Centage announces the launch of FP&A as a Service, a new offering aimed primarily at mid-market companies. The solution combines Centage’s software platform with the support of a US-based team specialising in FP&A, with the aim of taking on some of the recurring financial planning activities.
For many mid-sized finance departments, the issue is no longer limited to choosing a tool. Teams must also find the time and resources needed to operate budgeting processes, update forecasts and produce the reports expected by the various stakeholders.
Going beyond software
With this new offering, Centage aims to address this issue by combining technology with operational support. The company provides its FP&A platform, as well as a team responsible for participating in the day-to-day operation of planning processes.
The solution is aimed in particular at companies generating between 25 and 500 million dollars in revenue and with relatively small finance teams. In these organisations, finance employees often have to divide their time between closing, auditing, systems management, accounts payable and receivable, as well as ad hoc requests from management.
Planning and forecasting may therefore receive less time than they require. Centage thus intends to take on some of these recurring tasks, enabling finance teams to devote more time to analysis and decision-making.
Support across the budgeting and forecasting cycle
The FP&A as a Service offering covers several stages of the financial planning process. Centage notably plans to manage the budgeting cycle, consolidate budgets and track approvals by operational managers.
The service also includes monthly updates to forecasts for the company’s various entities. Maintaining workforce and payroll planning models is also part of the solution, with native integrations announced with ADP, UKG and Paylocity.
Centage also plans to manage access for the various budget owners and prepare reports for management teams, boards of directors, lenders and department heads.
Finally, each client receives a Centage adviser based in the United States with FP&A experience.
The client retains control of decisions
The proposed operating model is based on a distinction between process execution and decision-making. The client remains responsible for its assumptions, trade-offs and approvals, while Centage handles the operation of the model and the recurring tasks associated with planning cycles.
This approach therefore seeks to address a common challenge for growing companies: having a structured FP&A environment without necessarily having to immediately build a dedicated team for these activities.
An offering available across multiple sectors
FP&A as a Service is announced as being available across the main sectors covered by Centage, including manufacturing, retail, professional services, technology, healthcare, non-profit organisations, education and hospitality.
With this development, Centage is expanding its positioning beyond providing a financial planning platform. The software vendor aims to offer a combination of technology, FP&A expertise and operational execution for finance departments seeking to structure their processes while retaining control of their decisions.
source: Centage
