management apps — Jira can still be adopted for startups outside the tech space that also use agile practices.
It’s worth noting, though, that some of these integrations require payment.
Jira is easy to navigate, with a simple user interface and an extensive knowledgebase that has tutorials for new users. You can move quickly between screens thanks to its uncomplicated layout. Admittedly, it comes with a learning curve due to the unique technical jargon it uses.
You can check out Jira’s glossary to familiarize yourself. Once you get the hang of it, it’s one of the simplest tools out there. 
Jira is free if all you want to do is keep track of your most recent project tasks. However, paid plans offer some useful bonuses, such as advanced dependency management, global and multi-project automations and unlimited storage.
For small software development teams looking for an Agile-focused solution, Jira is a fantastic option, but be aware that the number of users you can have on this plan is capped at 10. Read our Jira review for more.
More details about nTask:
Pros:
Cons:
nTask is one of the cheapest project management software solutions and offers the most value for money. It focuses on the main features of task management and delivers a user-friendly experience. You can assign tasks, track your task status and more.
Due to its solid foundation and flexible pricing, nTask is a solid choice for startups. It also offers project management views like Gantt charts, time tracking, kanban boards and more. It’s also worth noting that except for the time tracking feature, the others are not available in the free plan. 
nTask combines the main elements of project management software with task management features. You can visualize tasks in relation to one another using the Gantt chart, which also has special capabilities like critical path analysis and risk assessment.
nTask also makes it easier to assign urgent tasks to users and manage task history, all in one place. 
nTask offers a free plan called the Basic Plan which is free forever for up to 5 users, offering unlimited tasks and access to meetings. The difference between the paid plans is their storage limits, with Premium offering 5GB and Business at 10GB. You can give the seven-day free trial a shot before signing up for a paid plan.
Read more about nTask in our nTask review.
Most startups have stricter budgets and a finance-conscious approach. This makes free project management software like monday.com, ClickUp, Asana and Freedcamp a good match. Read our ClickUp vs Asana comparison guide to learn how the project management tools compare.  
However, the other options in this post are also worth considering. It’s important you first define your needs and determine what you expect. The best software for you must fit within your budget and cover all the essentials for your startup’s day-to-day needs.
What is your favorite project management software for small business? Are you using one that isn’t covered in this list, but you feel deserves a shout-out? Let us know in the comments. As always, thank you for reading. 

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