Budget Maestro Accounting Review

Centage
Product:
Vendor:
Founded:
Headquarters:
Budget Maestro
Centage
2002
Natick, MA
Ownership:
Customers:
Deployment Model:
Free Trial:
Private
Over 10,000
Cloud
No
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Budget Maestro At A Glance

Good: Allows businesses to transition from complex spreadsheets to intelligent software that builds and manipulates driver-based, collaborative budgets.
Bad: Because its mainly used for budgeting, it does not include comprehensive accounting functionality.
Bottom Line: While this software has a limited focus, it succeeds at its goal: enabling faster and more accurate budgeting, forecasting, analytics and reporting than spreadsheets could offer.

Product Overview

Budget Maestro is a cloud-based budgeting and planning software that helps automate many activities in the budgeting, planning, forecasting, reporting and analysis process. It is designed for small- and mid-market companies.

Budget Maestro allows users to do things like build a complete budget, perform numerous what-if scenarios and more. It features pre-programmed business logic and accounting rules to build and manage budget models more simply.

Centage’s Budget Maestro helps to make driver-based, collaborative budgets and plans simple to build and manipulate through reports and dashboards that show both the current health of your business as well as automated forecasts. 

It is built with sophisticated capabilities but is simple to use both for financial and non-financial users alike. Centage claims that Budget Maestro is the only solution that offers synchronized profit and loss, balance sheet and automatically generated cash flow reporting.

Features

Budget Maestro focuses on budgeting, planning, forecasting, reporting and analysis. Some of its core features include:

  • Budgeting – This software allows users to build a fully complete and accurate budget that is accessible anytime, anywhere.
  • What-if scenarios – Users don’t have to code or program in order to change their budget models instantly. Budget Maestro allows for dynamic and infinite what-if scenarios.
  • Forecasts – Users can automatically generate an accurately forecasted balance sheet and cash flow statement based on any model or assumption.
  • Define it yourself – Budget Maestro allows users to define drivers, spread methods and mass assumptions for any model scenario for deeper customization.
  • Customized dashboards – Users can understand their data more simply and easily share it through customized financial dashboards with drill-down and slice-and-dice analysis capabilities.
  • Integration – Seamlessly integrate with your General Ledger to ease budget vs. actual analysis.
  • Multiple contributors – Allow numerous budget owners or contributors access in order to have one single source of data truth.
  • More than spreadsheets – Budget and report by customer, product, location, division, manager, channel and more. The budget models also include multi-entity balance sheets and cash flow reporting, multi-dimensions reporting with roll-ups, integrated income statement, and more.

  • Billing and Invoicing?
  • Budgeting and Forecasting?
  • Core Accounting?
  • Expense Management?
  • Inventory Management?
  • Payroll Management?
  • Payment Processing?

Target Market

Budget Maestro is built for small- and mid-market companies of all industries.

  • Alliance Tire
  • Bard Date
  • Brandeis University
  • Home Service Stores
  • Immune Design
  • Vermont Country Store
  • Risk Strategies
  • Hames Corporation
  • Wagner Asia Equipment LLC
  • SerenaGroup

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Implementation/Integration

Budget Maestro outlines a clear implementation strategy on its website. The software solution also features built-in business and financial intelligence to assist with rapid implementation. Its current implementation methodology is a four-step process:

  1. Discovery – This initiates JumpStart, a process that reviews existing goals, structure and constraints, including business objective identification, evaluation of current systems, and a review of best practices.
  2. Configure – Configuration is accomplished with straightforward prompts, wizards and menus, bypassing the need for formulas or programming. This step includes accounts and financial reporting views, entities and operational reporting views, assumptions (including payable and receivable schedules, business drivers, expenses model and more), data transfers, and validation.
  3. Educate – Budget Maestro consultants share tools and techniques through knowledge transfer, administrator training and a train-the-trainer technique.
  4. Go Live – After a company starts using Budget Maestro, the customer service team provides on-going support and user feedback.

Budget Maesto integrates with MS Dynamics, Sage ERP, SYSPRO ERP, and QuickBooks. It is also designed to work with any general ledger application.

Customer Service & Support

Centage offers a Support Portal that features a large knowledge base of articles as well as email and phone support. Hours of operation are from 9 a.m. to 6 p.m. EST, Monday through Friday.

Clients receive technical support only with an Annual Maintenance Services (AMS) Agreement, which is a yearly fee that’s 20% of their current license price. This service includes:

  • Live phone technical support
  • Support via email
  • Response time of 24 hours or less on most tickets
  • 24/7 access to Budget Maestro’s online knowledge base
  • Immediate access to product updates and upgrades
  • Maintainance updates, hotfixes and patches
  • Full licensing and installation assistance
  • Invitation to participate in beta programs

Pricing

Budget Maestro does not publicly release its pricing information. Please contact them directly for a quote.

Shortcomings

Budget Maestro isn’t a full accounting solution. Instead, it intently focuses on budgeting, forecasting, analytics and reporting.

Screenshots

Centage Screenshot 1
Centage Screenshot 2
Centage Screenshot 3

About

Centage Corporation was founded in 2001 with the Budget Maestro family of solutions made to streamline budgeting, forecasting, financial consolidation, performance analysis, and reporting processes for small to medium-sized organizations. In addition to Budget Maestro, Centage offers Link Maestro and Analytics Maestro to help companies further move past Excel spreadsheets and formulas, streamline their processes, make more informed business decisions, and improve return on investment.

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Send feedback or corrections to feedback@betterbuys.com.

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