Budget Maestro Software


 

Budget Maestro by Centage allows financial executives to easily transition away from error-prone, disparate spreadsheets to an automated system that provides comprehensive budgeting, forecasting, consolidation and reporting tools. Small to medium businesses looking to move forward to a more flexible, secure, collaborative system can turn to Budget Maestro for an intuitive out-of-the-box solution. Budget Maestro is ideal for a host of industries, including manufacturing, healthcare, wholesale/distribution, retail, business services and nonprofits.

Budget Maestro provides a centralized, secure database so that any changes or additions to a company's data are updated automatically. Its powerful calculation engine ensures that all calculations are not only mathematically correct but follow sound accounting principles. This means that data is 100% accurate. With Budget Maestro's wizards, prompts and menus, you simply enter the data and the system does the work for you, eliminating the need to create and maintain complex formulas, macros and links. All your changes are automatically updated throughout your plan.

Budget Maestro's "financial intelligence" builds the Balance Sheet automatically off the P&L activities and then Cash Flow Statements are built automatically off the Balance Sheet. It's all perfectly synchronized. In addition, Budget Maestro comes with more 40 pre-built GAAP/IFRS-compliant reports including presentation-style reports that can be adjusted and customized for a variety of data. These can be exported to Excel or your resident G/L system for further customization.

Budget Maestro reduces errors, saves time and sets up in minutes. It's been designed for SMBs with limited IT resources and can be used right out of the box as an on-premise or hosted solution. We really think it's a great option for those transitioning to a more automated budgeting and forecasting solution.

 

Budget Maestro
 
Supported Operating System(s):
Windows 7, Windows Vista, Windows XP, Web browser (OS agnostic)

9 Reviews of Budget Maestro

Showing 1-9 of 9

 

from US Water Services
Specialty: Manufacturing
Number of employees: 101 to 500 employees Employees number: 101 to 500 employees

First impressions of Budget Maestro

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Likes Best

Very customizable tool. Our trainer is fantastic! The setup process is pretty straightforward and we're well on our way to full setup in less than 2 weeks.

Likes Least

While I'm not in IT, the tool is supposed to work with little IT involvement. Our GL setup is complex enough that I've had to involve IT a decent amount. The cloud environment still requires some downloads on machines to run.

Recommendations

When selecting, ask a lot of questions. Allow the vendor to get to know your organization so you can both determine fit. Think broadly about your approach and how the solution will work for you.

 

from Loftness Specialized Equipment
Specialty: Manufacturing
Number of employees: 51 to 100 employees Employees number: 51 to 100 employees

Powerful, flexible, and reliable budgeting software

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Likes Best

Their support team is always available to help you through any questions or difficulties you encounter. The training provided is top notch and thorough and your trainer sets up your financial report formats for you to match your current statements. My trainer is still my primary contact person for help and all I have to do is send him an email. The software itself has enough built-in power and flexibility it can handle all kinds of retail, distribution, or manufacturing scenarios, like for my company it is the need to build up inventory before a selling season and to do this for many different products and different selling seasons. Budget Maestro is capable of generating fairly accurate balance sheets and cash flow statements, in addition to income statements, as it has sections within it devoted to the balance sheet side of forecasting. Combining Link Maestro and Analytics Maestro to Budget Maestro provides the only solution one needs to not only generate a budget or forecast but to then generate all the financial reports, statements, breakdown analysis needed by management. With Budget Maestro I can drive my revenues, expenses, and inventory levels by units, not revenue dollars, which is a lot more accurate for forecasting when dealing with a wide variation of products, product costs and retail prices.

Likes Least

Financial statements and reports utilizing proper accounting format rules can be very hard or impossible to attain by generating them within Budget Maestro. To attain the proper formatting that I am trained in and accustomed to providing to my management team I have to export the reports out to Excel and apply the spacing, headers, underlining, and so on inside Excel. However, now with their recent addition of Analytics Maestro, this issue is gone as Analytics Maestro is an Excel add-on so that you create and format all your needed standard and custom reports inside Excel and use Analytics Maestro to drop in the numbers and data you want in each report or statement.

Recommendations

Participate in any demos the software company provides of its software then get them to show you how their software would handle your situation, your unique or most difficult budgeting issue. Push for a reasonable money-back guarantee period that gives you time to truly try setting up and generating your budget within the software.

 

from WP&YR
Specialty: Accounting / CPA
Number of employees: 101 to 500 employees Employees number: 101 to 500 employees

Know what you are getting into

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Likes Best

We were Maestro's experiment to have virtual training. We were connected through phone and an equivalent of Go-To-Meeting. The instructor was friendly, patient and very knowledgeable about the product. It wasn't until the 4th day in training until we got a glimpse of the capabilities Budget Maestro could do for us. After a few frustrating months of trying to get Budget Maestro going for us they did reach out to us throughout the process and solve our predicament to the best of their abilities. Very good customer service!

