Welcome to Centage’s new 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 business budgeting and financial forecasting easier and more accurate for companies of every size.
In this issue, we’ve gathered insights from Centage’s Executive Vice President and CFO, John Orlando.
Q: What is your philosophy when it comes to budgeting and forecasting for organizations?
A: “Create an aura of inclusion,” John says. Including other members of the team makes it easier to get everyone on board with budgets. “If the finance department creates 100% of the budget or forecast, department managers may feel that they had little to no input in the process, and therefore do not ‘own’ their budget or forecast.”
Q: How does your background influence and inform your views on your enterprise financial planning and where Centage can help?
A: John understands what others in finance are going through when trying to manage budgets and forecasting with spreadsheets. “Until coming to Centage 14 years ago, my budgeting and forecasting was 100% spreadsheet-based,” John shared. He described the result of the process as being accurate, but extremely time-consuming to update and iterate against. “I have come to learn through my experience at Centage that budget iterations can be produced more quickly and accurately, leaving you time to analyze the business as opposed to simply posting numbers to accounts.”
Q: What is the biggest trend you see in forecasting and budgeting that will have a positive impact on companies?
A: “Clearly, the biggest trend is rolling forecasting,” John said definitively.
Q: Where do you recommend other CFOs look to stay up to date on what’s happening with new budget and forecasting processes and technology?
A: John suggests turning to peers for impartial discussions and information about tools in the space. “I think that networking and users groups,” John explained, “offer the most unbiased opinions on technology in the budgeting and forecasting space.”
Q: How should an organization get started if they are looking to update their budget process?
A: “It is relatively easy to get started,” John states. And you’re likely to have a lot of help along the way. “The business budgeting and financial forecasting space is very competitive. If you have not been contacted by a vendor by now, you will be soon.” But if you’re still looking for assistance, it should be straightforward to find. “You can always reach out to G/L or CRM value-added resellers,” John advises. “They are up to date on all of the new technology in the marketplace.”
With experts like John Orlando 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.