Centage Corporation Acquires Business Intelligence Company, BI-Metrix, to Extend Value of Budget Maestro
Tool provides simple end user financial analytics and custom reporting capabilities to fuel strategic budgeting and forecasting for Budget Maestro users and most major General Ledger systems
Natick, MA – October 9, 2014 – Centage ™ Corporation, a leading provider of budgeting and forecasting software (Budget Maestro™) for small and medium sized businesses, today announced the acquisition of BI-Metrix, Inc., makers of BI-Analyzer, the business analytics tool that powers Analytics Maestro. A dynamic financial reporting tool, Analytics Maestro extracts key data from Budget Maestro, including all General Ledger data, and offers users a clear graphic representation of gaps between budget and actual data to help drive better decision making and increased accountability throughout the organization. Through this acquisition, Centage augments its business intelligence capabilities and expertise, while adding engineering resources to better serve the needs of its customers.
Customers consistently note Analytics Maestro’s ease of use and dynamic reporting capabilities as powerful market differentiators. With a few simple clicks, end users, as opposed to IT professionals, can quickly and accurately define and modify reports on the financial health of the organization for key stakeholders. By reducing the time it takes to develop reports and communicate across the organization, Analytics Maestro is empowering financial professionals to take timely remedial actions and focus on more strategic initiatives.
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Recently announced, Centage secured $9.5 m in funding from TVC Capital & Northgate Capital to help support strategic acquisitions including today’s announcement, among other growth initiatives. As part of the acquisition, Centage gains key additions to its engineering team, bolstering the company’s business analytics and reporting expertise and resources including, Ram Hasson, who becomes VP and General Manager of the new Analytics Division. According to Hasson, “Together, Budget Maestro and BI Analyzer (now Analytics Maestro) deliver unmatched value for financial reporting and business intelligence. With an easy to use interface, Analytics Maestro allows companies to quickly tap into their data, drill-down to uncover issues or identify opportunities, and quickly create board level reports & charts. Customers and prospects are now also able to leverage Analytics Maestro for data beyond Budget Maestro such as their ERP, CRM, Inventory and Sales Analysis systems. As a result, financial leaders gain the insight needed, across the enterprise, to better manage the overall financial health of the organization.”
The company plans to integrate Analytics Maestro with additional back office data sources, increasing the value of end user reports and expanding financial information analysis and discovery. With this acquisition, new and existing customers now have an opportunity to consider adding stand-alone business intelligence and financial analytics metrics to their existing ERP and general ledger platforms.
“We are committed to providing tools that empower financial professionals to better understand and manage their company finances,” said Barry Clapp, President & CEO of Centage Corporation. “Seamless access to all financial data is critical to successfully evaluate the financial health of an organization. This is made possible through easy to use financial analytics. Today’s announcement underscores our commitment to enhancing our suite of budgeting and forecasting products to provide financial leaders access to on demand, accurate and timely financial data.”
For more information on Analytics Maestro, please visit:http://centage.com/Products/Financial-Dashboard-Reporting.asp.
Budget Maestro® by Centage is an easy-to-use, scalable, automated budgeting, planning, and forecasting application. It is designed for small to mid-market companies and automates many of the time-consuming and error-prone activities associated with using spreadsheets to generate accurate budgets and forecasts. It features built in financial and business logic that allow users to build and update their budgets and forecasts and never worry about formulas, functions, links or any custom programming. It is the only solution in the market that offers synchronized P&L, Balance Sheet, and Cash Flow reporting that generate automatically and seamlessly update. Budget Maestro serves more than 9,000 users worldwide. For more information follow us on Twitter @Centage or visit our blog for the latest insights on budgeting and forecasting strategies.
Centage and Budget Maestro are registered trademarks of Centage.