About Centage

2018 Dresner Wisdom of Crowds Report Sets Centage as an Experience and Credibility Leader for SMEs

November 1, 2018 By Centage

Dresner Advisory Services released their 2018 Small and Mid-Sized Enterprise (SME) Planning Market Study last week, examining the enterprise planning processes and needs of these organizations, and how they differ from larger enterprises. The study also evaluates planning software used by SMEs, with the report recognizing Centage’s Maestro Suite as a leader in the Experience and Credibility categories.

The study reports a significant increase in adoption of planning software in the SME space. In 2017, Dresner found that only 24 percent of small and mid-sized enterprises were leveraging planning software. The 2018 survey, on the other hand, found that number had jumped to 60 percent, with 68 percent of mid-sized organizations already having adopted the technology.

But adoption has far outpaced the projections from Dresner’s 2017 survey. This means that SMEs are choosing and implementing planning software outside of their normal planning cadence. Compelling offers and value propositions from vendors in the space, like Centage, combined with short-term needs, seem to be swaying enterprises to move beyond spreadsheets.

Understanding the position and adoption of planning software for SMEs is important, as the needs of these organizations can differ from larger enterprises. The report identifies certain areas, like strategic planning and rolling forecasts to be of similar importance between small, medium and large organizations.

Other areas, like cash-flow forecasting, proved more important to smaller enterprises. SMEs should evaluate planning software to ensure it is fully featured as well as easy to manage and deploy, while small organizations should take additional care to find solutions that are well suited to their needs, involving key business leaders as appropriate.

Deployment options differed between organization size, as well. In particular, small organizations rate cloud hosted solutions over other solutions, while larger organizations lean toward fully featured solutions that are part of a complete suite of software. The difference in preference was notable even between small and mid-sized companies – 24 percent of small organizations view SaaS applications as critical, with only 12 percent of mid-sized and large organizations considering cloud-based delivery as important. When evaluating planning software, enterprises of all sizes should define their optimal delivery model prior to evaluating vendors.

The report also provides vendor rankings based on real-world usage by customers. Vendors were divided into quadrants in the areas of both customer experience and credibility. Those located in the upper-right quadrant of the results were deemed industry leaders.

Centage ranked in the leader’s quadrant for both criteria. With features identified as important to both mid-sized organizations and small enterprises, Centage outranked heavy hitters like SAP and Microsoft in both categories. Centage’s commitment to customer service was reflected in the ratings, putting them ahead of all other solutions. In credibility, Centage and the Maestro Suite scored the highest in combined value and customer confidence.

Planning and forecasting are as important to smaller and mid-sized organizations as they are to large enterprises. It’s clear, however, that the needs of these companies differ from their larger counterparts, making a one-size-fits-all solution difficult to find. There are clear winners in the space, though, for those SMEs looking for the right tool that provides excellent value and service.

Click here to view the full report.

Small to mid-market organizations rely on Centage Corporation’s Maestro Suite, which includes Budget Maestro™ to help them keep track of and manage their cash flow. Budget Maestro improves the efficiency and effectiveness of business budgeting and planning, financial forecasting, financial consolidation, and reporting processes. For more information, take a tour of Budget Maestro, contact Centage, or call 800-366-5111 now.

Meet John Murdock, Centage’s New CEO

October 2, 2018 By Centage

It’s been an exciting year at Centage, made more exciting thanks to the news regarding our very own John Murdock. Centage announced on September 25, 2018, the appointment of Mr. Murdock to the role of CEO. Having served as Centage’s CRO and EVP for several years, Mr. Murdock is already familiar with and dedicated to Centage, its products and especially its customers. He’s now poised to lead the company into a new chapter and set us on a path as a collaborative and customer-first leader in the FP&A space.

We spent some time with Mr. Murdock to hear, first hand, the perspective that he is bringing to the company as he steps into this important role.

Q: What is your vision for the company?

