Key Capabilities include Martus Connector, custom reporting, and cash flow forecasting to shorten the budgeting process, create real-time reports, and plan for income fluctuations.
Greenville, SC, November 14, 2023 – Martus Solutions, a leading provider of budgeting and reporting software, announced key capabilities to help finance teams transition from spreadsheets to a collaborative budgeting environment. Organizations that use Martus can shorten their budgeting process up to 50% versus using traditional spreadsheets and can save up to 40 hours per month on reporting.
According to The Society for Human Resource Management (SHRM), over 300,000 accountants have left their jobs in the last two years, with more expected to leave the profession in 2024. Another recent survey of accountants found they are more likely to feel disengaged or unsupported in the workplace.
“The benefits of using collaborative budgeting software go beyond time savings or productivity, but also can produce the TQM-like result of a budget that better meets the mission of the organization, ” said Martus Founder and CEO Bill Cox. “Often, finance teams work separately from other departments, which can create an unintended silo effect. Martus bridges that gap, creating opportunities for collaboration that can’t happen with spreadsheets.”
Martus’ newest features expand the already robust software to offer even more support for finance teams and department managers.
Martus Connector is an open API that allows data to be pulled from Martus into the visualization tool of choice, including Microsoft Power BI. Customers using Martus Connector can create and share visually compelling reports that update in real time, enabling executive leadership and board members to gain better insight into their organization’s financial health.
Teams that need to create and share customized reports can use ReportBuilder. While all Martus subscriptions come with a complete suite of flexible and pre-built standard reports, ReportBuilder offers next-level customization. Choose from adjustable templates or build reports from scratch. Administrators can create their own formulas, create user-specific reports, and use any combination of budgets and actuals from any year. Users can also customize colors and font sizes to complement brand colors or report documentation.
Cash Flow Forecasting, Martus’ newest feature, enables businesses to see cash flow and balance sheet projections based on their budgets. This is especially helpful for organizations that rely on membership fees, subscriptions, or donations for the majority of their annual operating budget. Key features include default cash flow mapping, projected monthly Balance Sheets and Statements of Cash Flow. Customers can easily manage the complexities of prepaid expenses, loan principal payments, deferred revenue and their impact on both P&L budgets and projected Balance Sheets.
Martus offers three subscription plans: Advanced, Advanced Plus, and Enterprise. Cash Flow Forecasting is available as part of Martus’ Enterprise subscription, while Martus Connector is available as an add-on feature for all subscription levels. ReportBuilder is included with all new subscriptions.