NATICK, Mass., Jan. 14, 2016 (GLOBE NEWSWIRE) -- Centage Corporation, a leading provider of budgeting and forecasting software (Budget Maestro) for small and medium-sized businesses, today announced that the company closed out 2015 with a blockbuster fourth quarter. Year-over-year billings were up nearly 50 percent in Q4 2015. Most notably, demand for the cloud-based version of Budget Maestro has continued to explode, accounting for over 50 percent of all sales in the quarter.
As the trend toward cloud computing grows, many mid-size organizations do not have the desire or the bandwidth to maintain critical financial applications on premise. With the Budget Maestro cloud offering, customers still can benefit from the latest in automated budgeting solutions, without having to maintain any IT resources and infrastructure in-house. As needed, users still can host their ERP/GL systems internally, or in the cloud, and Budget Maestro will integrate to the back office applications seamlessly.
As Craig Schiff, president and CEO of BPM Partners, commented, "The timing is right for Centage's enhanced on-demand offering as more and more mid-market companies are looking to minimize demands on IT and keep their performance management projects moving forward by focusing on hosted/cloud-based solutions. The latest version of Budget Maestro provides the key benefits of cloud-based solutions: a scalable, secure system that is always fully up to date and can be accessed on demand, from any device and any location."
Budget Maestro is distinct in the market, and the next generation of budgeting and planning tools, in that it is an automatic budget generator, which operates as an extension of companies installed ERP systems and it deploys pre-programmed financial logic to create budgets in days, rather than weeks.
"2015 has been a great year for us, and our fourth quarter in particular exceeded almost all expectations," said Barry Clapp, president & CEO, Centage Corporation. "Our mission remains to provide financial professionals with the most current budgeting, planning, forecasting, and analytics solutions in the market to help improve the financial performance of their organizations. Opening the cloud-based version of Budget Maestro just made our powerful tool even easier to adopt, enabling much more of the market to realize its benefits. We anticipate the customer adoption trajectory to continue in 2016 as word gets out about our cloud version and as we continually add new budgeting and analytics functionality to our platform."
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 update seamlessly. 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.
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