As 2017 comes to a close, we’d like to take a moment to reflect back on some of the pivotal moments of the past 12 months. We recognize that every success and gain we’ve achieved was a direct result of the trust our clients place in us and the hard work of the devoted team here at Centage.
Remembering Barry Clapp, CEO of Centage
We were saddened to announce the death of our friend, mentor, and leader, President and CEO Barry Clapp, this past November. Barry worked tirelessly over the last five years to transform Centage into the industry authority the company has become. His passion for the company, his commitment to excellence, his unequaled standards of integrity and character and his devotion to his customers, employees and investors was unique in this industry. As we embark on the year ahead, we are inspired by Barry’s passion and vision for the company and will continue to innovate and reach new heights as a result.
Welcoming Ken Marshall
Centage veteran Ken Marshall has been appointed as interim CEO. Introduced to Centage six years ago, Ken advised the company on a detailed roadmap for the business, putting Barry in place to execute that vision. We are so appreciative of Mr. Marshall for stepping into this role, and we look forward to continuing our growth plan with him at the helm.
With over 9,000 users, Centage continues its upward trajectory, beginning with our third consecutive year of double-digit revenue growth.
To support that growth, we’ve expanded our ranks, and now have over 100 employees. We’ve also doubled our office space.
In response to customer demand, we held our first-ever User Conference this past May in Cambridge, MA, an event that was attended by over 100 people. Industry luminaries and senior financial professionals shared best practices and discussed the future of financial analysis and reporting. Read more here.
We also established the Centage Advisory Council (CAC), so that customers can have direct input into the Budget Maestro roadmap. The Council consists of eight members currently, and growing.
Centage continues to be recognized for its outstanding growth and innovation. A few of the awards we received in 2017 include:
- Named to Inc. 5000 – Annual List of America’s Fastest Growing Private Companies – For Second Consecutive Year
- Golden Bridge Awards:
- Gold Status: Fastest Growing Company;
- Silver Status Best Deployment for customer Napa Recycling
- Stevie Awards
- BPM Partners Top Performance Management Vendor – For Fourth Consecutive Year
- Named Finalist at the 2017 Ventana Research Digital Leadership Awards
2017 also saw a number innovations in our flagship product. In July we released Budget Maestro 9.0, a completely new version of our budgeting and planning software that redefines budgeting technology by automating the creation and maintenance of budget models by deploying built-in financial intelligence and rules to self-program and self-maintain them. As a result, financial professionals can define and create complete and accurate budget models in a matter of days, and adjust the model structure nearly instantaneously.
The new version was developed utilizing the latest leading-edge technologies that make the system flexible and easy to use while maintaining all the underlying features and functionality that have made Budget Maestro such a highly competitive product.
On the channel front, we partnered Tribridge, a technology company specializing in business applications and cloud solutions, to expand reach of cloud-based financial management solutions.
Budgeting Software Sector
At the end of October, Gartner released a report that essentially walked back from corporate performance management or CPM, a concept the research group coined back in 2001. This was a particularly gratifying development for us, because we have long felt that the CPM approach was too costly and inflexible for the mid-size market.
Finally, in April we conducted our second Annual Survey to uncover emerging trends and key concerns among financial professionals. This survey found that Cash Flow Budgeting was top of mind.
A Look Ahead
We look forward to working hand-in-hand with our clients. We believe the next frontier will be fast, robust and easy forecasting. Look for continued innovation from us.
Centage Corporation’s Budget Maestro™ provides businesses of every description with a family of Smart Budget software solutions to improve the efficiency and effectiveness of their 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.