Mr. Murdock: At a high level, I see this as a brand-new chapter for the company. Not only because I’m assuming the CEO position, but also because of the evolution that is happening inside of Centage as well as in the market. The onslaught of cloud technology, big data, AI, etc. is pushing the pace of business forward, and I see how the expectations of our customers are changing.

This gets into how I lead – I want everyone in Centage to have a voice and play a part in the vision for the company’s future. We have a lot of great people who interact with customers daily. Collaboration is a core principle of mine.

What that means is I want the vision to be shared and for it to be something that everyone is passionate about, whether they’re in support, consulting, sales & marketing, finance or on any other team. We’re still in the planning stages, but we’ll be working across departments to develop a mission and plan that we all can share.

Q: What is your executive style? What’s important to you?

Mr. Murdock: As I mentioned before, collaboration is a key element to my style. I also want our employees to love working at Centage, both for the people and for the work that we’re doing for our customers.

It’s a lofty goal, and I think that collaboration is a big part of loving what you do and where you work. To accomplish those things, we need to foster open communication and break down silos. Those elements also speak to my management style, but they are part of those larger goals of collaboration and being an employer of choice, too.

Q: You’re also very interested in the importance of forward-looking technology, like AI, and addressing the pace of business today. How do those fit into your strategic plans?

Mr. Murdock: I spend a lot of time thinking what things will look like in 5 or 10 years, not just company-wise, but in the world. Maybe that comes from having 2 kids and seeing how they experience and interact with the world and how it can completely change in as little as a few years. I also like to read about technology and different trends. I’m really into science fiction, so maybe that’s where a lot of it comes from.

But it also comes from watching how we interact with customers. What customers expect from us as well as from other companies (even what I expect from businesses I purchase from) has changed. I can’t believe the evolution that has occurred in the last 20 years of my career, and the last 5 have been exceptionally rapid.

This makes me wonder where business planning and budgeting, financial forecasting, data analysis and corporate performance management is going to be in the next 5 years? And how do we position ourselves to lead that? Knowing that there are trends like AI and blockchain that will impact finance and our customers day to day, it’s obviously something we must be attuned to, with the view of potentially integrating these with our solutions.

From there, we can start to look at our processes: how do we operate? How do we interact with customers? How do we sell, market and support our clients? That’s all changing too. As CRO, I spearheaded all sales and marketing efforts, and I saw how things changed and how the lines are starting to blur. Breaking down those silos and instituting a priority on collaboration between departments is going to be vital to staying agile during these changing times.

Q: What is the impact of having been in sales on your vision and style?

Mr. Murdock: Over the past 3 years, I have spent a lot of time talking to CFOs, controllers, and financial teams from hundreds of companies. I’ve recognized the patterns of what they’re asking for. I’ve been listening.

The benefit of having a CEO with deep sales experience is this: You have to deeply know your customers. That’s only going to get more important. The companies that will win out in the next 5 and 10 years are those who know their customers best, those that anticipate their customers’ needs and those that listen and act to meet their customers’ expectations.

Q: What about leadership brings you the most joy?

Mr. Murdock: I really take a lot of pride in helping people develop their careers. I’m lucky that I had great support along the way in my career – good mentors who opened doors for me. I’m looking forward to doing the same for people in Centage. That is what I find most rewarding.

As I’ve said, I spend a lot of time thinking where the market is going to be, where technology is going to be, and where the company is going to be. Thinking about where the individuals in our company are going to be is a natural extension of that.

Even if they’re not a Centage anymore, if team members go on to do really great things, I find that rewarding.

Q: What do you like to do when not in the office?

Mr. Murdock: I have two daughters, ten and thirteen. Spending time with them is my number one priority. I also enjoy listening to podcasts and, as previously mentioned, I’m a big science fiction fan. I also enjoy competing in triathlons and staying in shape.

