Demand for Budgeting and Forecasting Solutions Drives Continued Growth for Centage Corporation and Budget Maestro
Company closes out 2014 with record revenue and customer growth
Natick, MA – February 19, 2015 – Centage ™ Corporation, a leading provider of budgeting and forecasting software (Budget Maestro™) for small and medium sized businesses, has completed another year of record growth, driven by the increased demand for the company’s strategic budgeting and forecasting solutions. With a sharp focus on the user experience and a commitment to delivering the insight financial leaders require to guide their organization’s most critical decisions, Centage continued to achieve greater than 20 percent revenue growth in 2014.
2014 Fast Facts:
- Signed nearly 200 new customers and added more than 1,300 users
- 120% growth in channel revenue year-over-year
- Secured $9.5 million in Series A funding led by TVC Capital andNorthgate Capital
- Acquired BI-Metrix, Inc., makers of BI-Analyzer, the business and financial analytics tool that powers Analytics Maestro
Known for its accuracy and built-in financial intelligence, 2014 also saw the introduction of a sleek new user interface (UI) for the flagship Budget Maestro product. Designed to improve the overall user experience and bolster productivity, Budget Maestro 7S gives users a more intuitive interface and additional customization options, allowing them to easily navigate and leverage the core product features that matter most in the budgeting process. To support the ongoing evolution of Budget Maestro and deliver the next set of advancements, Centage also hired former IBM Development Executive Piyush Jain as Vice President of Engineering. Jain brings more than two decades of budgeting, forecasting, and business intelligence commercial software development expertise to Centage.
Centage’s dedication to helping companies transform their budgeting and forecasting process was also recognized by the industry at large. Customer Hames Corporation, and their Chief Financial Officer (CFO) Maxwell Rule, was named a 2014 Technology Leadership Award winner by Ventana Research. Rule was honored for his organization’s ability to deliver exemplary business and financial performance via Budget Maestro. In addition, Centage was as recognized as a Core Vendor in the BPM Partners Pulse of Performance Management 2014 webcast, a ranking of the top vendors in budgeting, reporting, predictive analytics, Big Data, cloud, and mobile performance management.
“Financial professionals are continuing to looking for ways to improve the traditional budgeting processes and to adopt more flexible, automated solutions that can support the pace of their business. With Budget Maestro we enable them to not only automate the budgeting process, but to turn the budget into a strategic management tool for discovering underlying knowledge about the performance of the business,” said Barry Clapp, President & CEO, Centage Corporation. “In the year ahead our team will continue to extend the value of Budget Maestro providing customers’ entire management with a seamless view into all the actual and budget numbers needed to fully evaluate and act on their businesses.“
Budget Maestro® by Centage is an easy-to-use, scalable, cloud-based budgeting and forecasting solution that eliminates the time-consuming and error-prone activities associated with using spreadsheets. It is designed for small to mid-market companies to support a comprehensive Smart Budgets approach to corporate planning. Its built-in financial and business logic allows users to quickly create 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 automatically generated cash flow reporting. Budget Maestro serves more than 9,000 users worldwide. Visit us at Centage.com, follow us on Twitter, or visit the Centage Blog for the latest insights on budgeting and forecasting strategies.
Centage and Budget Maestro are registered trademarks of Centage.