Strong adoption of cloud-based Planning Maestro drives sustained growth in recurring revenue
Centage Corporation, leading provider of cloud financial software that transforms how businesses budget, forecast, analyze and report, announced that it has completed its fourth straight year of double-digital growth in recurring revenue from its cloud-based intelligent planning platforms.
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Although growth has been strong over the past three years, it recently accelerated due to the April 2019 release of Planning Maestro, a cloud-native platform that delivers sophisticated financial intelligence and planning tools to the SMB market. In less than four months, over 100 companies have signed up for Planning Maestro. By partnering with Centage, these companies are choosing an intelligent solution that truly breaks the mold for financial planning and analytics.
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“We anticipated the SMB’s need for an intelligent and collaborative financial planning and analytics (FP&A) platform, which is why we designed and launched Planning Maestro. It provides this vital market sector with the same level of sophistication enjoyed by enterprise-class companies, but at a price point SMBs can afford. Planning Maestro requires no heavy IT investment or the technical skill necessary to implement, code and operate traditional enterprise software, which makes it easy for SMB organizations to say yes,” explained John Murdock, CEO of Centage. “We are delighted to see that our decision is paying off, as evidenced by our expanding customer ranks and healthy recurring revenue.”
Centage has been in hypergrowth mode since Mr. Murdock took the reins in 2018 and secured a Series C funding round of $8.5 Million. Even as a fast-growing SaaS business, Centage has remained capital efficient and focused on recurring revenue to support the company’s drive for success.
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