Small to mid-market organizations rely on Centage Corporation’s Maestro Suite, which includes Budget Maestro™ to help them keep track of and manage their cash flow. Budget Maestro improves the efficiency and effectiveness of business budgeting and planning, financial forecasting, financial consolidation and reporting processes. For more information, take a tour of Budget Maestro, contact Centage, or call 800-366-5111 now.

John Murdock to Lead Centage as New CEO

September 25, 2018 By Centage

For the better part of this year, Centage has been led by our interim CEO, Ken Marshall. One of Ken’s charges was to find a permanent replacement, someone who would bring a deep desire to understand the problems of our customers while grasping the importance of the myriad of technical innovations that become part of the business world every day.

Centage is pleased to announce that our own CRO and executive vice president, John Murdock, has been promoted into the role of chief executive officer. Assuming the role from Mr. Marshall, Mr. Murdock will bring his desire to create the best experience for Centage customers to the whole of the organization through collaboration, transparency and adoption of the newest technologies.

John understands that Centage is more than just a software company. It’s a company that helps our customers plan and grow their businesses, and to do that customers need the right technology at their fingertips and the Centage team aligned around their success. He’s spent countless hours talking to users, CFOs and finance teams to truly understand their needs. These discussions have defined how he looks to move Centage forward in the coming years – through a customer-centric approach that adopts the latest technologies.

To achieve this goal, John plans on breaking down silos and encouraging collaboration across the organization. By blurring the lines between departments and giving everyone a holistic view of the company, Centage aims for a culture of transparency that permeates into the overall company mission of providing the best customer experience along with the most effective budgeting and planning product.

Part of creating that breakthrough product that addresses the pain points of finance teams is adopting the accelerating wave of technology innovation in the space. John sees embracing that wave as the key to making a difference for our customers. “The pace of change is phenomenal,” he explains. “Any company that seeks to be relevant and add value to their customers must lean in and innovate. It’s the only way companies like Centage can have an impact that’s bigger than selling software.”

Mr. Marshall, who will stay on as the Executive Chairman of the Board of Directors, notes that Centage is being put into great hands. “This feels like a very natural step to appoint John to the role of CEO. He’s been instrumental in the company’s strategy, growth, and execution success over the past few years. He is highly respected by our employees, board, and brings a customer-centric approach to his leadership style. John has been a ‘boots on the ground’ leader engaging with hundreds of CFOs and finance teams over the years to discuss budgeting, forecasting, analytics, and how, Centage can transform and simplify their businesses. He is the perfect choice to help lead Centage to the next level of technology innovation and focus on its customers,” explained Ken Marshall.

Small to mid-market organizations rely on Centage Corporation’s Maestro Suite, which includes Budget Maestro™ to help them keep track of and manage their cash flow. Budget Maestro improves the efficiency and effectiveness of business budgeting and planning, financial forecasting, financial consolidation and reporting processes. For more information, take a tour of Budget Maestro, contact Centage, or call 800-366-5111 now.

Centage’s New eBook is Here to Help You Transition Away from Spreadsheets

September 18, 2018 By Centage

It’s staggering how many companies still rely on spreadsheets to create and manage their organization’s planning and budgeting process. While the use of spreadsheets is on decline, according to a 2018 report by the Financial Executives Research Foundation (FERF) and Robert Half, there are still 63 percent of companies that acknowledge their continued use of the software for these important tasks.

This drop-in usage signals two things for organizations still relying on spreadsheets – specialized budgeting and planning software is more accessible than ever before, and if your competitors haven’t already switched from spreadsheets, they will be doing so soon.

In this new eBook, Transitioning from Spreadsheets to Specialized Budgeting & Planning Software, Centage provides a practical roadmap away from cumbersome, error-prone spreadsheets to a budgeting and planning solution that enables more collaboration, control, accuracy and compliance.

In the eBook, Centage outlines the 10 warning signs that your business has outgrown spreadsheets and explores how to build an accurate, driver-based budget model. You’ll also take away a practical road map for supporting corporate decision-making with automatically generated balance sheet and cash flow forecasts, self-serve analytics and information-rich visual dashboards. Learn the first steps toward best practice budgeting and create your own vendor checklist to ensure that you know exactly what to look for in a budgeting and planning software provider.

