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Centage Customer and CFO of Loftness Specialized Equipment wins 2015 Technology Leadership Award by Ventana Research

NATICK, Mass., Dec. 9, 2015 (GLOBE NEWSWIRE) -- Centage Corporation, a leading provider of budgeting and forecasting software (Budget Maestro) for mid-market companies, today announced that customer Dave Davis, CFO at Loftness Specialized Equipment, has been named the 2015 CFO Leadership Award winner by Ventana Research. He was recognized for his success in spearheading a strategic IT initiative to automate his organization's spreadsheet-based budgeting and forecasting process. Davis helped increase efficiencies across his organization, saving valuable time and money, and solidifying the role of finance as a strategic contributor to the organization.

Davis realized that automating the budgeting and forecasting process was critical to create efficiencies among his lean finance team. With a history of relying on Excel spreadsheets to manage the budget, Davis had to make a change to more strategically support the objectives of his growing organization. He turned to Budget Maestro from Centage Corporation as a trusted and proven alternative. Now, Davis is empowered to concentrate on the structure and performance of the businesudget Maestrs and not get bogged down in troubleshooting spreadsheets or questioning the validity of the figures within the budget.

By automating an archaic spreadsheet-based process, Davis was able to streamline the development and delivery of the annual budget far more efficiently and effectively. Within minutes, he can easily create what-if scenarios to determine the financial impact of capital expenditures on the organization and confidently manage the largest expense of the organization – personnel. Armed with actionable, reliable, and up-to-date financial insight, accounting and finance have become essential to the management team. The finance team now plays a critical role in guiding and developing the company's strategic near-term and long-term initiatives while forging stronger partnerships with sales and product management.

"Since relying on Budget Maestro, we are in a better position to more strategically forecast for the future, execute efficient results analysis, proactively manage our financials, and raise cost-consciousness among the company's management team," said Davis. "Having relied on Budget Maestro at three previous organizations, I trust Centage as an invaluable partner to ensure the financial health of my organization. I am grateful for this honor from Ventana Research to underscore the power of Budget Maestro to support a more strategic, forward-thinking approach to financial management."

Budget Maestro, built specifically for mid-market companies, helps customers like Loftness manage critical financial data like a large organization. For decades, the standard software for budget planning was a basic spreadsheet. Lacking the flexibility, security, and collaboration essential to effective budget planning, spreadsheets drain resources and deliver incomplete, error-prone results. Budget Maestro is a sophisticated but easy-to-use budgeting, forecasting, and reporting software solution that scales to meet customers' needs. Without Budget Maestro in place, Davis and his team would continue to lack the strategic insight needed to most successfully manage the financial health of the organization.

"Congrats to Dave Davis, CFO at Loftness Specialized Equipment for winning the 2015 Ventana Research CFO Leadership Award for his leadership in finance through use of Centage for budgeting and planning," said Mark Smith, CEO & chief research officer at Ventana Research. "A focus on financial health and use of dedicated planning and budgeting software, instead of a myriad of spreadsheets, is critical to generating best possible outcomes."

For more information on the Ventana Research Business Technology Leadership Awards visit Ventana Research Leadership Awards, where you can learn more about how Centage can transform your budgeting and forecasting process follow us on Twitter @Centage or visit our blog http://blog.centage.com/.

About Centage

Budget Maestro by Centage is an easy-to-use, scalable, automated budgeting, planning, and forecasting application. It is designed for 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 based on actuals or assumptions. 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://blog.centage.com/, for the latest insights on budgeting and forecasting strategies.

Centage and Budget Maestro are registered trademarks of Centage.

CONTACT: Sarah Murray Attune Communications +1 781-378-2674 sarah@attunecommunications.com

Source: Centage