CFOs Still Rely on Spreadsheets for Forecasting, Shows Survey

A recent survey sent to thousands of CFOs across the country yielded some interesting results for Centage Corporation (www.centage.com), a leading provider of cloud-based budgeting, forecasting, analytics and reporting software. Of the respondents, almost all were looking to grow revenue and nearly half – at 48% – need easier testing of what-if scenarios to achieve that goal.

With 88% of respondents still using spreadsheets for budgeting within their organizations, the amount of those wanting easier testing of what-if scenarios is telling. CFO and finance teams are tasked with the difficult responsibility of keeping up with the pace of business, and spreadsheets are falling behind. What-if scenarios are a vital part of the decision-making process, and Centage is uniquely poised to help take any business beyond the spreadsheet.

Cloud-based and collaborative, Centage’s Maestro Suite of solutions eliminates the time-consuming and error-prone activities associated with using spreadsheets. It reveals how well a business is performing and helps accurately forecast and report on its future financial health.