Centage Corporation Continues Rapid Growth Driven by Demand for Cloud-Based Budgeting Solutions

By: GlobalNewswire News | Published: Tuesday, November 3, 2015

NATICK, Mass., Nov. 3, 2015 (GLOBE NEWSWIRE) -- Centage™ Corporation, a leading provider of budgeting and forecasting software (Budget Maestro™) for small and medium sized businesses, today announced the company has continued its double digit growth, as market demand for innovative cloud-based budgeting solutions expands. The company's cloud-based Budget Maestro solution has generated five times more revenue in Q3 of this year than for the same period last year. The extraordinary adoption of the cloud platform has also driven a 130% increase in cloud software sales year to date.

Centage remains committed to delivering the financial and operational insight organizations need to improve business performance, and has also garnered independent industry recognition for its efforts.

Notable industry recognition for 2015 include:

Awarded Microsoft Gold Competency for application development;
Designated a Core Vendor in BPM Partners 2015 BPM Pulse report;
Selected as a 2015 Golden Bridge Awards finalist for "Innovation in Business Process Management" with Analytics Maestro and "Best Deployment", based on a successful customer case study with M3 Midstream; and,
Named a finalist nominee in CPA Practice Advisor's annual Innovation Awards.

"Top performing organizations look for solutions that can provide the essential information and process flows needed to effectively and efficiently plan, budget, and forecast", noted Nick Castellina, Senior Research Director, Aberdeen Group. "Part of the solution selection equation is deployment method. Due to cost concerns, easy implementation, and recurring updates, cloud technology has been an attractive alternative to spreadsheets, for organizations that are looking to improve their FP &A processes."

"We have more 7,000 users worldwide across industries including manufacturing, healthcare and non-profit", said Barry Clapp, President & CEO of Centage. "While Budget Maestro's growth has been nearly 30% per year of late, we were constrained by not offering the alternative of cloud access to the product. Since we offered it, adoption and growth has wildly exceeded our expectations. Our customers and market face challenges that demand timely, agile, flexible budgeting, planning and forecasting, and that also enable involvement of a broader number of managers in the process. The budget itself, and financial reports, need to be easily modifiable and should be accessible on whatever technology platform that the customers desire. Adding cloud access continues our mission to make our best in class tool affordable and easy to deploy."

As part of the company's ongoing commitment to ensuring customer success, Centage also introduced a new cloud-based training portal. The Training Center is an extension of the company's "Center of Excellence" program and complements existing educational resources. The complimentary resource for Budget Maestro users is designed to serve as, a study guide for new users, to reinforce what was learned during initial implementation, and as an independent resource for on-demand training.
For more information on Centage 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://blog.centage.com/ for the latest insights on budgeting and forecasting strategies.

Centage and Budget Maestro are registered trademarks of Centage.

CONTACT: David Winterhalter dwinterhalter@centage.com (508) 948-0088

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