NATICK, Mass., Jan. 13, 2015 (GLOBE NEWSWIRE) -- Centage ™ Corporation, a leading provider of budgeting and forecasting software (Budget Maestro™) for small and medium sized businesses, today announced ongoing customer adoption within the manufacturing industry. With built-in accounting rules and formula-free calculations, Budget Maestro offers financial leaders access to accurate, timely and actionable financial data to effectively manage the health of the organization. With more than 25% of its customer base in the manufacturing industry, Centage continues to hone the capabilities within Budget Maestro to address industry-specific needs and the traditional challenges of spreadsheet-based budgeting and forecasting.
While many manufacturers have automated certain business functions including inventory control, production control and employee time collection, there are many that continue to rely on spreadsheets for their annual budgets. As a result, financial leaders lack the insight needed to fuel strategic decision making and align the company operations with its goals. Budget Maestro addresses the challenges posed by spreadsheet-based budgeting and forecasting by leveraging easy-to-use what-if scenario capabilities to change assumptions and immediately see the impact on revenue, expenses and cash flow.
According to Scott Lazenby, Senior Financial Analyst at Helm, "By automating the process and centralizing all financial data, across departments, managers now have the insight necessary to effectively track costs and sales. In fact, within the first year of using Budget Maestro, the company realized a noticeable reduction in costs and increase in efficiencies throughout the budgeting and forecasting process."
With hundreds of manufacturing companies on its roster, including Loftness Specialized Equipment, StoneWay Concrete, and VFP, Inc., Centage Corporation understands the specific challenges facing financial leaders in this industry including budgeting for cost centers, factories, product lines, and/or customers. Unlike any other solution today, Budget Maestro allows financial leaders at manufacturing companies to:
• Produce variable revenue plans and forecasts
• Calculate and analyze production costs
• Use drivers to streamline planning
• Conduct product and customer profitability analysis
• Asses resource availability
• Streamline consolidation and reporting
"Spreadsheet based budgeting doesn't support strategic financial decision making. Our forward thinking customers in the manufacturing industry recognize the inherent power of automating an error ridden, time consuming process to more effectively budget and forecast," said Barry Clapp, President & CEO, Centage Corporation. "Financial leaders at manufacturing companies relying on Budget Maestro to manage the impact of material costs, production schedules, cash flow and personnel, are in a better position to stay one step ahead of the competition and more effectively plan for the future."
To learn more about how your manufacturing company can benefit from Budget Maestro, visit: http://centage.com/Solutions/Industry/Manufacturing-Budgeting-Software.asp or watch our short video on Budget Maestro for Manufacturing companies
For more information follow us on Twitter @Centage or visit our blog http://centage.com/Blog/.
About Centage
Budget Maestro® by Centage is an easy-to-use, scalable, automated budgeting, planning, and forecasting application. It is designed for small to mid-market companies and automates many of the time-consuming and error-prone activities associated with using spreadsheets to generate accurate budgets and forecasts. It features built in financial and business logic that allow users to build 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 Cash Flow reporting that generate automatically and seamlessly update. Budget Maestro serves more than 7,000 users worldwide. Visit us at www.centage.com. For more information follow us on Twitter @Centage or visit our blog http://centage.com/Blog/ for the latest insights on budgeting and forecasting strategies.
Centage and Budget Maestro are registered trademarks of Centage.