Likes Least

From the beginning on, we explained explicitly how complex our business and budget was. We were assured our budget would be 70-80% finished by the time training was over. It was not. Perhaps it was a mis-communication between both parties as i was under the impression all drivers would be built and we would be ready to go, either way, Budget Maestro does want us to succeed and are hoping the new upgrade will be more friendly to our needs. I can't wait to get started and get a real feel for this product.

Recommendations

I can see the potential of the software, I really do, and can't wait to have an actual budget rolling out of this. But make sure you have plenty of time to finish the budget after you had your training, even though they say your budget will be 2/3rds done, there is still a lot of work to be completed. I can't give a review of the overall budget experience, because i don't have a completed budget.

 

from Ambassador Solutions
Specialty: Software / Technology
Number of employees: 11 to 20 employees Employees number: 11 to 20 employees

Hands on user

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Likes Best

I like the ease of use and the ability to eliminate my dependence on Excel.

Likes Least

It's a bit pricey for our size of company. I would like to see an ASP offering that would be more cost effective for a company of our size.

Recommendations

The level of detail that can entered into the software is amazing. In analyzing budget to actuals, there's never a doubt about what the variances are.

 

from Consolidated Services Group
Specialty: Healthcare / Social Services
Number of employees: 101 to 500 employees Employees number: 101 to 500 employees

Satified Budget Maestro user

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Likes Best

It is a good alternative to using excel spreadsheets. It's much easier to get reporting done when you have a number of departments and want to report as a total or individual departments. Uploading the information from our accounting software is easy to do. The vendor is helpful whenever we have problems. They can resolve most of our issues pretty quickly. We mostly use it for comparing P&Ls actual to budget and departmental reporting. In the past, we used Excel, like many companies, and found it was very easy to have errors. This is much more accurate. It allows us to break personnel, expenses, and revenue down several levels and also to roll it up.

Likes Least

We are still using an older version because there is one particular report that we like that has not been able to duplicated to our satisfaction on the newer version. The company has been through several refinements of the product but has still not been able to duplicate the report.

Recommendations

Do a run through your current processes and make a list of all the ways you would use it. Then create an outline for each area you wish to review. The more specific your questions based on your needs, the better.

 

from Allied Health Media, LLC
Specialty: Other
Number of employees: 1 employee Employees number: 1 employee

Budget Maestro

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Likes Best

There are endless possibilities. There are numerous ways to view financials with Budget Maestro.

Likes Least

The amount of time it takes to learn it and really get up to speed.

Recommendations

Make sure you dedicate a large amount of time to learning this software. It's very intense and time consuming to learn.

 

from ESG Automotive Inc
Specialty: Engineering
Number of employees: 101 to 500 employees Employees number: 101 to 500 employees

ESG Automotive review of Budget Maestro

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Likes Best

They have an excellent training staff, and they are more than happy to work through any situation that you have.

Likes Least

There was a miscommunication in the research phase, and a major item that I expected is not a part of Budget Maestro. They have, however, found me a workaround.

Recommendations

Ask a lot of questions; spell out what you want to have come out of using the software.

 

from Heat Transfer Products
Specialty: Manufacturing
Number of employees: 101 to 500 employees Employees number: 101 to 500 employees

A Value Add from Day One

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Likes Best

Takes all the Excel spreadsheet nonsense out of budgeting. Great reporting package. We greatly appreciate the flexibility Budget Maestro offers our nimble team to make changes on the fly and seamlessly integrate with our ERP system to ensure financial data is accurate and up to date. Budget Maestro delivered value from the moment it was up and running and our team was instantly more efficient. Now, we can spend time on more strategic and meaningful initiatives to support company growth and innovative product development

Likes Least

It does take time to maintain new accounts. However, the benefits exceed the extra time for maintenance.

Recommendations

Budget Maestro was recommended to us by Syspro. It works well and enhances our ERP system and provides greater reporting capability.

 

from InterCall Australia Pty Ltd

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I was really impressed with the Budget Maestro demonstrations; their keen interest in understanding how our business model was structured and working through the benefits and challenges of acquiring the solution, before we even talked price. I was very attracted to the fundamental methodology and flexibility of the system to handle my requirements for budge - actual and forecast reporting. Also impressive is their what-if scenarios, the robust capabilities of their driver functionality, and Analytics Maestro (their Excel plug-in for user friendly desktop reporting). Initially our moderately complex business model created some database latency issues, but Centage took it on board and worked through it. They ended up making significant changes on the server side, and performance is now far better.

They are one star short of five because at some point they abandoned their segmented GL functionality. This has resulted in using a single entity field to handle location, function, and department. Our resulting entity schema is extremely confusing to end users, increases administrative overhead, and complicates the slice and dice capability that would come by handling separate GL segments.

 
 
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