Natick, MA – June 1, 2017 – Centage Corporation, a leading provider of cloud-based budgeting and forecasting software for small and medium-sized businesses (SMBs), is demonstrating a more strategic approach to reforecasting. By utilizing new Smart Budgets technology, organizations can reforecast throughout the year, as needed, based on changing conditions – even if it involves major adjustments to their budget model. Centage’s Budget Maestro is the first solution to fully support the emerging Smart Budgets trend that is transforming how finance leaders budget, forecast, analyze and report.
“In today’s dynamic business environment, it’s critical to be agile and quickly respond to changing market demands,” said Barry Clapp, president and chief executive officer of Centage Corporation. “Spreadsheets and traditional budgeting tools are unable to keep pace. Companies do not adequately run forecast scenarios (involving all constituents) because it is just too complex and error-prone. But a Smart Budget’s built-in accounting rules and business logic means reforecasting to account for missed assumptions, market changes and other business fluctuations is simple. Without any need to reprogram, the Smart Budget model automatically adjusts to changes, giving “instantaneous” access to any number of alternative scenarios.”
When the budgeting and forecasting process can take weeks and even months to prepare, the numbers can already be out of date by the time the final product is presented. By contrast, Smart Budgets can be built in days, changed in minutes, and will continually adjust projected revenues, expenses and the anticipated bottom line, based on incoming actuals. Rather than causing havoc, reforecasting becomes a natural extension of the budget. “Smart Budgets models program themselves, automatically, eliminating human error and labor intensity,” says Clapp.
“Before Budget Maestro, it would take us two or three days in Excel to show the impact of adding a major new greenfield project or selling a part of an existing asset,” explains Gina Aspromonte, controller for M3 Midstream. “Now we can model changes in a matter of hours.”
For organizations working hard to enable forward-thinking and agile decision makers, reforecasting is a vital tool. Smart Budgets offer a real-time line of sight into the financial health of your company, speed decision making and deliver useful business information all year long.
To learn more about Smart Budgets, watch: new video.