2018 Review of Budget Maestro
Feb. 19, 2018
Budget Maestro from Centage
Budget Maestro from Centage, offering cloud-based budgeting and forecasting capability. Designed for mid-sized businesses, Budget Maestro is deliverable as a Software as a Service (SaaS) application, and offers an easy to use interface that provides access to all software options, including Revenue, Personnel, Expense, Wizards, Reports, and Tools. Budget Maestro offers budgeting, planning, forecasting, what-if-scenarios and reporting. There are two add-on options available; Analytics Maestro which offers advanced dashboard reporting, key performance indicators (KPI), and analytics, and Link Maestro, which provides users with an integration tool that allows data transfers between the product and third-party accounting software products.
Because Budget Maestro utilizes a single database, users can create real time cash forecasts, with the ability to create forecasts beyond the current fiscal year. The single database structure also allows users to create a synchronized income statement, balance sheet and cash flow statement, with the product automatically creating a comprehensive cash flow statement as budget numbers are entered. Budget Maestro also contains a Quick Start Wizard, a Forecast Wizard, and a What If Wizard that helps guide users through the respective processes.
Budgeting and planning is where Budget Maestro truly shines, with users able to create budgets at any level. The product offers expense budgeting and balance sheet budgeting. To begin to create a budget, users can initially import beginning balances from their current accounting application, and build a budget from that point. Budget Maestro allows users to easily add or change accounts or dimensions in any budget. Budgets and forecasts both can be created for a company, a department, a location, a manager, or even a product or project, if desired. The product also contains a built-in What-If wizard, that allows users to quickly create multiple budget and cash flow scenarios, with the ability to create multiple plans based on the scenarios created. Budget Maestro also allows users to create budgets in multiple currencies as well.
While Budget Maestro offers solid business analytics, those looking for more comprehensive analytic capability may want to consider Analytics Maestro. Designed to work with Budget Maestro and current ERP systems, Analytics Maestro offers numerous key performance indicators, graphic displays of budget versus actual totals, and the ability to create customized dashboards that offer a clear look at company health and current cash position.
Budget Maestro supports an unlimited number of users, depending on company needs. Each licensed user will need to have a unique user name and password in order to access the system. User permissions can be granted depending on roles, so employees can have access to the information they need to create a budget for their department, but not have access to confidential information such as payroll.
Reporting options in Budget Maestro are excellent, with a variety of budget, cash flow, and financial statement reporting options available. Reports are classified as Financial/Operational, or Cash Flow. Users can also create custom reports in the product as well. All reports in both Budget Maestro and Analytics Maestro contain drill-down capability, so users can easily view corresponding transactions for all data displayed. Budget to actual reports can also be run, with the ability to compare up to four different scenarios.
Budget Maestro offers excellent budgeting and forecasting capabilities. Those interested in learning more can easily access the numerous demos, whitepapers, and FAQ’s on their website. Centage also offers Analytics Maestro and Link Maestro that are designed to provide more advanced functionality. Designed as an out-of-the-box solution, Budget Maestro can be up and running in days.
Pricing for Budget Maestro can be obtained directly from Centage, or an authorized reseller.
Overall Rating – 5 Stars