If you’re ready to take the next step, or are just interested in learning more about how to modernizing your budgeting and planning process, download Centage’s free eBook, Transitioning from Spreadsheets to Specialized Budgeting & Planning software. With this practical guide you’ll set yourself on the right path to a smooth transition and enhanced organizational operations and growth.

Small to mid-market organizations rely on Centage Corporation’s Maestro Suite, which includes Budget Maestro™ to help them keep track of and manage their cash flow. Budget Maestro improves the efficiency and effectiveness of business budgeting and planning, financial forecasting, financial consolidation and reporting processes. For more information, take a tour of Budget Maestro, contact Centage, or call 800-366-5111 now.

Meet the Maestros: One on One with Centage CRO John Murdock

May 22, 2018 By Centage

Welcome to Centage’s blog series, Meet the Maestros. In these posts, we give you the opportunity to get to know some of the team at Centage who are working to make budgeting and forecasting easier and more accurate for companies of every size.

In this issue, we’ve gathered insights from Centage’s CRO, John Murdock.

Q: What impact do you think blockchain and crypto will have on the industry?

A: It’s still early when it comes to talking about blockchain and crypto, John points out. “We are early in the technology adoption curve and still plenty of speculation, but it’s clear they are disruptive technologies, and will no doubt reshape finance, accounting, and commerce processes in a major way.” Combining blockchain with other up and coming technologies, like AI, will color the future for companies, in both good and bad ways. “Add AI to the conversation and now you have a set of technologies that will determine the industry winners and losers of the future.”

Q: How has the digital economy changed business?

A: “Customers are in the driver seat, you need to embrace digital and surround customers with the support systems they need to succeed. Digital has empowered customers with more choices, more information, and an expectation for exceptional service. This is a great thing for businesses like Centage that are truly customer-centric, innovative, and can respond quickly to changing demands of the market, opportunities, or threats,” explains John. Understanding how to exceed customer expectations and staying one step ahead of them can be a challenge. As John tells us, “The companies who will win are those that create listening posts to collect rich input from customers and the market, adopt and master analytics, planning, and operational processes to maximize resources that can be aligned with customer satisfaction, retention and growth.”

Q: What challenges do SMBs face when it comes to budgeting, forecasting, and reporting that they didn’t face 10 years ago?

A: “SMBs face a lot of the same challenges of larger companies, but often lack the people and resources large companies can throw at solving problems. But technology and information availability have leveled the playing field in many ways,” John states. “What used to require significant resources has been streamlined with automation and technologies in the Cloud. I’d urge SMBs to revisit how they can streamline these processes and give time back to the operation.”

Q: How does financial goal setting affect an organization?

A: John’s answer to this question is straightforward: “A business is not a business for long without a strong financial plan.” It’s impossible to do the things a business must do – like make payroll, re-invest in the organization or deliver on the company’s promise without a financial plan.” John further explains that goals and planning go hand in hand. “Every credit has a debit. A financial plan doesn’t exist without goals and clear assumptions.” It’s what separates the best companies from those just going with the flow. “The best and most leading-edge companies use a financial plan to drive the health of their business,” John says, “and to collaborate cross-functionally, to adjust assumptions and expectations as the year progresses, often on a weekly or sometimes daily basis in order to optimize performance of the top line or bottom line.”

With experts like John Murdock as part of our team, it’s no wonder that organizations of every size rely on Centage Corporation’s Maestro Suite of solutions which includes Budget Maestro™ to help them keep track of and manage their cash flow. Budget Maestro improves the efficiency and effectiveness of business budgeting and planning, financial forecasting, financial consolidation and reporting processes. For more information, take a tour of Budget Maestro, contact Centage, or call 800-366-5111 now.

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